Author: Christopher Commons

NEW YORK — The New York-based financial institution will be an early adopter of Zelle^®, to enable consumers to send fast person-to-person payments to nearly anyone with a U.S. bank account.

Quontic Bank announced today that it will join Early Warning’s Zelle Network^® to offer customers a fast, safe and easy way to make person-to-person (P2P) payments. Quontic Bank will be among the first community banks to launch Zelle^®, thanks to its partnership with global financial services provider, FIS.

Zelle^® will be embedded in the Quontic Bank mobile app in Q1 2018, providing Quontic Bank customers access to fast and easy payments. Zelle^® allows for funds to be sent from one bank account to another typically within minutes, when both parties are enrolled, using only a recipient’s email address or mobile number.

The number of financial institutions in the Zelle^® Network has grown to more than 50; with 13 financial institutions currently live with Zelle^® and more launching weekly.

“Quontic Bank is proud to be an early adopter of Zelle^® as we are focused on delivering our customers the latest digital offerings and innovations,” said Steven Schnall, chairman and CEO of Quontic Bank. “Integrating Zelle^® into our Quontic Bank Mobile app helps answer growing customer demand for money movement.”

“Working with Quontic Bank is in line with our strategy to provide a fast and ubiquitous P2P payments solution for financial institutions of all sizes,” said Lou Anne Alexander, group president, payments Early Warning.

“Zelle^® and Quontic Bank will continue to help make customers’ financial lives easier by providing fast, safe and convenient payment options with their friends and family.”

The Send Money with Zelle^® feature will be conveniently available in the Quontic Bank Mobile app early next year. Zelle^® makes digital payments an easy, fast and safe alternative to checks and cash for the 86 million mobile banking customers with access to the Zelle^® Network.

• Using Zelle, Quontic Bank customers will soon have the ability to deliver P2P and disbursements payments that are:
  Easy: Embedded right in the Quontic Bank Mobile app
• Fast: Connected to the Zelle^® Network for payment transaction processing typically within minutes if the recipient is enrolled with Zelle^®. Money is sent directly from one bank account to another.
• Safe: Backed by the security of Quontic Bank.

About Quontic Bank

Quontic Bank is a Member FDIC bank, headquartered in New York City and located in a growing number of states. We offer everything from checking and savings accounts to small business loans and home mortgages, as well as online and mobile banking. Our goal is to provide 5-star customer service while making banking easy and the mortgage process hassle-free. Learn more at www.quonticbank.com.

About Zelle®

Brought to you by Early Warning, an innovator in payment and risk management solutions, Zelle makes it easy, fast and safe for money to move. The Zelle Network® connects the nation’s leading financial institutions, enabling consumers to send fast person-to-person payments to nearly anyone with a U.S. bank account. Funds are available directly in consumer bank accounts generally within minutes when the recipient is already enrolled with Zelle. To learn more about Zelle and its participating financial institutions, visit http://www.zellepay.com.

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NEW YORK — Quontic Bank now offers its customers access to an additional 28,000 surcharge-free ATMs throughout the United States as part of a new partnership with MoneyPass^®, one of the nation’s largest surcharge-free ATM networks.

MoneyPass^® Network ATMs – conveniently placed at other financial institutions and retailers – are found within Quontic Bank’s branch footprint, as well as nationwide. Complementing and expanding upon Quontic Bank’s existing fleet of ATMs, the MoneyPass^® surcharge-free ATM network makes accessing cash quick, easy and surcharge-free for Quontic Bank customers.

“Nobody likes paying ATM fees. That’s just common sense. When we founded Quontic Bank, we wanted to create a Member FDIC bank that has as few fees as possible,” said Steven Schnall, chairman and CEO of Quontic Bank.

“We realize that it may not always be convenient for our customers to come to the Quontic Bank branch when they need cash, so they shouldn’t be penalized if they need to pull cash from an ATM located elsewhere. That’s why we’re happy to grow our surcharge-free ATM offerings through MoneyPass^®.”

Quontic Bank customers already have surcharge-free access to any Citibank^® branch ATM in the U.S., as well as at more than 55,000 surcharge-free ATMs worldwide through the Allpoint^® Network. The addition of MoneyPass^® and its 28,000 surcharge-free ATMs gives Quontic Bank customers even more convenience.

“MoneyPass^® enables a financial institution to provide convenient, affordable access to their cash,” said Douglas Miraglia, president of MoneyPass^®.

“We’re honored that Quontic Bank chose to participate in the MoneyPass^® Network. Our nationwide surcharge-free ATM coverage helps support their wide ranging locations, allowing them to expand their ATM fleet coast-to-coast.”

