Popular Bank Branch Approved as a BDD Program Participant by NYS Department of Financial Services - Blog Popular Bank

10.22.2018 /

Popular Bank Branch Approved as a BDD Program Participant by NYS Department of Financial Services

October 22, 2018

New York, NY

Popular Bank, one of the nation’s premier banks and the principal U.S. mainland operating subsidiary of Popular, Inc. (Nasdaq: BPOP), today announced Popular Bank’s East Tremont Branch in the Bronx, NY has become a participating branch in the NYS Banking Development District (BDD) program. As part of the BDD designation, the branch, as a participating BDD Branch, will receive subsidized public deposits to promote local economic development.

The NYS Department of Financial Services designated Community District 6 (CD6) in the Borough of Bronx, as a Banking Development District. As a participating BDD branch, Popular Bank’s East Tremont Branch will leverage the BDD funds to provide greater access to banking services to local businesses and residents of the Bronx Community District 6.

“Since our founding over 50 years ago, we have been dedicated to enhancing the lives of New Yorkers who need it most. This is at the core of the BDD’s mission and one we truly support,” said Paul Mak, New York Metro Region Executive, Popular Bank. “Working together, we want to reduce the number of unbanked and underbanked and ensure they achieve financial health. We are thankful to the NYS Department of Financial Services for their belief in our partnership.”

The BDD program includes bank branches in areas across New York State located in areas where banks can play an important role in promoting individual wealth, job creation, home ownership, accessible financial services, community development, and revitalization. Popular Bank currently has another participating BDD branch located in East Houston BDD in Manhattan.

About Popular Bank

Popular Bank is part of Popular, Inc. (Nasdaq: BPOP), which ranks among the top 50 U.S. banks by assets and brings more than 120 years of success in banking, driven by integrity and values. Popular Bank leverages its financial expertise to enable customers to focus on what matters most. Leveraging its institutional depth, Popular Bank works side-by-side with business and retail customers delivering competitive business and retail offerings including Retail and Private Banking, Commercial Lending, Mortgage Services, Association Lending, Healthcare financing, and Middle Market banking. Popular Bank has branches in New York, New Jersey, and Florida, and provides 24/7 digital banking solutions and access to 55,000 ATMs through the Allpoint network.

To learn more, visit PopularBank.com or call 1-800-377-0800. Find out more about Popular Bank’s commitment to community service at PopularBank.com/About-us/.

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