What is EmigrantDirect and who is Emigrant Bank?
EmigrantDirect 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 Banks1 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. Last year, Emigrant originated approximately 2,800 home loans totaling $720 million. As of year-end 2007, Emigrant Bank and its affiliated Regional Banks1 serve more than 700,000 account holders and have provided 19,000 home loans. Emigrant Bank and Emigrant Mortgage Company have a loan-servicing portfolio of more than $5 billion. Emigrant Bank’s w
