{"id":5248,"date":"2015-05-07T15:52:44","date_gmt":"2015-05-07T19:52:44","guid":{"rendered":"http:\/\/www.thevalleyledger.com\/?p=5248"},"modified":"2015-05-08T23:02:58","modified_gmt":"2015-05-09T03:02:58","slug":"lehigh-financial-group-helps-allentown-ymca-ywca-stabilize-finances-and-expand-community-programming","status":"publish","type":"post","link":"https:\/\/www.thevalleyledger.com\/?p=5248","title":{"rendered":"Lehigh Financial Group Helps Allentown YMCA & YWCA Stabilize Finances And Expand Community Programming"},"content":{"rendered":"

Partnership With People\u2019s First Credit Union Brings Non-Profits Together<\/em><\/p>\n

Allentown, Pa<\/em>. —\u00a0 After an 18-month rebuilding period that saw more than $400,000 in capital improvements, the Allentown YMCA and YWCA is now working on solidifying its financial base thanks to a $650,000 refinancing package arranged through Lehigh Financial Group.<\/p>\n

The refinancing, completed\u00a0 May 7,\u00a0 partners the non-profit YMCA and YWCA with the non-profit People First Federal Credit Union and gives the organization renewed stability and an extended period to repay the loan, which was formerly held by a national, for-profit bank, say \u201cY\u201d President and CEO Jim Finchum and Jeff Barber of Lehigh Financial Group.<\/p>\n

\u201cThe big bank was really not the best partner for them. They needed a commercial brokerage firm that would listen and understand what their needs are as a non-profit for placement of financing needs,\u201d Barber said. \u201cWe decided that People First FCU would be a good fit for the Y — one non-profit working with another non-profit. They needed a lender that was local and that could understand their story.\u201d<\/p>\n

Finchum, who assumed the leadership role at the venerable Allentown institution two years ago, said that over the past 18 months, \u201cWe have completed approximately $435,000 in improvements. We put a new roof on the building, repaired and updated our air conditioning system and added a new 5-ton unit, and installed a new boiler system and heat exchangers that changes our system from steam to hot water. These are the internal updates that were needed before any external projects could be taken on.\u201d<\/p>\n

The Y was built in 1961 and expanded in 1971.<\/p>\n

Finchum credited the Trexler Trust Fund and The Century Fund for providing the funds for those projects, which allowed the Y to move on with renewed programming and equipment aimed at retaining and attracting members.<\/p>\n

\u201cWith the internal projects being completed, we have started some external projects — projects that our members can use — by putting in some new equipment,\u201d Finchum said. \u201cWe purchased 15 new spin bikes to provide spin classes to our membership. Theses spin bike classes are offered at no extra price and are included in the membership service, we have added new and upgraded weight equipment to our free weight room. We have received money to repair and resurface our gym floors.\u201d<\/p>\n

Barber and his colleague, Lewis Edwards, who has been a member of the Allentown Y for 35 years and helped shepherd the organization through the refinancing process, say they are confident that Finchum and his team have the organization moving in the right direction. \u201cFrom what we have seen, the Y is committed to Allentown and the future of our city and serving the community around them, no matter what,\u201d Barber said. \u201cThey have seen their membership numbers grow over the last 18 months and we feel it\u2019s due to the fact they are committed to investing funds back into the facility and its people.\u201d<\/p>\n

Finchum said the Y remains an integral part of the Allentown community and offers a variety of programs that for-profit gyms don\u2019t offer, such as a one-week, free \u201cLearn To Swim\u201d classes that will be held later this month for youngsters ages 8 to 11.<\/p>\n

\u201cThe focus of the Learn to Swim program is that all participants will finish the program having learned new swim techniques as well as water safety skills that can save lives,\u201d Finchum said. \u201cThis program is a great reflection of Youth Development, Healthy Living and Social Responsibility as the participants will be active in learning new skills, develop confidence and will have the opportunity to make new friends.\u00a0 The participants will also learn about the Y\u2019s core values throughout the program, which are Caring, Honesty, Respect and Responsibility.<\/p>\n

\u201cThe Y is a critical part of the community and we are a family and member-friendly facility,\u201d he added. \u201cWe have something for everyone.\u201d<\/p>\n

########<\/p>\n

For More Information:<\/strong><\/p>\n

 <\/p>\n

Jeff Barber<\/p>\n

Lehigh Financial Group LLC<\/p>\n

610-821-6870 Ext. 2<\/a><\/p>\n

jeffbarber@lehighfinancialgroup.com<\/a><\/p>\n

www.lehighfinancialgroup.com<\/a><\/p>\n

 <\/p>\n

Jim Finchum<\/p>\n

President and CEO<\/p>\n

Allentown YMCA & YWCA<\/p>\n

610-351-YMCA (9622)<\/p>\n

Jfinchum@allentowny.org<\/a><\/p>\n

 
\n

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