Chemung Canal Trust Company is headquartered in Elmira and is the 33rd largest bank in the state of New York. It is also the 450th largest bank in the nation. It was established in 1833 and as of June of 2022, it had grown to 320 employees at 31 locations. Chemung Canal Trust Company's CD rates are 5X the national average, and it has a B+ health rating.
Great Bank!
I used other banks before I used Chemung Canal, but I have never been happier. Every time I need to know my account balance, I just call, and the girls are very helpful. A few months back, I noticed some charges on my account that I didn't recognize. All I had to do was go fill out a simple form, and they took care of the rest, getting me my money back in my account. I also like how friendly and easy going through the drive-up is. The bank offers web banking which makes things more convenient. Also, they're all really nice when I take my dog through by giving him treats.
I Love This Bank!!!
I switched to using Chemung Canal as my bank after a bad experience with my last bank. The day I went to the bank, the workers were all very friendly and efficient. They helped me open a new checking account quickly and even gave me some starter checks until the box that I ordered came in. At Chemung Canal, they also offered me over draft protection, which I took, and it makes me feel a lot better about my account. Anytime I have noticed something on my statement that I don't understand, they take the time to explain it to me. I have also had a lot of luck in filing disputes with them and getting my money back. They're a great bank to deal with.
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 597 |
| Year Established | 1833 |
| Employees | 320 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.17% |
| Return on Equity - YTD | 15.71% |
| Annual Interest Income | $36.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $2.44B$2.37B |
| Loans | Q2 2022vs Q2 2021 | $1.60B$1.54B |
| Deposits | Q2 2022vs Q2 2021 | $2.19B$2.14B |
| Equity Capital | Q2 2022vs Q2 2021 | $166.5MM$196.3MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $17.5MM$20.7MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $7.4MM$8.6MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $292.00K$123.00K |
