Exhibit 99.5 CONSENT TO BE IDENTIFIED AS A PROPOSED DIRECTOR I, Joseph H. Giaquinto, President of SFS Bancorp, Inc. and Schenectady Federal Savings Bank, a Federal Savings Bank, hereby consents to being identified as a proposed director of Cohoes Bancorp, Inc. (the "Company") and Cohoes Savings Bank in the Company's prospectus to be included in a registration statement on Form S-1 and on Application for Conversion on Form 86-AC. By: /s/ Joseph H. Giaquinto ----------------------- Joseph H. Giaquinto Dated: September 16, 1998