FOR BREAKING NEWS VISIT WWW.QNS.COM JULY 30, 2020 • THE QUEENS COURIER 11
Acts of Kindness Send your Acts of Kindness to editorial@qns.com
Ridgewood Savings Bank makes donations
toward COVID-19 relief and racial equality
BY JASMINE PALMA
editorial@qns.com
@QNS
In light of the COVID-19 crisis and
the ongoing national discussion on racial
equity and justice, Ridgewood Savings
Bank has augmented its corporate contributions
in an altruistic eff ort to help the
communities it serves.
During the second quarter of 2020,
the 99-year-old community mutual savings
bank donated $25,000 to civic nonprofi
ts, helping an estimated 120 organizations
locally address issues stemming
from COVID-19.
“We are helping fi rst responders, food
banks and other safety net programs
that perform vital roles in improving the
life and welfare of many residents,” said
Leonard Stekol, the chairman, president
and CEO of the bank.
From the beginning of the pandemic,
the bank has shown its support through
diff erent means.
Monetarily, Ridgewood Savings Bank
has supported housing programs, youth
development centers, food banks, economic
opportunity programs and more.
Th e bank has also provided KN95 masks
to local hospitals and Echo Show devices
to senior homes in response to a shortage
of medical supplies as coronavirus cases
swamped the health care system.
Th e bank put in orders of $24 million
in Paycheck Protection Program (PPP)
loans by the end of June, presenting relief
to more than 350 small businesses aff ected
by the economic downturn caused by
the pandemic. Th e loans were used to help
businesses pay their employees and cover
overhead costs.
To help contribute toward the growing
conversation surrounding police brutality
and racial bias in the U.S., Ridgewood has
provided grants to organizations championing
racial equity and reform, such as
the NAACP chapter in Williamsbridge in
the Bronx and ERASE Racism in Nassau
County.
According to the bank, philanthropic
behavior is at the nucleus of the bank’s
ideals.
Aiming to “Multiply the Good,”
Ridgewood’s principle is to bolster communities
by assisting customers gain
fi nancial stability.
“We also ‘Multiply the Good’ by supporting
nonprofi ts that play such an
important role and are the linchpin of
the communities in which they serve,”
Stekol said.
Courtesy of Ridgewood Savings Bank
/WWW.QNS.COM
link
link
link
link
