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Reading: Credit union known for funding small business looks to expand into Berks | State
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Hispanic Business TV > Business > Credit union known for funding small business looks to expand into Berks | State
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Credit union known for funding small business looks to expand into Berks | State

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Last updated: June 28, 2024 11:53 pm
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Contents
Tax exonerationAppointments

READING, Pa. – The Berks County Board of Commissioners on Thursday night voted to adopt a resolution authorizing a general letter of support for the Community First Fund Credit Union’s effort to secure the funding needed to expand into Berks County.

Commissioner Chair Christian Leinbach explained the Community First Fund has been a long-time nonprofit funding agency for small businesses based out of Lancaster County.

Leinbach said the nonprofit launched a credit union in Lancaster County about two years ago.

“It’s going very well, and they are planning to launch a similar credit union effort here in Berks,” Leinbach said.

The commissioners held their weekly meeting in the evening as one of its quarterly on-the-road meetings.

Thursday’s meeting was held at Colebrookdale Township where the Colebrookdale Township commissioners hosted and welcomed the county commissioners.

Tax exoneration

In other business, the board approved a resolution to exonerate county taxes for the years 2021, 2022 and 2023 in the total amount of $3,996 for the nonprofit Husky House Inc., based in Matawan, New Jersey, for a property located in Douglass Township.

Leinbach said there is a lesson to be learned for nonprofits.

“This is one of the most common mistakes that we run into,” Leinbach said. “A nonprofit buys a property from another nonprofit, and there’s an assumption that they don’t need to do anything because they’re a nonprofit.”

“When buying from a nonprofit that is tax exempt, the tax exemption is relative to the nonprofit status and doesn’t run with the property,” he said. “So, whenever there’s a change in ownership — and we have this often with churches — the new nonprofit has to apply immediately to the Board of Assessment Appeals for their nonprofit status. Often, that doesn’t happen.”

Appointments

The commissioners also voted to appoint:

  • Amanda Bentzel to chief clerk of the commissioners, effective July 1, at an annual salary of $64,000.
  • Christie Brown to deputy administrator as outreach services coordinator of the Library Systems, effective July 17 at an annual salary of $75,000.



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