AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 31, 1997

                                                       REGISTRATION NO. ________

================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                ---------------

                                    FORM S-8
                          REGISTRATION STATEMENT UNDER
                           THE SECURITIES ACT OF 1933

                                ---------------

                        STEWARDSHIP FINANCIAL CORPORATION
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                   NEW JERSEY
         --------------------------------------------------------------
         (State or other jurisdiction of incorporation or organization)

                                   22-3351447
                      ------------------------------------
                      (I.R.S. Employer Identification No.)

630 GODWIN AVENUE, MIDLAND PARK, NEW JERSEY                    07432
-------------------------------------------                  ----------
 (Address of principal executive offices)                    (Zip code)

                             1995 STOCK OPTION PLAN
                1995 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS
                        1995 EMPLOYEE STOCK PURCHASE PLAN
                                STOCK BONUS PLAN
                        --------------------------------
                            (Full title of the plan)

                              PAUL VAN OSTENBRIDGE
                      PRESIDENT AND CHIEF EXECUTIVE OFFICER
                                630 GODWIN AVENUE
                             MIDLAND PARK, NJ 07432
                     ---------------------------------------
                     (Name and address of agent for service)

                                 (201) 444-7100
          ------------------------------------------------------------
          (Telephone number, including area code, of agent for service)

                         CALCULATION OF REGISTRATION FEE
--------------------------------------------------------------------------------
                                      Proposed        Proposed
                                      maximum          maximum
Title                  Amount         offering        aggregate       Amount of
of securities           to be        price per         offering     registration
to be registered     registered      share (2)          price(2)         fee
--------------------------------------------------------------------------------
Common Stock,        
  par value          80,000(1)        $22.60         $1,808,000         $548
--------------------------------------------------------------------------------

     (1) Maximum number of shares authorized for issuance pursuant to (a) the
exercise of options under Registrant's 1995 Stock Option Plan and 1995 Stock
Option Plan for Nonemployee Directors; (b) stock purchases under the
Registrant's 1995 Employee Stock Purchase Plan and (c) stock bonuses under the
Registrant's Stock Bonus Plan. This Registration Statement also relates to such
indeterminate number of additional shares of Common Stock of the Registrant as
may be issuable as a result of stock splits, stock dividends or similar
transactions, as described in such Plans.

     (2) Estimated solely for the purpose of calculating the registration fee
and based upon the book value of the Registrant's stock as of December 31, 1996,
in accordance with Rule 457(h)(1).

================================================================================

                                     Page 1
                             Exhibit Index at Page 8


<PAGE>



                                     PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.

     The following documents are hereby incorporated by reference in this
Registration Statement:

     (a)  the audited financial statements of Atlantic Stewardship Bank as of
          and for the years ended December 31, 1994 and 1995 and as of and for
          the nine month periods ended September 30, 1995 and 1996, included as
          exhibits to the Registrant's Registration Statement on Form 8-B, as
          filed with the Securities and Exchange Commission on December 10,
          1996; and

     (c)  the description of the Registrant's Common Stock, no par value per
          share, contained in the Registrant's Registration Statement on Form
          8-B, as filed with the Securities and Exchange Commission on December
          10, 1996.

     In addition, all documents subsequently filed by the Registrant pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934,
prior to the filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference in this
Registration Statement and to be part hereof from the respective dates of filing
of such documents.

     Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is
incorporated or is deemed to be incorporated by reference herein modified or
superseded such statement. Any such statement so modified or superseded shall
not be deemed, except as so modified or superseded, to constitute a part of this
Registration Statement.

ITEM 4. DESCRIPTION OF SECURITIES.

     Not Applicable

ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.

     Not applicable.

                                     Page 2


<PAGE>



ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.

     Article VII of the Registrant's Certificate of Incorporation requires the
Registrant to indemnify its officers, directors, employees and agents and former
officers, directors, employees and agents, and any other persons serving at the
request of the Registrant as an officer, director, employee or agent of another
corporation, association, partnership, joint venture, trust, or other
enterprise, against expenses (including attorneys' fees, judgments, fines and
amounts paid in settlement) incurred in connection with any pending or
threatened action, suit, or proceeding, whether civil, criminal, administrative
or investigative, with respect to which such officer, director, employee, agent
or other person is a party, or is threatened to be made a party, to the full
extent permitted by the New Jersey Business Corporation Act (the "Act").

