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Can I Borrow Money From Beneficial Mutual Savings Bank To Purchase The Banks Stock?

April 26, 2017Bank Banks Beneficial borrow money purchase savings stock

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Can I Borrow Money From Beneficial Mutual Savings Bank To Purchase The Banks Stock?

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No. Regulations prohibit the Bank from making loans to individuals to purchase the Bank’s stock. You may not submit a check, or authorize a withdrawal, from funds drawn on a Beneficial Mutual Savings Bank line of credit.