Trustco Bank
Corporate Sustainability

Human Capital Initiatives & Talent Development

At Trustco Bank, we actively encourage and support the growth of our employees throughout their educational and career development. In 2021 alone, we are proud to announce that 247 (roughly 29%) of our employees were promoted within the Bank. Additionally, our employees participated in over 20,000 hours of training, which included a recently expanded Leadership Program. We also consistently host voluntary educational seminars, giving employees the opportunity to network with fellow colleagues and refresh their knowledge on highlighted products or services, all while enjoying delicious coffee and donuts!

Additional initiatives can be found in our Human Capital Management Disclosure.

New Team Member Welcome Program

Based upon feedback received during employee interviews by our Human Resources Department, Trustco Bank has initiated a "Welcome Call" program. Newly hired employees are welcomed to the company with a personal phone call from Chairman, President, and CEO Robert J. McCormick. Additionally, a company executive meets, in person or by video conference, with each new group of employees completing an orientation or training program. The purpose of these interactions is to communicate to the new team members that they are valued by the company.

Follow up conversations have revealed that this personal touch creates a better work environment, accelerates the employees' assimilation into the workforce, and motivates employees to commit to their jobs and thereby facilitates retention. Retaining employees in whom the company has invested orientation and training contributes to the financial success of the enterprise by saving the cost of repeat training and increases the level of experience and expertise of our people.

Mentoring Program

Seeking to better understand and address a need in the bank's human resources area, Chairman, President, and CEO, Robert J. McCormick, began a mentoring program through which he had a group of newly-hired assistant managers report directly to him for their first 10 weeks on the job. The assistant managers regularly met with Rob one-on-one for mentoring and professional development. The participants also received specialized job training. The program was extremely well received by the managers, the Human Resources Department, and the Branch Administration Department in which the managers ultimately worked. The program has been expanded so that, in addition to Rob, all of the bank's Executive Vice Presidents now mentor new assistant manager-level employees in the same way. The professional success, job satisfaction, and retention of program graduates has been monitored and preliminary results are excellent. Further, the mutual benefits of "reverse mentoring" in this program are evident, with knowledge and innovative ideas being exchanged between the mentor and the mentee. More than 40 people have been mentored through the program.

Trustco Bank Leadership

In 2021, Trustco Bank launched a Leadership Program for our management level staff members. The Trustco Leadership Program is an experiential learning opportunity for high-performing employees. It is designed to help managers gain more self-awareness, learn essential leadership skills, and build a collaborative peer network. The development program consists of 4 components: Assess, Learn, Coach, Apply. The goal is for managers to gain a greater understanding of themselves and the significant impact they have on the business.

Diversity and Inclusion

Trustco Bank is committed to creating an inclusive environment that promotes diversity, equity, and inclusion through training, recruiting, and recognition practices to support our employees.

Our Human Capital Strategic Plan focuses on identifying areas of opportunity to further diversify our workforce over time. As of December 2021 our workforce is represented as follows (click to view larger):




Business Ethics

Trustco Bank's Code of Conduct manual must be reviewed and acknowledged by each new hire, and a copy is easily accessible to all employees and the community.

Download a copy of our Code of Conduct, along with other charters and policies we've made available to you.

Community Engagement

At Trustco Bank, we take pride in being a longstanding pillar in the community since we opened for business in 1902. We actively give back to our communities through volunteerism, donations, and educational opportunities. Trustco Bank employees have given their time in support of a growing list of organizations and non-profits, contributing roughly 7,000 volunteer hours in the last two years. Over the same amount of time, the Bank has donated more than $1 million to over 200 organizations that make positive impacts in our communities.

In response to the COVID-19 pandemic, Trustco has increased aid for our communities in need. In August 2020, Trustco donated 450 backpacks containing school supplies, lunch bags, face masks, and sanitizer for the students of Pleasant Valley Elementary School, located in Schenectady, New York. To prevent families from going hungry on Thanksgiving, Trustco also donated 2,000 turkeys to regional food banks in New York and Florida.

BSA-AML Certificate with SUNY Schenectady

Trustco executives, joined by officials from SUNY Schenectady County Community College, presented a certificate to a Trustco Bank Risk Department Manager. The certificate recognizes the manager as the first person to complete the newly created certificate in Bank Financial Security and Money Laundering Prevention offered by SUNY Schenectady.

The program was created through the combined efforts of the bank and the college in a unique partnership. The certificate program, which has been approved by the State University of New York and the New York State Education Department, is believed to the first of its kind in the nation.

Trustco also supported the effort with a $10,000 cash donation to the school for use by its Business, Criminal Justice, and Law Department and for scholarships to assist students in paying for program participation. Further demonstrating its commitment to the undertaking, as part of its ongoing effort to recruit and retain the finest talent, Trustco is paying the tuition of its employees who enroll in the program. Fifteen individuals have enrolled so far.