     The Registrant's Certificate of Incorporation also provides that the
Registrant may purchase and maintain insurance on behalf of any person or
persons enumerated in Article VII thereof against any liability asserted against
or incurred by such person or persons arising out of their status as corporate
directors, officers, employees, or agents whether or not the Registrant would
have the power to indemnify them against such liability under the provisions of
this article.

     Section 14A:3-5 of the Act gives a corporation the power, without a
specific authorization in its certificate of incorporation or by-laws, to
indemnify a director, officer, employee or agent (a "corporate agent") against
expenses and liabilities incurred in connection with certain proceedings,
involving the corporate agent by reason of his being or having been such a
corporate agent, provided that with regard to a proceeding other than one by or
in the right of the corporation, the corporate agent must have acted in good
faith and in the manner reasonably believed to be in or not opposed to the best
interests of the corporation and, with respect to any criminal proceeding, such
corporate agent had no reasonable cause to believe his conduct was unlawful. In
such proceeding, termination of a proceeding by judgment, order, settlement,
conviction or upon plea of nolo contendere or its equivalent does not of itself
create a presumption that any such corporate agent failed to meet the above
applicable standards of conduct. The indemnification provided by the Act does
not exclude any rights to which a corporate agent may be entitled under a
certificate of incorporation, by-law, agreement, vote of shareholders or
otherwise. No indemnification, other than that required when a corporate agent
is successful on the merits or otherwise in any of the above proceedings shall
be allowed if such indemnification would be inconsistent with a provision of the
certificate of incorporation, a by-law or a resolution of the board of directors

                                     Page 3


<PAGE>



or of the shareholders, an agreement or other proper corporate action in effect
at the time of the accrual of the alleged cause of action which prohibits,
limits or otherwise conditions the exercise of indemnification powers by the
corporation or the rights of indemnification to which a corporate agent may be
entitled.

ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.

     Not applicable.

ITEM 8. EXHIBITS.

     The following exhibits are filed with this Registration Statement:

Exhibit Number    Description of Exhibit
--------------    ----------------------
    4(a)          1995 Stock Option Plan*

    4(b)          1995 Stock Option Plan for NonEmployee
                  Directors*

    4(c)          1995 Employee Stock Purchase Plan

    4(d)          Stock Bonus Plan

    5(a)          Opinion of McCarter & English

    23(a)         Consent of McCarter & English (included in
                  the opinion filed as Exhibit 5(a) hereto)

    23(b)         Consent of KPMG Peat Marwick, LLP


*  Incorporated by reference from Exhibits 10(a) and (b) to the Registrant's
   Registration Statement on Form 8-B, filed with the Securities and Exchange
   Commission on December 10, 1996.

ITEM 9. UNDERTAKINGS

     The undersigned Registrant hereby undertakes:

     (1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement and to include any
material information with respect to the plan of distribution not previously
disclosed in the

                                     Page 4


<PAGE>



registration statement or any material change to such information in the
registration statement; provided, however,

     (2) That, for the purpose of determining any liability under the Securities
Act of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

     (3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of the
offering.

     The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.

                                     Page 5


<PAGE>



                                   SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in Midland Park, New Jersey, on January 21, 1997.


                                        By:  /s/ PAUL VAN OSTENBRIDGE
                                             ----------------------------------
                                             Paul Van Ostenbridge,
                                             President and Chief Executive
                                             Officer
                                             (Principal Executive Officer)

     Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the date indicated.

