Spring Bank is an FDIC-insured community bank headquartered in the Bronx, New York. In 2007, the bank opened in the South Bronx, the only bank to establish its base in this New York borough in over a quarter century. Spring Bank has been designated by the U.S. Treasury as a Community Development Financial Institution (CDFI), in recognition of the investments and loans the bank makes in low- and moderate-income communities in New York City.
In 2016 we became a Certified B Corp, joining a for-profit, for-mission movement of companies recognized for socially responsible business practices. As a B Corp, we are accountable to our customers and measure our progress in meeting the impact goals we have for our bank. We aim to continually improve the social benefits we provide to our stakeholders. In all of our objectives, we seek alliances with nonprofits and other CDFI’s, community banks, and credit unions to leverage our ability to reach as many consumers and small businesses as we can and to support the important work of our peers and partners.
About Us
Becoming a B Corp
We are proud to be New York’s first B Corp-certified bank and the highest-rated B Corp bank in the United States. We believe our certification reflects the importance we place on ethical business practices and the well-being of our employees, our customers, our community and our planet.
In neighborhoods where the use of high-cost fringe financial products like check cashing and money transmitters is more the norm than the exception, we seek to create innovative depository and loan products designed to help unbanked and underbanked consumers avoid getting trapped in cycles of debt and build wealth. Mainstream banks have traditionally neglected these consumers or set up accounts that end up costing more to poor consumers than fringe financial products. We are constantly innovating affordable financial products based on the needs of our community in order for our communities to thrive.
Supporting the individuals who live and work in the communities we serve.
Growing Small Businesses
Small businesses are vital to the U.S. economy and to the revitalization of urban communities such as the Bronx. Our goal is to provide capital and services to these businesses so that they can continue to provide jobs for our neighbors and keep wealth from leaving the communities that need it most. We seek to encourage entrepreneurship, and be a resource and a partner to entrepreneurs and small businesses throughout the New York area, offering loans ranging from micro to multi-million-dollar financing and serving businesses as an SBA Preferred Lender.
Owner-occupied, multifamily, and mixed-use properties are core community assets. Our commercial real estate loans help ensure continued capital investment in the communities where New Yorkers live and work.
Supporting Community Real Estate
Banking for Nonprofits
Serving the organizations, small and large, that support the community is an important part of our mission. The institutions that provide so many critical services deserve a bank that provides free banking services and access to lines of credit to bridge any funding gaps and loans to help grow their programs.
Schedule an Appointment
Ready to grow with us? Come in and talk to one of our account managers to see how we can help. You can open a checking account, apply for a loan, open an IRA account and much more. Use the form below to schedule an appointment:
Have any questions? Stop by a branch or call us at (718) 879-5000.