best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

Having an ID is crucial for so many reasons when navigating New York City. However, many young people and foreign-born US residents don’t have state or city IDs. Fortunately, New York City offers IDNYC, a municipal identification that allows New York City residents to access various services and programs. We are one of the only New York City banks that has accepted IDNYC as an acceptable form of identification for opening personal checking and personal savings accounts — since the program’s inception.

Launched in 2015, IDNYC is the most extensive and most effective municipal ID program in the United States; over 1.4 million New Yorkers use it! A key benefit is that it’s accepted widely for everyone – regardless of immigration status. In addition, you can start your banking relationship using IDNYC.

Here are 5 Reasons to Get an IDNYC:

You can open a personal checking account: One common misconception is that you must have a NY State ID or US Passport to open a personal checking account, but that’s not true. When you bank with us, you can use an IDNYC to open a personal checking account; it’s the perfect tool to get your finances in order.  One example: when you don’t have a personal checking account, cashing checks can be expensive. Luckily, cashing checks with our personal checking account is 100%, free and it’s one less expense to worry about.

You can start building credit: Sometimes, we need to get a personal loan to accomplish our financial goals. That’s why it’s so important to develop and have good credit. We accept IDNYC for our consumer lending products. For example, we offer a low-interest rate Credit Builder Loan – up to $1,500 – that can help you build credit. So, use your IDNYC and apply for a personal loan with us today!

You can access government benefits: An ID is required for using NYC government services. While an IDNYC won’t let you access federal or state benefits, you can still access city benefits. Some of these services include but are not limited to qualifying for affordable housing through NYC Housing Connect and proving identity for employment and health benefits. It can also be used as a library card. There are so many government services that accept IDNYC, learn about them here.

You save money: If you have an IDNYC, you can get free or reduced admissions into many of our city’s museums, theatres, and art galleries. Additionally, you can get discounts at major recreational and entertainments events such as concerts and sports games. That doesn’t even include the discounts for prescriptions, transportation, groceries, and more. You can put those personal savings in our personal savings account, which you can also open using your IDNYC. Our personal savings account will keep your money safe and secure. It’s a win-win situation.

Your identity is 100% safe: An IDNYC is not an immigration enforcement tool; it is purely an ID you can use to access city services. The city government will never share your private information with immigration enforcement agencies because it prizes your privacy. Additionally, if you are ever the victim of a crime, you can use your IDNYC. The NYPD accepts IDNYC as a valid form of identification and will never contact immigration authorities should you need their services. As it is for you, privacy is of the utmost importance to us.

Have questions? Visit our blog to learn more. Apply for an IDNYC here. For a complete list of IDNYC benefits, click here. Already have an IDNYC and are interested in our services? Click here. Need more reasons to open a personal checking account? Check out our blog on 5 Reasons to Open a Personal Checking Account here.

best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

It’s never the wrong time to save for the future. Having personal savings that you can dip into for your future or in case of an emergency is the key to a robust financial future. But saving, especially in a pandemic, is not easy. Luckily, we have one of the best savings account options that can help you store cash securely with no added cost. And, thanks to our competitive interest rates, you can grow your personal savings to secure a healthy future.

Your financial freedom is most important to us. That’s why we offer several personal savings account options designed with you and your objectives in mind. From a basic savings account to a Roth IRA to a Club savings account, we give you the option to choose one of the best savings accounts and meet your financial goals. But economic freedom is more than having options; it also means having control over your own life.

When you have a lot of personal savings, money becomes less of a constraint. Money guides many aspects of our lives; where we live and go to school is determined by how much money we make and have access to. But, when you have more personal savings, you have more choices. Even if you only put aside $100 a month, it can go a long way; compound interest allows you to earn a return on every dollar saved.

We help our clients increase their financial freedom by offering one of the best savings account rates available. When you deposit your money in one of our personal savings accounts every year, your money increases in value – and you don’t have to do a thing! Invest in your future by opening a personal savings account.

