Ridgewood Savings Bank facts for kids
 |
|
| Mutual savings bank | |
| Industry | Financial services |
| Founded | Ridgewood, New York June 18, 1921 |
| Headquarters |
Ridgewood, New York
,
|
|
Area served
|
New York metropolitan area |
|
Key people
|
Leonard Stekol, Chairman and CEO |
| $13 million | |
| Total assets | $6.8 billion |
|
Number of employees
|
580 |
Ridgewood Savings Bank is a special kind of bank called a mutual savings bank. This means it's owned by its customers, not by shareholders. It's the biggest mutual savings bank in New York State! The bank started way back in 1921. Today, it has 36 branches, which are like local offices. You can find these branches all over New York City's five main areas, on Long Island, and in Westchester County.
Contents
How Ridgewood Savings Bank Started
The bank officially began on June 18, 1921. It was first known as the Savings Bank of Ridgewood. Fourteen local business people in Ridgewood, Queens had an idea. They wanted to create a bank that would help the people in their community.
The very first office for the bank was in a building that used to be a Taproom. A taproom is a place where drinks are served. This first office was located where Myrtle and Forest Avenues meet.
Building a New Home
In 1929, the bank started building a new main office. This new building was put in the exact same spot as the first one. When they started building, they laid a special stone called a cornerstone. This stone often has important dates or items inside it.
At this time, the bank also changed its name. It went from Savings Bank of Ridgewood to Ridgewood Savings Bank. The new building was designed by architects named Halsey, McCormack and Helmer, Inc.
Growing with New Branches
In 1940, Ridgewood Savings Bank opened its very first branch office. This branch was in Forest Hills, Queens. The building for this branch is located at the corner of Queens Boulevard and 108th Street.
This building is so special that in 2000, it was named a New York City Landmark. This means it's an important historical building. Later, in 2007, another bank called City and Suburban Bank joined Ridgewood Savings. This added 12 more branches to Ridgewood Savings Bank, helping it grow even bigger!
Leaders of the Bank
Over the years, many people have led Ridgewood Savings Bank. Here are some of the presidents who have guided the bank:
- Rudolph Stutzmann, from 1921 to 1946
- Herman Ringe, from 1946 to 1948
- Walter J. Hess, from 1948 to 1971
- William A. McKenna Jr., from 1992 to 2003
- William C. McGarry, from 2004 to 2012
- Peter M. Boger, from 2012 to 2018
- Leonard Stekol, from 2018 to today
