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Celebrating 150 Years 1868-2018

Rondout Savings Bank Celebrates 150 Years of Service

January 19, 2018


Rondout Savings Bank 150 Years Group Photo

January 2018, Rondout Savings Bank is celebrating its 150th year as one of the area’s most successful long-standing, independent banks. The theme for this notable achievement is Then, Today, Tomorrow, it will always be about you.

“We are very proud to announce our 150th anniversary to the community. We want to give a big thank you to all that have supported the bank. Our growth and longevity is founded on the valued relationship we have with our clients, nothing is more important to us”, said Cheryl Bowers, President and CEO of Rondout Savings Bank.

The bank was founded in 1868 by Thomas Cornell, a prominent businessman whose vision was to create a bank for the local working people of Kingston. Shortly after the civil war, returning veterans and laborers of the bustling Rondout waterfront in Kingston turned to Rondout Savings Bank to help them save their hard earned wages to secure their financial future. “It was a bank for the people and remains so today,” says Bowers.

Rondout Savings Bank has deep community roots. From its beginning, the bank’s executive team, trustees and staff have always lived, worked and volunteered locally, giving the bank a position of value and respect. Banking decisions are made locally by those that have a deep understanding of the people and communities they serve. “It’s about understanding more than just numbers when working with people”, explained Marjorie S. Rovereto EVP, Chief Lending Officer at Rondout Savings Bank. “We look back with pride at the banks enduring foundation of community service while it looks forward to continuing to help bolster the local economy.”

Coupling long held values of community service with modern vision, this year Rondout Savings Bank promoted its first woman President and CEO, Cheryl Bowers. Bowers is one of the area’s most valued banking executives. Her impressive financial services background is comprised of nearly 30 years of banking experience including over 20 years holding leadership positions.

“We couldn’t be more proud to announce our 150th anniversary; our team of banking experts is in a unique position to reflect on the importance of having such strong roots in the communities we serve. This intimate knowledge will define our future as a bank that prioritizes people first, while contributing to the region’s economic stability and growth”, emphasized Bowers.

Banking with Rondout Savings Bank is not only a personal choice, it’s a direct investment back into the local community. Maintaining their foothold as the leading community bank in the area, 10% of the bank’s earnings are given back to the people and businesses of the Hudson Valley in the form of donations to local non-profit organizations. In celebration of a century and a half of philanthropy and service, Rondout Savings Bank kicks off their 150th year celebration with a Calendar of Giving.

Rondout Savings Bank has already begun to highlight their 150 Ways of Giving fostering community engagement and giving financial support to local organizations. A different organization will be featured each month, keeping the spirit of fueling philanthropy alive all year long. This momentous year will include many events recognizing and thanking the community.

A special event celebrating the bank’s actual May anniversary will be held near Memorial Day with a nod to their inspiration from the start – helping Civil War veterans and workers in 1868. More details on the event will be released closer to the date.

While financial growth and technological advances have many banks moving farther away from personalized service, Rondout Savings Bank is firmly rooted in its connection to the people it serves. Modern conveniences like mobile apps and online banking are available, but customers can still visit one of five brick and mortar locations and actually talk to the president and senior staff.

With its success based on this unique blend of personal service, innovative technology and over $356 million in assets, Rondout Savings Bank has earned a five-star rating and spot in the top 4% of national banks by BauerFinancial Inc. an independent bank rating firm.

Rondout Savings Bank is thrilled to reach this milestone, and they look forward to serving the Hudson Valley well into the next century and beyond. Small enough to see the needs of their community but big enough to deliver results, Rondout Savings Bank will always be about the people, then, today, and tomorrow.