Chemung Canal Trust Company Rates & Review

Chemung Canal Trust Company Review

Founded in 1833, Chemung Canal Trust Company specializes in trusts and investments but offers a full range of banking services at its 23 branches in upstate New York and Pennsylvania.

Chemung Canal Trust Company has been in operation for over 150 years, opening its doors in 1833 in Elmira, New York, which remains its headquarters. The bank opened its first branch office in 1951 and now has 23 branch locations in New York and Pennsylvania. In spite of this growth, it remains an independent community bank that relies on local involvement to provide products and services that are tailored for its customers.

Everyday banking

Chemung Canal Trust Company provides all of the standard services for both individual and business customers. Some of those products include a free checking account, an interest-bearing checking account, a money market account, a health savings account and a business CD account.

Wealth management

The bank is also known for its trust accounts and investment services, which it has provided since 1903. Chemung Canal's Trust and Investment Center is now one of the largest community bank trust departments in New York, offering help with personal and institutional investments, cash management, wealth management, retirement planning, trusts and estates. This bank also offers numerous types of personal and business loans.

Online amenities

Chemung Canal Trust Company may have a long history as a bank but it offers many 21st-century services, including online banking and online bill pay, as well as several different debit and credit cards with online account access. There is an online education center to provide financial information.

Deposit insurance

Chemung Canal Trust Company offers security in the form of being an FDIC member bank. This insures accounts up to $250,000 per depositor, with more coverage available for depositors who have both individual and joint accounts at the bank.