Franklin Square, New York

Franklin Square is a hamlet (and a census-designated place) in Nassau County, New York, United States. The population was 29,342 at the 2000 census.

Geography

Franklin Square is located at (40.701722, -73.676549).

According to the United States Census Bureau, the CDP has a total area of 2.9 square miles (7.5 km²), all land.

Demographics

Franklin Square is known for its large Italian community. As of the census of 2000, there were 29,342 people, 10,187 households, and 7,833 families residing in the CDP. The population density was 10,169.2 per square mile (3,920.1/km²). There were 10,364 housing units at an average density of 3,591.9/sq mi (1,384.6/km²). The racial makeup of the CDP was 91.97% White, 0.99% African American, 0.11% Native American, 3.79% Asian, 0.01% Pacific Islander, 1.75% from other races, and 1.38% from two or more races. Hispanic or Latino of any race were 6.89% of the population.

There were 10,187 households out of which 31.4% had children under the age of 18 living with them, 62.9% were married couples living together, 10.4% had a female householder with no husband present, and 23.1% were non-families. 19.9% of all households were made up of individuals and 11.3% had someone living alone who was 65 years of age or older. The average household size was 2.87 and the average family size was 3.30.

In the CDP the population was spread out with 22.0% under the age of 18, 7.1% from 18 to 24, 29.6% from 25 to 44, 22.7% from 45 to 64, and 18.6% who were 65 years of age or older. The median age was 39 years. For every 100 females there were 89.9 males. For every 100 females age 18 and over, there were 86.3 males.

The median income for a household in the CDP was $60,998, and the median income for a family was $69,420. Males had a median income of $50,805 versus $35,207 for females. The per capita income for the CDP was $24,149. About 3.7% of families and 5.0% of the population were below the poverty line, including 4.8% of those under age 18 and 7.7% of those age 65 or over.

History

Founding father, Andrew Hoffman, founded the town in 1870. He was a farmer and businessman. Also, the first Catholic mass on Long Island was held in his home. He also founded Elmont, New York, immediately west of Franklin Square.

Franklin Square was the home of the Franklin National Bank, once the nation's 20th largest bank. Under the leadership of Arthur T. Roth, the Franklin National Bank introduced many banking innovations, such as

• The bank credit card
• The drive up teller window (1950)
• Junior savings accounts (1947)
• A no-smoking policy on banking floors (1958)

On 8 October 1974, the Franklin National Bank was declared insolvent due to mismanagement and fraud, involving losses in foreign currency speculation and poor loan policies. This caused massive losses for its stockholders, resulted in jail and disgrace for its management; Italian financier and CEO Michele Sindona was poisoned in his cell in 1986 while serving a life-sentence for his part in this affair. It was at the time the largest bank failure in the history of the country, and forced US banking policymakers to reexamine and reassess regulation of international banking.

References

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