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 Local Bank

We have banked with Trustco for over a decade. We used them for many services from savings accounts, checking accounts, home mortgages and home equity loans. For savings accounts we started when they still had passbook accounts. Today obviously everything is a statement account but the local branches are customer oriented and having a headquarters near where I live means you can reach executive staff or customer service very easily . Unlike larger banks they service the loans themselves locally. I know they are growing having acquired other entities or merged from our upstate NY are to FL but still they remain a locally run entity.

A Big Time EXperience With a Small Town Bank

We have been banking with Trustco Bank for almost 30 years now. Overall, the experience has been top notch. The staff, overall, is friendly, dependable, and knowledgeable, and will go out of their way to assist the customer. We have our checking, savings, ATM card, and safe deposit box with them. Their web site is pretty easy to use and the online banking is easy to use and super convenient. While there have been the occasional small glitches in customer service, these are very minor to the great service the bank provides overall. The locations are pretty convenient and are relatively attractive as far as bank design goes. I have no reason to move away from banking with them, unless I move, and look forward to another 30 years!

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.

Worst Bank

Posted by: mansouth | Jul 13, 2018

This is the worst bank I have ever dealt with. Their customer service sucks. One time, the employee even hung up the phone in the middle of the conversation. These folks have made my account dormant for silly reason. Just because I was not using my Trustco debit card for months should not make my account dormant. I ask the authorities to investigate the wrongdoing by this bank. Why can't I use my money now? coz you have made my account dormant, wow.

They asked me to send a letter to make my account active. Oh man, this is so lengthy process. Are we living in the beginning of the eighteenth century? I told them to close my account. They again asked me to send a signed and notarized letter. Oh man, this much hassle, this much hectic process. Why can't you verify my security info by asking me over phone? I am ready to provide you with my all security info (account number, ssn, dob, address etc.) you want. I have closed my bank account with other banks over the phone. Why can't I do the same with Trustco bank? Other banks don't make their customers' account dormant either for not being active for long time. I feel very shameful and irritated to have account with this bank.

They never respond to the message sent online through their messaging system. If you can't respond through the messaging system, why do you have that feature? Is this feature even working or do you even have dedicated resources to monitor the incoming messages?

Address update feature not working since too long and they damn care about it. Why the address line 2 never updates even after saving? Why don't the new data show in the updated Address line 2 even though the data (that was valid) gets saved? Stop advertising the bank as "Your Home Town Bank". This bank wouldn't even serve the basic purpose of a financial institution. Your IT system sucks equally like your other wrongdoings. Their mobile app is one of the worst (couldn't even view bank statements; Forget about other features).

This bank is a fraud institution and they just want to rob people's hard-earned money. PLAIN DAYTIME ROBBERY BANK. Name your bank like that. Would look awesome.



Health Grade Components

FDIC Certificate #31945
Year Established1925
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.27%
Return on Equity - YTD13.89%
Annual Interest Income$88.3MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$4.94B$4.92B
LoansQ2 2018vs Q2 2017$3.70B$3.46B
DepositsQ2 2018vs Q2 2017$4.26B$4.21B
Equity CapitalQ2 2018vs Q2 2017$456.0MM$433.2MM
Loan Loss AllowanceQ2 2018vs Q2 2017$44.5MM$44.2MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$24.1MM$24.5MM
Real Estate OwnedQ2 2018vs Q2 2017$2.6MM$3.6MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

15-Month CD Special, 2.75% APY

Carpline   |  
15-month CD Special, 2.75% APY, $500 minimum deposit.
Branches in Florida, Massachusetts, New Jersey, New York, and Vermont.


Rates for TrustCo Bank are currently being reviewed.



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