UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934


                              WSFS FINANCIAL CORP.
        -----------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
        -----------------------------------------------------------------
                         (Title of Class of Securities)

                                    929328102
                              --------------------
                                 (CUSIP Number)

                                December 31, 2000
        ----------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the  appropriate box to designate the rule pursuant to which this Schedule
is filed:

         / X /    Rule 13d-1(b)
         /   /    Rule 13d-1(c)
         /   /    Rule 13d-1(d)

*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the  liabilities of the section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).




<PAGE>
                                  SCHEDULE 13G
                               CUSIP NO. 929328102


1.       Names of Reporting Persons.
         I.R.S. Identification Nos. of above persons (entities only).

         Quaker Capital Management Corporation
         ------------------------------------------------------------

2.       Check the Appropriate Box if a Member of a Group

         (a)
                  ------
         (b)        X
                  ------

3.       SEC Use Only
                       ---------------------------------------------

4.       Citizenship or Place of Organization                 Pennsylvania
                                                              --------------

  Number of       5.       Sole Voting Power                  314,975
   Shares                                                     ---------------
Beneficially      6.       Shared Voting Power                436,950
  Owned by                                                    ---------------
Each Reporting    7.       Sole Dispositive Power             314,975
   Person                                                     ---------------
    With:         8.       Shared Dispositive Power           436,950
                                                              ---------------

9.       Aggregate Amount Beneficially Owned by Each Reporting Person

         751,925
         ----------------

10.      Check if the Aggregate Amount in Row (9) Excludes Certain
         Shares
                 --------
         The Reporting Person disclaims  beneficial  ownership of 718,250 shares
         owned by its clients.

11.      Percent of Class Represented by Amount in Row (9)

                                                             7.24%
                                                             ----------

12.      Type of Reporting Person                               IA
                                                             ----------



                                Page 2 of 7 Pages


<PAGE>
                                  SCHEDULE 13G
                               CUSIP NO. 929328102


Item 1.

         (a)      Name of Issuer

                  WSFS FINANCIAL CORP.
                  -------------------------------------------------------

         (b)      Address of Issuer's Principal Executive Offices

                  838 Market Street, Wilmington, DE, 19899
                  -------------------------------------------------------
Item 2.

         (a)      Name of Persons Filing

                  Quaker Capital Management Corporation
                  -------------------------------------------------------

         (b)      Address of Principal Business Office or, if none,
                  Residence

                  401 Wood Street, Suite 1300, Pittsburgh, PA  15222
                  -------------------------------------------------------

         (c)      Citizenship

                  Pennsylvania, USA
                  -------------------------------------------------------

         (d)      Title of Class of Securities

                  Common Stock
                  -------------------------------------------------------

         (e)      CUSIP Number

                  929328102
                  -------------------------------------------------------





                                Page 3 of 7 Pages


<PAGE>
                                  SCHEDULE 13G
                               CUSIP NO. 929328102



Item 3.           If this  statement  is  filed pursuant toss.ss.240.13d-1(b) or
                  240.13d-2(b) or (c), check whether the person filing is a:

     (a)  /   /     Broker of dealer registered under section 15 of the Act;

     (b)  /   /     Bank as defined in section 3(a)(6) of the Act;

     (c)  /   /     Insurance company as defined in section 3(a)(19) of the Act;

     (d)  /   /     Investment  company  registered   under  section  8  of  the
                    Investment Company Act of 1940;

     (e)  / X /     An investment adviser in accordance with  ss.240.13d-1(b)(l)
                    (ii)(E);

     (f)  /   /     An  employee  benefit  plan  or endowment fund in accordance
                    with  ss.240.13d-1(b)(1)(ii)(F);

     (g)  /   /     A parent holding company or control person in accordance 
                    with  ss.240.13d-1(b)(1)(ii)(G);

     (h)  /   /     A  savings  association  as  defined  in Section 3(b) of the
                    Federal Deposit Insurance Act;

     (i)  /   /     A church  plan  that  is excluded  from the definition of an
                    investment company  under section 3(c)(14) of the Investment
                    Company Act of 1940;

     (j)  /   /     Group, in accordance withss.240.13d-1((b)(l)(ii)(J)

Item 4.           Ownership
                  ---------

         (a)      The Reporting Person,  in its capacity as investment  adviser,
                  may be deemed to be the beneficial  owner of 718,250 shares of
                  the  Common  Stock of the  Issuer  which are owned by  various
                  investment   advisory  clients  of  the  Reporting  Person  in
                  accounts  over which the  Reporting  Person has  discretionary
                  authority. The filing of this report shall not be construed as
                  an  admission  that the  Reporting  Person is, for purposes of
                  Section  13(d) or 13(g) of the Act,  the  beneficial  owner of
                  these  securities.  Additionally,  the Reporting Person and/or
                  its  principals  and employees own 33,675 shares of the Common
                  Stock of the Issuer.



                                Page 4 of 7 Pages


<PAGE>
                                  SCHEDULE 13G
                               CUSIP NO. 929328102


         (b)      The  shares  covered  by  this  report  represent 7.24% of the
                  Common Stock of the Issuer.

         (c)      The Reporting  Person has shared voting and dispositive  power
                  over 436,950 shares and sole voting and dispositive power over
                  281,300  shares owned by its clients and held in accounts over
                  which it has  discretionary  authority.  The Reporting  Person
                  and/or  its  principals  and  employees  have sole  voting and
                  dispositive   power  over  the  33,675  shares  owned  by  the
                  Reporting Person and/or its principals and employees.

Item 5.           Ownership of Five Percent or Less of a Class

                  If this statement is being filed to report the fact that as of
the date hereof,  the reporting  person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following:
                                                                        --------

Item 6.           Ownership of More than Five Percent on Behalf of
                  Another Person

                  718,250 of the  shares  with  respect to which this  report is
filed are owned by a variety of  investment  advisory  clients of the  Reporting
Person, which clients are entitled to receive dividends on and the proceeds from
the sale of such shares. No client is known to own more than 5% of the class.

Item 7.           Identification  and  Classification  of  the  Subsidiary Which
                  Acquired the Security Being Reported on  by the Parent Holding
                  Company

                  Not applicable.

Item 8.           Identification and Classification of Members of the Group

                  Not applicable.

Item 9.           Notice of Dissolution of Group

                  Not applicable.


                                Page 5 of 7 Pages


<PAGE>
                                  SCHEDULE 13G
                               CUSIP NO. 929328102


Item 10.          Certification

                  By signing  below I certify  that, to the best of my knowledge
and belief,  the securities  referred to above were acquired and are held in the
ordinary  course  of  business  and were not  acquired  and are not held for the
purpose of or with the effect of  changing  or  influencing  the  control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as a participant in any transaction having that purpose or effect.
















                                Page 6 of 7 Pages


<PAGE>
                                  SCHEDULE 13G
                               CUSIP NO. 929328102



                                    SIGNATURE

                  After  reasonable  inquiry and to the best of my knowledge and
belief,  I certify  that the  information  set forth in this  statement is true,
complete and correct.


                                   QUAKER CAPITAL MANAGEMENT CORPORATION


                                   February 12, 2001                  
                                   -----------------------------------
                                                   Date


                                   /s/ Mark G. Schoeppner             
                                   -----------------------------------
                                                 Signature


                                   /s/ Mark G. Schoeppner, President  
                                   -----------------------------------
                                                Name/Title










                                Page 7 of 7 Pages