Dear Valued Ridgewood Savings Bank Customers and Community Members
September 2024
With the warm summer days behind us and the crisp autumn air settling in, our 36 branches are brewing up warm, comforting coffee to help you savor the season. So, come on in and enjoy a steaming cup. As the leaves change and the days grow shorter, I would like to take a moment to share some important information to keep in mind.
As the back-to-school season is in full swing, I am pleased to announce a range of student-focused products designed to support our younger customers in their educational pursuits and as they build their savings.
For us, financial education doesn’t stop when the school year ends. We offer our online Ridgewood Financial Academy, a free, comprehensive resource designed to empower individuals of all ages to enhance their financial knowledge. Combined, our efforts help to foster a financially literate community.
- Our Student Advantage Checking account is a free account that assists students ages 14 to 23* with $0 in monthly fees, free checks, free debit card with rewards, a highly rated mobile app and access to 90,000 ATMs and ID Theft Protection.
- Over the last hundred years, many of our customers began their savings history with a Ridgewood passbook, and that tradition continues with our Youth Savings Account. Designed to help children save and learn to manage money, we will match up to $10 upon opening each account**. There are no monthly fees to worry about nor a minimum balance required. Customers do need to be 17 or younger to qualify.
- We’ve partnered with College Ave Student Loans® to help take the stress out of paying for college. Whether its searching for competitive rates, refinancing, or choosing smart options to pay, start your search here and explore the many videos to better understand college financing.
- Ridgewood’s Financial Academy Achieve for K12 Program is a great way for teens to get free, quick, and easy lessons on budgeting, smart savings, and investing, all providing invaluable knowledge.
All our interest-bearing accounts come with competitive interest rates and all student accounts come with flexible withdrawal options to ensure students have easy access to their funds when needed. We believe that by proactively saving early on, you can better plan and provide the best opportunities for your children.
With schools now open we will also be hosting financial literacy workshops and educational seminars to equip both parents and students with essential money management skills. We understand that financial education plays a crucial role in empowering individuals to make informed decisions about their finances, and we are committed to providing the resources to help your financial well-being.
Our team of dedicated professionals is ready to assist you and your child in opening an account or answer any questions you may have regarding these products. We encourage you to visit any of our branches or call our customer contact center at 718-240-4778. We are here to help guide you through the process.
With the school year now underway, let us come together as a community and support one another. As we have since 1921, Ridgewood Savings Bank is here to help you navigate your financial journey and ensure a brighter future for you and your loved ones.
Thank you once again for choosing us as your trusted financial partner. We look forward to serving you and continuing to make a positive difference in the lives of our valued customers.
Warm regards,
Leonard Stekol
Chairman, President & CEO
Products, services, terms and conditions are subject to change without notice.
*A parent or legal guardian will be required to be the secondary joint owner on the account for students ages 14 to 17.
**One account per person. Up to $10 will be credited upon account opening and will be reported as interest income with a 1099 form. Member FDIC.