Ridgewood Savings Bank held a ribbon-cutting ceremony on Sept. 14 to mark the opening of its newest branch in the Norwood section of the Bronx, at 320 East 204^th Street. It replaces the former Norwood branch located at 3445 Jerome Avenue.

 

On May 24, a representative from Ridgewood told the Norwood News, “We are moving the Jerome Avenue branch because it is largely outdated and inefficient in terms of its size.” The representative added, “We are moving to a more modern facility [..] to better serve our customers and the needs of our community.”

 

The opening ceremony was attended by various bank officials, local community leaders elected officials or their representatives and the new branch has indeed a clean and modern look. Associate desks line a wall of windows and there is also a new service counter where customers can speak with tellers. Annie Fuentes, a customer service associate with Ridgewood, said she thinks the new branch is “beautiful” and “modern.”

 

Ridgewood’s chief banking officer, Carlos Sanchez, kicked off the ceremony, saying Ridgewood had been part of the Bronx for a long time, and with the opening of the new branch, he hoped to continue that tradition. Indeed, 2021 also happens to mark the 100-year anniversary of the banking franchise.

 

Leonard Stekol, chairman, president and CEO of Ridgewood, said it was an honor and privilege to work with his colleagues every day, and acknowledged their hard work in getting the new branch opened. “With the opening of this new branch, Ridgewood Savings Bank continues to make it possible for hopes and dreams to be realized, and where customers can rely on us for their banking needs, and the many, modern digital services we offer to make their lives easier,” Stekol said.

 

Mercedes Castro is assistant vice president and branch manager of the new Norwood branch and told Norwood News she’s been able to walk around the neighborhood and introduce herself to other businesspeople in the area. She used the branch opening as an opportunity to formally welcome those present, in both English and in Spanish.

 

“I want to welcome you and your friends, your family, neighbors and business associates,” she said. “Our team really looks forward to working with all of you and being a big part of this community and getting to know you better, so thank you all for being here today,” she added.

Referring to the new location, Castro continued, “It’s beautiful, as you can see, it’s state of the art.” She said the grand opening had gone very well and she and her colleagues were very happy about that. “We’ve had a very good reception from the neighborhood and the people in the area, so we’re very grateful for that,” she said.

 

The branch manager explained that she’s worked for other banks in the past, but said Ridgewood has been a unique and exciting opportunity for her. “I mean, this is a company that really, really cares for the employees,” she said. “Most of them have been here fifteen, twenty years, so that says a lot, especially these days. Other banks don’t really care about their personnel. I couldn’t be happier,” she said.

 

Meanwhile, Assembly Member Natalia Fernández (A.D. 80) said she was excited to have Ridgewood in the community. “This is a beautiful welcoming that we have a community bank, one that has a history in helping communities advance and prosper and grow, and that’s what we need,” she said. “The more banks we have in our community, the more successful our people will be.”

 

Representatives from the office of State Sen. Jamaal Bailey and from the office of Congressman Adriano Espaillat were also in attendance, both mentioning how good it was for the community to have a bank like Ridgewood in the area.

 

Bronx Community Board 7 district manager, Ischia Bravo, concurred, and talked about the financial hardship many people in the community have faced since the start of the pandemic, and how it was more important than ever to have what she called a trustworthy party like Ridgewood available to help the community recover.

 

“I stand content to know we will be working together to help revitalize our commercial corridor and improve banking access to a disenfranchised district,” Bravo said. “Today, I celebrate you [Ridgewood], but I also hold you accountable, to make sure that your overall mission continues to lend a helping hand now, more than ever, in our district.”

President of the Bronx Chamber of Commerce, Lisa Sorin, said she was happy to learn of the bank’s history supporting neighborhoods similar to Norwood. She congratulated Ridgewood on its opening and expressed her support for what it would do in the community.

 

The importance of maintaining a solid network of bank branches open in the Northwest Bronx has long been highlighted by the local community and has not been without its challenges.

 

Norwood News previously reported on a break-in and burglary in November 2020 of a Bank of America ATM, located at 3424 Jerome Avenue in Norwood. In addition to the ATM room, a Bank of America bank branch had previously existed at the location but had closed a few years prior to the robbery.

 

In September 2020, we also reported on a rally that was held at 94 E. Burnside Avenue in Mount Hope, part of efforts to keep open the Amalgamated Bank branch at the location. More recently, as reported, Ridgewood announced on Sept. 1 that its branch, located at 3899 Sedgwick Avenue in Van Cortlandt Village, will finally remain open. In May, the bank announced the branch was expected to close.

 

According to Ridgewood’s website, the banking franchise was founded with the ideal of getting involved with the surrounding community. During the Great Depression, the bank’s original branch held on to support its patrons through that tough time. Since then, the bank has opened 35 other branches throughout New York.

 

According to Ridgewood officials, the bank offers all of Ridgewood’s banking services, products, and community-based programming. “Our customers will continue to receive the same exceptional service and financial solutions that they have become accustomed to, and we will be adding a coin-counting machine for their convenience,” a bank representative said.