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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.

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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.

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.

Terrible Bank!

Posted by: Jogo0997 | Feb 29, 2016

I had a few business accounts with Trustco. Reason why I banked with them was because they're the only bank in my area that has totally free business checking with no limitations. One day after banking with them for a little over 3 years, I get a phone call from the bank manager that she got an email from their compliance department that I need to close all my accounts, with no explanation. Frankly I was kind of relived because their service stinks and I was looking forward for quite a while to finally switch to Chase, so I was laughing my way to the bank! The bank manager was apologetic and expressed to me that they did it to a lot of her clients good business accounts without an explanation.

Anyway, this is what got me mad, a few days later I got a check in the mail for $138 with a letter attached that they decided to close my 4 year old child's passbook holiday savings account and they're sending me his balance. A 4 year old's savings account closed for compliance reasons.... Disgusting!

Trustco- Seek A Credit Union

Posted by: jellya | Apr 25, 2013

I would rate 4-5 stars- ok bank; policies on check holds and fees are clear, even if you don't like theat they hold checks for 24 hours, checks are always free, and the ONLY fee on your accounts are if YOU overdraw it. What? do you really think the bank will give you an interest free loan?! ... you get the disclosure when you open your account people. Try other banks with maintenance fees, transactions limits, and charges for such things as on-line banking or Bill-Pay... The service is always friendly and helpful... I don't like the way they treat the employees. Tey treat them like pawns on the chess-board, and there is ALWAYS a different person sitting at the desk, having to eplain my situation to everyone not only gets old, waste time, but makes me feel very insecure... Just WHO am I giving my information to? everytime they look up my acct. they want my SS#. all these floaters, I can't tell who is still with the bank, and who is taking my information for later... and talking to these 'floating' managers, they don't seem to like it either- they have to pay for their own travel with only minimal reibursement  from the bank in their own vehical-far less then the $0.55/mile alotted on your taxes (at $4/gallon) - I feel bad for these kids- and I mean kids! they have the most inexperienced unprofessional 22 year olds sitting at a desk, who have to call other branches for simple answers... waste of my time.  They are ok for simple checking and savings accounts; try the credit uions for loans... Rumor has it they are downsizing- getting rid of employees (1-3 tellers) left and right... there goes the customer service aspect I liked.



Health Grade Components

FDIC Certificate #31945
Year Established1925
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.9%
Return on Equity - YTD10.49%
Annual Interest Income$80.2MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$4.83B$4.74B
LoansQ2 2016vs Q2 2015$3.30B$3.20B
DepositsQ2 2016vs Q2 2015$4.18B$4.14B
Equity CapitalQ2 2016vs Q2 2015$417.8MM$391.5MM
Loan Loss AllowanceQ2 2016vs Q2 2015$44.1MM$45.6MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$28.2MM$32.4MM
Real Estate OwnedQ2 2016vs Q2 2015$4.6MM$6.1MM
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* 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%--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 - $4,999,995 | 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%$500-9 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
0.50%$500-9 Month IRA 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

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