Creating a Bronx Economy: Banking Options and Alternative Solutions

On April 24, 2012, the Dorothy Day Center for Service and Justice at Fordham University, the Mary Mitchell Family and Youth Center, and UNHP hosted the forum “Creating a Bronx Economy: Banking Options and Alternative Solutions” including the report “Banking in the Bronx: Assessing options in a historically redlined and underbanked borough.”

Despite the many success stories of our borough in the last 35 years, redlining has left a lasting legacy in the proliferation of high-cost fringe financial services and the lowest concentration of bank branches of any county in the nation.  As the gap between the very wealthy and everyone else grows nationally, lower income communities are struggling to survive in an economy that does not work in their interest.  The forum and accompanying report focused on current banking practices in the Bronx and potential solutions.   As part of a larger movement for social justice in the Bronx, the forum was attended by government leaders, clergy, and neighborhood groups. Attendees participated in a breakout session where the issues raised at the forum were further discussed.

UNHP also published an accompanying Guide to Banking in the Bronx to help residents find an affordable and convenient banking option. This guide is available on this page.