WSFS Servicing Over 10,000 ATMs Nationwide

Stellar Service, WSFS Bank's brand promise, has helped fuel growth of a niche division called Cash Connect that has become a national leader in the ATM industry.

• Press Release
• Source: WSFS Financial Corporation
• On 8:58 am EDT, Wednesday September 9, 2009

WILMINGTON, Del., Sept. 9 /PRNewswire-FirstCall/ -- WSFS Financial Corporation (Nasdaq: WSFS - News), the parent company of WSFS Bank, today announced it is servicing over 10,000 ATMs nationwide through Cash Connect, the Bank's ATM division. In addition to boasting the largest bank-branded ATM network in Delaware, WSFS Bank has become a national leader in the ATM industry through a specialized product called vault cash.

Cash Connect provides vault cash to non-bank ATM companies across the U.S., Puerto Rico, and the U.S. Virgin Islands to fund their ATM networks. Funds are wired to a correspondent bank, picked up by an armored car company, and loaded into the ATM. When funds are withdrawn, they then electronically settle directly back to WSFS Bank. A daily fee is charged on the cash outstanding. Cash Connect handles the funding, tracking, and reconciling of each cash order for the 10,000-plus ATMs it now serves. In 2008, Cash Connect funded its network with over $5.4 billion.

Stellar customer service has been the key to Cash Connect's success. "Our customers have shown that they value reliability, responsiveness, and detailed attention to their needs," said Thomas E. Stevenson, President of Cash Connect Division.

Going over and above for the customer has been the key to WSFS Bank's rise to the top of Delaware's banking industry as well. "We Stand For Service", a play of the bank's acronym, has been a brand promise for the company which was recently named #1 by the News Journal's "Best in the Business".

"People want to work with a bank that genuinely cares about their needs," said Mark A. Turner, WSFS President and CEO. "Associates in every department of our bank enjoy helping their customers. That's why our customer base continues to grow."

Since the beginning of the year, the bank has added two branches. Additionally, customer deposits increased by $135 million (or 29% annualized) during the second quarter.

WSFS Bank's robust and convenient surcharge-free ATM network, operated by Cash Connect, is one of the ways the bank is providing stellar service. The bank's cardholders can access surcharge-free ATMs at over 350 locations in and around Delaware at places like Happy Harry's, Food Lion, and Grottos Pizza. In 2008 alone, WSFS customers took advantage of the surcharge-free network over 1.6 million times.

"Our customers consistently tell us they value the bank's safe, convenient, and free network of over 350 local ATMs. No other bank in our marketplace offers their customers that level of convenience," said Turner.

Entering the vault cash business has proven to be a wise decision for WSFS Bank. Cash Connect, which employs over 40 Associates, generally accounts for about 10% of the bank's earnings.

"Cash Connect continues to make significant contributions to the bank's earnings," said Turner. "Their profitability has thrived at a time when most of the financial services industry has experienced difficulty. Their success has provided a valuable counterbalance for the bank during the down economy."

About WSFS Financial Corporation

WSFS Financial Corporation is a $3.6 billion financial services company. Its primary subsidiary, Wilmington Savings Fund Society, FSB (WSFS Bank), operates 37 retail banking offices located in Delaware and Pennsylvania, as well as four loan production offices in Dover and Lewes, Delaware; Blue Bell, Pennsylvania and Annandale, Virginia. WSFS Bank provides comprehensive financial services including personal trust and wealth management. Other subsidiaries include WSFS Investment Group, Inc. and Montchanin Capital Management, Inc. Founded in 1832, WSFS is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit the Bank's website at www.wsfsbank.com.

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