The Chairman, President, and CEO of Trustco Bank Corp NY and its subsidiary, Trustco Bank, Robert J. McCormick, explained letters to shareholders Trustco’s perspective on corporate sustainability:
"Investors increasingly are focused upon corporate sustainability. This means different things to different people, but for us, the meaning is clear and the state of our achievement of it is readily ascertained. Beginning in 1902, Trustco Bank built a venerable financial institution on a foundation of quality banking products delivered at a fair price. Upon that solid foundation, and with the support of investors like yourselves, we constructed and refined an efficient and modern bank that remains committed to the same bedrock principles. In other words, the means and methods have changed, but the heart of what we do has not. By any definition, it is fair to call that sustainability.
To be specific on means and methods, we have improved and enhanced our technology from the platform through which we originate loans, to the teller platforms in our branches where we take deposits, to the mobile devices that enable our customers to easily integrate banking into their busy daily lives. Importantly, all of this has been done with keen focus on data protection. We have adapted the way we do business in order to sustain the core franchise."
"Capitalists rightly advise that to be meaningful, success must be sustainable. Our corporate commitment to running a bank that is the low-cost provider of high-quality banking products and services has sustained us for 120 years. It is our passion for empowering our team members to help make dreams come true for the people of the communities we serve that will sustain us for years to come."
Of course, the effort is dynamic and the real-world attainment of it is realized only through the implementation of fresh ideas. Within this page are some examples of the things that Trustco does every day to bolster its sustainability and, in the process, drive long-term shareholder value. If you have questions or comments about the information provided, or the company’s efforts in this regard, please contact General Counsel and Corporate Secretary, Michael Hall, at email@example.com.