Thursday, May 28, 2009

Amalgamated Bank To Take Over From New York National Bank Starting July 20 - Will This Bank Be Able To Stay In Business On Roosevelt Island?

Click On Image To Read Letter

RIOC President Steve Shane forwards the above letter from NY National Bank. According to the letter, Amalgamated Bank will assume the Main Street lease of NY National Bank and open a branch starting July 20 subject to regulatory approvals. The Roosevelt Island NY National Bank will close on July 17.

It will be interesting to see if the new Amalgamated Bank Branch will offer any services not offered by previous Roosevelt Island banks all of whom eventually closed up shop. As I recall, there was a Manufactures Hanover, Chemical and Chase Bank all of whom chose to leave the same Roosevelt Island location prior to the latest decision by NY National. Hope Amalgamated can do better.

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