Freedom comes in many shapes and forms. Not only does it mean having the ability to choose how you spend your money, but it also means having the ability to choose how you spend your time. For example, waiting in long lines at your local bank branch to manage your personal savings is a hassle. We remove that hassle by offering a 100% online personal savings account.

With our online banking system and app, you have 24/7 access to your personal savings when you want them and when you need them. Having an online personal savings account means you can deposit checks and transfer money all from the comfort of your own home. Managing your time and finances has never been easier. Whether you are saving for retirement or your dream home, we can help.

Don’t wait to save; get started on the path to personal and financial freedom by opening a personal savings account today. You can apply for a personal savings account online or contact us to see what options best suit your needs. Questions? Learn more about why we have one of the best personal savings accounts here.

best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

In pre-COVID times, settlement houses worked tirelessly to address inequalities in our communities by providing vital services that include housing assistance, meal delivery, job training, and mental health support. Now, in a pandemic crisis that has both exposed and exacerbated economic, racial, and gender inequality, our city has come to rely on their services more than ever. Thankfully, as they did over 100 years ago in our city’s last pandemic, settlement houses have relied on the invaluable advocacy and support of United Neighborhood Houses (UNH) to carry out and improve their work.

Founded at the height of the Spanish flu of 1918-1919, United Neighborhood Houses, has been an organizer for the settlement house movement, working to create stronger communities and long-lasting social change. Today, they represent 45 settlement house member organizations that reach 765,000 New Yorkers annually. But what is a settlement house exactly?

“A settlement house is a nonprofit organization that offers services for all ages, but that also involves the community in its programming,” explains Jennifer Weil, Director of External Relations at United Neighborhood Houses. “Settlement houses exist to build strong communities, meaning they offer intergenerational and volunteering programming that depends on community input and engagement. It’s an attitude and approach rooted in reciprocity.”

Sharing resources is at the core of what settlement houses do – and it’s certainly at the center of what UNH does. For example, UNH brings settlement houses together to create forums where members can share their knowledge and expertise to improve their services and practices and advocate for better policies for their communities. And, in the early fog of the pandemic, UNH provided a space to bring people together for clarity and support.

“At the height of the pandemic, we organized hundreds of virtual gatherings so our members could share their experiences and any useful information they learned along the way,” says Jennifer. “Our peer groups took on a new urgency as this was a crisis none of us had ever experienced in our lifetimes.”

One program some settlement houses recommended was our very own Employee Opportunity Loan Program. Our EOL program allows participating small businesses to provide their employees with access to small-dollar loans­ and free financial counseling. In normal times, we offer this program for companies looking to help their employees build personal savings and credit for the future. However, in an economic crisis where settlement houses were forced to furlough employees, our EOL was a lifeline, helping small businesses retain employees and helping employees bridge immediate gaps in cash flow.

“Our members that have used the Employee Opportunity Loan program can’t stop raving about it,” says Angela Perry, Director of Member Services. “We’ve already had seven of our members participate in the program. We are so proud to have played a role in helping our members access the information they need to navigate this pandemic.”

We are so lucky to have partners who connect their clients to their local community bank in New York and who share our commitment to supporting mission-driven organizations. As our city continues to recover from this pandemic, UNH’s mission to build resilient New York neighborhoods is more crucial than ever. That’s why we invite you to join their virtual benefit event, New Yorkers Who Make a Difference, on October 25th at 6:30 pm. You won’t regret it.

Learn more about our personal savings account, personal checking account, and small business accounts on our website. We also invite you to see how settlement houses put their mission into action by reading our blog on BronxWorks. Let’s work together to make our city stronger.

Spring Bank Staff Profile

best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

When we became the first bank in The Bronx to headquarter there in decades, we knew that hiring locally was crucial to understanding our customers’ needs. Many of our staff at our Bronx branch live and work in The Bronx. It goes back to our belief that the best way to serve our community is by working with the people who know it best. Germarie Medina has lived on 167th St for over 20 years and worked at Spring Bank for four of them.

