Earlier this month, Leonard Stekol — chairman, president and CEO of Ridgewood Savings Bank — announced the relocation of Ridgewood’s White Plains Road branch to a new state-of-the-art space at 3951 White Plains Road, just four short blocks away from its former site. With the new location arrives the recently launched Ridgewood BankOn Checking and SBA 7(a) loan program, furthering the availability of financial products for the community and small businesses.
“Our roots have always been firmly planted in the local communities to help our customers grow and prosper,” said Stekol. “With the relocation of the White Plains Road branch to a brand new site and the launch of products to help the community have continued opportunity at a stronger financial future, Ridgewood continues to help ensure hopes and dreams can be realized.”
Recognized in 2022 by Forbes as a “Best-in-State Bank” and by Bankrate as a “Top Regional Bank,” Ridgewood’s recently launched community focused products include:
- Ridgewood BankOn Checking, a low fee and affordable checking account with no overdraft fees, to help ensure consumers have access to a secure bank account. Led by Cities for Financial Empowerment Fund (CFE), a national nonprofit organization, BankOn works to ensure that consumers have access to a safe, affordable transactional banking account, particularly those in the community who are underbanked, to bring them into the financial mainstream. In order to be approved as a BankOn provider, CFE certified that Ridgewood Savings Bank was able to provide the appropriate and safe accounts to customers in need.
- Small business owners are going to be better supported with Ridgewood’s SBA 7 (a) loan program, aimed to help small businesses get the capital needed to grow and succeed. Whether investment is meant for purchasing property, working capital, renovating space, buying equipment or debt refinancing, the loan program can support an array of goals to generate growth. The SBA-backed loan offers more flexibility for eligible borrowers, including lower down payments and longer terms.
“From our founding more than a century ago to becoming New York’s largest mutual savings bank today, it has always been our promise to lend a strong hand to those who make life better for their community,” said Stekol. “We remain committed to our promise and invite the public to learn more about our many banking products, digital tools, award-winning service, and how we ‘Multiply the Good’ every day. I also encourage everyone to stop by our new branch between Dec. 27 and Jan. 31 to participate in our sweepstakes to help celebrate our move.”
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