Unity Bank opened a new, full-service branch in Lakewood — a move that brings the financial institution’s network to Ocean County.
Located at 1255 Route 70, the branch is situated in an 1,800-square-foot space where Unity established a commercial and residential lending office earlier this year.
In a Dec. 5 press release, Unity said the location now provides the full scope of local banking services in an area that has lost about a quarter of its bank branches over the past decade.
After noting concerns that senior citizens in Ocean County are underserved by the current population of banks, Unity Bank President and Chief Executive Officer James Hughes said, “Our commercial and residential lending team has made significant inroads serving the unmet needs of the local community so the new branch is a logical extension of these efforts. Lakewood has been the fastest growing municipality in the state so this new branch makes good sense for the community and Unity.”
Unity also announced plans to open a branch at 899 Palisades Ave. in Fort Lee next month, growing the bank’s presence in Bergen County.
Details of grand opening events for both locations will be revealed next month, Unity said.
A wholly owned subsidiary of Clinton-based Unity Bancorp Inc., Unity Bank provides financial services to retail, corporate and small business customers at 19 branches in Bergen, Hunterdon, Middlesex, Somerset, Union and Warren counties in New Jersey, as well as Northampton County, Pa.
According to Unity, the bank holds about $2.3 billion in assets and $1.8 billion in deposits.
Hughes said, “Community banks are an engine for economic growth in the areas where they operate. During a time when large banks are closing branches, and other community banks are consolidating, we are expanding our commitment to the local marketplace to bring our full suite of products and services to small businesses and consumers in Ocean and Bergen Counties. We are providing capital for small businesses looking to open their first store, grow their business and hire more employees as well as families looking to purchase a house, or put an addition on their existing home. The heart of our business is seamless, easy to use deposit accounts with simple payment platforms and a commitment to excellent customer service.”