EmigrantDirect is the online banking division of Emigrant Bank. The Bank was founded by Irish emigrants as a mutual savings bank in 1850. By the 1920’s it had grown to become the largest savings bank in the nation. EmigrantDirect offers flexibility, freedom, and security that is unsurpassed in personal banking today. The American Dream Savings Account has no fees or service charges, so you can earn high interest on every single cent you deposit without having to worry about giving it back in fees.