Beneficial Corporation Closing Escrow Unit.WILMINGTON, Del.--(BUSINESS WIRE)--Nov. 17, 1995--As part of a recent restructuring, Beneficial Corporation plans to close its escrow subsidiary, Benevest Escrow Company, affecting 65 workers in 10 offices in California and one office in the state of Washington. Also closing will be BEC Trust Deed A legal document that evidences an agreement of a borrower to transfer legal title to real property to an impartial third party, a trustee, for the benefit of a lender, as security for the borrower's debt. Service Inc., another subsidiary, which employs seven employees in Fullerton, Calif. "Benevest Escrow and BEC Trust Deed Service had not met our high expectations for profitability and did not fit our long-term strategy for growth in California," said Jon B. Georgie, president of Benevest and a Group President for Beneficial Management Corporation of America, which had responsibility for managing the escrow unit. All of the offices should be closed by the end of 1995. "Nevertheless, the 140 branch offices of Beneficial California Inc. continue to offer the high caliber of consumer financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. that our customers have come to expect," said Georgie. The announcement affected Benevest Escrow offices in Anaheim, Covina, Fullerton, Modesto, Oakland, Orange, Riverside, Sacramento, San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. and Sherman Oaks, all in California; and the Benevest Escrow office in Bellevue, Wash. Beneficial Corporation is a $14 billion, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Stock Exchange-listed financial services holding company. Subsidiaries of the Company provide financial services through their various consumer-finance, credit-card, banking and insurance operations located throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, the United Kingdom and Germany. CONTACT: Beneficial Corporation Robert Wade Robert Wade or Bob Wade is the name of several notable individuals:
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