Welcome to the GRBblog! Get to know GRB, Rochester's only locally owned and managed commercial bank. A commercial bank, but also a community bank, with an entrepreneurial spirit about everything we do. We're committed to Growing Rochester Business and making our community a better place to live and work.
The GRBblog is where we post bank news and information, stories about the great organizations we support, and share relevant local and national business news.
GRB CFO Gary Schwingel Joins Mary Cariola Board of Directors
Mary Cariola Children’s Center serves children with multiple, complex disabilities; public and private schools aren’t able to accommodate these children. It was founded in 1949 by Mrs. Mary A. Cariola, along with parents and friends of children with significant disabilities. Over the years, the Center has evolved from a day care to a nationally renowned agency that strategically maps out a customized plan—clinically and educationally—for every child who walks through its doors. For more information on the agency, go to the Mary Cariola Web site.
Same Day ACH Phase 1 Begins September 23
On Sept. 23, 2016, the banking industry will introduce a new faster electronic payment option for eligible transactions known as Same Day ACH or “SDA”. Introduced by the National Automated Clearinghouse Association (NACHA), this change will enable ACH Originators to send eligible transactions to settle on the same day as initiation.
In order to make the adoption of this new option as smooth as possible financial institutions, including GRB, will be rolling out this new capability in three phases:
- Phase 1 will be effective on Sept. 23, 2016. It requires all institutions to receive eligible Same Day ACH payments. Offering origination of Same Day ACH transactions will be optional for all institutions.
- Phase 2 will become effective on Sept. 15, 2017. It will add the availability of processing eligible Same Day ACH debit transactions.
- Phase 3 will be effective on March 16, 2018 and will require institutions to post Same Day ACH transactions by 5p.m. local time.
There will be no additional charge to receive a Same Day ACH transaction and no impact to traditional ACH transactions, as they will continue to settle within the normal 1-2 day timeframes.
Unfortunately, international transactions and transactions above $25,000 will not be eligible for same day processing. Initially, only credit files will be eligible until the implementation of phase 2. Phase 2 will include debit transaction processing.
GRB on Point with Online & Mobile Banking Trends, Announces Enhancements to Mobile App
Online and mobile banking are now the most preferred forms of banking, with more than half of all Americans managing their accounts online, according to recent survey results released by the American Bankers Association (ABA). GRB is pleased to note that it is following this trend closely and has introduced additional enhancements to its GRBmobile App for Android and iOS.
In the ABA’s annual survey, online banking with a computer or tablet came in at 55% and mobile devices registered 18% when respondents were asked, “Which method do you use most often to manage your bank account(s)?” The boost in mobile use was a full 6 points over the previous year’s survey.
“More people are walking around today with their mobile device in hand, and banks have made it easier than ever for them to access their accounts anytime and anywhere,” said ABA SVP Nessa Feddis. “It’s no surprise that millennials and other digital natives are embracing the convenience of technology to conduct quick transactions. Mobile banking is also a helpful real-time option for those who have a smartphone but not a computer.”
The chart at the right provides an overview of the ABA’s survey results.
“The old adage of ‘be where they are’ rings true with banking,” said Feddis. “People like options, and today’s banks offer a diverse menu of banking methods to meet the needs and preferences of their customers.”
GRB is actively adding new features and capabilities to its online and mobile banking solutions. The most recent enhancements to the GRBmobile App include a number of usability and security features such as:
- Touch ID for iOS
- Viewing Check and Deposit images
- Viewing statements in GRBmobile Deposit
- Customer-initiated password change
- And more…
To find out more about the latest updates to GRBmobile, view the GRBmobile Enhancement Guide.
To view a PDF file, download Acrobat Reader.
GRB Mortgage Raises Awareness and Funds for Veterans Outreach Center
Capping off a month-long fundraising effort, the GRB Mortgage team was pleased to present a check for $3,100 to Veterans Outreach Center (VOC) Executive Director Todd Baxter. GRB Mortgage donated $25 to the VOC for each mortgage application submitted during the month of July.
“Real money doing real things for our veterans,” said Baxter as he accepted the check. “Thank you for your efforts and for just helping us raise awareness.”
Raising awareness of the struggles our local veterans face is an ongoing mission for the VOC. Veterans who reach out to the VOC often need a wide range of critical services including benefits counseling, therapy, housing, job training and more.
Baxter noted that last year the VOC helped more than 1,000 veterans and worked with local employers to place more than 400 in good-paying jobs.
“We also run a shelter with 28 beds for homeless veterans,” said Baxter. “It’s always full.”
Each year, the GRB Mortgage team helps dozens of veterans purchase homes through Veterans Administration loans. But for those struggling with the transition when they come home, more assistance is often necessary. The VOC’s programs and services are all available to veterans free of cost.
“This is an amazing thing we’ve done,” said Jacqueline Sloan, a GRB Mortgage Sales Assistant and the wife of an active duty soldier.
Thank you to the GRB Mortgage team for their efforts in making the VOC fundraiser a success. Congratulations, team!
GRB President and CEO Phil Pecora Appointed Chairman of McQuaid Jesuit’s Board of Trustees
GRB is proud to announce the appointment of President and CEO Phil Pecora to the position of Chairman of the McQuaid Jesuit Board of Trustees.
Pecora, a 1988 graduate ofMcQuaid Jesuit,joined the school’s Board of Trustees in 2008 and has served in a variety of roles including as a member of the Executive Committee, a position he will continue to hold.
“[Phil Pecora’s] personal experience and commitment will infuse a leadership that will guide McQuaid Jesuit into the next phase of its history,” says McQuaid Jesuit President, Rev. Robert E. Reiser, S.J.
