Exhibit 24.2


                           Consent of Arthur Andersen


























                                     ARTHUR
                                    ANDERSEN

                                                     ------------------------
                                                     Arthur Andersen LLP
                                                     ------------------------
                                                     1345 Avenue of the Americas
                                                     New York, NY  10105-0032

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

As independent  public  accountants,  we hereby consent to the use of our report
dated August 12, 1998 (and to all  references  to our Firm)  included in or made
part of this  Prospectus  which is included in the Application for Conversion on
Form 86-AC,  the Notice and  Application for Conversion for Cohoes Savings Bank,
the  Registration  Statement  on Form  S-1,  and  related  Prospectus  of Cohoes
Bancorp, Inc.



New York, New York
September 11, 1998