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Overview / Commentary
1 Sarnowski Drive
Glenville, NY 12302

TrustCo Bank is a New York-based institution that offers personal and commercial banking products and services, as well as financial planning advisors that provide guidance on insurance, trusts, retirement plans, etc.

As far as its personal banking side is concerned, TrustCo offers checking, savings, Money Market, and IRA accounts, as well as certificates of deposit (CDs). Its checking account offering has a minimum initial deposit, no monthly service charge and free direct deposit. Savings accounts offer customers the ability to earn interest on the money they deposit and there are savings accounts specifically designed for youth-aged and senior-aged citizens. Money market accounts are available that have minimum balance requirements and offer higher rates of interest based on account balances. CDs and IRAs are offered with term lengths ranging from 30 days to 5 years and have an initial minimum deposit requirement.

TrustCo Bank online banking provides customers with access to account management tools, up to 18 months of transaction history, Bill Pay, and e-statements. TrustCo Bank also features a rewards program in which customers can earn cash back by using a TrustCo Bank card. The bank is part of the Allpoint and Publix Super Market ATM networks that give free withdrawal access to its customers.

TrustCo Bank was established in 1925 as the Canajoharie Building, Savings and Loan Association. The bank changed its name once in 1997 before finally changing it to TrustCo Bank in 2002. It is chartered as a savings association and is headquartered in Glenville, New York, serving its customers through multiple branch locations.

Related Posts

$100 Checking/Direct Deposit Offer At Trustco Bank - 11/15/2016

My local Trustco branch in Orlando was advertising this checking offer: To receive the $100, you must open Home Town Premier Checking Account with Direct Deposit. Direct deposits must be the entire amount from a recurring Payroll, Social Security, and/or Pension (minimum of $100 monthly Direct Deposit). Direct Deposit must be completed within 60 calendar days from account opening. $100 will be paid within 4 weeks of first direct deposit. $5.00 monthly fee will apply on account if direct deposit is cancelled. ends at 4:59 PM ET on 11/30/2016 Trustco Bank - Looking for a New Banker? There’s also a $25 bonus for a consultation with Trustco Financial Services Department. Consultation must be scheduled in November. Trustco Bank - Personal & Commercial Banking - Home Loans & Mortgages - Financial Planning | Trustco Bank

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Great Products And Friendly Staff

Posted by: AndoFL | Mar 8, 2013

This bank has stayed true to the way banking used to be-friendly staff that know your name and are available to speak to in person. You don't get transferred to some call center with an automated line that's impossible to navigate. Simple products without a "chart" to figure out if you will get a fee. No minimum balance to maintain and no monthly service charge. I have always have received great service and it's easy to maintain my account and not worry about getting hit with fees the big banks charge for no reason.

Could do some things better

This bank is just okay. My biggest complaint is that they have NO phone number on the back of their debit card, so if I have a problem, I cannot just call them. I mean, who doesn't put their phone number on their debit card? When I do find their phone number online and call, it has not always been satisfactory so I usually just have to go into the bank to handle the problem. A second problem I had was that I did not check my bank online very often, so when I was basically inactive for about a month and I would attempt to get online with them, I was told my password was invalid. After about the third month, I was ready to close it down. I had planned on switching all my accounts over to them, but decided against it. When I do go into the back the people are really nice and helpful.

Terrible Bank If You Are Not Local

Posted by: judyrfc | Jun 30, 2011

I moved to an area where there is no branch of Trustco anywhere nearby, so any kind of dealing with them has had to be through phone and snail mail.  It is the most backwards and frustratingly inconvenient banking I've ever had the displeasure of doing business with.  

Very inflexible methods of communication are used.  In the past (I've been with them over 11 years, not my choice) if they needed to communicate, it was only through mail, even though my phone number was in their records, but apparently dialing it was too much effort.  I've had to call numerous times to change my address (for the same residence).  

Any kind of dealings with them through snail mail has to be notarized, and then when you need them to reference said mail, it's a gigantic hassle.  As in "the manager isn't here, I can't find it".  Are you kidding me with this - does the manager keep mail on their physical body?  Is this 1930 that you have to rummage through a desk?  Needless to say, it's not at all a pleasure to deal with them and as soon as I can withdraw my money, I will cease doing business with them.  

I would love to give them just 1 star, but in person they were fine.  It's just that if you live in the current age, be prepared to take a dive in the past.

Your Account Freezes After Just 30 Days

Posted by: cwrexford | Feb 3, 2013

My checking account at TRUSTCO is a secondary account I use when I am in NY.   I hadn't used my account in about 2 months and decided to make two payments for state income tax using ACH electronic check on 1/15/2013.  Two weeks later the state sends me two letteres saying the payments were rejected because of "frozen account".  I called the bank thinking there was fraud activity.  They told me the account becomes automatically dormant after 30 days.  To make it active again I would have to make a deposit.  They didn't think that policy was at all unreasonable.  I talked with four other banks and they said they wouldn't make an account dormant for two years.

I pay my real estate taxes using ACH transfers.  Late fees on real estate are several hundred dollars.  This is a risky bank to do buisness with if you are a senion that doesn't do many transaction in a year. Monthly bank statments gave no notice that the account was frozen.  Oddly enough, I became an account holder because I have a large stock position in this bank.  I still feel an obligation to warn people about a practice that is so out of the mainstream.  I have also filed a complaint with bank regulators.



Health Grade Components

FDIC Certificate #31945
Year Established1925
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.91%
Return on Equity - YTD10.49%
Annual Interest Income$120.7MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$4.81B$4.73B
LoansQ3 2016vs Q3 2015$3.34B$3.24B
DepositsQ3 2016vs Q3 2015$4.17B$4.10B
Equity CapitalQ3 2016vs Q3 2015$422.6MM$400.6MM
Loan Loss AllowanceQ3 2016vs Q3 2015$44.0MM$45.1MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$26.0MM$31.9MM
Real Estate OwnedQ3 2016vs Q3 2015$4.8MM$5.9MM
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Always verify rates and promotions with the bank or credit union. We are not TrustCo Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

TrustCo Bank Savings Account Rates

0.10%$200-Home Town Savings

TrustCo Bank Money Market Rates

0.60%*$2m*-Money Market
OTHER TIERS: 0.10% Up to $15k | 0.15% $15k - $50k | 0.25% $50k - $100k | 0.30% $100k - $500k | 0.35% $500k - $2mm

TrustCo Bank Checking Account Rates

0.05%$500-Home Town Premier Checking

TrustCo Bank CD Rates

0.90%--5 Year CD
0.90%--4 Year CD
0.90%--3 Year CD
0.50%$500-11 Month CD Special
0.05%--2 Year CD
0.05%--18 Month CD
0.05%--12 Month CD
0.05%--180 Day CD
0.05%--30 Day CD

TrustCo Bank IRA Rates

0.90%--3 Year IRA
0.90%--4 Year IRA
0.90%--5 Year IRA
0.90%--3 Year CESA
0.90%--4 Year CESA
0.90%--5 Year CESA
0.50%$500-11 Month IRA Special
0.50%$500-11 Month CESA Special
0.05%--30 Day IRA
0.05%--180 Day IRA
0.05%--12 Month IRA
0.05%--18 Month IRA
0.05%--2 Year IRA
0.05%--30 Day CESA
0.05%--180 Day CESA
0.05%--12 Month CESA
0.05%--18 Month CESA
0.05%--2 Year CESA

TrustCo Bank has 145 locations. Click to view all TrustCo Bank locations.