Apple Bank Provides Financial Services to Ukrainian Nationals

NEW YORK--(BUSINESS WIRE)--Apple Bank announced today that Ukrainian nationals who have recently arrived in the New York City area and hope to access financial services are now eligible to open an account with the Bank by visiting any of its 82 branch locations. This provides them with access to the fundamental banking services needed to pay bills, make payments, withdraw money and establish payroll direct deposit. For many Ukrainian refugees arriving in the United States, accessing basic financial services often comes with considerable difficulties. Apple Bank recognizes the importance of helping people and families rebuild their lives by providing them with the critical financial solutions needed to do so.

This program reflects Apple Bank’s longstanding history of working to support the financial inclusion of refugees in America. Founded in Harlem in 1863, Apple Bank traces its roots to the Haarlem Savings Bank and German Savings Bank, both of which provided vital banking services for immigrants moving to New York from Germany and other European countries in the 1930s and ‘40s. Apple Bank has since expanded online and across the five boroughs of New York City, 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 certain New Jersey communities.

Apple Bank is pleased to join other local organizations such as non-sectarian lender Hebrew Free Loan Society (HFLS) in helping Ukrainian Nationals with their financial needs. HFLS provides interest-free loans to low- and moderate-income New Yorkers facing financial challenges, and Apple Bank hopes that Ukrainian Nationals who take advantage of the services offered by HFLS and/or Apple Bank will benefit in strengthening their financial health.

Steven C. Bush, Apple Bank Chairman, President and CEO, stated, “We’re proud of our local community involvement, delivering services that are essential for our customers to be able to control their finances and access greater opportunities. Amidst the ongoing conflict in Ukraine, we are committed to helping ease the transition for Ukrainian nationals moving to New York and are grateful for Hebrew Free Loan Society’s partnership.”

Kim Kaplan, Hebrew Free Loan Society Acting President and CEO, said, “HFLS is proud to continue our 130-year tradition of providing new immigrants with the means to resettle and build new lives in the United States. We are eager to help newly arrived Ukrainians through our interest-free lending and by connecting them with Apple Bank.”

About Apple Bank:

With a full suite of banking, lending and investment products for both individuals and businesses, Apple Bank helps tailor banking solutions based on individual needs. We live and work alongside our customers in the communities we serve and that helps us understand the local financial needs of our neighbors. In 2021, Apple Bank marked its 30th consecutive year of uninterrupted profitability. Prudent financial and risk management has enabled the Bank to remain solidly profitable, with strong credit quality and low levels of non-performing loans, despite the challenges arising from the pandemic. Our balance sheet is composed of high-quality loans and securities, and our capital ratios are in excess of 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 at applebank.com

About Hebrew Free Loan Society:

The Hebrew Free Loan Society (HFLS) fosters financial stability and opportunity among lower-income New Yorkers by providing access to safe, affordable credit in the form of interest-free loans. HFLS loans enable borrowers to attend college, improve their job skills, start a business, and respond to unexpected financial challenges. HFLS is a non-sectarian lender, serving the New York City area since 1892. In that time, HFLS has provided over $380 million to more than 900,000 borrowers. Learn more at HFLS.org.