Ridgewood Savings celebrates 90 years

Few institutions can say they have survived for 90 years, persevering through the Great Depression, World War II, the turbulent 1970s and the 1987 stock market crash. This is a distinction the Ridgewood Savings Bank has now earned.
Ridgewood Savings, which is the largest mutual savings bank in New York State with $4.6 billion dollars in assets, celebrated its 90th anniversary on June 28 at its main office at 71-02 Forest Avenue.
“We have long believed our ability to sustain and grow our bank over 90 years – through so many economic changes – is attributed to our unwavering focus on customers, local communities and employees,” said William C. McGarry, the chair and chief executive officer of Ridgewood Savings Bank. “While so much has changed since we first opened, our commitment to our customers has remained steadfast, and they have always been extremely loyal in return.”
A proclamation from the Office of Queens Borough President Helen Marshall honored the milestone by renaming June 28 Ridgewood Savings Bank Day in Queens. A citation was also presented to the bank by Lydon Sleeper, the chief of staff of City Councilmember Elizabeth Crowley.
Ridgewood Savings, which currently has 35 branches spread across the five boroughs, Long Island and Westchester County, was founded in 1921 by 14 local businessmen. The bank’s main office, which has been enlarged and expanded over the years, rests on the same site where its headquarters were located in 1929.
“We are proud to carry on a 90-year tradition of providing strength, stability and service to the community,” said Walter Reese, the senior vice president of retail banking for Ridgewood Savings Bank. “We demonstrate this commitment through one-on-one banking relationships, as well as dedicated involvement in charitable organizations and civic endeavors.”
To commemorate their achievement, all bank branches offered 90th anniversary celebration cakes to customers and employees.