NEW YORK COMMUNITY BANCORP, INC. ANNOUNCES THE LAUNCH OF A NEW BANK ON CERTIFIED CHECKING ACCOUNT AND THE AVAILABILITY OF A SPANISH LANGUAGE VERSION OF ITS WEBSITES

Rhea-AI Summary

On March 11, 2022, New York Community Bancorp (NYSE: NYCB) announced that its My Community SimplyOne Checking account has been certified by the CFE Fund, meeting Bank On National Account Standards for 2021-2022. This account aims to enhance financial inclusion by offering low-cost features without overdraft fees. Key benefits include a $5 monthly fee, low minimum deposit, and access to online and mobile banking. Additionally, NYCB has launched a Spanish version of its websites to serve its Latino customer base, improving accessibility to its financial services.

Positive

• Certification of My Community SimplyOne Checking account by CFE Fund enhances the bank's reputation for financial inclusion.
• Account features include a $5 monthly fee and no overdraft fees, appealing to underbanked consumers.
• Launch of a Spanish language version of the website supports the growing Latino customer base.

Negative

• None.

HICKSVILLE, N.Y., March 11, 2022 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company" or "NYCB") announced today that its My Community SimplyOne Checking account was certified by the Cities for Financial Empowerment Fund (the "CFE Fund") as meeting the Bank On National Account Standards for 2021 – 2022.  Bank On-certified accounts promote financial inclusion for the underbanked and unbanked consumers through standard account features that are low-cost, yet have robust transaction capabilities.

Key features of NYCB's My Community SimplyOne Checking include a low monthly $5 fee, low minimum opening deposit requirements, no overdraft or non-sufficient fund fees, access to both online banking and mobile banking with mobile deposit, the ability to send and receive money with Zelle^®, and the option of either paper or e-statements.  My Community SimplyOne Checking is available at every one of our 237 branches across our five-state footprint in New York, New Jersey, Ohio, Florida, and Arizona.

Separately, the Company also announced the availability of a Spanish language version of its New York Community Bank website (www.myNYCB.com) and its direct bank website (www.MyBankingDirect.com).  The new sites meet the rising need of our Latino customer base and were created by TransPerfect, using its GlobalLink OneLink solution, which simplifies the process of building, launching, and maintaining multi-lingual websites.

The Spanish language option is also available via NYCB Online, our consumer online banking service.  NYCB Online makes it simple, convenient, and easy for customers to conduct banking activities and manage their finances virtually anywhere at any time.

"As one of the largest banks in the country, it is important for us that all consumers have access to financial products and services," stated Thomas R. Cangemi, Chairman, President, and Chief Executive Officer.  Mr. Cangemi added that, "the initiatives we are announcing today promote financial inclusion and contribute towards our goal of ensuring that consumers are able to monitor and improve their finances in a safe and affordable manner."

About New York Community Bancorp, Inc.

Based in Hicksville, NY, New York Community Bancorp, Inc. is a leading producer of multi-family loans on non-luxury, rent-regulated apartment buildings in New York City, and the parent of New York Community Bank. At December 31, 2021, the Company reported assets of $59.5 billion, loans of $45.7 billion, deposits of $35.1 billion, and stockholders' equity of $7.0 billion.

Reflecting our growth through a series of acquisitions, the Company operates 237 branches through eight local divisions, each with a history of service and strength: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, and Atlantic Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Florida and Arizona.

Investor/Media Contact:	Salvatore J. DiMartino
	(516) 683-4286

 

 

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SOURCE New York Community Bancorp, Inc.

FAQ

What is the significance of NYCB's My Community SimplyOne Checking account certification?

The certification by CFE Fund validates that the account meets national standards for promoting financial inclusion.

What features does the My Community SimplyOne Checking account offer?

It offers a low monthly fee, no overdraft fees, low minimum deposit, and robust online banking features.

When was the My Community SimplyOne Checking account certified?

It was certified on March 11, 2022.

How is NYCB addressing the needs of its Latino customers?

NYCB has launched a Spanish language version of its websites to enhance accessibility.