Roosevelt Island Bank Update - RIOC Gives Promotional Tour Offering Sportspark And Former Amalgamated Sites For Location, Assembly Member Rebecca Seawright Arranged Tour And Says 5 Banks Showed Interest In Roosevelt Island

The Roosevelt Island Operating Corp (RIOC) announced October 28:

On Monday, October 25th, Roosevelt Island Operating Corporation (RIOC), with support of elected officials, the Roosevelt Island Resident Association (RIRA), Community Board 8 and other community representatives, held an open house for financial institutions interested in bringing a full-service branch to the island. Those in attendance toured two locations on the island. They were also offered a Red Bus tour of the island and engaged in a Q&A session to better understand our unique community. We look forward to updating the community as discussions continue. 

The two locations RIOC presented as possible bank locations were space at a renovated Sportspark (250 Main Street) and the former Amalgamated Bank site (619 Main Street) which closed in September 2020.

Here's the promotional brochure RIOC prepared for the bank presentation.

RIOC declined to invite members of the Roosevelt Island media to cover the Bank Open House that included elected officials and several local residents in attendance.

In reply to my question about the Roosevelt Island Bank Open House, NY State Assembly Member Rebecca Seawright reported:

Our aggressive marketing and recruitment campaign garnered five banking institutions with deep roots in New York and a strong affinity for community banking. Senior representatives from Apple Bank, TD Bank, Metropolitan Commercial Bank, Ridgewood Savings Bank, and New York Community Bank came to our open house with great interest in learning more about the growing economy and the vibrant residential and educational communities on Roosevelt Island. They asked many good questions and visited several attractive venue opportunities.

At my request, representatives from the state Department of Financial Services attended to explain the state Banking Designation District, or BDD, designation for the island. This program offers an attractive $10 million in subsidized public deposits and other benefits. 

These conversations are continuing with several state agencies. The feedback has been positive, productive, and helpful. I am grateful for the strong cooperation of my partners in government, including Representative Carolyn Maloney, State Senator Jose Serrano, and Councilman Ben Kallos.

Image From Rebecca Seawright October 29 Newsletter

NYC Council Member Ben Kallos adds:

It was a pleasure touring potential sites to bring a bank back to Roosevelt Island, alongside Manhattan Borough President Brewer and Assembly Member Seawright. Several banks joined us, and if we are able to get this going soon, it will be a testament to the community's efforts and the real need for a local bank on the Island.