Creating a Bronx Economy: A Forum Tomorrow at Fordham

Creating a Bronx Economy:

Banking Options and Alternative Solutions

Tuesday, April 24, 2012

Fordham University – McGinley Center, Faculty Lounge

Breakfast @ 8:30 AM / Forum @ 9:00 – 11:30 AM

Much of the economic decline in the Bronx in the 1960s and 1970s was due to redlining and disinvestment by the financial industry and the government. Community organizing led to new laws and a new climate encouraging reinvestment by both the private and public sectors that led to the rebirth of the Bronx. Despite the many success stories of our borough in the last 35 years, redlining has left a lasting legacy in the proliferation of high-cost fringe and sub-prime financial services and the lowest concentration of bank branches of any county in the nation.  Meanwhile, as the gap between the very wealthy and everyone else grows nationally, lower income communities are struggling to survive in an economy that does not work in their own interest.

As part of the ongoing conversation and organizing work in creating an economy that works for the Bronx, our organizations invite you to join us for a presentation and discussion about current banking options in our borough and alternative solutions we can create that meet our needs. A report by University Neighborhood Housing Program presenting community investment information (e.g., branches, lending, affordable account options and foreclosures) on the 23 banks that have branches in the Bronx will be released and discussed at the forum. In addition to this report, we are asking Bronx residents and community groups to fill out an online survey about current financial services and alternatives you can envision that would support the Bronx economy.  We will also hear about interesting alternatives offered by a local credit union. Both the report and the survey will help drive the discussion and breakout groups where open dialogue and collaboration can take place. We are truly open to the possibilities of where this can take us and the Bronx economy going forward.

 Please feel free to forward this invitation and/or survey to your Bronx constituents.

Thanks and we look forward to your participation!

The Dorothy Day Center for Service and Justice at Fordham University

The Mary Mitchell Family and Youth Center

University Neighborhood Housing Program