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Ridgewood Savings Bank


Overview / Commentary
www.ridgewoodbank.com
718-240-4900
7102 Forest Avenue
Ridgewood, NY 11385

The people of Ridgewood Savings Bank have been proudly serving their local communities since the bank was founded back in 1921. A lot of things have changed through the years, but one thing has remained the same: their commitment to meeting the needs of their customers and communities.

Ridgewood Savings Bank is convenient, courteous, comfortable and secure. Whatever your financial needs, you'll find the valuable products and services you want.

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Reviews (2)

Excellent Mutual Savings Bank

Posted by: |

Highest local savings rate in my zipcode for interest.
No minimum required for free checking. Part ownership as this is a mutual savings bank. Quick ach fund transfers after initial waiting period. Quick response time with customer service in email. They gave me wrong info when I asked when I will get quicker ach transfer next day funding but it eventually got activated as wording was confusing as to when it would occur. New bank President and board members were appointed as well since I have had this account. Bank is very well run and very stable. My branch is an original branch from 1940 which was landmarked and is made of stone and marble. Interest rate is on par with the best as it has no restrictions unlike other higher rate accounts.

I use another local account for electronic deposits but I ach funds into this bank. Also free teller checks as well are offered with the checking account including free notary public.

2

Excellent experience

Posted by: |

My time as an account holder at Ridgewood Savings Bank has been nothing but excellent. I have both a checking and savings account and I would not bank at any other institution going forward. Ridgewood has been specifically helpful when it has come to fraudulent charges and mistaken double charges on my card. There were several instances where a store had double charged me for the same transaction. The individuals I dealt with at Ridgewood to resolve this error were helpful, attentive, and worked quickly. There were also two instances where my debit card information had been stolen. Ridgewood was on the ball in stopping any out of control spending before it could occur by closely monitoring my account for suspicious activity. I feel safe having my money in this bank as opposed to large national chains (which I had experience with prior to banking at Ridgewood). I get personalized help from a small group of workers as opposed to a call center that is very impersonal.

1


Health
B+

Data as of Q1 2023

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #16026
Year Established1921
Employees534
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.77%
Return on Equity - YTD6.75%
Annual Interest Income$55.1MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$6.92B$6.79B
LoansQ1 2023vs Q1 2022$4.32B$3.83B
DepositsQ1 2023vs Q1 2022$5.50B$5.53B
Equity CapitalQ1 2023vs Q1 2022$794.0MM$805.0MM
Loan Loss AllowanceQ1 2023vs Q1 2022$31.0MM$27.0MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$54.2MM$76.9MM
Real Estate OwnedQ1 2023vs Q1 2022$731.00K$215.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Ridgewood Savings Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Ridgewood Savings Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.35%*-$250kSmart Move Online Savings Account
OTHER TIERS: 0.25% → $250k+
1.50%*-$25kYouth Savings Passbook Account
OTHER TIERS: 0.25% → $25k+
1.50%*-$25kYouth Savings Statement Account
OTHER TIERS: 0.25% → $25k+
0.35%--Super Saver IRA
0.25%--Business Savings Account
0.25%--Statement Savings
0.25%--Vacation Club
0.25%--Holiday Club
0.25%--Passbook Savings

Ridgewood Savings Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.65%*$10k*$250kSmart Move Money Market
OTHER TIERS: 0.25% → $250k+
2.00%*-$5mBusiness Money Market
OTHER TIERS: 0.25% → $5m+
0.35%*$25k*-PowerFlex Money Market
OTHER TIERS: 0.20% → Up to $10k | 0.25% → $10k - $25k

Ridgewood Savings Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$50k*-Premier Checking
OTHER TIERS: 0.10% → Up to $10k | 0.15% → $10k - $25k | 0.20% → $25k - $50k

Ridgewood Savings Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.15%$100$500k10 Month CD Special
5.10%$100-2 Year Treasury Indexed CD
4.75%$100-18 Month CD
4.25%$100-12 Month CD
4.25%$100-24 Month CD
3.75%$100-36 Month CD
3.75%$100-84 Month CD
3.70%$100-72 Month CD
3.65%$100-9 Month CD
3.65%$100-48 Month CD
3.65%$100-60 Month CD
3.30%$100-6 Month CD
2.50%$100-90 Day CD

Ridgewood Savings Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.75%$100-18 Month IRA
4.25%$100-12 Month IRA
4.25%$100-24 Month IRA
4.25%$100-20 Month Flex IRA CD
3.85%$100-30 Month Flex IRA CD
3.75%$100-36 Month IRA
3.75%$100-84 Month IRA
3.75%$100-40 Month Flex IRA CD
3.70%$100-72 Month IRA
3.65%$100-9 Month IRA
3.65%$100-48 Month IRA
3.65%$100-60 Month IRA
3.65%$100-50 Month Flex IRA CD
3.50%$100-10 Month Flex IRA CD
3.30%$100-6 Month IRA
2.50%$100-90 Day IRA
Locations

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