WWW.QNS.COM RIDGEWOOD TIMES OCTOBER 28, 2021 3
Ridgewood Savings Bank celebrates 100 years of service
BY JULIA MORO
EDITORIAL@QNS.COM
@QNS
Ridgewood Savings Bank recently
renovated its 10,000-square-foot
space to adapt to the growing
community aft er celebrating 100 years
of service.
Many local offi cials and bank employees
attended a ribbon-cutting ceremony
on the morning of Wednesday, Oct. 20,
to unveil the bank’s newly renovated
main branch, located at 71-02 Forest Ave.
in Ridgewood.
The bank was founded in 1921 and
serves as the largest savings bank in
New York state, with $6 billion in assets.
Ridgewood has 35 branches across New
York City as well as Yonkers, Westchester
and Long Island.
The redesign included dedicating
1,400 square feet to the digital banking
division and cosmetic retouches to fl oors
and walls. The bank also cleaned and
restored its mural painted by Angelo
Magnanti in the 1930s with the inscription,
“Saving is the Secret of Wealth.”
Leonard Stekol, chairman, president
and CEO of Ridgewood Savings Bank, has
been working for the bank for 30 years
and said when he started, there were
many more people visiting the branch in
person. But he said the bank has adapted
to optimize its online banking system,
ATM network and call center.
Ridgewood Savings Bank works to
be an active member of the community.
The bank has donated over $29 million
in Paycheck Protection Program loans
for local businesses, helping to protect
almost 5,000 jobs last year. They also
sponsor local events as well as teach fi -
nancial literacy all over the city.
“We sponsor community events,
concerts, just so many diff erent events in
our neighborhood,” Stekol said. “We’re
looking forward to days we can continue
to gather and sponsor some of these
events that are coming back.”
The bank made it to the Forbes best-instate
banks list in 2021.
“With the reopening of our main offi ce
and branch, Ridgewood continues to
make it possible for hopes and dreams
to be realized,” Stekol said. “Customers
can rely on us for their banking needs
and the modern digital services we off er
to make their lives easier.”
State Senator Joseph Addabbo and
Assembly member Jenifer Rajkumar
attended the ribbon cutting, noting the
extraordinary service Ridgewood Savings
Bank off ered for 100 years.
“Having a business not only survive
for 100 years, but to thrive and continue
to grow is a rarity in this day and age,”
Addabbo said. “Ridgewood Savings
Bank started with humble beginnings
and has evolved into an award-winning
bank with a real commitment to the
community. It is that dedication to their
customers and their community that
have kept this bank going.”
The bank fi rst operated out of a converted
taproom at the intersection of
Myrtle and Forest Avenue. The original
employees would tirelessly hand out
fl yers to residents encouraging them
to keep their savings at the Ridgewood
Savings Bank. The bank stood the test
of time, surviving the Great Depression
and stock market crash of 2008.
“The main branch reopening is a testament
to our history and resilience — a
resilience that has been tested like never
before,” Rajkumar said. “I know Ridgewood
Savings Bank will continue to be
a force for good in New York City for the
next 100 years.”
Celebrating Ridgewood Savings Bank’s grand reopening are (l. to r.) John
Hennessey, main branch manager; Celik Alphonso, assistant manager
of main offi ce; Yarisa Baez, branch manager of Crosby Branch; Leonard
Stekol, president, CEO & chairman; Anthony Simeone, executive vice
president. Courtesy of Ridgewood Savings Bank
REAL ID
IT WILL GET YOU THERE
DMV.NY.GOV
/DMV.NY.GOV
/WWW.QNS.COM
link
link
