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At Ridgewood Savings Bank we’re committed to the whole community. Our corporate giving and matching gifts programs support many worthy projects, including hospitals, food banks, volunteer fire and ambulance services, youth programs and educational and housing initiatives within our communities.
We are a true community bank dedicated to not only brightening the path of banking, but also enhancing the true meaning of caring for others. We believe that banking is not only the interest from deposits or the interest on loans, but more importantly, the interest we devote to supporting our communities. We don’t think globally, we think locally.
Our employees dedicate time, talent and energy to dozens of local programs and regularly serve on the boards of civic and charitable organizations. Just click on our calendar of events to see what the folks at Ridgewood Savings Bank are up.
View a partial list of organizations that we supported in the past year.
Way back in 1920, a group of fourteen local Ridgewood residents got together with the idea of forming a new mutual savings institution to serve the people of their community. Working purely towards the common good and without regard for personal gain, our founders had high hopes for the success of the bank formed "for the people, by the people."
And it worked. The people of the surrounding communities responded with such zeal that Ridgewood Savings Bank weathered the cataclysm of the great depression and was soon able to expand.
In 1940 the bank took the first of many strong steps forward with the opening of a branch in Forest Hills, Queens. Other branches quickly followed and today you'll find Ridgewood Savings Bank in neighborhood communities throughout the New York Metropolitan area.
However, our story does not end here. Plans are currently on the drawing board for the further expansion and development of Ridgewood Savings Bank. Over the years we have endeavored to be the unfailing friend of the many thousands who recognize the wisdom of keeping their hard-earned money in a mutual savings bank. "Success through Service" explains how Ridgewood Savings Bank has earned the high esteem and confidence we currently enjoy.
How It All Began
A butcher, a baker (no candlestick maker), but also an undertaker, an attorney, a physician and nine other local residents got together at a meeting in Ridgewood, Queens in late 1920. Their purpose: the organization and formation of a new mutual savings institution to serve the people of the community.
Though these men had high hopes for the success of the bank they were forming, it must be said that none of them ever dreamt that one day that bank would grow to have a billion dollars in assets.
The Ridgewood Savings Bank opened its doors (our name then was The Savings Bank of Ridgewood) on June 18, 1921, in a converted taproom at Myrtle and Forest Avenues-the site of the bank's current headquarters.
Growth was considerable, even from the start. And one of the reasons why the people of the communities surrounding the bank responded with such zeal to its opening certainly lies in the zeal with which the original trustees promoted "their" bank. These men divided the area up into sections, putting each trustee in charge of handing out flyers and otherwise inducing local residents to keep their savings dollars at the new Ridgewood bank.
The original trustees and officers worked hard to see the bank, their dream, develop and prosper. During the bank's first year of operation, none of the officers collected any salary. And all officers and trustees "pitched in" when required. In fact, it was not uncommon, during the early days, to see one of the trustees filling in for a teller, taking deposits from one of the new bank's customers.
By 1923, after two years of operation, the bank was very proud to make an important announcement: more than 2.8 million dollars in deposits had been taken in! The bank thought enough of this achievement to take a full page ad in the Ridgewood Times of June, 1923 to proclaim the news.
Over the years, Ridgewood Savings Bank grew and prospered. In 1929, the cornerstone was laid for a new headquarters building on the site of the first office. This structure, since enlarged and expanded several times, is still the bank's main office. In 1940, the bank took a big step forward, with the opening of its first branch office, in Forest Hills. The building, at the intersection of Queens Boulevard, and 108th Street, was then (and is today) one of the most graceful in Queens County. The bank was proud that the building won the 1939 Queens Chamber of Commerce award for excellence in architecture and also was made a landmark on May 30, 2000.
Other branch offices followed and continue to follow the tradition of banking at Ridgewood throughout Queens, Bronx, Brooklyn, Suffolk and Nassau Counties. In 2007, City and Suburban Bank joined our team, increasing the size of our family to include 12 more branches serving the Bronx, Manhattan and Westchester County!
Ridgewood Savings Bank is a Conventional Mutual Savings Bank. This means that unlike a public institution, Ridgewood does not have stockholders. We operate instead for the benefit of our depositors and customers, whose continued faith and loyalty is the essential ingredient to our continued success. Our bank is managed on a day-to-day basis by a board of trustees. Like most mutual savings banks, Ridgewood's primary business is to collect personal savings and to provide financial services, including consumer loans and mortgages, to consumers and our communities. Although we primarily deal with personal accounts, our business is expanding to include services to commercial customers as well.
As well as its 35 banking offices Ridgewood has a Mortgage Center located at the Garden City Park Branch and in Hicksville. We have a Retirement Plan Services Department in Bensonhurst. The Training Department is located at Myrtle Avenue and 67th Place in Glendale and our Maintenance Department is on Plaza Road in New Hyde Park. There is another Training Center in Hicksville and in Morris Park in the Bronx. We are also proud to say that we are the only bank in New York with a Mobile Branch that travels to several locations in our service area!
The people of Ridgewood Savings Bank have been proudly serving our local communities since the bank was founded back in 1921. A lot of things have changed through the years, but one thing has remained the same: our commitment to meeting the needs of our customers and communities.
Ridgewood Savings Bank is convenient, courteous, comfortable and secure. Whatever your financial needs, you'll find the valuable products and services you want.
Ridgewood Savings Bank is proud to offer unparalleled customer service and innovative products. Our commitment to quality customer service extends through every Ridgewood Savings branch; Global ATM; 24/7 Telephone Banking Service and via the Worldwide Web into the homes and workplaces of our loyal customers.
Ridgewood Savings Bank is also dedicated to community investment. Whether it's by providing affordable mortgage financing, being involved in charities, supporting educational organizations, or simply assisting those in need, Ridgewood Savings Bank wholeheartedly strives to be a leading corporate citizen.
As New York's largest mutual savings bank, Ridgewood has no stockholders. The faith and confidence of our depositors have enabled the bank to grow and prosper. Their continued loyalty is the essential ingredient that will give us the ability to realize our future goals.
We're proud of our history as a financial institution. Proud to stand behind our excellent products and services. And proud of our community partnerships. These may seem like little things to big banks, but at Ridgewood we believe "great oaks from little acorns grow".
Come to Ridgewood Savings Bank. And let us tend to your financial future.
Working at Ridgewood
Thanks for visiting Ridgewood Savings Bank.
We are always looking for talented people to join our team. That's one of the reasons Ridgewood is such a great place to work and grow. When you join our service-oriented team, you can expect a great career full of exciting opportunities and challenges.
Our high level of personalized service is the key difference between Ridgewood and other banks. If you want to work for a company that considers quality customer service an important corporate value, then Ridgewood Savings Bank is the place for you.
As a Ridgewood employee, you'll receive a competitive salary, and if you are a full time employee, a comprehensive benefit program including healthcare, a profit sharing and 401(k) plan as well as many other valuable benefits and programs that will help you meet your personal goals.
As an equal opportunity employer, Ridgewood Savings Bank values diversity in our workplace. EOE/M/F/vet/disability. Please contact us.