Better Health for All
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ESSA Bancorp's core banking services are considered to have a neutral direct health impact, as they do not directly promote or harm health outcomes. The company does not offer health-related products or services, nor does it engage in activities that directly cause user harm, require health data management, or involve clinical trials, patents, or food products. Therefore, many health-related KPIs are not applicable. However, the Justice Department alleged that ESSA engaged in redlining from 2017 through at least 2021, failing to provide mortgage lending services to majority-Black and Hispanic neighborhoods in the Philadelphia Metropolitan Statistical Area.
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In 2023, ESSA agreed to a settlement of over $3 million, which included investing $2.92 million in a loan subsidy fund to increase credit access in these neighborhoods, spending $125,000 on community partnerships, and $250,000 on advertising, consumer financial education, and credit counseling.
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The bank also committed to hiring two mortgage loan officers for West Philadelphia and conducting a research study on financial needs in communities of color.
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ESSA supports the RiseUp Fund for underserved families, partners with Community Action Lehigh Valley (CALV) to combat poverty, and works with Pocono Mountains United Way to assist low-income individuals.
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It also partners with reentry programs, offering loans up to $15,000 to participants and graduates.
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The Community First Loan Program is available in majority-minority or low-income neighborhoods, and the bank has hired mortgage professionals to target these areas and a Spanish-speaking professional for Hispanic/Latino communities.
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The ESSA Bank & Trust Foundation, established in 2007, focuses on supporting health-related programs and has awarded over $17.5 million to community well-being, with a maximum grant of $10,000 per application starting in 2024.
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The foundation supports public health, mental health care, diseases and conditions, and reproductive health care.
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ESSA Bank also supports national organization fundraisers like Relay for Life and the American Cancer Society, raising nearly $288,000 for local charities through its annual Charity Golf Tournament.
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In 2022, Financial Reality Fairs targeted high school students, many from low-to-moderate income households.
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ESSA Bank & Trust provides grant money to CALV for counseling services to support low-income individuals with severe mental illnesses seeking housing.
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Fair Money & Economic Opportunity
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ESSA Bank & Trust was accused by the Justice Department of redlining, specifically failing to serve the credit needs of majority-Black and Hispanic neighborhoods in the Philadelphia Metropolitan Statistical Area from 2017 through at least 2021.
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To resolve these allegations, ESSA agreed in 2023 to pay more than $3 million, including investing at least $2.92 million in a loan subsidy fund.
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The company also committed to spending $125,000 on community partnerships and $250,000 on advertising, consumer financial education, and credit counseling.
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As of 2022, ESSA had invested approximately $8.0 million in affordable housing.
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The bank conducted five Financial Reality Fairs in 2022, with employees participating in 120 other financial literacy events, totaling 1,219 volunteer hours.
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They also donated $30,155 to provide 8,666 workbooks for students.
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ESSA operates BankOnWheels to provide banking services to communities with limited access and participates in Bank On.
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The company contributes $5,000 annually for three years to the Pocono Mountains United Way program.
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As of December 31, 2021, ESSA had 4 of its 21 full-service branches in the Philadelphia MSA, the area of focus for the redlining allegations.
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Fair Pay & Worker Respect
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ESSA Bancorp, Inc. reported a CEO-to-median employee pay ratio of 23:1 for both 2023 and 2024, with the median employee compensation at $52,904.
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As of September 30, 2024, neither ESSA nor its subsidiaries are party to any collective bargaining agreements or understandings with a labor union.
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The company is not the subject of any proceedings asserting unfair labor practices and states it is in material compliance with all applicable labor laws.
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The company maintains a comprehensive employee benefit program, including group medical, dental, and vision insurance, but the percentage of the workforce covered is not specified.
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Fair Trade & Ethical Sourcing
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No specific, concrete data points were found in the provided articles for any of the KPIs related to Fair Trade & Ethical Sourcing. While one article mentions that "The Bancorp encourages diverse businesses to register to do business with them,"
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and another refers to a commitment to "diverse and inclusive practices" and "integrating diversity and inclusion into every facet of our business,"
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these statements do not provide quantitative evidence of procurement budget directed to diverse suppliers. Therefore, no KPIs can be scored based on the provided evidence.
Honest & Fair Business
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No evidence available to assess ESSA Bancorp, Inc. on Honest & Fair Business.
