SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

      Date of Report (Date of earliest event reported): September 15, 2003

                           GREENE COUNTY BANCORP, INC.
             (Exact name of registrant as specified in its charter)

     Federal                           0-25165                  14-1809721
- -------------------                ------------------        ------------------
(State or other jurisdiction       (Commission File No.)     (IRS Employer
of incorporation)                                            Identification No.)



302 Main Street, Catskill NY                                      12414
- -----------------------------                                 --------------
(Address of principal executive offices)                        (Zip Code)


Registrant's telephone number, including area code:  (518) 943-2600


                                 Not Applicable
          (Former name or former address, if changed since last report)







Item 5.           Other Events and Regulation FD Disclosure

     On  September  16,  2003,  Greene  County  Bancorp,  Inc.  (the  "Company")
announced that the Company's wholly owned subsidiary, The Bank of Greene County,
has filed  applications with the State of New York for permission to establish a
limited purpose commercial bank.

Item 7.  Financial Statements and Exhibits

(a) Not Applicable.

(b) Not Applicable.

(c) Exhibits

         Exhibit No.                 Description

            99                       Press release dated September 16, 2003









                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, hereunto duly authorized.

                                             GREENE COUNTY BANCORP, INC.


DATE:  September 15, 2003            By:   /s/ J. Bruce Whittaker
                                          --------------------------
                                           J. Bruce Whittaker
                                           President and Chief Executive Officer




                                  Exhibit Index

Exhibit Number             Description

99.                        Press Release dated September 16, 2003







                                   EXHIBIT 99

September 16, 2003
FOR IMMEDIATE RELEASE
Contacts:         J. Bruce Whittaker, President and Chief Executive Officer
                  Michelle Plummer, Chief Financial Officer and Treasurer
                  518.943.2600

            Greene County Bancorp, Inc. Seeks Municipal Bank Charter



Catskill  NY:  September  16,  2003-- J. Bruce  Whittaker,  President  and Chief
Executive Officer of Greene County Bancorp, Inc. (NASDAQ-GCBC),  today announced
that the Company's wholly owned subsidiary, The Bank of Greene County, has filed
applications  with the State of New York for  permission  to establish a limited
purpose commercial bank.

Under New York State municipal law, municipal sub-divisions are not permitted to
deposit  funds in  thrift  institutions  such as The Bank of Greene  County.  By
chartering a limited-purpose  commercial bank subsidiary,  the Bank will be able
to  accommodate  the  deposit  needs of the  municipalities  and school and fire
districts in its market area.

According to Mr. Whittaker,  "For many years, The Bank of Greene County has been
an active  purchaser of locally issued  municipal bonds. As of June 30, 2003, we
held in our investment  portfolio  approximately  $4.5 million in locally issued
debt  instruments  issued by  numerous  towns,  villages,  and  school  and fire
districts.  We believe  that this  additional  banking  charter will allow us to
further  serve the banking  needs of these  entities by  offering  full  deposit
services equal to our commercial bank competitors." Municipal customers would be
served at the Bank's  existing retail branch  locations in Catskill,  Coxsackie,
Cairo, Greenville, Tannersville and Westerlo.

According  to  Mr.  Whittaker,   subject  to  regulatory  approvals,   the  Bank
anticipates the new commercial  bank will begin  operations in the first quarter
of 2004.


                                      (END)