City & Suburban forms new community lending group.City & Suburban Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks , one of the most respected and oldest financial institutions in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , has formed a unique Community Lending Group focusing on mortgage lending and commercial loans to smaller-sized businesses. The bank has introduced a new suite of customized products available throughout the Metropolitan area. "It's always been our business to do mortgage lending on multi-family and commercial properties," said Janet Harnaga, senior vice president, community lending, City & Suburban Federal Savings Bank. "Recently, we recognized the need to focus on smaller and medium sized mortgages. Our new Community Lending Program returns us to our roots. We're looking to create a full service relationship on both the lending and deposit side." City & Suburban's Community Lending Program is looking to expand both mortgage and business lending in local communities. "Our offerings are designed to be 'fast-tracked' up to $750,000 and offered at a reduced cost to smaller owners and developers who may only have one or two properties," said Harnaga. With headquarters in Yonkers, New York Yonkers is the fourth largest city in the State of New York (it falls behind New York City, Buffalo, and Rochester), and the largest city in Westchester County, with a population of 196,086 (according to the 2000 census). , and branches in the Bronx, Westchester and upper Manhattan Upper Manhattan denotes the more northerly region of the New York City Borough of Manhattan. Its southern boundary may be defined anywhere between 59th Street and 155th Street. , City & Suburban Bank has seen quite a resurgence re·sur·gence n. 1. A continuing after interruption; a renewal. 2. A restoration to use, acceptance, activity, or vigor; a revival. in its communities. "Lots of small construction projects are going on near our branch locations," noted Harnaga. "We look forward to being a big part of the renaissance." |
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