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.

Trustco Bank, New City, NY

Posted by: |

Very friendly and very efficient service. Good promotions on checking accounts.

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.

Always An Issue With This Shady Bank.

Posted by: |

Trustco, a shady bank. First off, their mortgages are very competitive. Rates are low and no PMI is a huge plus. But this bank is stuck in the late 90s and early 2000s as far as money accounts go. Their online banking system is archaic, slow and difficult to use. But the biggest issue is the shady fees and penalties with no warnings. Ive been with the bank for a decade with my mortgages. They've made a ton of interest off me in that time and thats fine. Recently however, without a warning, letter or email, and out of no where, they changed their checking account rules in so that you must have an average running balance of $500 a month or u get a 5 dollar fee tacked on per month. I rarely check my checking account because this account is strictly to deposit money for my auto pay mortgage each month. So I was angry when I realized how many fees accumulated over the months. They also refused to refund any of it.

Thats not the worst part though. Recently I forgot to transfer the money from my tax savers to my checking to pay for my school taxes. I sent the check out to Colonie and Trustco let the check bounce 3 TIMES!!! Without a single letter, email or phone call. This racked up over a $100 worth of fees. It was a honest mistake from a long time customer and they refused to refund any of it. Super shady! Not to mention without warning, letter, or email, they opened up an overdraft account which created a HARD HIT on my credit without my consent prior to the bounced check. Even worse, the overdraft account didn’t even safe guard me from the bounced check. Unbelievable! Will almost certainly refinance my mortgage with some other bank soon.

Trustco is the new Fee Bank and they show absolutely no loyalty, and refuse to help out their long time customers. Bait and switch shadiness!

Horrible Service

Posted by: |

Not helpful and very rude customer service. They can’t even unlock my card to be used overseas. I had to spend hours giving them all my information over the phone, and get promised its good to go. Only to discover that my card was declined again.
I lost so much time and patience with notoriously unprofessional service.
I am defiantly changing my bank.



Health Grade Components

FDIC Certificate #31945
Year Established1925
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.11%
Return on Equity - YTD11.94%
Annual Interest Income$41.3MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$6.28B$6.05B
LoansQ1 2022vs Q1 2021$4.42B$4.22B
DepositsQ1 2022vs Q1 2021$5.35B$5.17B
Equity CapitalQ1 2022vs Q1 2021$574.1MM$554.2MM
Loan Loss AllowanceQ1 2022vs Q1 2021$46.2MM$50.0MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$19.4MM$21.6MM
Real Estate OwnedQ1 2022vs Q1 2021$269.00K$420.00K
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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%*$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

0.25%$500-12 - 17 Month CD Special
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

0.55%$250-24+ Month IRA Special
0.50%$250-9-11 Month IRA Special
0.45%$250-12-23 Month IRA Special
0.30%$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


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