Financial Tips

Financial Tips

For financial information about the bank’s parent company, Greene County Bancorp, Inc., please visit our Investor Relations website.

For Women, a Pay Gap could Lead to a Retirement Gap

Women in the workforce generally earn less than men. While the gender pay gap is narrowing, it is still significant. The difference in wages, coupled with other factors, can lead to a shortfall in retirement savings for women. Statistically speaking

Life is for the Living, and so is Life Insurance

Life can be busy. The requirements of work and family often leave little time to step back and think about where you’ve been and where you’re heading. But as your responsibilities grow, so does the need to evaluate what would

Medicare and your Employer Health Plan

If you plan to continue working after you reach age 65, you may be wondering how Medicare coordinates with your employer’s group health plan. When you’re eligible for both types of coverage, you’ll need to consider the benefits and costs,

The Health-Wealth Connection

It’s a vicious cycle: Money is one of the greatest causes of stress, prolonged stress can lead to serious health issues, and health issues often result in yet more financial struggles.¹ The clear connection between health and wealth is why

Don’t Let Rising Interest Rates Catch You by Surprise

You’ve probably heard the news that the Federal Reserve has been raising its benchmark federal funds rate. The Fed doesn’t directly control consumer interest rates, but changes to the federal funds rate (which is the rate banks use to lend

What is a Rollover IRA, and Do I Need One?

Generally, the term “rollover IRA” refers to an IRA that you establish to receive funds from an employer retirement plan like a 401(k). A rollover IRA is also sometimes referred to as a “conduit IRA.” When you roll funds over

Student Loan Debt: It Isn’t Just for Millennials

It’s no secret that today’s college graduates face record amounts of debt. Approximately 68% of the graduating class of 2015 had student loan debt, with an average debt of $30,100 per borrower — a 4% increase from 2014 graduates.1 A

Four Numbers You Need to Know Now

When it comes to your finances, you might easily overlook some of the numbers that really count. Here are four to pay attention to now that might really matter in the future. 1. Retirement plan contribution rate What percentage of

Tax Benefits of Home Ownership

Buying a home can be a major expenditure. Fortunately, federal tax benefits are available to make homeownership more affordable and less expensive. There may also be tax benefits under state law. Mortgage interest deduction One of the most important tax

Are You Ready to Retire?

Are you ready to retire? Here are some questions to ask yourself when deciding whether or not you are ready to retire. Is your nest egg adequate? It may be obvious, but the earlier you retire, the less time you’ll