Community Banking. Community Building.

You may wonder what sunscreen and shades have to do with your HSA.  Well, those are just two of the many items that are HSA-eligible expenses.  With summer around the corner, you may want to prepare for fun in the sun by tapping into your HSA to cover sun-protection costs.  Your HSA is the only tax-advantaged account that allows you to save using pre-tax dollars and allows you to spend tax-free for qualified medical expenses.  So, avoid sunburn and use your HSA for sunscreen, prescription sunglasses and SPF 15+ lip balm. 

In order to use your HSA, you must contribute to the HSA.  We are almost halfway through the year and the IRS allows you to save up to $3500 if you are covered as an individual on your health plan or $7,000 if you have family coverage.  You can contribute another $1,000 if you are lucky enough to be over 55 years old. 

Remember, any money deposited into your HSA by you or your employer is yours to keep…forever.  The funds roll over every year and as long as you use the funds to pay for qualified medical expenses, you won’t pay tax on that money.  You can change your contribution to your HSA at any time.  Talk with your payroll department to make a change.

The list of qualified medical expenses is quite extensive and can be found here.  Remember, if you have any questions; please speak with your tax advisor as this information is not tax advice.  Enjoy your summer and remember that GRB is Here. For You.

We are proud to be celebrating alongside one of the Rochester Business Journal's 2019 Women of Excellence, GRB's Executive Vice President and Chief Operating Officer Allana Lazeroff.  Allana received her award, along with other deserving #ROC women at the Joseph A. Floreano Rochester Riverside Convention Center on May 9.    

Allana is a 25-year veteran of the banking industry and joined GRB in 2007.  She is responsible for the bank’s operations, marketing, project management, and cash management teams.  Allana graduated from the John Wiley School of Business at SUNY Geneseo, and earned the Certified Treasury Professional designation in 1999. 

The Women of Excellence awards identify high-achieving women for their tremendous career accomplishments. The women are selected based on their professional experience, community involvement, leadership and sustained commitment to mentoring.

This year’s class, selected by a panel of past Circle of Excellence honorees, features 40 women from a variety of industries. They have achieved impressive career accomplishments and have made the Rochester community better through their civic engagement and mentoring.

At GRB, we celebrate small business every day.  We're a small business and we are deeply engaged with the small business community here in Rochester.  

We know this community and understand its unique needs and opportunities.  We are proud of the hundreds of commercial clients whose innovative ideas and hard work have fueled our local economy and supported its many charitable efforts. 

Small business is the foundation of this community and we are proud to share the story of some of the many successful entrepreneurs with whom we have had the pleasure to work on our Community page.  

Congratulations to our business owner clients and to all those who have had made the bold move to turn their vision into reality.  To recognize your efforts, we are offering a number of activities this week:

• Drop in to our branch locations (schedule below) and treat yourself to some "me time" with a cup of coffee, delicious treats, and a FREE GIFT from GRB.

• Check out our social media channels for infographics and information on the contributions small businesses make economically and in the community -- feel free to share!
• Talk to your relationship manager about the latest GRB tools, products and services to help you reduce costs, guard against fraud, and enhance your operations.

Happy National Small Business Week!