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Dear Valued Customers

December 2022

It’s at this time of year that we reflect on what matters most to us. For me, the holiday season represents all that is good in life and is best captured by simply expressing thanks, and appreciation to family, friends, and each other.

Like an old friend, Ridgewood Savings Bank has been with you for more than 100 years. It’s that friendship and spirit that keeps us going.

It’s that friendship that I thank you for continuing with us.

Because of the trust you place in us, for the third consecutive year, Forbes added us to its list of “America’s Best-in-State Banks,” and Bankrate recognized Ridgewood as a "Top Regional Bank of 2022”.

As we look ahead to 2023, I wish to take stock of how we helped to improve your banking experience with us and reemphasize our strong commitment to you as we enter the new year.

During 2022, Ridgewood Savings Bank:

  • Took part in “HomeFirst Down Payment Assistance Program” helping eligible first-time homebuyers in NYC qualify for up to $100,000 in mortgage costs.
  • Introduced the new eco-conscious paperless Free Green Checking account with ZERO monthly fees, and with each new account opened, donated to ‘One Tree Planted’ to have a tree planted within a U.S. National Forest.
  • Enhanced Premier Checking Account making it more attractive and competitive with added perks, more competitive interest rates on higher balances, free EZShield® ID Protection Plus, and much more.
  • Launched Ridgewood BankOn Checking, a low-fee and affordable checking account with no overdraft fees.
  • Expanded our Student Advantage Checking Account so that teens (ages 14-17) can open an account and acquire a free debit card. This feature helps young people to better understand and manage their finances.
  • Offered new Student Lending so students can apply for private student loans through “College Ave Student Loans” right from our website.
  • Announced the SBA 7 (a) loan program to help small businesses get the capital needed to grow and succeed.
  • Introduced a Currency Exchange Service at every Ridgewood Branch, giving customers access to 80+ world currencies.
  • Added International Wire Transfers so customers can quickly and safely send money.
  • Welcomed tri-state area residents to bank at Ridgewood and take advantage of the suite of products and services we offer including our Smart Move Savings.
  • Relocated the White Plains Road branch nearby to a state-of-the-art site to better serve customers.

Recently, Ridgewood was selected as a leading example of the good qualities a mutual savings bank should represent in the community. We are delighted to share our story – a relationship with our customers that has brought countless generations of New Yorkers greater prosperity, investment, and peace of mind.

I am excited about the coming year. In 2023, we plan to continue to “Multiply the Good” in all of our communities and roll out even more new products and services. We’ll also cut the ribbon on our newest branch in Yaphank, located in Suffolk County.

So, at this holiday season, and on behalf of our Ridgewood Savings Bank family, we’re feeling very thankful to you, our friends, our families, and our incredible community.

From our family to yours, wishing you a very healthy and happy New Year!

Sincerely,

 

Leonard Stekol


Leonard Stekol
Chairman, President & CEO