PECO and its parent company, Exelon, have arranged credit lines totaling $123 million with 28 minority- and community-owned banks in located in PECO’s service area and other regions where Exelon operates. These transactions help grow local businesses, the local economy, and are critical to many communities that remain challenged by current economic conditions.

Exelon’s minority and community banking program, which began in 2003, is unique in the energy industry. Administered by JPMorgan Chase since its inception, the program has more than tripled in credit facility size and quadrupled the number of participating banks. Locally, the United Bank of Philadelphia serves as a lead arranger for PECO’s $34 million credit line.

“We are committed to supporting our local businesses and driving economic growth across the Greater Philadelphia region,” said Craig Adams, PECO president and CEO. “Supplier diversity is an important part of this strategy, and it is a fundamental way of doing business at PECO.”

“This long-standing relationship with PECO is very important to the Bank and its banking partners,” said Evelyn F. Smalls, president and CEO of United Bank of Philadelphia. “PECO has been unwavering in its commitment to community banking and the financial benefit to our banks is important as we continue to provide access to capital to small businesses in the region.”

Exelon and PECO’s commitment to supplier diversity is a critical part of the company’s overall supply chain strategy. Exelon’s corporate spending with diversity-certified suppliers totaled more than $1.1 billion in 2014, with PECO accounting for $124 million of that spend. PECO spent $93 million of its total with diversity-certified prime contractors and service providers, including those based in Pennsylvania.