Coatesville Savings Bank leadership announced last week the company’s name change to Prosper Bank to reflect the bank’s growth and expanded reach over its 100 years in service.
The company’s expanded footprint now serves a wider community throughout Chester, Lancaster, Lebanon, Dauphin, and Cumberland counties.
Janak M. Amin, president and CEO of Prosper Bank assured customers and stakeholders that the change is in name and brand only and it is not the result of merging or being acquired by another bank.
“Our Prosper Bank headquarters remains anchored in Coatesville, where it has been for over 100 years, and our commitment to support all of the existing communities we serve remains intact,” Amin said.
The transition began 11 months ago with a thorough comparison of eight competitors in the local marketplace.
“We analyzed how we could do better,” Amin said. “What emerged is a bank that provides high care, high performance and high accountability. We believe it’s our job to create convenient and affordable banking for our individual and business customers, without caveats or complexity.”
In addition to new signage and investment in facilities for enhanced infrastructure, Prosper Bank is providing several new and updated conveniences, including free checking options for individuals, businesses, non-profit organizations and municipalities. Customers will have free ID theft protection and access to ATMs worldwide fee-free with Prosper Rewards checking, online banking with bill pay, online account opening, notary services, coin counting for customers, instant-issue debit cards, e-statements and/or paper statements, mobile banking with mobile deposits and more.
Prosper Bank also announced a Home Equity Line of Credit with a new low introductory rate, allowing homeowners to access money based on the equity they’ve built in their homes to fund renovations, debt consolidation, college tuition, major purchases, emergency expenses, and other needs.
“Prosper Bank is building upon its strong roots and rich heritage,” Amin said. “At a time when other companies are evaluating cost and personnel cuts, the Board of Prosper Bank is investing in technology and people to create an excellent customer experience.”
Prosper Bank is one of the few regional banks that remained open as an essential business provider through the COVID-19 pandemic. Prosper Bank Chief Technology Officer Larry Witt said that the entity proactively reached homebound customers and invested more than $35,000 in community donations.