Flushing Bank Announces Elimination of Overdraft, Insufficient Funds, and Transfer Fees on Consumer Checking Accounts
Flushing Financial Corporation (Nasdaq: FFIC) announced plans to eliminate overdraft, insufficient funds, and transfer fees on consumer checking accounts for its Flushing Bank, iGObanking®, and BankPurely® customers. CEO John R. Buran emphasized the company's commitment to enhancing customer relationships by providing added value, distinguishing itself from other financial institutions. This move aims to attract and retain customers in a competitive banking landscape.
- Eliminating overdraft and insufficient funds fees may enhance customer satisfaction and loyalty.
- The initiative demonstrates the company's commitment to building strong relationships with customers.
- The removal of these fees could impact the bank's fee-based revenue, affecting overall profitability.
UNIONDALE, N.Y., Jan. 12, 2022 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the “Bank”), today announced its plan to eliminate overdraft, insufficient funds, and transfer fees on consumer checking accounts for its Flushing Bank, iGObanking®, and BankPurely® customers.
John R. Buran stated, “Our business model is based on building relationships with existing and new customers in the communities we serve. We recognize that our customers have a choice on where to establish their banking relationship and are looking for incremental value from that relationship beyond the basic products and services that most banks offer. Eliminating these fees is one way we can demonstrate our value to our customers and reward them with something tangible that they may not be offered at some other financial institutions.”
About Flushing Financial Corporation
Flushing Financial Corporation (Nasdaq: FFIC) is the holding company for Flushing Bank®, an FDIC insured, New York State—chartered commercial bank that operates banking offices in Queens, Brooklyn, Manhattan, and on Long Island. The bank has been building relationships with families, business owners, and communities since 1929. Today, it offers the products, services, and conveniences associated with large commercial banks, including a full complement of deposit, loan, equipment finance, and cash management services. Rewarding customers with personalized attention and bankers that can communicate in the languages prevalent within these multicultural markets is what makes the bank uniquely different. As an Equal Housing Lender and leader in real estate lending, the bank’s experienced lending teams create mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. The bank also fosters relationships with consumers nationwide through its online banking division with the iGObanking® and BankPurely® brands.
Additional information on Flushing Bank and Flushing Financial Corporation may be obtained by visiting the Company’s website at FlushingBank.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “forecasts”, “goals”, “potential” or “continue” or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. The Company has no obligation to update these forward-looking statements.
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Contact:
Maria A. Grasso
Senior Executive Vice President, Chief Operating Officer
Flushing Bank
718-961-5400
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