   Name                      Title                             Date
   ----                      -----                             ----
/s/ PAUL VAN OSTENBRIDGE     President, Chief                  January 21, 1997
-------------------------    Executive Officer and
    Paul Van Ostenbridge     Director

/s/ WILLIAM M. ALMROTH       Director                          January 21, 1997
-------------------------
    William M. Almroth

/s/ HERMAN DEWAAL MALEFYT    Director                          January 21, 1997
-------------------------
    Herman dewaal Malefyt

/s/ HAROLD DYER              Director                          January 21, 1997
-------------------------
    Harold Dyer

/s/ EDWARD FYLSTRA           Director                          January 21, 1997
-------------------------
    Edward Fylstra

/s/ WILLIAM C. HANSE         Director                          January 21, 1997
-------------------------
    William C. Hanse

                                     Page 6


<PAGE>






/s/ MARGO LANE               Director                          January 21, 1997
-------------------------
    Margo Lane

/s/ ARIE LEEGWATER           Director and                      January 21, 1997
-------------------------    Chairman of the Board
    Arie Leegwater               

/s/ JOHN L. STEEN            Director                          January 21, 1997
-------------------------
    John L. Steen

/s/ ROBERT J. TURNER         Director                          January 21, 1997
-------------------------
    Robert J. Turner

/s/ WILLIAM J. VANDER EEMS   Director                          January 21, 1997
-------------------------
    William J. Vander Eems

                                     Page 7


<PAGE>



               EXHIBIT INDEX TO REGISTRATION STATEMENT ON FORM S-8

                                       OF

                        STEWARDSHIP FINANCIAL CORPORATION


Exhibit No.             Name of Document                              Page
-----------             ----------------                              ----
    4(a)       1995 Stock Option Plan*

    4(b)       1995 Stock Option Plan for Non-Employee Directors*

    4(c)       1995 Employee Stock Purchase Plan

    4(d)       Stock Bonus Plan

    5(a)       Opinion of McCarter & English

   23(a)       Consent of McCarter & English (included
                 in the opinion filed as Exhibit 5(a) hereto)

   23(b)       Consent of KPMG Peat Marwick, LLP


*  Incorporated by reference from Exhibits 10(a) and (b) to the Registrant's
   Registration Statement on Form 8-B, filed with the Securities and Exchange
   Commission on December 10, 1996.

                                     Page 8
[{"type": "S-8", "sequence": "1", "description": "FORM S-8", "secsgml_size_bytes": 16878}]
{"company-data": {"conformed-name": "STEWARDSHIP FINANCIAL CORP", "cik": "0001023860", "assigned-sic": "6022", "state-of-incorporation": "NJ"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-20793", "film-number": "97514974"}, "business-address": {"street1": "603 GODWIN AVE", "city": "MIDLAND PARK", "state": "NJ", "zip": "07432"}, "mail-address": {"street1": "603 GODWIN AVE", "city": "MIDLAND PARK", "state": "NJ", "zip": "07432"}}
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 31, 1997

                                                       REGISTRATION NO. ________

================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                ---------------

                                    FORM S-8
                          REGISTRATION STATEMENT UNDER
                           THE SECURITIES ACT OF 1933

                                ---------------

                        STEWARDSHIP FINANCIAL CORPORATION
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                   NEW JERSEY
         --------------------------------------------------------------
         (State or other jurisdiction of incorporation or organization)

                                   22-3351447
                      ------------------------------------
                      (I.R.S. Employer Identification No.)

630 GODWIN AVENUE, MIDLAND PARK, NEW JERSEY                    07432
-------------------------------------------                  ----------
 (Address of principal executive offices)                    (Zip code)

                             1995 STOCK OPTION PLAN
                1995 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS
                        1995 EMPLOYEE STOCK PURCHASE PLAN
                                STOCK BONUS PLAN
                        --------------------------------
                            (Full title of the plan)

                              PAUL VAN OSTENBRIDGE
                      PRESIDENT AND CHIEF EXECUTIVE OFFICER
                                630 GODWIN AVENUE
                             MIDLAND PARK, NJ 07432
                     ---------------------------------------
                     (Name and address of agent for service)

                                 (201) 444-7100
          ------------------------------------------------------------
          (Telephone number, including area code, of agent for service)

                         CALCULATION OF REGISTRATION FEE
--------------------------------------------------------------------------------
                                      Proposed        Proposed
                                      maximum          maximum
Title                  Amount         offering        aggregate       Amount of
of securities           to be        price per         offering     registration
to be registered     registered      share (2)          price(2)         fee
--------------------------------------------------------------------------------
Common Stock,        
  par value          80,000(1)        $22.60         $1,808,000         $548
--------------------------------------------------------------------------------

     (1) Maximum number of shares authorized for issuance pursuant to (a) the
exercise of options under Registrant's 1995 Stock Option Plan and 1995 Stock
Option Plan for Nonemployee Directors; (b) stock purchases under the
Registrant's 1995 Employee Stock Purchase Plan and (c) stock bonuses under the
Registrant's Stock Bonus Plan. This Registration Statement also relates to such
indeterminate number of additional shares of Common Stock of the Registrant as
may be issuable as a result of stock splits, stock dividends or similar
transactions, as described in such Plans.