“I love working for a community bank in my neighborhood,” she says. “Not only do I get to interact with many of the people that I grew up with, but I also get to provide them a service that I know will benefit them.”

Germarie started working with us as a Teller and then a Greeter when she was a junior in college. She became familiar with our products and helped guide our clients to their needed support in those roles. We were so impressed with her outreach and ease with community members that we offered her an internship in our consumer lending department.

Our consumer lending department offers various personal lending products. One of Germarie’s favorite to recommend is our Credit Builder Loan. It allows clients to save while improving their credit score, the two most essential attributes to financial independence. There, Germarie quickly mastered the process of helping underserved community members apply for a personal loan. Still, she also had her first opportunity to address the obstacle we exist to remove – financial illiteracy and exclusion.

“I provided a more human and holistic approach that allowed clients to get the personal loans they needed but could not get elsewhere because of credit and income issues,” Germarie explains. “It was a great opportunity because I’m from this community!”

Her passion for The Bronx and ability to help people get a personal loan left an impression. As soon as she graduated, we offered her a position as a Credit Analyst in our commercial lending department. At the time, she was considering a career in investment banking, but the call to serve her community was stronger.

Today, as a Credit Analyst, she uses her local and financial expertise to help our small business and real estate customers access the credit lines and commercial loans they need to accomplish their goals. She also continues to combat the financial illiteracy she first encountered when she was an intern.

“Many of our small business clients lack the financial literacy to apply for our financial products,” she says. “But I don’t give up on them. Instead, I meet with them one-on-one and offer them personalized services that give them the time and space to bolster their applications, so they can get access to the products they need.”

We offer a variety of financial products that aim to stimulate growth and opportunity in The Bronx. Whether it’s a personal checking account, a business checking account, or a personal loan, we tailor our products to meet the needs of our community. But the most important thing we offer is our individualized approach.

“Spring Bank’s mission is to create a world where all people have opportunity and access to building prosperous futures: I believe I am living proof of Spring Bank’s mission,” says Germarie.

After witnessing Germarie’s impact over the years, we couldn’t agree more. Learn more about how we make our mission a reality by reading our staff profile on Barry Mann here. Get a firsthand look at the perks of banking with a community bank by opening a personal checking account or a small business account with us today!

best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

All United States residents, regardless of immigration status, are required by law to pay taxes. In addition, the IRS monitors how much we’ve spent and how much we’ve earned. For US citizens and residents, that identification comes in the shape of a nine-digit number called a Social Security Number. In addition to helping us file our taxes, Social Security Numbers are universal identifiers that we use for all sorts of things, such as opening a bank account, applying for a background check, and qualifying for government benefits.

If you are a US resident but are not eligible for a Social Security Number, don’t worry, there’s an alternative: An Individual Taxpayer Identification Number or ITIN. An ITIN is a nine-digit tax processing number that non-citizens must use to file their taxes with the IRS. While an ITIN does not authorize work in the US or provide eligibility for social security benefits and other government benefits, there are many advantages to having an ITIN. Below, we outline six reasons why you should get an Individual Taxpayer Identification Number:

You can open a personal checking account: One common misconception is that you need a social security number to open a personal checking account, but that’s not true. With us, you can use an ITIN to open a personal checking account; it’s the perfect tool to get your finances in order.  One example: when you don’t have a personal checking account, cashing checks can be expensive; luckily, cashing checks with our personal checking account is 100% free. It’s one less expense to worry about. Don’t miss out on this benefit, and many more, by applying for an ITIN today!

You can start building credit: Sometimes, we need to get a personal loan to accomplish our financial goals or recover from hard times. That’s why it’s so essential to build and have good credit. There are numerous banks, including us, that take ITINs for their consumer lending products. We offer a low-interest rate credit building loan –up to $2,500 – that helps you access money when you need it while building credit and savings. So use your ITIN & apply for a personal loan with us today!

