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UNITED BANK OF PHILADELPHIA FOUNDER AND CEO INVITED TO WHITE HOUSE

 PHILADELPHIA, March 8 /PRNewswire/ -- Dr. Emma C. Chappell, founder, chairman and CEO of United Bank of Philadelphia, was one of only two women of 24 nationwide business and labor leaders invited to the White House to discuss President Clinton's economic proposal with the president and Vice President Gore.
 Invited to represent community banking throughout the country, Chappell is committed to assisting emerging minority businesses and promoting their growth and development, and dedicated to stimulating community growth.
 Chappell offered her comments on the president's economic proposal: "In introducing his economic plan, President Clinton has provided the leadership this nation desperately needs. The president's plan has the potential of stimulating the economy, reducing the deficit and freeing up credit for financial institutions.
 "President Clinton's aggressive proposal to stimulate investment should improve our economic climate and create a more favorable climate. I applaud the president's serious and courageous leadership in addressing the nation's economic ailments.
 "Furthermore, I support his efforts to focus the attention of the American people on the need to reduce the size of the federal deficit. For too many years, the Congress, the White House and the public have failed to realize that deficit spending cannot continue if the United States is to continue as the world economic leader. President Clinton has offered the only serious program to bring these deficits down and this plan deserves our consideration and ultimately our support.
 "Lastly, I commend the president for explicitly promising to attack the credit crunch and for criticizing the bank examination process.
 "President Clinton's proposal will hopefully set the country on the right course again, and I will help him in any way that I can," Chappell concluded.
 Not only did the president receive support for his plan from business and labor leaders, but Chappell garnered support for United Bank from Anheuser-Busch and Nation's Bank. August Busch, chairman and president of Anheuser-Busch, conferred with Chappell to get the brewery established as a depositor. Hugh McColl, CEO of Nation's Bank, plans to augment United Bank's loan portfolio by selling the bank some loans from its inventory.
 United Bank of Philadelphia is the first black-owned and controlled full-service commercial bank to be chartered in Pennsylvania since 1923. The bank provides quality, personalized commercial banking services to businesses and professionals in the Delaware Valley area, with special attention to blacks, Hispanics and women.
 /delval/
 -0- 3/8/93
 /Editors: A list of other business and labor participants is available from contact./
 /CONTACT: Samuel Cerminaro of Wolfinger Cerminaro Communications, 215-337-7320, for United Bank/


CO: United Bank of Philadelphia ST: Pennsylvania IN: FIN SU:

MK-CC -- PH009 -- 3973 03/08/93 11:37 EST
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Publication:PR Newswire
Date:Mar 8, 1993
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