The Chase branch at Knolls Crescent, southern Riverdale’s only bank, was prepared to shutter at the end of the year. But on Wednesday morning, Assemblyman Jeffrey Dinowitz announced on Twitter that it will remain open until at least May 2021.
Chase also stated it will continue to reevaluate the decision to close this branch.
Assemblyman Dinowitz, Congressman Eliot Engel and Councilman 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.”
In October, residents packed the parking lot of the bank as they held a rally protesting the planned closure.
On Oct. 6, residents received a notice from Chase that the branch located at 13B Knolls Crescent would close on Dec. 30. The closest Chase branches are at 5881 Broadway and 3775 Riverdale Ave., but topographically would require a car, bus or paratransit vehicle to transport someone living in Knolls Crescent to use their bank.
However, southern Riverdale has a higher than average percentage of residents who are likely to have limited mobility including seniors and families with strollers.