News & Info

For just a moment, you forget you’re one of 8.6 million people living in our bustling, hustling city. For a moment, the nostalgia of your hometown hits you as you sit at the wooden bar as if you’re among old friends. Except you’re sharing some of the best Italian food...

It goes without saying that healthy, supported and happy employees create great places to work. When people are happy, they are more efficient and creative. Over the years, we’ve learned a lot about how the financial health of employees plays a big role in their...

It’s time to get LIT. Or rather, get to The Lit. Bar. As in, pull up to a wine bar made of books with a mocktail or latte and do the unthinkable. Read a book with pages and ink. Maybe you’ll read about the rich history of the Bronx or about local women’s issues or...

This just gives us another reason to say THANK YOU. We are honored to be awarded as Best for the World for our Customers for the second year in a row by B Lab, the nonprofit organization who certifies B Corps. Among the 2500+ B Corps across 67 countries, we've scored...

We—and many other mission-driven Community Development Financial Institutions (CDFIs)—have known this for a long time. And now the OCC has weighed in. According to a recent bulletin from The Office of the Comptroller of the Currency, “banks can provide affordable...

Earn competitive rates at Spring Bank We are excited to announce we have raised our rates on our Money Market, Savings & IRA Savings accounts and Certificates of Deposits (CDs), including our 5-Year CD. We invite you to take advantage of these competitive rates,...

Observing the synergy between Jessica Quon and Sabrina Valle, the co-founders of The Jam Stand is just as delightful as the surprising splash of rum in their famous Drunken Monkey Jam. Best friends since college, they enjoyed trying crafty things like knitting, making...

An Interview with Derison Puntier, Financial Services Coordinator of Phipps Neighboorhoods “I help people wrap their arms around their finances. My clients often feel financially backed into a corner and don’t know where to turn. I help them realize a financial...

From the Peace Corps, to community organizing and affordable housing, Irene Baldwin the Executive Director of Ariva, knows the difference one-on-one financial empowerment makes. Every day she and her dedicated team support hard-working people of New York City through...

He’s got a heart of gold and an unstoppable drive. Mohammed Faisal, the Founder and CEO of Money Hub, has committed to equipping youth with financial literacy in New York City. At a recent gathering at The Impact Hub, we had a chance to hear more about his personal...

Financial literacy and financial inclusion. These are phrases that’s hit the social enterprise space. B Corps, Community Development Financial Institutions, even some traditional banks are creating strategies and products which are provide financial literacy and are...

Angela Fernandez is the one most compelling and dedicated women in New York City. And trust us. This isn’t just our opinion. A first-generation immigrant from the Dominican Republic, she’s the Founder and Executive Director of the leading immigrants’ rights...

Wall Street’s “men’s club” reputation is evolving. From Santander Executive Chairman, Ana Botin who is working hard to expand banking services to the unbanked in Brazil and Mexico to Marianne Lake, the Chief Financial Officer of JPMorgan Chase who is a contender to...

During the month of February, we are providing you with a very easy way to show the Big Apple how much you love her: support financial literacy! When you move your money out of Bank of America and open an account with us, we will donate $100 to financial counseling,...

Two years for us as a certified B Corp and we couldn’t be more proud to be part of this growing movement of social entrepreneurs committed to using business as a force for good. Over the course of this month, our staff will be sharing about what being part of the B...

  Time. No matter how hard you work, barter or meditate; you can’t have more of it. Nobody knows this better than New Yorkers. And yet, there are values, core to who we are, which guide our lifestyles and our consumption choices. One of these is how and where we...

Last week, when Bank of America raised their fees, they created an outpouring of frustration from their customers and the change makers in our city working toward the financial inclusion of all people. We put out a call to move your money and bank local—whether that...

Happy B Corp Month! We really love being part of the B Corp community. When we certified two years ago, we knew we weren’t only taking a firm stand in our commitments to growing in our impact. We knew we were also joining a tribe. As many of our fellow B Corp friends...

If you’ve spent time on social media in the last week, you probably noticed the outpouring of frustration on the part of unhappy of Bank of America customers and lots of folks generally concerned with the growing divide in access to affordable financial product and...

More and more people are finding themselves priced out of basic banking services form megabanks, particularly individuals of modest means. When Bank of America announced that the monthly service charge for their basic checking account was going up to $12-over 66,000...

2018 is here and we know you’re already working hard to make sure your business grows this year. Michelle Allen, our Commercial Loan Closer provides insight into ensuring you keep the most important things in mind as you plan ahead. Review Your Personal Credit Score:...

One of the great privileges of my role as the Director of Consumer Lending at Spring Bank is the partnerships I’ve built with financial counselors around the city. Financial counselors support families as they rebuild after financial loss, overcome homelessness or...

Eight days into 2018 and the New Year’s motivation to get back in shape or cross that trip to Thailand off your bucket list are still buzzing. Your vision board is full of really important things like “pay off student debt” and “join a local sangha for weekly...

You've never met someone quite like Kheedim Oh. When NYC nightlife was hitting its peak in the 90's, Kheedim was one of the city's coolest DJs, spinning underground house music. For over two decades, he built a brand in the entertainment industry. But that's where his...

2017. What a year. When the clock struck midnight on December 31, it was almost as if the whole city exhaled together in gratitude. We felt it too. Our customers and our city experienced political and social changes in ways most of us didn’t see coming. And because of...

