Photo courtesy of Diane Bondareff/AP Content Services for Capital One
Capital One held the grand opening of its branch at 151 East Fordham Road on Saturday, April 26, simultaneously announcing an investment of $1 million in The Bronx.
Bronx Borough President Vanessa Gibson, State Sen. Gustavo Rivera (S.D. 33), City Council Member Pierina Sanchez (C.D. 14), and Rob Walsh, president of the Bronx Economic Development Corporation, joined Capital One officials, the Fordham Road Business Improvement District (BID), and other local officials & organizations for the occasion.
Capital One representatives said following the recent approval of the bank’s proposed acquisition of Discover Financial Services, the Bronx investment signals the start of a series of investments Capital One will be making in low and moderate-income communities across New York, and nationwide, as part of a $265 billion, five-year Community Benefits Plan (CBP).
They said funds will provide direct support to start-up incubators, bolster the local business improvement district, expand small business loan programs, and offer technical assistance and financial counseling to entrepreneurs and residents. Click here for more information.
Reacting to the announcement, Gibson said afterwards, “Proud to have joined Capital One in celebrating the grand opening of the new Capital One Café on Fordham Road and a major $1 million investment in our borough. This investment will provide direct support to start-up incubators, expand small business loan programs, and so much more.”
She continued, “In partnership with our office, Capital One will also invest $400,000 in the Bronx Economic Development Corporation to expand their capacity to support our Bronx businesses. Through partnerships with Ariva, the Bronx Economic Development Corporation, the Fordham Road BID, and Lehman College, this commitment is helping build a stronger, more vibrant Bronx. Thank you to Capital One for investing in the future of our communities!
For his part, Rivera said the new cafe that Capital One has opened at their Fordham Road branch is a welcome addition to the neighborhoo as it will offer an enhanced banking experience for all members of our community. “I’m also grateful to Capital One for their $1 million investment to community institutions in our borough that support our local small businesses,” he said. “This shows Capital One’s real commitment to invest and uplift our communities.”
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Welcome to the Norwood News, a bi-weekly community newspaper that primarily serves the northwest Bronx communities of Norwood, Bedford Park, Fordham and University Heights. Through our Breaking Bronx blog, we focus on news and information for those neighborhoods, but aim to cover as much Bronx-related news as possible. Founded in 1988 by Mosholu Preservation Corporation, a not-for-profit affiliate of Montefiore Medical Center, the Norwood News began as a monthly and grew to a bi-weekly in 1994. In September 2003 the paper expanded to cover University Heights and now covers all the neighborhoods of Community District 7. The Norwood News exists to foster communication among citizens and organizations and to be a tool for neighborhood development efforts. The Norwood News runs the Bronx Youth Journalism Heard, a journalism training program for Bronx high school students. As you navigate this website, please let us know if you discover any glitches or if you have any suggestions. We’d love to hear from you. You can send e-mails to norwoodnews@norwoodnews.org or call us anytime (718) 324-4998.