Chase Bank will shift to a two-day-a-week schedule in one month, scrapping a plan to close the Island branch in October. Meanwhile, RIOC is making progress in its quest for a replacement banking institution.

"RIOC has already met with and shown the site to two banks, both of which expressed interest," RIOC President Robert Ryan told The WIRE on Wednesday. "At this point, we know of at least seven other institutions that have expressed interest, and hopefully we'll have a new tenant to serve the Island within the next few weeks." Ryan praised Chase for its willingness to stay until July, 2001, and to work with RIOC and the State Banking Department in seeking a new bank. He had earlier commended Judy Berdy and other residents for a letter-writing effort that helped.

A letter Chase sent to its customers said ATM machines at the Roosevelt Island branch will be available 24 hours a day, but teller-window hours will be Mondays and Wednesdays only, 9:00 a.m. to 3:00 p.m. starting Monday, October 23.

Ed Kramer, State Deputy Superintendent of Banks, who runs its Consumer Services Division, told The WIRE, "Our role was to have some constructive discussions with the bank." He added, "Chase is to be applauded for re-evaluating the situation and for working with the Roosevelt Island folks and us toward finding a longer-term solution." RIOC President Robert Ryan has sent out letters seeking a different bank to operate an Island branch.

Judy Miller, speaking for Chase, said that customer research had revealed that most people who bank at Chase's Roosevelt Island branch also do their banking regularly at other Chase branches in the City. Chase also encourages its customers to bank on-line, even paying bills, through www.chase.com.

Chase's letter to depositors said it will continue to work with community leaders, RIOC, and the State Banking Department to find another bank for the Island.