NEW YORK–(BUSINESS THREAD)–Apple Bank announced today that Ukrainian citizens who have recently arrived in the New York City area and are hoping to access financial services can now open an account with the Bank by visiting any of its 82 branches. This gives them access to the core banking services they need to pay bills, make payments, withdraw money and set up payroll direct deposit. For many Ukrainian refugees arriving in the United States, accessing basic financial services often presents considerable difficulties. Apple Bank recognizes the importance of helping individuals and families rebuild their lives by providing them with the critical financial solutions they need to do so.
This program reflects Apple Bank’s long history of working to support the financial inclusion of refugees in the United States. Founded in Harlem in 1863, Apple Bank traces its roots to the Haarlem Savings Bank and the German Savings Bank, both of which provided vital banking services to immigrants moving to New York from Germany and other European countries in the 1930s and forty Since then, Apple Bank has expanded online and across the five boroughs of New York City, Long Island, Westchester and Rockland counties, building long-term relationships by offering affordable, reliable banking products and exceptional personal service to neighborhoods it serves, with plans to open. soon in certain New Jersey communities.
Apple Bank is pleased to join other local organizations such as non-sectarian lenders Hebrew Free Loan Society (HFLS) to help Ukrainian nationals with their financial needs. HFLS offers interest-free loans to low- and moderate-income New Yorkers facing financial challenges, and Apple Bank hopes that Ukrainian nationals who take advantage of the services offered by HFLS and/or Apple Bank will benefit from strengthening their financial health.
Steven C. Bush, chairman, president and CEO of Apple Bank, said: “We are proud of our local community involvement, providing services that are essential for our customers to take control of their finances and access more opportunities . Amidst the ongoing conflict in Ukraine, we are committed to helping ease the transition for Ukrainian nationals moving to New York and appreciate the cooperation of the Hebrew Free Loan Society.
Kim Kaplan, president and CEO of the Hebrew Free Loan Society, said, “HFLS is proud to continue our 130-year tradition of providing new immigrants with the means to resettle and build new lives in America. We are looking forward to helping Ukrainian newcomers through our interest-free loans and connecting them with Apple Bank.”
About Apple Bank:
With a full suite of banking, lending and investment products for both individuals and businesses, Apple Bank helps tailor banking solutions to individual needs. We live and work alongside our customers in the communities we serve, and this helps us understand the local financial needs of our neighbors. In 2021, Apple Bank marked its 30th consecutive year of uninterrupted profitability. Prudent financial and risk management has allowed the Bank to remain solidly profitable, with good credit quality and low levels of delinquency, despite the challenges arising from the pandemic. Our balance sheet is made up of high-quality loans and securities, and our capital ratios exceed all regulatory requirements. As New York State’s second-largest savings bank, Apple Bank has $16.1 billion in assets as of December 31, 2021, and $14 billion in deposits. More information at applebank.com
About Hebrew Free Loan Society:
The Hebrew Free Loan Society (HFLS) fosters financial stability and opportunity among lower-income New Yorkers by providing access to safe and affordable credit in the form of interest-free loans. HFLS loans allow borrowers to attend college, improve their job skills, start a business, and respond to unexpected financial challenges. HFLS is a non-sectarian lender, serving the New York City area since 1892. In that time, HFLS has provided more than $380 million to more than 900,000 borrowers. More information at HFLS.org.
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