You can qualify for tax credits for your children: If you have children with Social Security Numbers and have filed your taxes using an ITIN, you may be eligible for government benefits to support your family. Thanks to the newly expanded Child Tax Credit, parents with kids under the age of six can get up to $3,600 annually, or up to $3,000 annually for kids between 6 and 17. Save your tax refund and build a more secure financial future for your family by opening a personal savings account. We have the best savings account online. Try it now!

You can purchase affordable health insurance for your children: Under the Affordable Care Act, ITIN holders are not eligible to buy health insurance; their US-born children, however, are. To purchase health insurance for their children, parents with ITINs must file their taxes. Then, once the Open Enrollment Period opens, parents can access affordable health insurance for their children. Your health, not just your financial health, is a priority for us. We encourage you to visit healthcare.gov to learn more.

You can save for your retirement: All taxpayers pay into Social Security regardless of immigration status. As of now, ITIN holders are not eligible for Social Security benefits. If, however, you become eligible for a Social Security Number in the future, the government will calculate your benefits using your entire tax record – including the years you paid taxes with an ITIN. And, if you do not become eligible for a Social Security Number, we have options. Our personal savings accounts are compatible with conventional or Roth IRA; they are perfect for looking to grow their money for retirement! The future will be here faster than you know it, don’t wait!

Your identity is 100% safe: An ITIN is not an immigration enforcement tool; it is purely a taxing filing tool. The IRS will never share your private information with immigration enforcement agencies because it believes that privacy is the key to tax compliance. For that reason, Section 6103 of the Internal Revenue Code prohibits the IRS from releasing taxpayer information to other government agencies. For you, privacy is of the utmost importance to us; we use the strictest of security measures to protect your personal information. You can trust us!

If you don’t have an ITIN, we invite you to contact our partners at Ariva Inc. Ariva is a nonprofit that offers free financial counseling and free tax preparation services for low-income New Yorkers. Not only do they help clients apply for ITIN numbers, but they can answer any questions you might have about filing your taxes, purchasing health insurance, or building wealth.

Have questions? Visit our blog to learn more about our partnership with Ariva and contact them today! Already have an ITIN and are interested in our services? Click here. Need more reasons to open a personal checking account? Check out our blog on 5 Reasons to Open a Personal Checking Account here.

best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

Across the five boroughs, thousands of nonprofits deliver vital services and programs that keep our city safe, healthy, and prosperous. And yet, despite their foundational role in our city, they are too often ignored by large banks. As a community bank in New York City, we see how much our city benefits from nonprofits. That’s why we offer a nonprofit checking account that is 100% free and easy to use.

Our nonprofit checking account has no minimum balances, no monthly fees, and no overdraft fees; it’s our way of paying it forward. We are grateful for the role of nonprofits in strengthening our communities and helping our neighbors in need. As a mission-driven organization ourselves, we believe one crucial way we can support our community is by offering a nonprofit checking account without fees or hassles that allows you to focus on what matters most, your mission.

We know that running a nonprofit is a 24/7 job because our community’s needs are 24/7. The work never stops. That’s why our nonprofit checking account is easily accessible through our website or our app. With these settings, you can easily manage your finances from home or while you’re on the go. Our nonprofit checking account allows you to have access to your money whenever you need it so you can continue to make a difference in our city.

Throughout the pandemic, nonprofit organizations have been a critical lifeline for our city and community. When people have needed help, nonprofits — like our friends at BronxWorks, The Bronx Health & Housing Consortium, Ariva & many others — have provided it. Yet, despite their crucial role, nonprofits have been among the hardest hit by the pandemic primarily because they have been historically excluded from lending and funding options typically reserved for for-profit businesses. Our nonprofit checking account counters this trend.

