DEVON BANK WINS THE LOYOLA FAMILY BUSINESS CENTER 2018 ILLINOIS FAMILY BUSINESS OF THE YEAR AWARD

FOR IMMEDIATE RELEASE

 

September 13, 2018

 

 Media Contact:  Pooja Naik

                            Devon Bank

                            (773) 423-2541

 

DEVON BANK WINS THE LOYOLA FAMILY BUSINESS CENTER

2018 ILLINOIS FAMILY BUSINESS OF THE YEAR AWARD

 

CHICAGO, IL — Devon Bank has been selected as the Loyola Family Business Center’s 2018 recipient of the Illinois Family Business of the Year Award.  The award was established by the Center twenty five years ago to recognize family businesses with exceptional commitment to family and family business, and to recognize family businesses who exemplify generosity, innovation and community involvement.

Anne Smart, director of the Loyola Family Business Center said, “These businesses deserve to be recognized for their job creation, long-term, sustainable economic value, and commitment to the vitality of our economy and communities. On behalf of our generous sponsor organizations and Loyola University Chicago, we wish to congratulate this year’s winning businesses and the families who lead them.”

The awards accepted nominations in six categories and Devon Bank was recognized for its contributions in the medium size category (50 to 250 employees).  The other finalists in this category were: Digital Check Corp., FONA International and West Side Tractor.

Devon Bank was also a finalist in the Community Service Award for the 2018 Illinois Family Business of the Year Awards presented by the Loyola Family Business Center.

The awards gala will be held on Thursday, November 15 at 6:30 p.m. at the Four Seasons Hotel Chicago, to honor all winners and finalists.

Devon Bank joins an esteemed group of family businesses who have exhibited outstanding contributions to the industry and community, multigenerational family business involvement and innovative business practices.

 

About Family Business Center at Loyola University Chicago Quinlan’s School of Business

 

The Family Business Center at Loyola has been supporting its member businesses and families, their employees and communities for 27 years. In 2016, the Family Business Center joined four other centers of excellence as part of the Loyola Business Leadership Hub. The Loyola Business Leadership Hub connects businesses, nonprofits, and government agencies to the experts, research, and resources in the Quinlan School of Business, Loyola University Chicago and the global Jesuit network of colleges and universities.

As part of the Loyola University Chicago’s Quinlan School of Business, the center upholds the Jesuit tradition of excellence in education, focusing on responsible leadership and development of the whole person. For more information, visit LUC.edu/fbc, or follow us on Twitter via @LoyolaFamilyBiz.

 

About Devon Bank

Owned and operated by the Loundy family since 1953, Devon Bank is in its third generation of family leadership as an independent, community bank, with David Loundy serving as its Chairman and CEO. The Bank has been serving the Chicagoland area since 1945 and is a full service bank including a full range of retail and business deposit products and services, trust and investment services, and a full range of home and business financing products, including specialized faith-based financing products for the religious needs of its customer base.  Devon Bank serves a very diverse customer base with its headquarters in a vibrant North Side community.  As of September 1, 2018, the bank’s approximately 100 employees speak at least 28 different languages. 

Long before the Community Reinvestment Act (CRA) mandated ascertaining and meeting community credit needs, Mason Loundy, the first generation to serve as chairman starting in 1953, was a firm believer in giving back to the community that the bank serves, a philosophy that still guides the family and the bank today.  Devon Bank supports over 30 not-for-profit organizations every year by donating funds, staff time or its facilities and advancing the work of schools, service groups, clubs, civic groups, religious institutions and other organizations in the community.

The bank now serves four geographic communities in Illinois (Rogers Park, Glenview, Wheeling, and now a Loan Center in Orland Park).  In addition, with its faith-based products, it serves communities of interest across the country.  

The Bank is also a member of the Community Bankers Association of Illinois and is an accredited member of the Better Business Bureau.

To learn more about Devon Bank, visit www.DevonBank.com

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