TrustCo Bank


Overview / Commentary
518-344-7510
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.

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

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Health

Health Grade Components

Overall
FDIC Certificate #31945
Year Established1925
Employees858
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.19%
Return on Equity - YTD12.44%
Annual Interest Income$96.1MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$5.23B$4.94B
LoansQ2 2019vs Q2 2018$3.86B$3.70B
DepositsQ2 2019vs Q2 2018$4.46B$4.26B
Equity CapitalQ2 2019vs Q2 2018$500.5MM$456.0MM
Loan Loss AllowanceQ2 2019vs Q2 2018$44.4MM$44.5MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$22.1MM$24.1MM
Real Estate OwnedQ2 2019vs Q2 2018$2.6MM$2.6MM
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$5k-IRA Club Account
0.08%*$15k*-Home Town Savings
OTHER TIERS: 0.05% $200 - $15k
0.05%$200-Passbook Savings
0.05%$200-Statement Savings

TrustCo Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%*$5m*-Money Market
OTHER TIERS: 0.05% Up to $15k | 0.10% $15k - $50k | 0.30% $50k - $100k | 0.35% $100k - $500k | 0.40% $500k - $2m | 0.70% $2m - $5m

TrustCo Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%$500-Home Town Premier Checking

TrustCo Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.55%$500-14 Month CD Special
1.45%$500-7 Month Special CD
0.25%$500-5 Year CD
0.25%$500-4 Year CD
0.25%$500-3 Year CD
0.25%$500-2 Year CD
0.25%$500-18 Month CD
0.25%$500-12 Month CD
0.05%$500-180 Day CD
0.05%$500-30 Day CD

TrustCo Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.55%$500-14 Month IRA Special
1.45%$500-7 Month IRA Special
0.25%$500-12 Month IRA
0.25%$500-18 Month IRA
0.25%$500-2 Year IRA
0.25%$500-3 Year IRA
0.25%$500-4 Year IRA
0.25%$500-5 Year IRA
0.05%$500-30 Day IRA
0.05%$500-180 Day IRA
Locations

Availability



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.