By Julie Fahnestock, our Director of Marketing and Storytelling I recently watched an older video of Ram Dass, a famous spiritual guide and teacher, talk about “the spontaneous generosity of heart.” He speaks about the gift of giving to others—not because it’s the...

Earlier this year, Spring Bank was awarded $930,000 from the U.S. Department of the Treasury's Community Development Financial Institution (CDFI) Program. We were one of only 27 banks in the country to receive these funds. Why is this a big deal? It means almost a...

Holiday shopping. Either you love it or you hate it; rarely is there middle ground when it comes to the pressures or joys—however you see it-- -that holiday shopping creates. Regardless of where you land on the gift-giving spectrum, we think it’s the perfect time to...

(from Chandni Thakkar, our Bronx Branch Manager) Building credit. It’s probably not top of mind for you during this busy holiday month. But in fact, we think the holidays can be one of the best times for you to consider and build your credit score. Why? Because as...

The most wonderful time of year is here! The team at Spring Bank has decked the halls of our branches and there’s an excited anticipation at our Bronx headquarters as we plan our annual holiday party. Whether you gathered last week with thousands in the city to see...

Giving Tuesday: it might just be our favorite holiday. It’s not that any of us need a reason to give, but there’s something very special about participating in a unified day of generosity in our nation. Over the last decade, we’ve been privileged to partner with and...

When Spring Bank headquartered in the South Bronx 10 years ago, we knew our community was being financially exploited by predatory loan providers and check cashing businesses. During the height of the financial recession and at a time when other banks were leaving, it...

It's a little tricky for a community banker to talk about gratitude without falling too deeply into clichés. One of the greatest films ever made, which is about to go back into regular rotation as Christmas nears, is about a community banker who temporarily lost sight...

Part of the reason we became a B Corp is because we’d heard about the collaborative and generous community. Other B Corps told us again and again, “a huge benefit to taking on the certification process is the connection to this tribe.” It is a tribe indeed. You just...

By Ines Marino, our Director of Small Business Lending After I say goodbye to the newest addition to my family, Pipa, our nine-month old puppy, I head to Harlem to visit a client. They are opening their second restaurant and renovations are in full swing. So many...

When it comes to planning for your financial future, you have a lot of options. From long-term options like your 401(k) or quicker ROI’s like investing in your favorite IPO, there are many ways you can make your hard-earned money grow. With so many options, why choose...

by Ines Marino, Director of Small Business Lending We think British economist E. F Schumacher makes a great point: Small is beautiful. Small, however, is contrary to what our MBA programs teach us about growing our businesses; the opposite of what it means to achieve...

Effective immediately, and until November 30, Spring Bank is assisting with the Puerto Rico and Virgin Islands relief effort by waiving the transaction fee on consumer wire transfers of funds to Puerto Rico residents and Virgin Island residents, whether through your...

Written by Demetris Giannoulias, CEO of Spring Bank When we started Spring Bank in 2007, the economic boom of the 2000s was at its peak. While Wall Street was doing great and banks were expanding in ways they never had and into complex financial products of which no...

Yes. That's 93 followed by four zeros. It's generous. It's an honor. And we worked hard to earn this privilege. We are proud to announce that we have just received a $930,000 award from the U.S. Department of the Treasury's Community Development Financial Institution...

You may have read that one of the major Credit Reporting Agencies, Equifax, recently experienced a largescale data breach.  This is an important time to review the status of your personal information at the credit bureaus and take additional steps to secure your...

  Spring Bank has been recognized as being among the companies creating the most positive overall impact on its customers based on an independent, comprehensive assessment administered by the nonprofit B Lab. Honorees are featured on B the Change, the digital...

New Yorkers are getting their taxes done free right here at Spring Bank in the Bronx. Because Spring Bank is one of a handful of banks that takes the municipal ID to open accounts, tax filers can use IDNYC to file taxes and put their money in a safe and affordable...

Spring Bank Helps More People Every Day In May 2015, Spring Bank went over the $100,000 mark with its Credit Builder, Borrow-And-Save and Employee Opportunity Loans. Spring Bank's commitment to providing affordable credit to borrowers in the Bronx and Harlem is...

Our Newest Customer Is A Mutual Fund That Banks For 100% Impact Appleseed Fund (NYSE: APPLX, APPIX), a go-anywhere value mutual fund, has added to its community investment portfolio by purchasing certificates of deposit in Spring Bank, a Bronx, New York-based...

Partners In Progress: Affordable Credit, Where It's Due We're proud of the team at Happy Mango for today's article in USA Today. It highlights their work in developing an alternative credit scoring system that can help many of our customers in measurable ways. And...

This Part Is Easy: Free ATMs At Spring Bank, you can have a full-service bank, bank local, and be happy. Our customers come from all over metro NYC. Our services are affordable, accessible, simple, and modern. We are a member of the Money Pass network, which gives our...

Great Ideas Come From Spring Bank: American Banker Of the best "Ideas for 2015," at least one of them comes from the Bronx. More importantly our Borrow-And-Save loan has caught the attention of customers throughout New York. Who are we helping? Customers who would...

Students @ Family Life Academy Charter School Learn Healthy Life Skills This is important. In last week's State of the Borough address, Bronx Borough President Ruben Diaz Jr. shared that the Bronx is 62nd out of New York State's 62 counties in terms of health! One way...

One of New York's Most Active SBA Lenders is Also One of The Best In its 2014 Book of Lists, Crain's New York Business ranked us number 23 among New York area SBA lenders, putting us solidly near the top of the most active SBA lenders in New York, and above many banks...