Economy

The Dime Bank donates to EconomicsPennsylvania

The Dime Bank recently donated $10,000 to EconomicsPennsylvania, a not-for-profit organization whose mission is to ensure that every student in Pennsylvania understands essential economic and financial literacy concepts. They accomplish that through staff

‘World’s best climates’ found in Ecuador, Colombia and Mexico

InternationalLiving.com ’s just-released Annual Global Retirement Index rates Ecuador, Colombia and Mexico as the three countries boasting the world’s best climate. For their 2015 Annual Global Retirement Index, InternationalLiving.com’s editors and corre

Fitch rates Commonwealth of Pennsylvania’s $1 billion general obligation bonds ‘AA-’; outlook stable

Fitch Ratings has assigned an ‘AA-’ rating to the Commonwealth of Pennsylvania’s $1 billion general obligation (GO) bonds, first series of 2015. The Rating outlook is “stable.” Key rating drivers Fiscal challenges: Pennsylvania’s ‘AA-’ GO rating, below th

National Penn Bancshares Inc. declares first quarter cash dividend

National Penn Bancshares Inc. (Nasdaq: NPBC) announced Jan. 21 that it has declared a first quarter cash dividend of 11 cents ($0.11) per common share payable to shareholders of record as of Monday, Feb. 2. The cash dividend will be paid Tuesday, Feb. 17.

Valor Credit Union donates to local shelters and nonprofits; credit union’s clothing and food drives will continue through February

Valor Credit Union recently donated gently used winter wear, and non-perishable food and essential items to shelters in the counties it serves. Early in November 2014 the credit union began accepting donations as a part of its “Winter Warmth and Food Driv

Penn State Hazleton to offer free financial aid workshop Jan. 27

Penn State Hazleton’s Office of Student Aid will conduct a financial aid workshop beginning at 6 p.m. on Tuesday, Jan. 27 in 115 Evelyn Graham Academic Building on the campus. This free session is open to parents and students planning to attend any colleg

Retailers: Supreme Court ruling on swipe fees leaves merchants and consumers paying billions too much

The National Retail Federation (NRF) on Jan. 20 expressed disappointment at the U.S. Supreme Court’s announcement that it would not review an appellate court ruling on whether the Federal Reserve set a 2011 cap on debit-card swipe fees higher than the lev

ICBA applauds passage of bill supporting local economic growth

The Independent Community Bankers of America (ICBA) on Jan. 14 applauded the U.S. House of Representatives for approving H.R. 37, which would protect community banks from an arbitrary and damaging provision of the Volcker Rule* and correct an oversight in

ICBA applauds passage of law requiring community bank presence on Federal Reserve Board

The Independent Community Bankers of America (ICBA) on Jan. 13 applauded President Barack Obama for signing into law a measure requiring the White House to appoint someone with community banking experience to the Federal Reserve Board. The law reauthorizi

Offering slightly above-market rates can bring members and credit unions big payback

In a new report, First Quarter Growth In 2015 Is Critical To Sustain Momentum, Callahan Chairman Chip Filson notes that re-energizing share growth should be the top priority for credit unions right now. Callahan & Associates provides research, analytics,

NeighborWorks Northeastern Pennsylvania receives funding from the Wells Fargo Foundation

NeighborWorks Northeastern Pennsylvania (NWNEPA) received support from The Wells Fargo Foundation in the form of a $10,000 contribution on Jan.9. The contribution will support NWNEPA’s “My Financial Future” personal finance education and counseling servic

NBT Bank donates building to Trehab

NBT Bank announced Jan. 14 that it has donated its former Susquehanna office located at 1302 Main Street to Trehab, a Montrose-based community action agency. The agency serves residents of Susquehanna, Wyoming, Bradford, Wayne, Sullivan and Tioga counties

Auditor General DePasquale says underfunded municipal pension liability now $7.7 billion, up $1 billion in two years

Auditor General Eugene DePasquale on Jan. 14 said Pennsylvania’s underfunded municipal pension liability has now grown to $7.7 billion, an increase of $1 billion over a two-­year period. He again called upon the governor and the General Assembly to place

DCED announces interest rates for PIDA business loan program through March 31

For real estate loans financing eligible land and building costs, borrowers will have the following two interest rate options: 1. Fixed interest rate for the full term of the loan (up to a 15-year period). This option is calculated using the 10-year treas

Wells Fargo Foundation supports UNC youth arts programming

United Neighborhood Centers of Northeastern Pennsylvania (UNC) recently received a grant of $8,000 from the Wells Fargo Foundation to support its Illumination Youth Arts Program which includes such outlets as theater, photography, creative writing and dan

U.S. Chamber’s annual ‘State of American Business’ address calls for policies that create jobs, enable economic growth

In his annual State of American Business address, Thomas J. Donohue , U.S. Chamber president and CEO said that the state of American business is improving, but the outlook is uncertain. Donohue outlined steps the chamber will take in the coming year to cr

National Retail Federation: Although total retail holiday sales increase 4%, December sales disappoint

Confident consumers stocked up on holiday gifts and other merchandise over the 2014 holiday season, helping boost overall holiday retail sales to their highest level since 2011. According to the National Retail Federation, December retail sales, which exc

Nonresidential construction hiring surges

The U.S. construction industry added 48,000 jobs in December, including 22,800 jobs in nonresidential construction, according to the Bureau of Labor Statistics (BLS) preliminary estimate released Jan. 9. November’s estimate was unchanged in this release,

F.N.B. Corporation declares cash dividend on non-cumulative perpetual preferred stock, Series E

F.N.B. Corporation (NYSE: FNB) on Jan. 8 announced that its board of directors declared a quarterly cash dividend of $18.13 per share (equivalent to $0.45325 per depositary share or 1/40th interest per share) on F.N.B. Corporation’s non-cumulative perpetu

Lackawanna County Veterans Treatment Court receives $25,000 pledge from First National Community Bank

First National Community Bank (FNCB) recently pledged $25,000 through the Pennsylvania Neighborhood Assistance Project Tax Credit Program, to the Treatment Court Advocacy Center of Lackawanna County (TCAC) to help local veterans in the rehabilitative prog

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