Emigrant Savings Bank

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Emigrant Savings Bank was founded in 1850 by 18 members of the Irish Emigrant Society and is the oldest savings bank in New York City. The bank was originally founded to serve the needs of the immigrant community in New York and has grown to be the largest privately owned bank in the country. Emigrant has 36 branches located in the New York metro area and has assets of nearly $12.5 billion. The Emigrant Savings Bank converted from a mutual to a stock savings bank in 1986 following several years of loss in an unfavorable environment. The bank increased its online presence with the introduction of the virtual bank Emigrant Direct in 2005. The current annual percentage yield for Emigrant Direct's American Dream Savings Account is 2.75%.

[edit] Owners

The Milstein family owns the bank; they are on the Forbes list of the 400 richest American families.

[edit] External links

• Emigrant Bank website
• Emigrant Direct website
• Emigrant Direct historical rate charts