McQuaid Jesuit’s Board of Trustees has 26 members along with four honorary members.
GRB Sponsoring Fundraiser for Veterans Outreach Center in July
GRB Mortgage is pleased to announce it is sponsoring a fundraiser to benefit our local service men and women. The celebration of our country’s freedom on July 4 is a great time to remember how many people have made sacrifices so that we can all continue to enjoy that freedom. To honor them, GRB Mortgage will donate $25 for every residential mortgage application taken in the month of July to the Veterans Outreach Center (VOC).
For those of you who may not be familiar with VOC, the organization was established in 1973 and provides comprehensive resources to current and former members of the U.S. Armed Forces and their families through direct service, community collaboration and advocacy. This includes providing a wide range of services such as benefits counseling, job training and placement, mentoring, legal resources, therapy services, housing assistance and much more.
There are a number of great success stories featured on the organization’s Web site. You can learn more about VOC and follow their efforts on their Web site at www.vocroc.org, on Twitter @VOCROC and on Facebook @vocroc1973. Also, look for VOC at the July 4 Red Wings games!
Check back on the GRB home page at www.GRBbank.com throughout the month of July to see our fundraising progress! If you are interested in a purchase or refinance, talk to our mortgage team.
Spread the word and we thank you in advance for your support of our local service men and women.
June is National Homeownership Month — Dare to Own the Dream
Owning a home is a source of pride for an individual and creates stability and a sense of community. As we observe National Homeownership Month this June, it is crucial that the dream of home ownership remain an area of focus.
According to a White House proclamation issued in support of National Home Ownership Month, “During National Homeownership Month, we recommit to ensuring more of our people can reach for this fundamental piece of the American dream…This month’s theme, ‘Dare to Own the Dream,’ emphasizes the importance of ensuring borrowers have the ability to purchase a home that serves them and their families well.”
At GRB, we believe in the dream. We participate in a number of residential lending programs designed to assist buyers in finding financing options that meet their needs:
- Our First Home Club program provides a savings program for qualified borrowers that helps accumulate the funds for a down payment with matching grants and provides education sessions so buyers learn more about the basics of home ownership.
- We also work with the University of Rochester to provide matching funds as part of its University Home Ownership Incentive Program for U of R employees purchasing homes in the vicinity of the River Campus and Medical Center.
- GRB also provides government-backed loan options including FHA (low down payment), VA (active-duty military and veterans) and USDA (rural home purchases). These options put home ownership in reach for more people.
At GRB we are pleased to assist those who “Dare to Own the Dream.” Visit GRB Mortgage for more information or call us at 585.427.9200.
New GRB Headquarters Reflects Growth, Focus on Personal Touch
We are pleased to be featured in today’s edition of the Rochester Business Journal in an article discussing the move to our new headquarters. The article traces GRB’s growth from just 17 employees 13 years ago to more than 100 today. That growth could not have occurred without the dedication of our employees, partners and clients.
Even though banking transactions are increasingly conducted online, it is the relationship that remains critical for GRB and its clients.
“This is a relationship business, and as we hold loans we grow relationships and that has a snowball effect,” said GRB President and CEO Phil Pecora in the RBJ article.
Andrew Carpentier, president and owner of Rochester Magnet and a GRB client for six years, also reinforced the importance of the relationship in banking.
“It’s the personal touch,” Carpentier added. “They know our business inside and out…so we’re not some foreign entity to them or lost like you would be in a big bank.”
We are thrilled to be in our new location and we look forward to continued growth as we help local businesses leverage new opportunities, help homebuyers establish roots in our community, and help individuals and families secure their financial future.
Thank you, Rochester!
GRB is proud to announce that it has been recognized as one of the “Best Companies to Work for in New York 2016” by the NYS chapter of the Society for Human Resource Management (SHRM). This year, we ranked 15 out of 45 in the small/medium size category, up one place from last year. The 2016 award marks our fourth year on the “Best Companies” list.
See the GRB feature in the Best Companies program: http://bit.ly/BestCoNY2016
Rankings in the annual program are chosen based on employee responses to the engagement and satisfaction survey, as well as the employer-provided benefits and policies questionnaire. The results are analyzed based on eight core focus areas:
- Leadership and Planning
- Corporate Culture and Communications
- Role Satisfaction
- Work Environment
- Relationship with Supervisor
- Training, Development and Resources
- Pay and Benefits
- Overall Engagement
It is no small feat to appear on this list year after year. So, to the members of the GRB team, a sincere thank you. This award is a testament to your ability to work together, provide our clients with stellar service, and help each other meet and exceed goals. You are The Best!
GRB is on the Move, Just in Time to Celebrate National Small Business Week
In a carefully executed plan involving no fewer than a million moving parts, GRB completed the move to its new corporate headquarters last weekend. We are up and running from our new location at 1850 South Winton Road in Brighton, just off I-590, and just in time to celebrate National Small Business Week (NSBW).
Sponsored by the Small Business Administration, NSBW celebrates the small businesses that create “nearly two-thirds of net new jobs in the U.S. and employ more than half of all Americans.” As a small business ourselves, this is what makes the move to our new headquarters so exciting. Our move means that our clients and partners here in the Rochester region are growing, too.
So, happy National Small Business Week to our clients, partners and all Rochester small businesses! You took a leap of faith and made your business dreams come true. You have grown, expanded your services and helped make the Rochester community a dynamic place to live, raise a family and do business. Your innovative spirit and hard work inspire us every day at GRB. Congratulations!
And if you’re in our new Winton Road neighborhood, stop by and visit us!