Ulster Savings Bank

Ulster Savings Bank
Mutual savings bank
Industry Financial services
Founded 1851, as Ulster County Savings Institution
Headquarters Kingston, New York, United States
Key people

Ann Marrott, Board of Trustees Chairperson[1]

Glenn B Sutherland, Interim President & CEO[1]
Products Savings; checking; consumer loans; mortgages; online banking
Total assets $700 million+
Number of employees
 300
Website ulstersavings.com

Ulster Savings Bank is a state-chartered mutual savings bank headquartered in Kingston, New York, with 14 branches[1] located in the Hudson Valley counties of Ulster, Dutchess, and Greene. The bank provides savings and checking accounts, home and car loans, as well as Visa debit and gift cards, and is supervised by the New York State Department of Financial Services.[2]

History

Alton B. Parker, president of the bank from 1896 to 1904;[3] Democratic nominee for President of the United States in 1904.

The Ulster County Savings Institution was chartered by the New York State legislature on April 12, 1851, with the first meeting of the incorporators occurring on May 1.[3]

After 40 years in business, the bank faced a crisis in 1891 when its treasurer and assistant treasurer were accused of stealing more than $400,000, resulting in a temporary closure.[4] Both received prison sentences as a result of their actions, and the bank reopened.[5]

In September 2011, Lisa Marie Cathie was named the new President & CEO of the bank, succeeding Marjorie Rovereto.[1] In 2015, Glenn B. Sutherland replaced Lisa M. Cathie as new Interim President and CEO of Ulster Savings Bank.

Branches

The oldest Ulster Savings branch, located in the Kingston Stockade District.

Branches are currently located in Gardiner, Kingston, New Paltz, Phoenicia, Poughkeepsie, Red Hook, Saugerties, Stone Ridge, Wappingers Falls, Windham, and Woodstock.[6] Additionally, a new branch is planned for Newburgh.[7]

References

  1. 1 2 3 4 "Ulster Savings Bank taps new president/CEO". Daily Freeman. Journal Register Company. September 28, 2011. Retrieved January 1, 2012.
  2. ↑ "NYSBD: Savings Banks". Retrieved January 1, 2012.
  3. 1 2 Manning, James Hilton (1917). Century of American Savings Banks, p. 102.
  4. ↑ "Wrecked by Its Officers". The New York Times. The New York Times Company. October 3, 1891. Retrieved January 1, 2012.
  5. ↑ "Ostrander Convicted". The New York Times. The New York Times Company. December 1, 1892. Retrieved January 1, 2012.
  6. ↑ "Hours and Locations". Retrieved January 1, 2012.
  7. ↑ "Ulster Savings Bank to open branch in Newburgh". Times Herald-Record. Dow Jones Local Media Group. July 25, 2013. Retrieved August 8, 2013.


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