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New York State Senator Andrew Gounardes on Monday celebrated the soft opening of the first retail bank in Red Hook in over a decade.
The new Spring Bank branch, located at 356 Van Brunt St., promises to provide accessible banking services for local residents, according to a press release.
The bank will provide much-needed relief to residents and small businesses who relied on costly alternatives including check-cashing services and will make accessible banking services including savings accounts, check deposits and loan products. Gounardes said Spring Bank would foster financial inclusion and economic empowerment.
“Red Hook residents shouldn’t have to leave their community for basic services like depositing a paycheck or opening a savings account. With the opening of this bank branch, we’re ensuring that our Red Hook neighbors have the opportunity to grow and thrive financially right here in the community they call home," Gounardes said.
The opening follows more than a year of collaboration between Gounardes’ office and local stakeholders, including the Red Hook Business Alliance and Red Hook Initiative, to identify the community’s banking needs.
Spring Bank, founded in 2007 has its headquarters in the South Bronx and is a Certified B Corporation, making it the first bank in New York State to hold the certification.
"As the largest public housing community in Brooklyn, Red Hook has too often been overlooked for essential resources like banking services. We deeply appreciate the tremendous, community-focused efforts of Senator Gounardes’ office and look forward to working with Spring Bank to meet and support our community’s financial needs," said Karen Blondel, Tenant Association President of the Red Hook Houses West.
A Community Advisory Board will comprising of representatives from local organizations, businesses and the nearby NYCHA Red Hook Houses will help ensure the bank’s services meet the specific needs of the community.
A formal ribbon-cutting ceremony is scheduled for January 2025.
