WSFS Bank is a community bank located in Delaware, with surrounding branches in Pennsylvania and New Jersey. The company was founded on February 18, 1832 with Willard Hall as the first president. Since its foundation, WSFS Bank has grown immensely. Multiple presidents and CEOs have rotated through bringing about new change to the bank. During the late 1980s and early 1990s, the bank was close to going bankrupt. Thanks to the help of former CEO and current Chairman of the Board, Skip Schoenhals, the bank survived and prospered into what it is today.
WSFS Bank offers an array of products from checking and savings accounts options, loan services, mortgages, financial advising, deposit and lending services, cash management services, employee benefit services, private banking services, etc. The bank continues to acquire entities in order to grow its business, while still trying to maintain the community bank feel.
Given the growing nature of WSFS Bank, this paper is going to analyze the Bank’s use of social media as a platform to reach its customers and shareholders, and delve into what successes and opportunities WSFS has in store based on this use.
Current Use of Social Media
Over the past few years, WSFS Bank has slowly increased its use of social media as a means to
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One misleading factor for customers and shareholders visiting the page is where it lists the WSFS Bank employees on the right hand size. The Bank continuously advertises how they are growing and expanding their footprint in the Delaware Valley, however only 568 employees are on the LinkedIn page. Users of LinkedIn unfamiliar with the Bank may question how successful their expansion is with a company so small. One way to combat this is to require every employee to have a LinkedIn page so that whether or not they are active, the employee numbers properly reflect their expansion