Ridgewood Savings Bank Partners with NY Islanders

In keeping with its motto to “Multiply the Good,” Ridgewood Savings Bank presented $24,000 to two local charities – Mercy Haven, a nonprofit housing and supportive services organization, and New York Crusaders, a nonprofit sports organization – as part of the bank’s partnership with the New York Islanders.

Bank officials presented the checks on Friday, April 12 at its Franklin Square Branch.

In teaming up with Long Island’s professional hockey team (currently in the playoffs), Ridgewood pledged to donate $10 for every save the Islanders made during the season, which came to 2,344 saves and nearly $24,000, that is being split between the two local charities.

“Ridgewood has a long history of giving back to the communities we serve,” says Leonard Stekol, Ridgewood Savings Bank President, CEO, and Chairman. “It is a thrill for us to once again join the iconic New York Islanders to support two organizations that make a real difference in the community.”

Mercy Haven provides temporary and permanent housing — and critical support services — to Long Islanders in need such as the homeless and those requiring mental health services. The New York Crusaders are a sports based non-profit organization focusing on economic, social, and general health for young adults in New York City. It provides general fitness services for all ages, and gives eligible males the chance to play organized tackle football in a constructive environment. Ridgewood’s partnership with the New York Islanders goes back several years and is part of the bank’s community-based commitment.

The bank also encourages its employees to dedicate their time to local not-for-profits, food kitchens and community organizations. In 2018, for example, bank employees dedicated 2,788 hours in volunteer services and contributed $57,000 in charitable donations to local community organizations. The bank also matched $84,000 in employee-contributions. Stekol expects the bank will match or exceed its impressive figures this year as well.

Stekol also pointed out that the bank dedicated $140,600 in community reinvestment in low-and-moderate income neighborhoods; $75,000 in community outreach; and provided valuable financial literacy information to 16,000 students and 1,500 senior citizens through its financial literacy program.

“As a community bank, we strive to be a vital community asset for all we serve,” Stekol stated. “I couldn’t be more proud of the work we do day-in-and-day out.”

Other Community Outreach Activity

Earlier this year, the bank announced its free tax preparation services in conjunction with Ariva, a not-for-profit that offers financial counseling and services to low-income New Yorkers, at area branches in the Bronx to provide people with high quality professional tax preparation services safely, conveniently and quickly. (Ariva’s free income tax preparation program is an IRS-certified and supervised program.)

Ridgewood is also in the midst of adding a community room available to non-profits, civic groups, and charitable organizations at its Glendale branch at no cost to these organizations.

When coupled with the nearly 3,000 hours that employees volunteer at local community and charitable organization, Stekol said it shows that Ridgewood Savings Bank strives to be a “community bank with a real stake in the community.” It is especially fitting to issue this announcement during the month of April as it is National Volunteer Month.

About Ridgewood Savings Bank

Founded in 1921, Ridgewood Savings Bank is the largest mutual savings bank in New York State, with over $5.5 billion in assets. With 35 branches in the New York area, Ridgewood Savings Bank continues to serve its community as it did in 1921, with their continued focus always on their customers. Ridgewood Savings Bank offers “Traditional Values with Modern Solutions.”