A recent ribbon-cutting ceremony in New Rochelle attended by numerous officials, local business and community leaders was a tribute to Leonard Stekol, chairman, president and CEO of Ridgewood Savings Bank (Ridgewood) for his efforts in relocating the bank’s New Rochelle branch to a new, state-of-the-art facility spanning nearly 2,000 square feet at 25 Maple Ave., situated conveniently within the city’s bustling central business district. The branch’s innovative design embodies the bank’s commitment to providing comprehensive financial products and services for the community and fostering the growth of small businesses.
“Ridgewood Savings Bank, as a committed community partner, recognizes and supports New Rochelle’s strategic vision for growth. Having served in the New Rochelle community since 2007, we are dedicated to contributing to the city’s development and the prosperity of its residents and businesses,” said Stekol. “New Rochelle is one of Westchester’s most vibrant cities, and we are thrilled to help its residents realize their dreams through our best-in-banking and new state-of-the-art location.”
Deputy Westchester County Executive Ken Jenkins said: “We are pleased that Ridgewood Savings Bank is continuing to provide service to the residents of New Rochelle, just as it has for the past 17 years. …We look forward to maintaining this partnership and seeing this business continue to grow and thrive at its new site.”
“We are thrilled to celebrate the opening of the Ridgewood Savings Bank in New Rochelle,” said Senator Nathalia Fernandez. “This new branch will be a resource for growth and economic opportunity for our residents and is a welcome addition to our community.”
Assemblyman Steve Otis said, “Congratulations to Ridgewood Savings Bank for their commitment to New Rochelle and to consumers. With so many banks reducing the number of community branches, Ridgewood Savings Bank is reaffirming their commitment to customers and to our community.”
“I’m so glad to see Ridgewood Savings Bank’s new, state-of-the-art space in New Rochelle become a reality,” said New Rochelle Mayor Yadira Ramos-Herbert. “Their expansion and relocation to one of our signature mixed-use developments in the downtown continues their commitment to neighborhood clients while bringing world-class services and enhancing the vibrancy of our central business district.”
Catherine White, Executive Director, New Rochelle Chamber of Commerce, said “The New Rochelle Chamber of Commerce congratulates our member Ridgewood Savings Bank on their new cutting-edge facility. Their expanded location at 25 Maple Ave. puts them in the heart of our Downtown and will provide greater banking access for our businesses and residents.”
Founded in 1921, Ridgewood Savings Bank continues to serve the community as a strong and stable mutual savings bank with $7 billion in assets and 36 branches located throughout the New York metropolitan area. It has been ranked as a ‘Best Bank’ by Money (2023, 2024), a ‘Top Regional Bank’ by Bankrate (2022, 2023), a “Best Regional Bank” by Newsweek (2024) and received an ‘Honorable Mention’ designation by the American Banking Association Foundation Community Commitment Awards in recognition of its work protecting older Americans (2023).
