About us

Walden Savings Bank, established in 1872, is the 11th oldest federally chartered mutual savings bank headquartered in Montgomery, New York. With a total of 11 full-service branches serving the Hudson Valley region, and a lending office located in Beacon, New York, the Bank’s progressive style of community banking provides products that cater to both the individual and the growing mid-size business. In addition, Walden Investment Services, located at Walden Savings Bank, offers personalized advice for financial planning.


President's Message

It is so good to hear the birds chirping and see the Hudson Valley landscape so picturesque again.  The spring and summer seasons are a great reflection of new growth and I am happy to note that Walden Savings Bank is also growing!

We enjoyed a successful Grand Opening celebration of our new lending office located at 554 Main Street in downtown Beacon on May 4, and are excited to expand into the Dutchess County market.  Our team of dedicated lending professionals are available for all of your residential and commercial needs throughout the Hudson Valley.

We have recently transitioned to a new online banking platform to allow our customers one seamless platform across all phones, tablets and computers.  The conversion was not without difficulty for some of our customers, and for this, we sincerely apologize.  We trust that the issues have been resolved and invite you to speak to our Contact Center and 24/7 support staff at 845.457.7700, Option 1, if you have any remaining concerns.

I am also pleased to hear many compliments from our customers in regards to the enhanced features of this recent upgrade, which include:

With these enhancements, Walden Savings Bank has positioned itself to be more competitive, and our customers are happy to have advanced banking technology. 

Thank you for allowing us to serve you, and in turn, support "Our Community".



Derrik R. Wynkoop

President & C.E.O.



Board of Directors


Jeffrey D. CristChairman of the Board
Ira. D. Conklin, III
Stephen E. Burger
Dr. Peter V. Masci
Gill Mackay
Edward F.X. Gallagher, Jr.
Norman "Marti" Sassi, CPA
Derrik R. Wynkoop


Marcus H. Millspaugh, Jr.
Jeffrey A. Sohns
Richard L. Jansen

L to R: Gill Mackay; Norman M. Sassi, CPA; Stephen E. Burger; Jeffrey D. Crist - Chairman of the Board; Derrik R. Wynkoop, Edward F.X. Gallagher, Jr.; Dr. Peter V. Masci; Ira D. Conklin, III


Derrik R. Wynkoop President & CEO
Catherine Terwilliger Executive Vice President & COO
Daniel P. Downing Senior Vice President, Retail Lending
Brian Ratynski Senior Vice President, Commercial Lending
John Scognamiglio Vice President & CFO
John M. Carola Vice President, Retail Delivery & Marketing
Joann Menendez Vice President, Corporate Secretary
Pamela Spieler Vice President, Human Resources
Lisa Gariolo Vice President, BSA Officer
Gail G. Swalm Vice President, BSA Specialist
Cindy L. Voss Vice President, Information Technology
Greg L. Roe Vice President, Commercial Lending
Michael Snyder Vice President, Controller
William F. Vacca Vice President, Business Development
Mary Samuels Vice President, Commercial Lending
David Garlinghouse Vice President, Commercial Lending
Gloria Kozlowski Vice President, Retail Lending
Michael Weimer Assistant Vice President, Commercial Lending
Timothy T. Hoppe Assistant Vice President, Data Operations
Lillian Carbonara Assistant  Vice President, Area Retail Manager
Garry Michel, CFP® Assistant Vice President, Financial Advisor
Amy Minutolo Assistant Vice President, Area Retail Manager
Karin Winum Assistant Vice President, Human Resources

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