Kind to Animals
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As a financial institution, ESSA.US does not engage in activities such as product manufacturing, animal testing, or animal agriculture. Therefore, KPIs related to cruelty-free certification, alternative testing methods, humane operations, ethical input substitution, supplier audits for animal welfare, cage-free sourcing, animal testing policies and volume, innovation in animal-free technologies, and animal agriculture ethics are not applicable to its core business model. The ESSA Bank & Trust Foundation awarded an $80,000 grant to the Animal Welfare Society of Monroe for a new kennel project.
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While this demonstrates philanthropic support for animal welfare, it does not directly align with the specific definitions for KPIs such as wildlife conservation impact or public policy engagement in animal welfare.
No War, No Weapons
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No articles provided specific, concrete data points for any of the KPIs related to the 'No War, No Weapons' ethical value.
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The provided articles focus on ESSA Bancorp's community engagement,
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environmentally friendly financial practices,
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and general ESG data,
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none of which contain information about arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investments, or any other military or conflict-related activities.
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Planet-Friendly Business
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In 2024, Bancorp reported total carbon emissions of approximately 89,200 tCO2e across Scope 1, 2, and 3.
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Scope 3 emissions, which account for 27% of the total, increased by 79% last year and by 59% since 2019.
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Bancorp has set targets aligned with the Science-Based Targets initiative (SBTi) to reduce absolute Scope 1, 2, and 3 greenhouse gas emissions by 90% by 2050 from a 2019 base year, and a near-term target to reduce Scope 1 and 2 emissions intensity by 43% per gross ton mile by 2030.
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The company aims to be climate positive and is part of a solar sharing grid.
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It has LEED Certified branches in NY and VA.
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The company uses upcycled plastics for debit cards and moved to recycled paper products in 2023.
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CNB has saved 110 cubic yards of landfill space by hosting shred events.
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Bancorp's Scope 3 emissions tracking demonstrates supply chain emissions tracking.
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The company has a target to reduce absolute Scope 1, 2, and 3 greenhouse gas emissions by 90% by 2050.
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Respect for Cultures & Communities
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The provided articles, including employee reviews, LinkedIn posts, and career pages, explicitly state that they do not contain any specific, concrete data points or information relevant to ESSA.US's performance regarding 'Respect for Cultures & Communities'.
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Therefore, no evidence was found for any of the KPIs, such as formal partnerships, community reinvestment, cultural incidents, impact assessments, local employment ratios, grievance mechanisms, cultural preservation, local procurement, or community representation.
Safe & Smart Tech
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ESSA Bank & Trust has no documented data breaches.
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The bank utilizes authentication processes, including multi-factor verification, for secure client identification both in-branch and online, and recommends enabling two-factor authentication.
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It employs multifactor controlled entry with security challenge questions and dynamic access analysis.
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The bank uses detection software monitoring over 65 fraud scenarios and features check fraud monitoring software in branches and SMART Stations, with manual reviews for high-value mobile check deposits.
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ESSA Bank & Trust states its security measures comply with federal law and has improved governance to align with FFIEC standards.
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It uses Secure Sockets Layer (SSL) protocol for data encryption and holds a VeriSign-issued Digital ID.
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The company provides continual employee education for fraud identification and has conducted real-world ransomware tabletop exercises for executives and role-specific breach readiness exercises.
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Echelon helped ESSA elevate vulnerability management from infrequent scans to daily visibility and prioritized remediation.
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Users can set up real-time alerts, change passwords, update email addresses, and enroll in mobile banking, and can decline location data collection.
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The bank collects Social Security number, checking account information, account balances, payment history, credit history, credit scores, and location data (if enabled).
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It shares information for everyday business purposes, marketing, and joint marketing with other financial companies, but does not share information for affiliates' everyday business purposes or for nonaffiliates to market to you.
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For California residents, ESSA Bank will not share information with marketing partners.
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Zero Waste & Sustainable Products
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The company has implemented several waste reduction initiatives, including utilizing DocuSign for electronic signatures, which saved the equivalent of 226 trees or 1,409,460 pages of paper.
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They deployed digital business cards company-wide in 2023 and moved to recycled paper products in 2023.
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All divisions issue upcycled plastic Instant Issue Debit Cards to reduce first-use plastic.
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Additionally, the company hosts shred events for customers, which have saved 110 cubic yards of landfill space.
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For customer waste education, the company offers eBanking and ePay solutions to reduce paper usage and hosts shred events for customers.
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As of June 30, 2023, 45.3% of customers receive statements electronically.
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