Post Pandemic, Philly’s Largest Bank Closes Access to Credit

Wow, we are finally on the road to recovery and Philly’s largest bank, and some others, decide to close customers’ personal lines of credit. The bank previously stopped offering Home Equity Lines of Credit (‘HELOCs’) and auto loans through independent dealers. This trend is not in the interest of the customer, but rather the profitability of shareholders. As the community struggles to get back to work and back on a strong financial foundation, this is a blow. BHCU, Delaware County’s Credit Union, wants to assure the community that there is no need to panic.

Banks have made the decision to streamline their product offering to ensure their own profitability.  At BHCU, the members are the owners and success is measure by the financial independence of our members.

Ryan Conte, Director of Member’s Experience, wants the community to know that BHCU is positioned to help them through any transition.  As existing financial tools are suspended over the next 60 days, there are resources available to ensure financial stability and mitigate impact on credit scores.