Banking local makes a big difference: We are a community bank with an emphasis on serving the “underbanked:” People with limited access to mainstream financial services, and small businesses whose credit needs aren’t served by larger banks.
In New York State, community banks hold 22% of FDIC deposits but make over 55% of loans to small businesses, according to the Department of Financial Services. (Click for link to 2013 Community Banking Report).
We are local, accessible and engaged. We provide tools that our depositors use to grow and protect their assets, and we lend locally to ensure that our neighborhood businesses, and our neighbors, continue to flourish.
Locations and hours
For locations on Google Maps please click on the address.
Monday and Friday: 8:00 a.m. to 8:00 p.m.
Tuesday, Wednesday, Thursday: 8:00 a.m. to 6:00 p.m.
Saturday: 10:00 a.m. to 4:00 p.m.
ATMs: Two (24 hours)
2049 Eighth Ave. (At 111th St.)
New York, New York, 10026
Monday through Wednesday: 9:00 a.m. to 5:00 p.m.
Thursday through Friday: 9:00 a.m. to 7:00 p.m.
Saturday: 9:00 a.m. to 1:00 p.m.
ATMs: One (24 hours)
History and Mission
When we opened our doors in 2007 (as CheckSpring Bank), we were the first bank to locate in the South Bronx in over 25 years. For decades the South Bronx has been regarded a “banking wasteland” in dire need of stable, mainstream financial institutions. We continue to build on a track record of successfully banking neighborhoods like the South Bronx where people and businesses need basic ways to save and grow.
With the opening of our second branch in Harlem, we continue to provide affordable, mainstream banking services in neighborhoods that need them. We believe strongly that every community deserves a bank that serves local people and businesses.
We’ve proven that underbanked neighborhoods don’t need to stay that way. And although we believe strongly in traditional “person-to–person” banking, we embrace the convenience of technology, and our customers are in every borough.
Our mission is clear: to serve the banking needs of underserved and low to moderate income communities in New York City, creating a franchise that is recognized for community development, community service, effective and affordable products and ethical conduct.
Spring Bank is always on the move, working with partners, speaking to students, and helping business owners. Please visit our partners below, or download copies of our press kit and view press releases and event announcements so you can join us while we’re out in our communities.
Non Profit Partners
Spring Bank works with the following organizations to expand access to financial literacy resources and asset building tools throughout New York City. Please click on the link below to visit their individual websites.
Ariva Inc. – Spring Bank works closely year round to support our core partner, Ariva, Inc. Ariva’s primary focus is its IRS certified, free income tax preparation (VITA) program and yearly financial literacy seminars. We also work together to offer the innovative $aveUSA tax refund match savings accounts along with the New York City Department of Consumer Affairs.
The Financial Clinic – Spring Bank is a supporter of the Financial Clinic’s $aveUp tax refund match savings program and the Now & Later Program, an initiative to encourage income smoothing behavior for customers who rely heavily on lump sum payments as part of their annual income.
Start Small, Think Big, Inc. – Spring Bank collaborated with Start Small, Think Big, to pilot a savings program for Bronx high school students. We continue to contribute on panels helping entrepreneurs prepare to fund their businesses
BronxWorks – Spring Bank hosts accounts for referred clients from BronxWorks, and supports this important neighborhood institution as a partner in New York City’s Family Rewards Program. We also provide representative payee accounts for BronxWorks’ clients who are unable to service their own accounts due to incapacity, so that they may continue to have access to their funds.
FoodBank for New York – Spring Bank is a partner with FoodBank for New York in offering the $aveUSA tax season match savings accounts, as well as Access Card Accounts (low cost checking accounts), so that consumer are ensured quick and free access to their refunds through direct deposit.
Newark Now – Spring Bank is a partner with Newark Now in offering the $aveUSA tax season match savings accounts, as well as Access Card Accounts (low cost checking accounts), so that consumers are ensured quick and free access to their refunds through direct deposit.
Business Outreach Centers – Spring Bank supports BOC’s mission to improve the prospects of traditionally underserved low and moderate income entrepreneurs and their communities.
Bank Enterprise Award 2012, United States Treasury CDFI Fund – The BEA Program awards FDIC-insured depository institutions for making investments in the most distressed communities throughout the nation. The BEA Program is multiplying financial institutions’ impacts and generating greater economic opportunity for those with the least access to financial products and services.
Ariva, Inc., 2012 Partner Award Recognition – “Thank you for your support, collaboration and generosity of spirit that contribute to our common vision of improving the lives of low-wealth New Yorkers.”
The 2012 Terrence L. Martin Lenders Award, Business Initiative Corporation – “With Appreciation for Your Continued Commitment, Dedication and Support to the Business Community.”
SBA 2011 Bronze Medal Award, New York District Office – “For Excellence in Providing Capital to Small Businesses Using the Small Business Administration’s Lending Program.”