Bank on Brooklyn

Bank on Brooklyn (BOB) was formed in 1976 to work against redlining in the East Flatbush and Prospect Lefferts Gardens community. Early recruitment, organizational assistance, and data analysis was provided by the New York Public Interest Research Group, which was working out of Brooklyn College and had recently published Take the Money and Run: Redlining in Brooklyn, which served as early inspiration for the group. BOB formed several chapters in Brooklyn, including the founding chapter in East Flatbush and Prospect Lefferts Gardens (EFPLG). The group convinced several local banks (Greater New York Savings Bank, Independence Savings Bank, Dime Savings Bank, Flatbush Federal Savings and Loan, and Lincoln Savings Bank) to sign agreements committing to provide mortgages at reasonable rates to the EFPLG community. Banks also pledged to advertise their willingness to provide mortgages and to allow BOB to monitor their performance.

The Community Reinvestment Act (CRA), passed in 1977, obligates federally insured depository institutions to meet the credit needs of low and moderate income communities in a manner that is commensurate with sound lending practices. BOB used the CRA to challenge bank attempts to establish new branches outside of the EFPLG community. The group also pressured banks by collecting pledges from community members vowing to withdraw their money unless BOB demands were met. A mortgage hotline was established to field questions from community members about mortgages, financing, and their rights in dealing with banks and brokers. BOB also facilitated building inspections, met with bank regulatory agencies, and played a significant role in forming and supporting the Neighborhood Housing Services of East Flatbush. BOB was later incorporated as Brooklyn Committee for Better Housing.

Flatbush-East Community Development Corporation

Founded in 1977, the Flatbush-East Community Development Corporation (FECDC) was formed to encourage and assist in the development, retention, and revitalization of local businesses. Funded by the New York City Office of Economic Development, the group also worked to aid, sponsor, and coordinate programs designed to eliminate or prevent residential or commercial blight. The FECDC oversaw several member organizations including the Vanderveer Estates Tenant Association, College Glen Community Association, and Avenue D Merchant Association. The group also worked to bring a chapter of Neighborhood Housing Services to East Flatbush.

Neighborhood Housing Services of East Flatbush

In 1978, Congress established the Neighborhood Reinvestment Corporation (NRC), which provided initial grants for the development of Neighborhood Housing Services (NHS), a nationwide program to stimulate reinvestment in urban neighborhoods. In addition to funding, the NRC reviewed applications from local governments, conducted field reviews, and outlined agreements. A series of workshops were held to select partner cities and establish neighborhood boundaries. Once established, an NHS program operated as a private, nonprofit, tax-exempt community corporation. A neighborhood office and small staff oversaw home rehabilitation counseling, construction monitoring, and financial services. NHS also provided a revolving loan fund, which offered loans to residents who could not meet credit requirements necessary to secure a commercial loan.

At the urging of existing community groups, East Flatbush was selected as a division of NHS New York City. NHS of East Flatbush was overseen by a board of directors made up of local residents, bankers, and local and state government officials. In the first three years (1982-1985) they provided 44 loans totaling $340,000. The office also offered free technical assistance assessing home improvement needs, contract bids, and workshops such as front yard and strip beautification. As of 2023 NHS, of East Flatbush operates as NHS Brooklyn Community Development Corporation.

Mary Gallagher graduated in 1967 from the University of Notre Dame with an M.A. in Latin American History and earned a Ph.D. in Latin American History from the Graduate School of the City University New York. She worked as a translator, transcriber, and later co-editor of The Papers of Robert Morris, a nine-volume documentary history of the finances and the diplomacy of American Revolution. Gallagher also served as assistant editor on The Papers of John Jay and taught undergraduate and graduate history courses at Hunter College, Brooklyn College, and Queens College.

Philip (Phil) Gallagher graduated in 1963 from the College of the Holy Cross with a B.A. in History, followed by an M.A. and Ph.D. in Medieval History from the University of Notre Dame. Gallagher taught Medieval History at Brooklyn College from 1967-2012 and served as the History Department Chair from 1995-2002.

Phil and Mary moved to East Flatbush in 1974, shortly after the birth of their daughter. The couple held several leadership positions in local groups, with Mary specializing in commercial strips, serving as Co-Director of Bank on Brooklyn and President of the Flatbush-East Development Corporation. Phil specialized in housing, serving as Co-Director of Bank on Brooklyn and Chairman of the Neighborhood Housing Services of East Flatbush. After 15 years the couple stepped down from their roles in an effort to see the community's Black residents step into leadership positions.