Exhibit 99.1
                                  ------------
July 23, 2009
FOR IMMEDIATE RELEASE
Contact:  Donald E. Gibson, President & CEO
518.943.2600

                           GREENE COUNTY BANCORP, INC.
                             ANNOUNCES CASH DIVIDEND

Catskill,  NY - July 23, 2009. Greene County Bancorp,  Inc.  (NASDAQ-GCBC) today
announced  that its Board of  Directors  has approved  the  continuation  of the
Company's  quarterly  cash dividend of $0.17 per share of the  Company's  common
stock. The dividend reflects an annual cash dividend rate of $0.68 per share.

The  dividend  will be paid to  shareholders  of record as of August  14,  2009,
payable on September 2, 2009.

The Company is the  majority-owned  subsidiary of Greene County Bancorp,  MHC, a
federal  mutual  holding  company,  which  owns 56.2  percent  of the  Company's
outstanding  shares.  Greene  County  Bancorp,  MHC  waived its right to receive
dividends on its shares of the Company.

Greene  County  Bancorp,  Inc.  is the  direct  and  indirect  holding  company,
respectively,  for The Bank of Greene County, a federally-chartered  thrift, and
Greene  County  Commercial  Bank, a New  York-chartered  commercial  bank,  both
headquartered  in  Catskill,  New York.  The Bank  serves  Greene  and  Columbia
Counties,  and Albany County, New York from eleven full-service branch locations
in Catskill, Catskill Commons, Cairo, Chatham, Coxsackie, Greenville, Greenport,
Hudson, Ravena, Tannersville and Westerlo.

                                      (END)