Trustco Chairman, President and CEO Robert J. McCormick originally conceived the idea for the partnership. Mr. McCormick said "We at Trustco Bank could not be more proud of this great achievement. We are pleased to present this certificate to recognize this success and express our appreciation for the hard work, determination, and academic accomplishment that it represents."

With respect to the program, Mr. McCormick said "Trustco Bank is deeply connected to all of the communities it serves and SUNY Schenectady is its equal in terms of having a strong community-based foundation complimented by a much broader vision." The courses that make up the Certificate Program are offered online and are, therefore, available to students nation-wide.

The Federal Reserve Bank requires employees at U.S. financial institutions to be trained on the Bank Secrecy Act aimed at assisting government agencies in detecting and preventing money laundering. While the new Certificate program is designed to train current bank employees to detect instances of money laundering and fraud in personal and commercial accounts, it is ideal for anyone interested in professional opportunities in banking industry forensics.

"Our new partnership with Trustco Bank is a fine example of how the College responds to the needs of the workforce," said Dr. Steady Moono, President of SUNY Schenectady. "The certificate program benefits not only students, but the banking community and public, as we educate students about anti-fraud practices."

The certificate program includes courses in accounting, business, law, and computer applications. Students take a culminating course covering the Bank Secrecy Act. That course is taught by Lynn Hallenback, who holds a masters degree in accounting and is a Senior Officer in Trustco Bank's Accounting Department. After completing the certificate program, students will qualify for employment in an anti-fraud division at a financial institution or may continue their education toward earning an associate's or bachelor's degree in Accounting or Business Administration.

Financial Access

Trustco Bank takes pride in hosting a wide range of financial education seminars for every generation. Our free Hometown First Time Home Buyers Program seminars and our participation in home show events across our footprint serve as additional channels to inquire about homeownership. We offer free savings accounts for minors and seniors, a "barrier free" savings account product for employees of our business customers, and we have recently joined the BankOn Coalition and are proud to offer a checking account product that meets the BankOn National Account Standards. Our Gallery Account products have low minimum opening requirements and are geared toward helping customers invest and save for retirement.

Check out our Facebook, Twitter and Instagram pages for additional financial tips and tricks!

Barrier Free Savings Account Product

Responding to published research, Trustco Bank is seeking to do its part in helping people overcome the barriers that result in the average American household being unable to handle an emergency expense of $400 or more. As a step toward this goal, Trustco Bank has developed a "barrier free" savings account product, as a benefit to employees of business customers, in order to encourage saving by removing minimum balance requirements and monthly maintenance fees.

This savings program is seen as an ideal sustainability initiative because it will create quality of life improvements for our people, enhance human capital management (including retention), and bolster long-term shareholder value by increasing core deposits and multiple-account customer relationships.

New York Financial Literacy Course

In December 2019 the Bank partnered with a Schenectady County not-for-profit, Northern Rivers, to develop a financial literacy course for their clients. Bank staff met with Northern Rivers to determine specific topics the audience was interested in learning more about, then developed course content to meet their needs. Northern Rivers was pleased with the first presentation and hopes to have the Bank present annually in the fall for each new group of clients.

As presented on the agency's web site, Northern Rivers is family of human services agencies providing help and hope to those who struggle with abuse, neglect, trauma, mental health challenges, educational difficulties, career training and employment, and service navigation through an innovative continuum of home-, clinic-, school,- community- based, vocational rehabilitative, supported employment, and senior-supporting programs that provide person-centered, trauma-informed innovative solutions to ensure clients live their best lives.

Northern Rivers has a 190-year heritage. Their 1,400-strong workforce provides services for 16,000 children, adults, and families throughout 41 counties in New York State.

Florida Financial Literacy "Reading Time"

Trustco Bank's Lake Nona, Florida Branch Manager goes to local schools and daycare centers to read a book about saving money. The manager makes it very interactive by asking questions and teaching kids words like "Savings Account" and "Deposit."

Robert's work recognizes that it is crucial that young people start saving money at an early age for their future, so he explains things like working hard and receiving rewards. In the reading sessions, he and the children discuss a scenario where a child works hard for a new game and opens up a Savings Account at his local bank where he receives a passbook to manage his account. The manager reports that he has had tons of fun reading this book to Pre-k all the way to 4th grade students.

Gallery Investment Product

In an effort to help more individuals start to build their investment portfolios, Trustco Bank established low minimum balance investment and retirement accounts, known as our Gallery Accounts. These products serve as an introduction to our Financial Services department, and offer three different investment objectives, to meet an investor wherever they may be in their financial journey. Learn more about our Financial Services department, and how we can assist you in reaching your financial goals.

Related Resources

Why You Should Open A Health Savings Account

Do you wish you had better control over how you spend your health-care dollars? If so, you may be interested in an alternative to traditional health insurance called a health savings account (HSA).



At Trustco Bank we understand the importance of limiting our carbon footprint while delivering the best value to our shareholders.