Sovereign | Santander Commits $600,000 To Revitalization Project In North Philadelphia Through Nueva Esperanza Program

BOSTON, June 20, 2013 /PRNewswire/ -- Sovereign Bank, N.A., a wholly owned subsidiary of Santander Holdings USA, today announced its commitment of $600,000 to support economic revitalization in eastern North Philadelphia in partnership with Nueva Esperanza, a faith-based organization founded to help the Hispanic community of North Philadelphia.

The announcement was made at the annual National Hispanic Prayer Breakfast in Washington, D.C., by Carlos Garcia, Sovereign | Santander senior executive vice president, who presented the funding commitment to Reverend Luis Cortes, Jr., Esperanza president and CEO. Nueva Esperanza is an affiliate of the Philadelphia-based Esperanza, the most prominent Hispanic faith-based network in the United States.

Sovereign | Santander will provide $100,000 each year for six years through the Neighborhood Partnership Program in Pennsylvania. The funding will launch a revitalization project in the 5^th Street Business Corridor in eastern North Philadelphia, an area that is vital to the local community as a catalyst for economic rebirth. The project plan includes several business and economic development initiatives.

"Sovereign | Santander is committed to supporting the neighborhoods we serve," said Garcia. "Our partnership with Nueva Esperanza is a positive step toward the revitalization of the 5^th Street Business Corridor, which is critical to the rebirth of the business community in eastern North Philadelphia."

As an affiliate of Esperanza and a voice for the Hispanic community of North Philadelphia, Nueva Esperanza also promotes homeownership and provides economic opportunities through a variety of social service programs. Esperanza is led by visionary activists and thought leaders who understand the issues impacting Hispanic communities and act from a faith-based perspective. It delivers programs and services in the local Philadelphia community and works with a network of over 12,000 clergy, churches, and community leaders across the country to strengthen Hispanic communities.

About Sovereign Bank

Sovereign Bank, N.A., a wholly owned subsidiary of Santander Holdings USA, is among the top 25 banks in assets as of December 31, 2012 in the United States, with principal presence in Connecticut, Delaware, Massachusetts, Maryland, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. Sovereign Bank is focused on serving the needs of its customers by providing high quality service and a range of comprehensive financial solutions through its 718 branches, 2,260 ATMs and nearly 8,900 team members. For more information about Sovereign Bank, visit http://www.sovereignbank.com or call 877-768-2265. Member FDIC.

About Santander Holdings USA

Santander Holdings USA, Inc. is a wholly owned subsidiary of Banco Santander, S.A., and parent company of Sovereign Bank, N.A. Banco Santander is a retail and commercial global bank, with a presence in 10 main markets: U.S., Germany, UK, Poland, Brazil, Mexico, Chile, Argentina, Spain and Portugal. Founded in 1857, Santander has more than 102 million customers, approximately 14,689 branches – more than any other international bank – and 189,858 employees. Santander was recently recognized as the Best Global Bank in 2012 by Euromoney magazine. For more information on Santander, visit http://www.santander.com.

SOURCE Sovereign Bank, N.A.