A new bank just opened its doors in Jericho, and it’s bringing a taste of Korea to the area.
Noah Bank, located at 352 N. Broadway, has some green beans to share with the rest of Jericho. Founded in 2010 by Korean-Americans, the bank spread rapidly, opening its doors in New York, New Jersey and Pennsylvania.
The organization is headquartered in Elkins Park, PA. With the opening of the Jericho branch, it has five banks, including ones in Flushing and Manhattan as well. Overall, the company has about 90 employees.
The Tribune spoke with Henry Lee, a public relations officer at Noah Bank, to learn more about what makes this bank stand out in Jericho.
Q: Why open in Jericho?
A: Jericho is one of the greatest communities in the north east. Also, it is the center of the Korean-American community on Long Island, which is one of the largest and fastest growing Korean enclaves outside Korea. According to the 2010 census, 31.9 percent of the population in Jericho identified as “Asian.” Our main target customers are Asian. However, we have products, services and staff to serve all people in Jericho and the surrounding area.
Q: How do you attract new customers in Jericho when people are presumably comfortable with their current ones?
A: We provide a 12-month promotional CD up to $250,000 at 2.95 percent annual percentage yield, with a $1,000 minimum opening balance. Also, there is a sweepstakes event for all visitors through July 31. We will give out three iPads, 10 Amazon gift cards worth $200 each, as well as 15 $100 H-Mart gift cards to winners.
Q: Why should people bank at Noah Bank?
A: We have a specialty in small business and commercial mortgage lending. A loan officer with 20-plus years’ experience is working at the branch full-time to provide lending service. We also offer competitive rates for deposit products.
Q: What is the biggest benefit of this bank that potential customers should know about?
A: Our motto is “Strong Companion of Businesses.” Our employees are committed to help customers’ businesses grow. We strongly believe in the bank and community grow together. We will be a “Strong Companion of Businesses” on Long Island, as well.