By Nora Lawrence
Michael Hegarty, president and chief executive of the bank, cited space issues as a reason for the bank's relocation. “It got to the point where we couldn't fit another loan officer anywhere,” said Hegarty. Hegarty also noted the organizational benefit of housing all the bank's loan officers under the same roof. Moving all officers to Flushing from the bank's 16 branches would “bring it all together into Queens,” Hegarty said.Several Queens politicians expressed regret at the news of the departure of the Flushing Savings Bank's corporate headquarters, but agreed that the bank's move to Long Island was not a surprise. “It's too bad,” said state Assemblyman Barry Grodenchik (D-Flushing). “This is the unfortunate continuation of a trend of businesses moving out of Queens and specifically moving to Long Island.”City Councilman John Liu (D-Flushing) also pointed to the move as evidence of a larger trend. “We have seen many things leave Queens for Long Island,” he agreed. GreenPoint Savings Bank departed downtown Flushing for Nassau County several years ago in a move that jarred the northeast Queens business district.But the elected officials agreed that the Flushing Savings Bank transfer was far from a kiss of death for busy Flushing. The bank now has its headquarters at 144-51 Northern Blvd. in Flushing.”We'd all prefer that Flushing Savings Bank remain in Queens. But if in their business judgment the move is the best for them, so be it as long as they maintain all their branches in Queens – and I believe they are doing that,” said Liu. Last month John Buran, the bank's chief operating officer, told the TimesLedger that Flushing Savings has targeted 15 different areas in Queens for possible expansion.'Grodenchik remained optimistic about the possibilities for Flushing in the wake of the bank's departure. “I'm confident that the new businesses moving here will take the place of other long-established businesses…I'm confident in Flushing, which is taking in literally billions of dollars in new investments.” Flushing Savings Bank prides itself on a long history of service to the Flushing community that has been its base. In June, the bank asserted its commitment to its surrounding community. “Flushing is a very vibrant area,” Buran said. “Through our lending services, we are able to tailor loans to the needs of customers and small business owners.”Flushing Savings Bank has employed bilingual tellers to better serve Queens' multi-ethnic residents, and has worked with organizations, such as the non-profit Neighborhood Housing Services and the federal Small Business Association, to provide local residents and small businesses with financing. The bank has also joined forces with the New York Taxi and Limousine Commission to finance taxicab medallions for aspiring drivers. The bank's services have not been limited to Queens. With branches in Brooklyn, Manhattan, the Bronx, and Long Island, the bank has given aid to hospitals, health services, and Boy Scouts events. It considers its loan market to be the entire tri-state area.Councilman David Weprin (D-Hollis), chairman of the Council's Finance Committee, expressed his confidence in the bank's commitment to its Queens roots. “Obviously we'd love to keep the headquarters in Queens, but it was a business decision,” he said. “They're still committed to New York City and Queens, and I don't think this will disrupt service for Queens users.” Weprin noted that for some Queens residents, the bank's new headquarters right over the Nassau border would prove more convenient. “They're not moving too far. In some cases, it's a lot closer than to go to Lake Success than to the existing branches they have now,” he said.Liu agreed that Queens would survive the move. “The bottom line is that they are maintaining the branches that are currently serving our community. I certainly wouldn't want them to close down the branch that I use!”
