NEWBURGH – The effort to persuade Key Bank to keep its Lower Broadway, Newburgh branch open is getting stronger.
The city council Monday night went on record calling for it not to close, maintaining it would negatively impact the residents of the east end of the city.
Mayor Judy Kennedy said from a community point of view, it is a wrong
decision, but it is nonetheless, a corporate one.
“In every corporation the answer is the same – they are not making any money; it’s as simple as that. It’s a bottom line issue for them,” Kennedy said. “For us, it’s a community-resident issue and from the perspective of the bottom line, they need to serve the community as a whole, not just one part of the community.”
Attorney and mayoral candidate Jonathan Jacobson noted the bank is a federally-chartered financial institution and has an obligation to serve all parts of the community.
Council members reiterated their call for a credit union to set up shop in the east end to serve its residents.
