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): April 28, 2009

                           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.)       (I.R.S. 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)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[  ] Written communications  pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[  ] Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17
     CFR 240.14a-12)

[  ] Pre-commencement  communications  pursuant  to Rule  14d-2(b)  under the
     Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement  communications  pursuant  to Rule  13e-4(c)  under the
     Exchange Act (17 CFR 240.13e-4(c))

Item 8.01  Other Events

     Greene County Bancorp,  Inc. (the "Company")  previously  announced that it
had  applied to  participate  in the U.S.  Treasury  Department's  TARP  Capital
Purchase  Program  ("CPP").   On  April  30,  2009,  the  Company  withdrew  its
application  for  participation  in  the  CPP.  The  decision  to  withdraw  its
application  reflected the Company's  concerns with the potential for additional
regulatory  burdens  associated with the CPP and the  possibility  that Congress
could further change the terms of the transaction or impose  additional  burdens
at any time.

     In lieu of the CPP,  the Company has secured a revolving  line of credit in
the amount of $5.0  million  (the "Line of Credit")  from the  Atlantic  Central
Bankers Bank. The Line of Credit is secured by all of the outstanding  shares of
common stock of The Bank of Greene County, the Company's banking subsidiary (the
"Bank"). The interest rate on the Line of Credit is a floating rate equal to the
prime rate,  as reported  in the Wall  Street  Journal.  The term of the Line of
Credit is three  years.  Interest  only on draws  will be payable  monthly.  The
entire outstanding principal balance, together with accrued and unpaid interest,
will be due on the maturity date. No prepayment fee will be charged.

     Draws under the Line of Credit,  if any,  will be injected into the Bank as
Tier 1 Capital. However, the Company has not drawn on the Line of Credit and has
no immediate  plans to do so as the Bank exceeds all of its  regulatory  capital
requirements by substantial margins.

Item 9.01.  Financial Statements and Exhibits

          (a)  Not Applicable.

          (b)  Not Applicable.

          (c)  Not Applicable.

          (d)  Exhibit. None


     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:  April 30, 2009              By: /s/ Donald E. Gibson
                                       Donald E. Gibson
                                       President and Chief Executive Officer