     (2) Estimated solely for the purpose of calculating the registration fee
and based upon the book value of the Registrant's stock as of December 31, 1996,
in accordance with Rule 457(h)(1).

================================================================================

                                     Page 1
                             Exhibit Index at Page 8
PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.

     The following documents are hereby incorporated by reference in this
Registration Statement:

     (a)  the audited financial statements of Atlantic Stewardship Bank as of
          and for the years ended December 31, 1994 and 1995 and as of and for
          the nine month periods ended September 30, 1995 and 1996, included as
          exhibits to the Registrant's Registration Statement on Form 8-B, as
          filed with the Securities and Exchange Commission on December 10,
          1996; and

     (c)  the description of the Registrant's Common Stock, no par value per
          share, contained in the Registrant's Registration Statement on Form
          8-B, as filed with the Securities and Exchange Commission on December
          10, 1996.

     In addition, all documents subsequently filed by the Registrant pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934,
prior to the filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference in this
Registration Statement and to be part hereof from the respective dates of filing
of such documents.

     Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is
incorporated or is deemed to be incorporated by reference herein modified or
superseded such statement. Any such statement so modified or superseded shall
not be deemed, except as so modified or superseded, to constitute a part of this
Registration Statement.

ITEM 4. DESCRIPTION OF SECURITIES.

     Not Applicable

ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.

     Not applicable.

                                     Page 2
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.

     Article VII of the Registrant's Certificate of Incorporation requires the
Registrant to indemnify its officers, directors, employees and agents and former
officers, directors, employees and agents, and any other persons serving at the
request of the Registrant as an officer, director, employee or agent of another
corporation, association, partnership, joint venture, trust, or other
enterprise, against expenses (including attorneys' fees, judgments, fines and
amounts paid in settlement) incurred in connection with any pending or
threatened action, suit, or proceeding, whether civil, criminal, administrative
or investigative, with respect to which such officer, director, employee, agent
or other person is a party, or is threatened to be made a party, to the full
extent permitted by the New Jersey Business Corporation Act (the "Act").

     The Registrant's Certificate of Incorporation also provides that the
Registrant may purchase and maintain insurance on behalf of any person or
persons enumerated in Article VII thereof against any liability asserted against
or incurred by such person or persons arising out of their status as corporate
directors, officers, employees, or agents whether or not the Registrant would
have the power to indemnify them against such liability under the provisions of
this article.

     Section 14A:3-5 of the Act gives a corporation the power, without a
specific authorization in its certificate of incorporation or by-laws, to
indemnify a director, officer, employee or agent (a "corporate agent") against
expenses and liabilities incurred in connection with certain proceedings,
involving the corporate agent by reason of his being or having been such a
corporate agent, provided that with regard to a proceeding other than one by or
in the right of the corporation, the corporate agent must have acted in good
faith and in the manner reasonably believed to be in or not opposed to the best
interests of the corporation and, with respect to any criminal proceeding, such
corporate agent had no reasonable cause to believe his conduct was unlawful. In
such proceeding, termination of a proceeding by judgment, order, settlement,
conviction or upon plea of nolo contendere or its equivalent does not of itself
create a presumption that any such corporate agent failed to meet the above
applicable standards of conduct. The indemnification provided by the Act does
not exclude any rights to which a corporate agent may be entitled under a
certificate of incorporation, by-law, agreement, vote of shareholders or
otherwise. No indemnification, other than that required when a corporate agent
is successful on the merits or otherwise in any of the above proceedings shall
be allowed if such indemnification would be inconsistent with a provision of the
certificate of incorporation, a by-law or a resolution of the board of directors

                                     Page 3
or of the shareholders, an agreement or other proper corporate action in effect
at the time of the accrual of the alleged cause of action which prohibits,
limits or otherwise conditions the exercise of indemnification powers by the
corporation or the rights of indemnification to which a corporate agent may be
entitled.

ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.

     Not applicable.

ITEM 8. EXHIBITS.

     The following exhibits are filed with this Registration Statement:

Exhibit Number    Description of Exhibit
--------------    ----------------------
    4(a)          1995 Stock Option Plan*

    4(b)          1995 Stock Option Plan for NonEmployee
                  Directors*

    4(c)          1995 Employee Stock Purchase Plan

    4(d)          Stock Bonus Plan

    5(a)          Opinion of McCarter & English

    23(a)         Consent of McCarter & English (included in
                  the opinion filed as Exhibit 5(a) hereto)

    23(b)         Consent of KPMG Peat Marwick, LLP

*  Incorporated by reference from Exhibits 10(a) and (b) to the Registrant's
   Registration Statement on Form 8-B, filed with the Securities and Exchange
   Commission on December 10, 1996.

ITEM 9. UNDERTAKINGS

     The undersigned Registrant hereby undertakes:

     (1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement and to include any
material information with respect to the plan of distribution not previously
disclosed in the

                                     Page 4
registration statement or any material change to such information in the
registration statement; provided, however,

     (2) That, for the purpose of determining any liability under the Securities
Act of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

     (3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of the
offering.

     The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.

                                     Page 5
SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in Midland Park, New Jersey, on January 21, 1997.

                                        By:  /s/ PAUL VAN OSTENBRIDGE
                                             ----------------------------------
                                             Paul Van Ostenbridge,
                                             President and Chief Executive
                                             Officer
                                             (Principal Executive Officer)

     Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the date indicated.

   Name                      Title                             Date
   ----                      -----                             ----
/s/ PAUL VAN OSTENBRIDGE     President, Chief                  January 21, 1997
-------------------------    Executive Officer and
    Paul Van Ostenbridge     Director

/s/ WILLIAM M. ALMROTH       Director                          January 21, 1997
-------------------------
    William M. Almroth

/s/ HERMAN DEWAAL MALEFYT    Director                          January 21, 1997
-------------------------
    Herman dewaal Malefyt

/s/ HAROLD DYER              Director                          January 21, 1997
-------------------------
    Harold Dyer

/s/ EDWARD FYLSTRA           Director                          January 21, 1997
-------------------------
    Edward Fylstra

/s/ WILLIAM C. HANSE         Director                          January 21, 1997
-------------------------
    William C. Hanse

                                     Page 6
/s/ MARGO LANE               Director                          January 21, 1997
-------------------------
    Margo Lane

/s/ ARIE LEEGWATER           Director and                      January 21, 1997
-------------------------    Chairman of the Board
    Arie Leegwater               

/s/ JOHN L. STEEN            Director                          January 21, 1997
-------------------------
    John L. Steen

/s/ ROBERT J. TURNER         Director                          January 21, 1997
-------------------------
    Robert J. Turner

/s/ WILLIAM J. VANDER EEMS   Director                          January 21, 1997
-------------------------
    William J. Vander Eems

                                     Page 7
EXHIBIT INDEX TO REGISTRATION STATEMENT ON FORM S-8

                                       OF

                        STEWARDSHIP FINANCIAL CORPORATION

Exhibit No.             Name of Document                              Page
-----------             ----------------                              ----
    4(a)       1995 Stock Option Plan*

    4(b)       1995 Stock Option Plan for Non-Employee Directors*

    4(c)       1995 Employee Stock Purchase Plan

    4(d)       Stock Bonus Plan

    5(a)       Opinion of McCarter & English

   23(a)       Consent of McCarter & English (included
                 in the opinion filed as Exhibit 5(a) hereto)

   23(b)       Consent of KPMG Peat Marwick, LLP

*  Incorporated by reference from Exhibits 10(a) and (b) to the Registrant's
   Registration Statement on Form 8-B, filed with the Securities and Exchange
   Commission on December 10, 1996.

                                     Page 8