Amalgamated Bank To Open Full Service Roosevelt Island Branch On July 20
Image of NY National Bank soon to be Amalgamated Bank from RI 360
RIOC President Steve Shane forwards the press release below announcing that Amalgamated Bank will be assuming NY National Bank's lease for 619 Main Street and opening up a branch office at that location starting July 20.
There has been a constant turnover of Bank Branches on Roosevelt Island for many years. 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. UPDATE 2:45 PM - Assembly Member Micah Kellner has more on Amalgamated Bank opening a branch on Roosevelt Island.New York National Bank and Amalgamated Bank Jointly Announce Arrangement to Continue Branch Banking on Roosevelt IslandRoosevelt Island, New York – July 13, 2009 – New York National Bank (NYNB) and Amalgamated Bank (Amalgamated) have announced an agreement involving NYNB’s branch at 619 Main Street on Roosevelt Island. Under the arrangement, Amalgamated will assume NYNB’s lease of its Roosevelt Island space and open a new full service branch at the Main Street location on July 20. NYNB announced in February that it was closing its Roosevelt Island branch on June 5, 2009. To facilitate the smooth transition with Amalgamated, NYNB will keep the branch open until July 17. “Closing our Roosevelt Island Branch was an unavoidable and difficult business decision,” said James J. Landy, President and Chief Executive Officer of NYNB. Since announcing the closure, we have worked with Amalgamated Bank to ensure that a full service branch will continue to serve the community. We are proud of our history of service to our customers and to the people of Roosevelt Island.” Amalgamated Bank has always served working families through its branch network and has actively supporting the Roosevelt Island community. For example, Amalgamated Bank organized a Halloween Gala for hundreds of children, tweens and their parents at the Roosevelt Island School (PS/IS 217). The Bank also sponsored the annual holiday tree lighting ceremony that is held in front of the Blackwell House and the Roosevelt Island Health Fair that is held in May each year. “During these events, we talked with many residents and developed an appreciation for their need to have a convenient bank on Roosevelt Island,” said Derrick D. Cephas, President and Chief Executive Officer of Amalgamated Bank. “We’re known as the Bank that works hard for working people. Now, we have an opportunity to serve our new neighbors by providing our array of affordable banking products and services.” As a convenience for existing NYNB customers and all residents of Roosevelt Island, Amalgamated will take new account applications at the 619 Main Street branch before the planned July 20th opening date. Consumers and businesses can meet with the Amalgamated’s representatives at the branch on Tuesdays and Thursdays from 11 a.m. to 4 p.m. through July 16. Any accounts opened in this manner will be held at Amalgamated’s Long Island City branch until its new Main Street branch opens for business. Accounts of current NYNB customers on Roosevelt Island, who choose to continue banking with NYNB, will be automatically transferred to the NYNB’s East Harlem Branch as previously announced. Or, they can continue to bank at other New York National Bank branches in the Bronx and Manhattan or any branch of its sister bank, Hudson Valley Bank....
... As a member of the Assembly’s Committee on Banks, I worked with Committee Chair Darryl Towns to ask the State Banking Department to designate Roosevelt Island a BDD. I am thrilled to announce that on July 6, the NYS Banking Department agreed to the designation. This means that public funds will be deposited in the new Amalgamated Branch, providing the security it needs to serve as a reliable long-term bank for Roosevelt Islanders. Island residents can take comfort in having a local bank that will be around for many years to come.
2 comments :
A lot of the turnover was because of changes in the banks that had nothing to do with Roosevelt Island. Manufacturers Hanover merged into Chemical, then Chemical and Chase merged. So it was really only Chase and now NY National that closed here.
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