What is DollarSavingsDirect and who is Emigrant Bank?
DollarSavingsDirect is an online banking division of Emigrant Bank. It is for consumer accounts only. The Bank was founded by Irish emigrants as a mutual savings bank in 1850. By the 1920s it had grown to become the largest savings bank in the nation. As of December 31, 2007, Emigrant Bank and its affiliated Regional Banks* has approximately $14.3 billion in assets and more than $1 billion in net worth, operating through 35 branches in the New York metropolitan area. As a traditional savings bank, Emigrant Bank, through its mortgage banking subsidiary, Emigrant Mortgage Company, is licensed to originate home loans in New York and 19 other states. Emigrant Bank’s wealth management division, New York Private Bank & Trust, has its own deposit products starting at $2,000,000. Emigrant Bank is regulated by both State and Federal regulators. All deposits are insured by the FDIC up to the legal limit.
