| EMIGRANTDIRECT PLACING THEIR CORPORATE DONATIONS DIRECTLY INTO THE ACCOUNTS OF THOSE BANK CUSTOMERS DEVASTATED BY HURRICANE KATRINA |
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In response to the tremendous devastation caused by Hurricane Katrina, EmigrantDirect, the Internet banking division of Emigrant Savings Bank, is taking the unprecedented step of giving each and every one of their customers in the most affected counties and parishes in Louisiana, Mississippi and Alabama, a gift of $1,000 per household. The funds have already been deposited directly into their customers' EmigrantDirect.com American Dream Savings accounts and are available for immediate withdrawal.
Emigrant Savings Bank Chairman and CEO Howard P. Milstein, stated, "We believe that no one is in a better position to identify and tend to the needs o f Hurricane Katrina's victims than those who have survived the storm themselves and who call the communities of the Delta region home. We recognize that to some of our customers $1,000 will offer a meaningful amount of support. To others more fortunate, in the wake of the disaster, we would encourage those customers to donate these funds to others in their communities less able to rebuild on their own."
Extending his comments to the personal side, Mr. Milstein continued, "This institution knows and appreciates - on a personal basis- that this cataclysmic event calls for a nationwide response to assist each and every one of those affected by the hurricane. We stand ready to support you and extend our prayers for better days ahead."
Founded in 1850 to serve the need of a growing America and a dynamic emigrant population, Emigrant Savings Bank has served generations of new Americans who came to America to seek a "better way of life" for themselves and their families. By the 1920's, Emigrant was the largest savings bank in the nation with nearly $3 billion in assets. Today the bank has more than $10 billion in assets supported by more than $1 billion in shareholder equity, giving it the strongest balance sheet in the nation. EmigrantDriect.com is now one of the fastest growing online financial institutions.
Rubenstein Associates, Inc., Public Relations
Contact: Rhea Basroon (212) 843-8004
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