About Ridgewood Savings Bank
Today, Ridgewood Savings Bank is the largest mutual savings bank in New York State. With $6 billion in assets, Ridgewood operates 35 branches across New York City boroughs of Manhattan, Queens, Brooklyn and the Bronx, as well as Yonkers, Westchester and Long Island. But it all started as the dream of 14 entrepreneurs living in Ridgewood, Queens. They believed that a bank should be actively involved in its community, and they made it their mission to create a better financial institution.
The bank was chartered as The Savings Bank of Ridgewood on June 18, 1921. The bank first operated out of a converted taproom located at the intersection of Myrtle and Forest Avenue. The original trustees worked tirelessly to build their business. They would personally hand out flyers to local residents encouraging them to keep their savings at the new Ridgewood Bank. In the early days, it was not uncommon to see one of the trustees filling in for a teller or taking deposits from one of the bank’s new customers.
The long days and late nights paid off. The people of the surrounding communities came in droves to save their money at The Savings Bank of Ridgewood. In 1929, the cornerstone was laid for a new headquarters in the bank’s original location, and the name was changed from The Savings Bank of Ridgewood to Ridgewood Savings Bank… Continue reading about Ridgewood Savings Bank here
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