TrustCo Bank

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.

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.

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.

Never Gets Thing Right!

Posted by: |

I am not sure where to start. Me and my husband have had both tried different banks before making a joint account. This was a mistake. It started back when I first started having my checks direct deposited into his account. One day I noticed I had X amount in our account but only X amount available and did not know why? It was because they thought there was an error and instead of even trying to contact us they were gonna sit there and just send it back they said.
This is where it gets better. We both go into the bank together to explain and make sure my name is now on the account because we thought they added it before so we were confused why my checks were getting stuck. They then say oh we never added you to the account. I was like WHAT we already went through all this and even signed paperwork and I was even suppose to get my debit card in the mail. They apologized and I was okay because things seemed fixed so I let it go.
Well I do not receive my card in the mail so I go to the bank myself without my husband to ask and they say oh we mailed it to your old address. I was just shocked by now because we deleted that address a month before I ordered my card and I was still nice. I said okay well can you please have a card mailed to my address on file and they read me my address and I said yes that is the one. I was still confused as to why if they had my current address on file as to why it went to my old address but it was done. I waited another 2 week and no card.
Long story short and to sum it up we are looking for another bank that listens. I have had to visit the bank over 4 times for the same issue and it still is not solved and I still do not have my debit card. I also dislike how bad their online banking is at keeping track of things. I keep a notebook like a old check book because I keep better track on where my money is going especially over the weekend. I think we are just gonna go to my bank I had before I joined my spouses bank because I have not one bad thing to say about them. If a bank can't even get my address right after 4 visits then I do not trust them to do much else. The weirdest thing is though the staff are nice as heck.

Excellent local bank

I have had a number of experiences with the bank including a savings account, a mortgage and an equity loan. Through each transaction I applied or functioned directly through a local branch . The local representatives are excellent. The service was fine. Any questions were answered quickly or through the local branch staff. If I needed a more upper level issue the Bank is based in Schenectady NY . I am in Albany NY



Health Grade Components

FDIC Certificate #31945
Year Established1925
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.01%
Return on Equity - YTD10.91%
Annual Interest Income$84.6MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$6.12B$5.68B
LoansQ2 2021vs Q2 2020$4.30B$4.13B
DepositsQ2 2021vs Q2 2020$5.23B$4.87B
Equity CapitalQ2 2021vs Q2 2020$561.6MM$539.6MM
Loan Loss AllowanceQ2 2021vs Q2 2020$50.2MM$48.1MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$20.8MM$21.9MM
Real Estate OwnedQ2 2021vs Q2 2020$251.00K$830.00K
Report an Issue

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%*$250k*-Home Town Savings
OTHER TIERS: 0.01% $200 - $50k | 0.03% $50k - $100k | 0.05% $100k - $250k

TrustCo Bank Money Market Rates

0.50%*$10m*-Money Market
OTHER TIERS: 0.02% $2.5k - $15k | 0.03% $15k - $100k | 0.08% $100k - $500k | 0.10% $500k - $2m | 0.15% $2m - $5m | 0.25% $5m - $10m
0.50%*$10m*-IRA Money Market
OTHER TIERS: 0.02% $2.5k - $15k | 0.03% $15k - $100k | 0.08% $100k - $500k | 0.10% $500k - $2m | 0.15% $2m - $5m | 0.25% $5m - $10m

TrustCo Bank Checking Account Rates

0.01%$500-Home Town Premier Checking

TrustCo Bank CD Rates

0.10%$500-5 Year CD
0.10%$500-4 Year CD
0.10%$500-3 Year CD
0.10%$500-2 Year CD
0.10%$500-18 Month CD
0.10%$500-12 Month CD
0.05%$500-180 Day CD
0.05%$500-30 Day CD

TrustCo Bank IRA Rates

0.15%$250-12 Month IRA
0.15%$250-18 Month IRA
0.15%$250-2 Year IRA
0.15%$250-3 Year IRA
0.15%$250-4 Year IRA
0.15%$250-5 Year IRA
0.10%$250-30 Day IRA
0.10%$250-180 Day IRA


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.