Quontic Bank customers can easily find MoneyPass^® surcharge-free ATMs using its online locator at www.moneypass.com. The MoneyPass^® ATM Locator app is also free to download for Apple and Google smartphones, allowing users to search for MoneyPass^® surcharge-free ATMs by entering an address or ZIP code or using a current location.

About Quontic Bank

Quontic Bank is a Member FDIC bank, headquartered in New York City and located in a growing number of states. We offer everything from checking and savings accounts to small business loans and home mortgages, as well as online and mobile banking. Our goal is to provide 5-star customer service while making banking easy and the mortgage process hassle-free. Learn more at www.quonticbank.com.

About MoneyPass^®

MoneyPass^® is a network of Elan Financial Services, one of the nation’s leading providers of comprehensive ATM and debit card processing solutions for financial institutions, Independent Sales Organizations (ISOs), and retailers. MoneyPass^® provides surcharge-free access at 28,000 ATMs across the United States, allowing cardholders to access their money where they live, work, and travel. With more than 1,700 participating organizations and 90 million active cards, the MoneyPass^® Network places an emphasis on cost-efficient membership options, flexible terms, and accessible locations. For more information, visit www.moneypass.com.

Media Contacts

MoneyPass^®
Dana Stone
303-809-2199

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MIAMI — Quontic Bank sent three pallets – nearly 5,000 bottles – of emergency drinking water to Puerto Rico to aid Hurricane Maria response efforts.

The New York City-based financial institution, which has a location in Coral Gables, Fla., delivered two hundred 24-pack cases of bottled water to a hurricane relief collection center in Miami before it was shipped to Puerto Rico.

“Many of our customers are either from Puerto Rico or have friends and family there—and they’re hurting in the wake of the hurricane. As a community bank, we have an obligation to look out for our community and help where we can,” said Ray Duran, who manages Quontic Bank’s Coral Gables location.

“Quontic Bank sent 2.5 tons of water to Puerto Rico not only to help those devastated by the hurricanes there, but to help create a culture of where people help one another whenever and wherever they can.”

Six weeks after Hurricane Maria made a direct hit on the Caribbean island, a million people in Puerto Rico still lack clean water, according to published reports. Municipal water services have not been restored for about a third of the island, reports said.

Ryan P. Merritt, director of lending at Quontic Bank, personally donated one hundred cases of bottled water for hurricane victims in Puerto Rico.

“It’s the right thing to do,” he said.

The 2.5 tons of bottled water was first delivered by Quontic Bank to a hurricane relief center at 1415 West 49th Street in Miami, which was organized by Florida State Sen. Rene Garcia, R-Hialeah and Miami-Dade Commissioner Esteban “Steve”Bovo Jr., among other private partners. The pallets of water from Quontic Bank, along with other essentials donated by the community, were packed into a 40 foot shipping container and will arrive in Puerto Rico early next week.

“It is great to see a community bank like Quontic Bank lending a hand in a time of real need. This is a true testament of what community service is all about,” said Commissioner Bovo.

“A community’s true colors are seen during times of trouble. It fills me with great pride to see the interaction of both public and private sectors coming together for a common good.”

The water will be distributed by Unidos Por Puerto Rico, a not-for-profit organization established by the First Lady of Puerto Rico, according to a spokesperson for Sen. Garcia. Univision PR will oversee the distribution, ensuring it gets to remote parts of the island, the spokesperson said.

Sen. Garcia thanked Quontic Bank for “stepping up and helping those in need after this devastating hurricane season.”

“Our community and world could use more corporate citizens like Quontic Bank, who believe in helping and giving back to those in need,” said Sen. Garcia.

“Thank you for meeting the challenge and helping so many in need.”

 The New York City-based financial institution, which has a location in Coral Gables, Fla., delivered two hundred 24-pack cases of bottled water to a hurricane relief collection center in Miami before it was shipped to Puerto Rico. “Many of our customers are either from Puerto Rico or have friends and family there—and they’re hurting in the wake of the hurricane. As a community bank, we have an obligation to look out for our community and help where we can,” said Ray Duran, who manages Quontic Bank’s Coral Gables location. “Quontic Bank sent 2.5 tons of water to Puerto Rico not only to help those devastated by the hurricanes there, but to help create a culture of where people help one another whenever and wherever they can.” Six weeks after Hurricane Maria made a direct hit on the Caribbean island, a million people in Puerto Rico still lack clean water, according to published reports. Municipal water services have not been restored for about a third of the island, reports said. Ryan P. Merritt, director of lending at Quontic Bank, personally donated one hundred cases of bottled water for hurricane victims in Puerto Rico. “It’s the right thing to do,” he said.The 2.5 tons of bottled water was first delivered by Quontic Bank to a hurricane relief center at 1415 West 49th Street in Miami, which was organized by Florida State Sen. Rene Garcia, R-Hialeah and Miami-Dade Commissioner Esteban “Steve” Bovo, Jr., among other private partners. The pallets of water from Quontic Bank, along with other essentials donated by the community, were packed into a 40 foot shipping container and will arrive in Puerto Rico early next week. “It is great to see a community bank like Quontic Bank lending a hand in a time of real need. This is a true testament of what community service is all about,” said Commissioner Bovo. “A community’s true colors are seen during times of trouble. It fills me with great pride to see the interaction of both public and private sectors coming together for a common good.” The water will be distributed by Unidos Por Puerto Rico, a not-for-profit organization established by the First Lady of Puerto Rico, according to a spokesperson for Sen. Garcia. Univision PR will oversee the distribution, ensuring it gets to remote parts of the island, the spokesperson said.Sen. Garcia thanked Quontic Bank for “stepping up and helping those in need after this devastating hurricane season.” “Our community and world could use more corporate citizens like Quontic Bank, who believe in helping and giving back to those in need,” said Sen. Garcia. “Thank you for meeting the challenge and helping so many in need.”

