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Banking Exec Ensures Customer Service in Eastchester

President and Chief Executive Officer of Community Mutual Savings Bank, John Ritacco, understands that when it comes to managing their hard-earned money, customers want a financially strong bank that offers personalized service uncommon to many of its larger counterparts.

That’s why as head of this 124-year-old community bank, Ritacco will personally answer his own phone to speak with customers. Ritacco also believes in having the bank give back to the community through donations and volunteering time to organizations like the American Diabetes Association and the Northern Westchester Hospital Foundation.

“We’re as local as it gets. We want customers to know they can reach someone in authority [rather than a 1-800 number] and can talk to someone who can quickly resolve their issues,” he said.

“We offer the kind of personal and responsive service that only a community bank can provide. That’s because all our decisions are made locally by employees who live and work in the community.”

When Ritacco came aboard Community Mutual Savings Bank in 2005, his first order of business was simple: bring the bank into the 21st century. He immediately set off to renovate the five retail branch offices, located in Mt. Vernon, Mt. Kisco, Greenburgh, Eastchester and West Harrison, with updated décor and more convenient parking to ensure customer convenience and satisfaction. He then raised the bar by offering modern products, online services and took the company public in 2007.

Since its conversion from a mutual savings bank to stock company under the holding company name, CMS Bancorp, Inc., Community Mutual Savings Bank’s assets have more than doubled to around $247 million. Expanding capital does not have to equal a drop in personalized care though, said Ritacco. “Unless someone feels special banking with us, why would they come? They could get impersonal service anywhere,” he added.

On his own time, Ritacco, a resident of Waccabuc, has made it his mission to give back to his community on the Board of the Westchester County Association, participating in the annual charity walk by March of Dimes and with projects for Habitat for Humanity.

“We don’t just give with our dollars, we also give of our personal time to our communities,” Ritacco added.

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