NorthEast Community Bank opens new branch in Spring Valley

NorthEast Community Bank, with offices in Massachusetts and New York, opened its first branch in Rockland County in August.  Opening its doors on August 17, the bank has already accrued $11 million in deposits from both new residential and business customers.

NorthEast, founded by NECB’s Chairman and Chief Executive Officer Kenneth A. Martinek’s grandfather, has been serving New York and Massachusetts since 1934.  NECB  held the formal  ribbon cutting on August 31, 2015 with County Executive Ed Day and Town of Ramapo Supervisor Christopher St. Lawrence. During the open house, Roger Sheiber, vice president of the Rockland Business Association and members  the business community had  the opportunity to meet with Mr. Martinek, Jose Collazo, President/ Chief Operating Officer, Branch Manager/Vice President Paramand Mana and  the members of the “NEBC” family of lenders.

“We are definitely a people’s bank,” said Martinek. “We have all the ‘perks’ the big banks offer—open seven days a week, offering both retail banking and commercial lending,  remote deposit—we don’t have are the high fees that the bigger banks charge. Some charge up to $35 for a returned check. We charged 25 cents.  Many people are turned off by the ‘big box’ banks and cannot afford the high fees and demands they impose in order to have an account. That’s something customers  won’t find at NorthEast. We work for our depositors, who are the backbone of the community.”

Hayden Wealth Management, acquired by NECB in 2007, offers financial planning services, transition planning, risk assessment and disposition of assets for customers.

The New York/Massachusetts-based bank has $560 million in assets, with nine branches (which includes its newest branch in Rockland County’s  Spring Valley) and three lending centers. NorthEast Community Bank trades on NASDAQ Global Market under the symbol “NECB.”