About Quontic Bank

Quontic Bank is headquartered in New York City and located in several states. We have a home mortgage office in Coral Gables, Fla. and provide diverse mortgage solutions throughout South Florida. Our goal is to provide 5-star customer service while making the mortgage process hassle-free. Learn more at www.quonticbank.com.

Media Contacts

Office of Commissioner Esteban Bovo, Jr. (District 13)
Chastity Acosta
305-820-8424
[email protected]

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NEW YORK — The New York City-based bank has now earned this distinction for 8 consecutive quarters. Quontic Bank has earned a coveted 5-star rating from BauerFinancial, the nation’s premier independent bank rating firm.

A BauerFinancial 5-star rating indicates the bank excels in areas of capital adequacy, profitability, asset quality and historic trends, among other factors. The New York-based financial institution has earned and maintained a 5-star rating from Bauer for eight consecutive quarters.

“This 5-star rating is a testament to the work we do every day to ensure our continued financial strength while providing our customers with superior service,” said Steven Schnall, chairman and CEO of Quontic Bank.

“We are proud of this distinction.”

BauerFinancial has been independently reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No financial institution can pay for or opt out of a Bauer rating.

“By earning Bauer’s highest 5-star rating, Quontic Bank proves to its customers and the community that it is committed to their needs and to financial discipline,” said Karen L. Dorway, president of BauerFinancial.

“As times change, so do customers’ needs. Community banks like Quontic Bank excel at finding ways to meet those ever-changing needs while maintaining discipline and prudent underwriting.”

About Quontic Bank

Headquartered in New York City, Quontic Bank is a Member FDIC community bank that’s intensely customer focused and relationship driven. Through a growing network of branches and loan production offices, we provide a full suite of competitively priced deposit products, residential and commercial mortgages and small business loans, as well as leading-edge tools that give you convenient access to your money! Learn more at QuonticBank.com.

About BauerFinancial

Coral Gables, Fla.-based BauerFinancial, Inc. is the nation’s leading independent bank and credit union rating and research firm. Star-ratings are all available for free at bauerfinancial.com.

Media Contacts

BauerFinancial
1-800-388-6686
[email protected]

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NEW YORK — Quontic Bank chairman and CEO Steven Schnall issued the following statement today after President Donald J. Trump’s speech on tax reform in Springfield, Missouri:

“Today President Trump reaffirmed his commitment to stimulate the economy and create jobs by fundamentally reforming our tax code. From a community banker’s standpoint, a reduction in the federal tax rate to 15 percent would have a dramatic stimulative impact.

“Community banks crave capital for growth. By reducing the federal rate by 20 percent, banks will have the opportunity to increase their capital via the additional resultant retained earnings and leverage that newly found capital to fund loan growth. This, in turn, will fuel the bank’s staffing/employment requirements as well.

“Remember, for every dollar of capital a bank retains, it can lend $10 to $12 to businesses and consumers. What does that mean? Consider this simplified example: A community bank has $5 million in pre-tax earnings. A federal tax cut of 20 percent will result in the bank being able to create an additional $1 million in capital. This will result in $10- to $12 million in new lending capacity. And, incidentally, that net interest income earned by the bank on this new lending capacity will be federally taxable and thus generate a return to the taxpayers.

“At the end of the day, it’s very simple: reduced taxes equals capital growth, which produces the increased lending opportunities and employment growth that stimulate the economy and produce a higher federal tax base!”

About Quontic Bank

Headquartered in New York City, Quontic Bank is a Member FDIC community bank that’s intensely customer focused and relationship driven. Through a growing network of branches and loan production offices, we provide a full suite of competitively priced deposit products, residential and commercial mortgages and small business loans, as well as leading-edge tools that give you convenient access to your money! Learn more at QuonticBank.com.

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