Legislators Announce Delay in Chase Plans to Close Knolls Crescent Bank Branch

Local leaders have been fighting against plan to close the only bank in southern Riverdale at the end of 2020

Bronx, NY – Chase Bank has informed the Office of Assemblyman Jeffrey Dinowitz that they are delaying the closure of their Knolls Crescent branch until at least May 2021. They also stated that they will continue to reevaluate the decision to close this branch. This is a change from previous plans to close the branch at the end of December 2020 and comes after strenuous advocacy from local elected officials and community members in opposition to this decision.

Assemblyman Dinowitz, Congressman Eliot Engel, and Council Member Andrew Cohen issued the following joint statement on this update:

“We are very pleased that Chase Bank appears to have heard our community’s concerns and is reevaluating the decision to close the only bank located in southern Riverdale. Access to banking services is a public right and it would be devastating for the people of these neighborhoods if this bank branch closes permanently. Many of our neighbors have limited mobility and would be unable to walk the mile to other nearby bank locations, especially considering the hilly geography of our community. This would mean that people are unable to withdraw cash, to cash social security or other checks, or to access other in-person banking services that may be needed. The delay until May is a welcome relief, but we will continue exploring every possible avenue in order to keep a bank in Knolls Crescent.”