Valley Financial institution is donating $200,000 to 14 meals banks throughout its footprint, together with two on Lengthy Island, to assist communities cope with the financial fallout from the coronavirus disaster.
Island Harvest and Lengthy Island Cares-The Harry Chapin Meals Financial institution are among the many meals charities to obtain monetary assist from the Wayne, N.J.-based financial institution, which has branches in New York, New Jersey, Florida and Alabama. Valley can even direct funds to Metropolis Harvest and Meals Financial institution for NYC in New York, plus 4 pantries in New Jersey and three every in Florida and Alabama. The present pays for two million meals for these in want.
Valley additionally launched a brand new on-line 12-month “Neighborhood Restoration” certificates of deposit. With this product, the financial institution stated it’ll donate in grants to native companies a match of over 40 % of the curiosity that prospects obtain from this CD. The CD is accessible on-line solely, with a price of 1.15 APY (annual share yield), a $200 minimal deposit and a $1 million most deposit requirement.
“We perceive that our prospects are going through an unprecedented disaster,” Ira Robbins, president and CEO of Valley, stated in an announcement. “At occasions like these, our native communities want our assist and these two packages are Valley’s preliminary steps to offer speedy help.”