Debut of Brings No-Fee High Interest Internet Banking to Spanish Speaking Community

May 03, 2007, 01:00 ET from Emigrant Bank

    NEW YORK, May 3 /PRNewswire/ -- Emigrant Bank, the venerable New York
 savings institution that revolutionized the online banking world three
 years ago with the introduction of the award-winning,
 has announced the launch of, the first Spanish-language
 Internet- only savings bank in the United States, which seeks to help customers "grow their
 fortune/future," is FDIC insured and offers customers an interest rate of
 5.05%, a rate substantially higher than most savings accounts in the United
 States. As with EmigrantDirect, there are no minimum deposits and no fees
 associated with the account. Customers can access their account anytime 365
 days a year. Each account with is linked to a customer's
 existing checking account at another bank in the United States, from which
 all transactions are made.
     To open an account at, customers must meet
 all normal banking requirements: be a U.S. citizen or legal resident in the
 U.S. and have a valid U.S. Social Security number. A valid driver's license
 or state identification number is also required as part of the application
 process. Spanish-speaking personnel are available to answer questions about
 the account at 1-866-395-8693. At the site, there are also answers to
 questions frequently asked by new customers. For those who prefer, there is
 an English-language option on the site.
     "Emigrant Bank was founded in 1850 on the premise of welcoming new
 people to this country. We believe that the Hispanic community has been
 underserved in banking options, and we want to bring this population a
 secure, convenient and rewarding way to grow their money especially for
 those who prefer to transact their banking in Spanish," said Howard
 Milstein, Bank Chairman. He continued, "The Hispanic community is an
 increasingly important part of the future of this country, like successful
 Americans everywhere, they work hard for their money, and we hope to be
 part of their success. "
     Founded in 1850 to serve the needs of a growing America and a dynamic
 immigrant population, Emigrant Bank has served generations of new Americans
 seeking a better way of life for themselves and their families.

SOURCE Emigrant Bank