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…
Financial Tips
For financial information about the bank’s parent company, Greene County Bancorp, Inc., please visit our Investor Relations website.
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…
Is It Wise to Trade Your Pension for a Lump Sum?
Most private employers have already replaced traditional pensions, which promise lifetime income payments in retirement, with defined contribution plans such as 401(k)s. But 15% of private-sector workers and 75% of state and local government workers still participate in traditional pensions.1…
401(k) Withdrawals: Beware the Penalty Tax
You’ve probably heard that if you withdraw taxable amounts from your 401(k) or 403(b) plan before age 59½, you may be socked with a 10% early distribution penalty tax on top of the federal income taxes you’ll be required to…
How can I prepare financially for stormy weather?
Floods, tornadoes, torrential rain, lightning, and hail are common events in many parts of the country during the spring and may result in widespread damage. Severe weather often strikes with little warning, so take measures now to protect yourself and…
Tips for Creating a Home Inventory of Personal Property
Imagine having to remember and describe every item in your home, especially after you’ve been the victim of a fire, theft, or natural disaster. Rather than relying on your memory, you may want to prepare a home inventory — a…
How Can I Pay Off the Credit Card Debt I Racked Up Over the Holidays?
It’s a common occurrence once the holiday season winds down — you reluctantly look at your credit card statement and wince at all the purchases you made over the holidays. Fortunately, there’s no need to panic. Consider using one of…
The Giving Season: Tips for Charitable Donations
The Giving Season: Six Tips for Making Smart and Effective Charitable Donations This Holiday Season The holidays are a popular time for charitable donations. With so many charities to choose from, it’s more important than ever to ensure that your…