In addition to helping you manage your organization’s budget, our nonprofit checking account gives you access to our award-winning banking team. Our team can help you find funding and lending opportunities that can help you grow your organization and support its mission. For example, last year, at the height of the pandemic, we secured PPP loans for 53 nonprofits – many of them nonprofit checking account holders – valued at $53 million.

With these funds, nonprofit organizations not only continued to serve our city when it needed it most, but they also retained thousands of jobs. Again, it goes back to our commitment to our city’s financial health. As our city begins its long road to recovery, nonprofits will once again play a crucial role. We will continue to support nonprofits in their efforts to rebuild with our nonprofit checking account and specialized lending program.

We invite you to open a nonprofit checking account today. If you are interested, you can also read more about our PPP lending program here. Visit our blog to see how our nonprofit services have helped local nonprofits like The Lehman Center for the Performing Arts and DreamYard.

A Spring Bank Small Business Story

best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

The pandemic has been tough on all of us: Lockdowns, social distancing, and of course, a health crisis are not easy things to navigate. But the pandemic has also been an opportunity, an opportunity to step back, think about our top priorities, and recalibrate. This was certainly the case for Brian Taylor, a small business owner, and dog groomer. Since 2010, he has owned and operated Harlem Doggie Day Spa, a cage-free boarding, daycare, and grooming facility in Harlem.

“Before the pandemic, I had 13 full-time employees and was servicing 500 dogs a month,” Brian explains. “I was open seven days a week and planned to expand my hours from 7 am to 9 pm. But then COVID happened, and I lost 90% of my business.”

Like so many small businesses in New York City, Harlem Doggie Day Spa was forced to shut its doors. Debts quickly piled up, and soon, personal tragedy hit; Brian lost his uncle and one of his professional mentors to COVID-19. But rather than give up, Brian decided to give back.

“Animals helped so many people get through the pandemic, but many people couldn’t afford the pet care they needed,” Brian says. “I knew I had to do something, so I began offering free grooming services to people in my Harlem community. I teamed up with local nonprofits to find pet parents in need, but I also began wondering how I could expand my services nationwide.”

In April 2020, Brian launched the first “Pup Relief Tour.” The idea was to tour different cities across the United States­ to spread awareness about African Americans in the pet industry and to uplift the pet community by offering grooming services at no cost. He was on the road by July 2020 – with $20,000 from crowdfunding and support from the Black Groomers Association.

“We safely set up pop-up pet grooming stations across New York City, Washington DC, Wilmington, North Carolina, Atlanta, and Los Angeles,” Brian explains. “In each spot, we invited local groomers to help us groom as many as 200 dogs. So, when the tour concluded, we had over 70 dog groomers join us to rescue and groom over 2000 dogs.”

The tour was such a success that Brian turned it into an annual affair. This year, he raised over $75,000 and brought his pet grooming services to Philadelphia, Birmingham, Orlando, Fort Wayne, and Las Vegas; he recruited over 90 groomers and groomed 1461 dogs.

“I’ve had so much fun doing these tours,” Brian says. “I love connecting with people in the industry and giving back. Business is not the same as it used to be. I still have debt. But the tours, along with the support I received from Spring Bank, have given me the motivation to keep working.”

Harlem Doggie Day Spa is one of our long-time small business account clients. So, when the pandemic hit, Jason Ohene, who works at our Harlem branch, got to work and helped Brian secure $38,000 in PPP funding to keep the lights on and keep supporting the pet community in New York City beyond.

“With Spring Bank, I had a bank that put me and my business first,” Brian says. “My friends who had bank accounts at larger banks did not, and many struggled to secure the PPP funding they needed. But, thanks to Spring Bank, I had nothing to worry about.”

The funds have not only helped Harlem Doggie Day Spa stay open, but they have also given a Brian a chance to step back and chart a new, more fulfilling career path.

“After eleven years, my business needed a rebirth. The pandemic gave it to me,” Brian says. “I have a smaller staff, and we’re grooming fewer dogs. But we’re giving our clients a better-quality service. The focus is on deepening our relationships.”

