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We have been devoted to the public welfare of the Hudson Valley since February 1st, 1871, when twenty-one citizens of Saugerties petitioned New York State for a charter as the Board of Trustees of Saugerties Savings Bank. The name changed to Sawyer Savings Bank in 1973 — weathering all business cycles and growing ever since. The bank doesn`t have stockholders. All its assets are held in a trust exclusively for the benefit of its depositors — you. We invest those deposits in the community: building homes, creating jobs, aiding capital expansion and helping the area and its people to grow and prosper.
The Federal Reserve Bank of New York works within the Federal Reserve System and with other public and private sector institutions to foster the safety, soundness and vitality of our economic and financial systems. Some of its most critical functions include the implementation of monetary policy, supervision and regulation of depository institutions, international operations and financial services. The New York Fed oversees the Second Federal Reserve District, which includes New York State, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the U.S. Virgin Islands. Though we serve the public interest in a geographically small area, the New York Fed is the largest Reserve Bank in terms of assets and volume of activity. We accomplish this with talented and innovative people working within a collaborative and inclusive culture.
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