NEW YORK–(BUSINESS WIRE)–Apple Bank today announced that Ukrainian nationals who have recently arrived in the New York area and who hope to access financial services can now open an account with the Bank by visiting one of its 82 branches. This gives them access to the basic banking services needed to pay bills, make payments, withdraw cash and set up payroll direct deposit. For many Ukrainian refugees arriving in the United States, access to basic financial services often comes with significant challenges. Apple Bank recognizes the importance of helping individuals and families rebuild their lives by providing the essential financial solutions needed to get there.
This program reflects Apple Bank’s long history of supporting financial inclusion for refugees in America. Founded in Harlem in 1863, Apple Bank traces its roots to Haarlem Savings Bank and German Savings Bank, both of which provided vital banking services to immigrants from Germany and other European countries in New York City in the 1930s. and 1940. Apple Bank has since expanded online and in all five boroughs of New York, Long Island, Westchester and Rockland counties, building long-term relationships by providing affordable, reliable banking products and exceptional personal service in the neighborhoods it serves, with plans to open soon in select New Jersey communities.
Apple Bank is happy to join other local organizations such as a non-sectarian lender Hebrew Free Loan Society (HFLS) to help Ukrainian nationals meet their financial needs. HFLS offers interest-free loans to low- and moderate-income New Yorkers facing financial hardship, and Apple Bank hopes that Ukrainian nationals who take advantage of the services offered by HFLS and/or Apple Bank will benefit to strengthen their financial health.
Steven C. Bush, Chairman, President and CEO of Apple Bank, said, “We are proud of our involvement in the local community, providing services that are essential for our customers to be able to control their finances and access to greater opportunities. Amid the ongoing conflict in Ukraine, we are committed to facilitating the transition of Ukrainian nationals moving to New York and are grateful for the partnership with the Hebrew Free Loan Society.
Kim Kaplan, Acting President and CEO of the Hebrew Free Loan Society, said, “HFLS is proud to continue its 130-year tradition of providing new immigrants with the means to resettle and build new lives in United States. We look forward to helping newly arrived Ukrainians through our interest-free loans and connecting them to Apple Bank.
About Apple Bank:
With a full range of banking, lending and investing products for individuals and businesses, Apple Bank helps customize banking solutions to individual needs. We live and work alongside our clients in the communities we serve and this helps us understand the local financial needs of our neighbors. In 2021, Apple Bank marked its 30th straight year of uninterrupted profitability. Prudent financial and risk management has enabled the Bank to remain solidly profitable, with solid credit quality and low levels of non-performing loans, despite the challenges posed by the pandemic. Our balance sheet is made up of high-quality loans and securities, and our capital ratios exceed all regulatory requirements. As the second largest state-chartered savings bank in New York, Apple Bank has $16.1 billion in assets as of December 31, 2021 and $14.0 billion in deposits. Learn more about applebank.com
About the Hebrew Free Loan Society:
The Hebrew Free Loan Society (HFLS) promotes financial stability and opportunity among low-income New Yorkers by providing access to safe and affordable credit in the form of interest-free loans. HFLS loans allow borrowers to go to college, improve job skills, start a business, and meet unexpected financial challenges. HFLS is a non-sectarian lender, serving the New York area since 1892. During that time, HFLS has provided over $380 million to over 900,000 borrowers. Learn more about HFLS.org.