Chairman, President & CEO, Ridgewood Savings Bank

What one factor is most important to success?

Certainly there are educational requirements, but it’s consistency, and the ability to keep on task even when you face setbacks.

What do you look for in an employee?

I think, certainly, that having a regular savings plan can help create the financial responsibility needed for constant growth. Regular savings is something the founders of our bank believed in, and I believe in it, too. As your compound grows, it enables you to have a good life.

What’s the best way to save money?

People have to have discipline in order to put money away and save. Never let yourself be over leveraged, as happens with young people, and I think some financial institutions actually encourage it. I think discipline is required, not only on the asset side but on the liability side, and that can have a tremendous effect on what you can save.

What’s the best way to spend money?

People have to have discipline in order to put money away and save. Never let yourself be over leveraged, as happens with young people, and I think some financial institutions actually encourage it. I think discipline is required, not only on the asset side but on the liability side, and that can have a tremendous effect on what you can save.

What’s your greatest pleasure?

Certainly family. Fulfilling personal goals and ambitions, too, but keeping the balance between work and family, and a successful career. I have such gratitude for the people I serve here at Ridgewood, but obviously that needs to be balanced with home life, family and children. Seeing them succeed and hopefully giving them an example that serves them well in their life.

What’s the first thing you do when you wake up in the morning?

Well, sometimes I don’t sleep at night, planning the day ahead.

How do you deal with stress?

I think it’s just to take things in stride. I guess it’s something you develop over time. You cope with the issues with a positive attitude, so when there are some difficulties in work or life you actually cope with them much better, flow with the tide. A positive attitude definitely prevents stress.

What one lesson do you hope to pass on to your children?

Call me old fashioned, but I think to be true to their faith, be true to their integrity and family name and reputation, and to treat people the way they would like to be treated—fairly and equitably. Respect their opinions as they respect their own.

How do you bounce back from adversity?

By maintaining a positive attitude. Persistence. Patience and persistence. Just keep doing it.

What’s your favorite thing about Queens?

I think the diversity of Queens is something that probably doesn’t exist in many parts of the country. It’s so rich in diversity. I lived in Woodhaven for 17 years after I got married, and it’s just a very cosmopolitan oasis within the city, it’s just so vibrant and alive.

A 30-year veteran of the banking industry, McGarry has served in an executive fashion at Ridgewood Savings Bank since 2001. The bank, chartered in 1921, has more than $3.3 billion dollars in assets and serves about 200,000 depositors in Brooklyn, Queens, Nassau and Suffolk Counties.