Tompkins Community Bank

When Schuylkill River Greenways wanted help with the preservation and revitalization of the river and a 120-mile trail alongside it, they looked to Tompkins because of our shared commitment to traditional values and economic innovation. They knew that people don’t want to choose between history and modern development. And with Tompkins, they found a return to the days when banking meant investing in a community’s future. Learn more at https://hubs.la/Q02wGH2K0.

Happy Independence Day! All Tompkins offices are closed today, July 4, in observance of the holiday. We will see you Friday!

Tompkins Pride is on the move! To raise awareness of Pride month, 60+ Tompkins employees Walked, Jogged, Biked and Exercised their way through 8,681 miles during the month of June. Tompkins believes in the importance of diversity and inclusion in the workplace and beyond and we are thankful to all of our employees who participated and helped celebrate Pride month.

As we close out our highlight on American Housing Month, we encourage you to learn more about the various first-time homebuyer programs available. Many financial institutions offer incredible products for perspective first-time homebuyers. At Tompkins, one such program is Community One, which has turned home ownership dreams into a much more immediate reality. • Especially designed for first-time homebuyers • Low down payment options • Assists low to moderate income householders • Maximum financing for eligible borrowers • No private mortgage insurance required Subject to credit approval, income, and other qualifying guidelines. There are also various government programs and grants available to make that homeownership dream a reality. Visit https://hubs.la/Q02DJVYz0 for more information.

June 28 is National Insurance Awareness Day and we’re shouting it from the rooftops! 🎉 While most people may not consider themselves overly enthusiastic about insurance… we are! At Tompkins Insurance, we love what we do. Every day, we get to help our valued customers protect what matters most to them. That’s some pretty important business − and we take it very seriously. Thank you for trusting us. Check out our blog to learn more about what we do and all the important individuals that make up our team!

Our highlight on American Housing Month continues. Today, we’re answering an often confusing question - what is included in a mortgage payment? All mortgage payments consist of principal and interest. Principal is the portion of the payment that reduces the original amount borrowed. Interest is the portion of the payment the homeowner pays for borrowing money from a lender, charged as a percentage of your loan amount. In many circumstances, a lender may also escrow for taxes and insurance. If escrowed, your payment would now include principal, interest, taxes and insurance, often abbreviated and called a PITI payment. All this means is that the bank is collecting a 1/12 portion of your taxes and insurance, holding it in an escrow account so when the time comes the bank pays the property taxes and homeowners insurance premium on your behalf. Escrowing for taxes and insurance allows you to accrue the annual amount needed to pay these two typically large obligations in small increments over the course of a year and for many homeowners, budget their money more effectively.

In recognition of American Housing Month, we’ll be sharing useful information about all things mortgages this week! To kick things off, what exactly is a mortgage? A mortgage is a loan agreement between the bank and a consumer used to purchase or refinance a home. The bank lends a homeowner the funds required to purchase the home and in return the homeowner promises to pay the amount borrowed plus interest which is charged as a percentage of the borrowed amount and is the fee collected by the bank for lending the money. A mortgage loan is typically a long-term debt taken out for 15, 20 or 30 years.

In observance of Juneteenth, all offices are closed today Wednesday, June 19. Juneteenth became an official federal holiday in 2021. It is the commemoration of the end of Slavery in the United States and is considered the longest-running African American holiday.

Proud to share that ten of our dedicated CNY employees volunteered at the Dryden Games recently, an athletic competition for students with physical or cognitive disabilities. It was an inspiring day filled with courage and determination. Thank you to our team for their enthusiasm and to the event organizers for creating such an impactful event. #communityservice #inclusion #empowerment #volunteer

We recently honored nine individuals and groups with the James J. Byrnes Awards for Excellence, in recognition of their outstanding service to the community. The awardees each selected a not-for-profit organization to donate to; as a result, the Legacy Foundation of Tompkins County, which oversees the bank’s endowment fund, donated nearly $12,000 to local charities. Check out our blog for a list of all the winners!