As a community-focused bank in New York City, we have seen how relationships are the key to making small ideas into significant change. Thanks to our relationships with mission-driven organizations like Harlem Doggie Day Spa, we have been able to support trailblazing initiatives that put people, and in this case, animals, first. We cannot wait to see how Brian continues to give back and chart new paths for the pet industry.

Build a relationship with us by opening a business checking account with us today! Like Harlem Doggie Day Spa, as a small business account holder, you’ll have firsthand access to our banking team, which can help you get access to the financial products you need to grow and transform your business. To learn more about Harlem Doggie Day Spa, visit their website. If you would like to see another Pup Relief Tour, donate to Brian’s GoFundMe here. And finally, check out this New York Times feature on Brian’s work.

best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

Managing your finances can be challenging. Having a personal checking account with a community bank like us makes it easier. When you open a personal checking account, you create a safe place for your money to keep track of your finances and build a vital banking relationship. We all have financial goals; a personal checking account is a powerful tool to reach them. If you do not currently have a bank account, here are five reasons why a personal checking account with us can benefit you:

  1. Keep Your Money Safe. Keeping your money at home–even if it’s in a safe place–is risky. When you open a personal checking account, your money has a paper trail. Federal laws protect your personal checking account from fraud and erroneous transactions. In addition, our bank accounts are backed by the Federal Deposit Insurance Corporation (FDIC), which means your money is insured for up to $250,000 per person. Keeping your money in a bank account keeps it safe.
  2. Access Your Money from Anywhere: When you deposit your money in a personal checking account, you can access your money simply by swiping your debit card. And if you need cash, you have access to a network of no-fee ATMs where you can withdraw money. With us, you not only have access to ATMs at our two branches in The Bronx and Harlem, but you also have access to any ATM in the MoneyPass and Citibank domestic branch networks for free.
  3. Build a Banking Relationship:  You also establish a relationship when you open a personal checking account with your bank. You gain access to a banking team that can introduce you to financial products, like our personal loan of up to $2500, to help you achieve your financial dreams. As one of a few community banks in New York City, we take pride in getting to know our customers. We offer personalized services that help our clients­ – whether they have a personal checking account or a business checking account – gain access to wealth-building opportunities they can’t get elsewhere.
  4. Pay Bills & Send Money Effortlessly: If you don’t have a bank account, transferring money to your loved ones or paying a bill can be extremely time-consuming. A personal checking account gets rid of the hassle. A bank teller can make the transfer for you, or even better, use a mobile app. We offer a user-friendly app and online banking system that allows you to transfer money or pay bills in seconds from home or when you’re on the go.
  5. Manage Your Finances:  It’s easy to lose track of how much money you are spending when you don’t have a record of your transactions. When you open a personal checking account, you can see your income and expenditures online and create a budget that works for you. If you are interested in saving, you can open a personal savings account that connects to your personal checking account. We offer an automatic savings transfer option that can help you increase your personal savings for a rainy day or a future goal.

Financial inclusion is what we do and strive for: We believe that everyone should have access to their money when they need it. That’s why we offer an extensive ATM network and an app that allows you to access your money from wherever you are. We also believe that everyone should have a bank account.

Please let us know how we can help you achieve your financial goals by opening a personal checking account.

best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

At the height of the pandemic, The Bronx grappled with higher rates of Covid infection and unemployment than other boroughs of New York City. Despite several years in which there was a positive change on many fronts, The Bronx struggle became more acute during the pandemic.

But for BronxWorks, a human service organization founded in 1972, stepping up in a time of crisis was nothing new. Their mission of helping Bronx residents improve their economic and social well-being has stayed consistent. Their approach, however, has changed and adapted to the needs of our community.

Initially focused on helping seniors resolve housing disputes, today, BronxWorks, serves 64,000 people and offers a diverse set of programs that include jobs training, health and wellness programs, adult and family homeless services, HIV/AIDs education, and food support. So, when the pandemic hit, BronxWorks did what it has done for fifty years: adapt to meet the community’s most pressing needs. 

