BOA's Decision To Close The "Only" Bank On Dr. King, Jr. Dr. Draws Anger, Protests

[EE Broadway Local]

"Residents Near MLK Drive Protest Loss Of The Only Bank In The Neighborhood"

Friday January 29, 2010

BY: Charles Hack

Journal Staff Writer

 

"Angry protestors carrying red and white signs rallied outside the Bank Of America on Doctor Martin Luther King, Jr. Drive with Assemblyman Charles Mainor yesterday, declaring the company made the "wrong corporate decision" to close the only bank on that street.

 

The Bank Of America branch inside the EXTRA Supermarket at The Hub Shopping Center is to close at 2:00pm today.

 

Red signs posted on the tellers windows directed customers to the closest branch, at 2400 John F. Kennedy Boulevard, at Communipaw Avenue, a half-mile away. Another Bank Of America Branch is at the Hudson Mall on Route 440, a mile away.

 

Two ATMs, which allow deposits, as well as withdrawals, are remaining at the branch. But customers and demonstrators said the nearest branches are too far for senior citizens and other residents who rely on public transportation.

 

'This isn't right', said Mr. Reyvond McMillian, 62, a retiree and a resident of Danforth Avenue who grew up on Orient Avenue. 'This is the only bank in the neighborhood.'

 

'We need it in this area', said customer Mr. James Porter. 72, of Fulton Avenue who was using the ATM.

 

Assemblyman Mainor, who represents Bayonne and Jersey City said state Senator Sandra Cunningham has approached other banks about opening a branch, and he has been talking with community leaders about starting a credit union. Jersey City mayor Mr. Jerramiah T. Healey said his administration is talking with other banks.

 

EE's Note: Dr. Martin Luther King, Jr. Drive (formerly Jackson Avenue) is a long street in Jersey City. It starts at Mc Adoo Avenue and Long Street (near Triangle Park) and runs to Communipaw Avenue and Monticello Avenue (a short section of Jackson Avenue remains from Clinton Avenue to Communipaw while Monticello Avenue is interupted between Clinton Avenue and Communipaw and Clinton itself is interupted between Jackson and Monticello.). NJT's #87 serves Dr. King, Jr. Drive and HBLR has a station at Virginia Avenue.

 

It seems like the Virginia/Ege/Kearney Avenues section around Dr. King, Jr. Drive (Bergen Avenue is a block west and Ocean Avenue is a block east) is getting sketchier and possibly extends to Forrest Street a block north and Orient Avenue a block south.

 

A BK (Burger King) at The Hub has also closed.

[Shortline Bus]

Intresting topic. This is been a long standing problem for decades going back to at least the 1960's also in NYC and in urban areas of this country. I dont say this lightly and often but an classic example of economic discrimination intentional or not by the banks.

 

Another example of this was Harlem. We all what has happened around 125th St but Central Harlem around 145th is also changing. Until about 5-10 years the blocks around 145th had no major banks or shopping areas and tons of check checking and liquior stores. Since the Pathmark opened there several banks and mid size national chains have opened as well.

 

Ditto for other areas citywide that was mostly residents for 'people of color' such as Bushwick, Bed Stuvy, Crown Heights, Lefferts Gardens and Clinton Hill in Brooklyn and Washington Heights in Manhattan.

 

While back in the day racism was probably a major factor for minority communities in urban areas not having access to major banks nearby, when i worked as a Queens neighborhood newspaper about 8 years ago, i did an interview with a branch manager of a major national bank chain(i dont want to revel their name) told me as i am paraphasing that the power that be that decide on picking on a location, actual in recent years want more minority customers but like any other business wants to attract people who have jobs and not those who dont work or have no realible source of getting paid.

 

Even in 2010, although its getting better at least in NYC this is still an issue.

I read somewhere in last couple of years in NY Daily News places in the South Bronx, several Southeast Queens neighborhoods and Ocean Hill/Brownsville in Brooklyn, that not yet 'gentified' still not having access to a major bank in their neighborhood.

I actually think that the Obama Adminstartion should create tax breaks and credits to banks that open branches in low incoming urban areas and rural towns as well. Still an intresting story EE Local about Jersey City.

 

Just my takes.

[EE Broadway Local]

Thanks. Dr. Martin Luther King, Jr. Drive starts in Greenville and ends in Bergen. While Bank Of America did close the branch, they did leave the A.T.M. in the Extra Supermarket.

[Nexis4Jersey]

There building Banks by the 1000s here in the Suburbs but not there? Why are they afraid of Bank Robbery's?:confused:

[ColumbiaDeath]

I live in Bed Stuy, I have to travel to Crown Heights, Williamsburg or Downtown Brooklyn to get to a Bank of America branch. It's obnoxious to say the least. I wish they would put in a branch on Fulton Ave.