[ditty_news_ticker id="27897"] Chase Bank Stops Banking Services to Greek Archdiocese and Philoptochos - Orthodox Christian Laity

Chase Bank Stops Banking Services to Greek Archdiocese and Philoptochos


Source: The National Herald

NEW YORK – Chase Manhattan Bank recently notified the Greek Orthodox Archdiocese of America and also the National Philoptochos that it is essentially “throwing them out” and it doesn’t want to do business with them any longer.

The issue was kept secret from both the Archdiocese and the Philoptochos until now.

Sources from within the Archdiocese told The National Herald that Chase arrived at this decision because the Archdiocese continuously issued checks with insufficient funds in the accounts and as result the checks bounced.

This check-bouncing practice increased over the last few years, especially after the death of the great benefactors of the Archdiocese Michael Jaharis and Nicholas Bouras, who were making big contributions and intervening with Chase in order to save the Archdiocese from embarrassment.

We clarify here that the Philoptochos didn’t issue bad checks, but TNH has learned it is actually a victim by association because of the use of the name Greek Orthodox, and thus it was identified with the Archdiocese.

Philoptochos President Maria Logus, who is an attorney, did not respond to TNH’s request for comment, but Philoptochos members spoke with TNH under conditions of anonymity and said the issue with Chase did arise at their meeting, but the leadership did not provide any details, trying to prevent any leak of information.

Archdiocesan Council Vice Chair George Tsandikos and CFO Fr. Soterios Baroody also did not respond to TNH’s request for comment.

Meanwhile, the main issue at the general assemblies in many parishes is the revealing articles of The National Herald about the “bankrupt” condition of the Archdiocese. They all seem to have a common proposal to stop sending monthly contributions to the Archdiocese and instead to deposit them in an escrow account until a detail financial report is given by professional independent auditors, preferably the forensic type.

At the St. Nicholas parish in Flushing, it was decided that a letter should be sent to the Archdiocese requesting a detailed financial report as well as the dismissal of Fr. Baroody from his position as CFO. Also, a proposal was made to withhold to funds to the Archdiocese, but Fr. Paul Palestis stood up and made an appeal to the general assembly not to procced with that proposal, because a he said “I would be placed in a very difficult position.” Thus, the members of the assembly, out of respect for Fr. Palestis, did not procced with that proposal, and for now will continue sending the funds to the Archdiocese.

Also, a lengthy discussion took place on November 16 during the general assembly of the Sts. Peter and Paul parish in Chicago about the Archdiocese’s dire financial situation. They didn’t take any action to withhold the funds because there was no quorum, but they are going to have a special general assembly in the next few weeks.

Many parish council members and presidents, as well as the many in the Greek-American community at large, are commenting about Archbishop Demetrios’ appointment of Metropolitan Alexios as the Presiding Hierarch for the Audit Committee.

Also, extensive discussions are taking place in many parishes that the metropolitans and the Metropolises are totally unchecked  in their finances and that the financial reports they provide at the local Clergy Laity Congress are really substandard and full of generalities.



  1. Photius Underwood on

    People need to ask why is there no forensic audit of the Archdiocese itself. Sure they say there will be one of St. Nicholas but these new men of power who have arrived on the scene are refusing to have a forensic audit of the Archdiocese. This is all you really need to know about how sincere these many new faces are when it comes to change. Meanwhile, Greek Orthodox Parishes across America need to ask WHERE has Archbishop Demetrios asked for forgiveness on behalf of the Church’s leadership. Show me one example. The reality is that the only thing that the GOA understands is power and money. Parishes need to unite and choke off the money supply to the Archdiocese. It is the only way to bring the corruption to a halt.

  2. Greatly Saddened on

    Photius … I could not agree with you more. The fact is the archdiocese seems to want to avoid a forensic audit, supposedly because of the cost factor. Can you believe it? After all the alleged misappropriated monies and financial crisis at the GOA and now they show concern over the cost of a forensic audit. To think this is not the first time this is happening too. As the saying goes … first time … shame on you … second time … shame on me!

    Yes, it has been said it is unchristian to hold back monies to the archdiocese. We’ll if so, what do we do, allow the archdiocese to continue to misappropriate money? How and when will they learn? As I said, this is not the first time and if past practice is any indication, probably not the last either. Both the hierarchy along with the archdiocesan council are to blame, but no one has had the decency to fess up to the mistakes! And I venture to guess nor will anyone be held responsible for this mess. It’s … pay … pray and obey!

    I believe Hellenic College and Holy Cross Seminary are owed money. I also believe the priests pension fund may also be, as well as
    the supposedly restricted Saint Nicholas Gronud Zero fund. Where and when does this all end? All they seem to do is deflect and appoint people from within the organization to follow up on this shameful and ongoing disaster.

    Laity continues to be disgusted and is leaving at an alarming rate but they refuse to print the results of the findings. In addition, not once have I either heard nor seen anyone from the archdiocese ask for forgiveness or repent for their actions or lack thereof.

    It’s about time laity finally stand up and begin to demand answers from these seemingly irresponsible people, who seem to have no shame, nor seem have a conscience. Perhaps they should practice what they preach. This is not what I would call Christ centered but rather self centered. This is the stewards’ money, not their own to do with whatever they wish. I guess they have lost sight of this. They have a fiduciary responsibility to us as well as to themselves and rightfully so.

    As much as I dislike saying it, we are the ones who pay their salaries. I don’t begrudge them but they also should feel a sense of responsibility to us when it comes to accounting where the money has gone. Position also has responsibility and begins at the top with His Eminence Archbishop Demetrios. The buck stops with him. He should be setting the example! May God have mercy on us all!

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