“As a social service organization, many of the programs we offer are essential: it wasn’t a matter of if we were going to offer our programs, it was a matter of how,” explains Gianna Dell’Olio, Director of Advancement and Communications at BronxWorks.

Before the pandemic, BronxWorks operated three food pantries for food-insecure residents. However, once it became clear that residents were losing their jobs, BronxWorks recognized that food insecurity was about to skyrocket. Quickly, they increased their food pantries from three to twelve to meet the emerging demand and added food delivery services for the most vulnerable residents.

“Food insecurity may not be as acute as it was at the start of the pandemic, but it remains a challenge,” explains Eileen Torres, Executive Director of BronxWorks. “To help The Bronx recover, we’ve committed to maintaining six food pantries to provide food to families facing economic hardship. We will continue to adapt our programs as more needs emerge.”

But BronxWorks didn’t just focus on food; they also concentrated on providing internet and Wifi accessibility. Over 500,000 households in New York City lack internet access. A disproportionate number of those households are in The Bronx. So, when lockdowns and social distancing measures pushed education and finance, food support, and health services online, many families lacked access to the help they needed. Thankfully, BronxWorks was there.

“We maintained staff at our traditional walk-in locations,” says Eileen. “We knew that newly unemployed people – many of them without internet access – needed in-person assistance applying for benefits, many for the first time. We were right. At last count, 14,000 people connected with BronxWorks at our walk-in locations.”

We are proud to partner with an organization that embodies our commitment to offering flexible products and services that prioritize our community. As The Bronx begins on the road to recovery, we invite you to support BronxWork’s service by donating to their Building Better Futures Fund. Let’s help them continue their work for another 50 years! Visit their website to learn more about the vital programs they offer. Want to understand how our partnership works? Find the answer here.

best savings account online, new business bank account, banks in ny, business checking account, small business accounts, apply for personal loan, open business account online, personal savings, personal checking account, personal savings account, banks in bronx new york

Every entrepreneur needs a small business account to monitor daily expenses and make financial projections. But, our small business account goes a step further. When you open a business checking account,  you also get access to our award-winning banking team that can help you expand or reimagine your venture.

As a small business ourselves – and as a community bank in New York City – we know that thriving small businesses are the key to flourishing communities. After all, most of our country’s firms are small businesses. So when you open business checking account with us, we get to know you and give you firsthand access to innovative and affordable financial products that put you one step closer to accomplishing your dreams. Unlike larger banks that typically prioritize large corporations, we listen to our community. As a result, we prioritize our small business account clients in our small business lending efforts with loans starting at $10,000. And we are an SBA Preferred Lender.

Just look at our PPP lending efforts. In 2020 and 2021 we secured over 700 PPP loans – valued at $150 million–for small businesses and nonprofits in the New York City area. Many of them were small business account and nonprofit checking account clients; others were small businesses and nonprofits who were having trouble getting a response from their bank – at a time when they needed them most. So we were happy to step up and have continued to do so. It’s what community banks in New York City exist to do.

We are so lucky to see the fruits of our labor. According to a new report from Georgetown University, community banks like us made more PPP loans than larger banks. But, even with vaccinations rates rising and business opening for business, we know that the financial fallout from the pandemic will be with us for many more years to come. So, we will continue to stand with our small business account holders until our city recovers.

When you have a small business bank account with us, you can also use our online banking system and app. With an online business bank account, you get access to our staff that can help you manage your money and business with the click of a button. One of the many perks of having a small business account with a community bank is personalized attention and flexibility.

Still have questions about our small business account? Check out our work with local New York City small businesses like Harlem Pizza Co, Ultranauts, and Chelsea Restoration Project. Learn more about what makes our small business accounts unique here. Contact us at customerservice@springbankny.com for more information.