Century Savings Bank funds Infrastructure Upgrade for Local Business in Partnership with the Federal Home Loan Bank of New York

VINELAND, NJ B & B Poultry Co., Inc., a private, third generation family owned business specializing in ready to cook poultry products, recently announced that it made environmentally friendly, essential infrastructure upgrades at its world class processing facility in Norma, Salem County, NJ. The upgrades were financed by Century Savings Bank of Vineland in partnership with the Federal Home Loan Bank of New York, via its innovative Business Development Advance (BDA) Program. 

Josh Fisher, President, CEO of B & B Poultry Co, Inc. said, “It is critical to the life blood of manufacturers to invest in infrastructure. This funding allowed us to make various upgrades to our infrastructure including our Waste Water Treatment system. These improvements not only support operational efficiencies for B & B Poultry but are also environmentally responsible.” 

The financing was arranged by local lender, Century Savings Bank. The bank’s Chief Lending Officer Joe Rehm remarked, “Josh runs a first-class operation, and we’re proud that he chooses to bank with Century. It’s gratifying to find innovative ways to meet the needs of local businesses, like we did in this case with low-cost financing, thanks to the Federal Home Loan Bank of New York and their BDA Program purpose-built for companies like B&B.

The financing was made possible by the BDA Program, recently pioneered by the Federal Home Loan Bank of New York.

CAPTION: L to R: Adam Goldstein, Chief Business Officer of the Federal Home Loan Bank of New York; Brittany Wheeler, Vice President and Director of Government Affairs, New Jersey Bankers Association; Jose Gonzalez, President & CEO of the Federal Home Loan Bank of New York; Josh Fisher, CEO of B&B Poultry Co., Inc.; US Representative Jeff Van Drew; Dave Hanrahan, President & CEO of Century Savings Bank; Joe Rehm, EVP of Lending/Century Savings Bank; Kimani Little, Vice President Government Relations Officer of the Federal Home Loan Bank of New York

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July 23, 2024, 8:43 pm
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