American Community Bank, located at 799 Hillside Ave. in New Hyde Park, presented the Greater New Hyde Park Chamber of Commerce with a $2,500 grant.
Jeanette Frisina, past president of the Greater New Hyde Park president, said each branch manager of the bank was allocated a certain amount of money to give to local businesses or organizations. This was part of a $5 million grant under the Small Business Recovery Grant Program that was offered by the Federal Home Loan Bank of New York. The program provides grant funds to benefit bank members’ small businesses, including farms and non-profit customers.
Through the program, members will be able to provide grants of up to $10,000 to qualifying small businesses that have faced economic challenges due to the rate environment, inflation, supply-chain constraints and/or rising energy costs.
Zaleena Schooler, assistant vice president and the branch manager at the New Hyde Park bank, and fellow staff members presented the chamber with grant money on Oct. 8.
“The American Community Bank and the Federal Home Loan Bank of New York recognize the challenges faced by nonprofit businesses due to inflation, interest rate and supply chain issues,” said Schooler, who is also on the chamber board. “And the Greater New Hyde Park chamber has unwavering dedication and service to the community, which has not gone unnoticed so we nominate them for a grant under the 2023 FHLBNY Small Recovery Grant Program.”
Schooler said the bank nominated the chamber to show its recognition and appreciation for providing “an invaluable resource to the community.” Frisina said the chamber was accepted right after the nomination.
Schooler said this money will go towards scholarships and the local schools.
“We haven’t allocated the money yet, but it will most likely go towards beautification in the community, whether it’s planting flowers or trees,” Frisina said.
Schooler said the chamber is a valued customer of the bank, which has served the Long Island and local communities for 25 years.
“At American Community Bank, we pride ourselves on being a community bank that supports our community and customers,” Schooler said. “They are the reason of our continued success and this is our way of giving back.”
