There was a ribbon-cutting for the Ridgewood Savings Bank’s new branch at the corner of Downing Pl. and Fulton Street this past Tuesday. Leonard Stekol, President and Chief Operating Officer, spoke of how in researching possible branch locations they found that Clinton Hill, with its history and workforce, was an ideal place to set down branch roots.
Peter Boger, Chairman and CEO said, “We believe we have the products and services that will be a perfect fit for this area”. So, “stop in and feel free to open an account in as large an amount as you want”.
Maria Vullo, Superintendent of the NYS Department of Financial Services, said that the branch opening is the product of the Banking Development District (BDD) program, which her agency approves, and is designed to encourage banks to open branches in underserved communities.
“I’m a native Brooklynite from Dyker Heights,” said Ms. Vullo, and “Brooklyn represents the diversity of our country, our world and our city. And the local communities of Brooklyn serve as a melting post for communities from around the world”. She noted also that, “Sometimes as communities prosper, there are people left behind and we don’t want that. The role of government is to create a level playing field to ensure that diversity continues in our neighborhoods throughout the state”, and that’s what the BDD program is all about.
Anthonie Marshall, branch manager, thanked Phillip Kellogg of the Fulton Area Business Alliance for introducing the branch to local businesses and said, “I wouldn’t be doing my job if I don’t say that we have some very attractive CD saving products and checking products as well”.
Lori Lewis, head of Strategic Alliances and Marketing for BP Eric Adams, read a proclamation congratulating Ridgewood Savings Bank “for opening a newly designed, technologically advanced, full-services banking branch in Brooklyn”.
Chairman Boger said that the intimately sized bank and “great staff” have been doing well during the two-month “soft-opening” before the official ribbon-cutting.