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