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Broome County hotels see slight business improvement in December
BINGHAMTON — Broome County hotels registered a rise in guests in December compared to the year-ago month, as two other business indicators also edged up. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 2 percent to 51.2 percent in the last month of 2023 versus December 2022. For […]
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BINGHAMTON — Broome County hotels registered a rise in guests in December compared to the year-ago month, as two other business indicators also edged up.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 2 percent to 51.2 percent in the last month of 2023 versus December 2022. For the full year, occupancy was down 0.9 percent to 59.2 percent.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, increased 2.8 percent to $51.42 in December compared to the year-prior month. For all of 2023, RevPar in Broome County had gained 3.3 percent to $67.15.
Average daily rate (ADR), which represents the average rental rate for a sold room, inched up 0.8 percent to $100.51 in the county this past December, versus the same month the year before. For the entire year, ADR was up 4.3 percent to $113.34.
Jefferson County hotels register 13 percent decline in guests in December
WATERTOWN — Jefferson County hotels posted a more than 13 percent drop in overnight guests in December, as two other indicators of hotel-business performance were mixed. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 13.3 percent to 36.2 percent in the last month of 2023 from December 2022,
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WATERTOWN — Jefferson County hotels posted a more than 13 percent drop in overnight guests in December, as two other indicators of hotel-business performance were mixed.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 13.3 percent to 36.2 percent in the last month of 2023 from December 2022, according to STR, a Tennessee–based hotel market data and analytics company. For all of 2023, occupancy was down 7 percent to 51.7 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, declined 13 percent in Jefferson County to $36.96 in December, compared to the year-ago month. For the full year, RevPar was off 2.8 percent to $59.86.
Bucking the trend, average daily rate (ADR), which represents the average rental rate for a sold room, edged up 0.4 percent to $102.01 in December from the same month in 2022. For all 12 months of 2023, ADR was up 4.5 percent to $115.73.
Binghamton-led energy initiative to get NSF Engines contest funds
VESTAL — Millions in federal funding are coming to the Binghamton University–led Upstate New York Energy Storage Engine after it was selected for funding in the U.S. National Science Foundation’s regional “Innovation Engines” (NSF Engines) competition. The Binghamton–led project was one of only 10 projects across the country selected for the award, the office of
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VESTAL — Millions in federal funding are coming to the Binghamton University–led Upstate New York Energy Storage Engine after it was selected for funding in the U.S. National Science Foundation’s regional “Innovation Engines” (NSF Engines) competition.
The Binghamton–led project was one of only 10 projects across the country selected for the award, the office of U.S. Senate Majority Leader Charles Schumer (D–N.Y.) announced Jan. 29.
Upstate New York Energy Storage Engine is led by Binghamton University and its New Energy New York (NENY) coalition of partners, per the NENY website.
It will bring $15 million in federal funding immediately, with up to $160 million total over the life of the program, from the NSF to spur growth and research in battery development and manufacturing in upstate New York over the next decade.
NSF Engines was created by the majority leader’s CHIPS & Science Law, his office noted.
“Up to $160 million is now on its way to supercharge Upstate NY as a booming battery research hub being led by Binghamton University,” Schumer said in a news release. “Thanks to my CHIPS & Science Law, Binghamton will be the beating electric heart of federal efforts to help bring battery innovation and development back from overseas to spark growth of this critical industry vital to our nation’s national and economic security.”
Schumer made the announcement during a Jan. 29 appearance at Binghamton University.
Binghamton University’s NSF Regional Engines proposal will capitalize on efforts already underway and “synergize” existing resources to launch new initiatives focused on strengthening the battery supply chain, accelerating the transfer of battery technologies from lab to market, and mobilizing resources around research and development to complement battery-manufacturing initiatives and growing cross-sector partnerships per the release.
“Establishing a battery and energy storage Engine here in upstate New York is a crucial step to bringing domestic production of batteries and a secure supply chain to the U.S.,” M. Stanley Whittingham, Engine chief innovation officer, Binghamton University professor, and Nobel Laureate recipient, said. “It is critically important that battery innovations stemming from university and industry researchers can be developed, prototyped and manufactured in the U.S. in order to leap frog today’s Asian technology. With Senator Schumer’s continued support, we are confident we can transform our region, attract investment, create new jobs and fill those jobs with a skilled workforce.”
Schumer’s office noted that the Jan. 29 funding award follows the more than $113 million announced in 2022 for Binghamton to establish its battery manufacturing and innovation hub. He also secured the federal tech-hub designation for Binghamton University’s NENY project.
About NENY
Binghamton University President Harvey Stenger called the Jan. 29 announcement “another extraordinary win” for the school’s New Energy New York project and the entire coalition.
“We have all of the right academic and research collaborators on board, we are partnered with major industries as well as small businesses, and our ecosystem is diverse. This is what the NSF Engines program is all about. Of course, we want to thank Senator Schumer for his vision, leadership, and support for Binghamton University and the entire NENY coalition,” Stenger said in the Schumer release.
The coalition includes entities in 27 counties in upstate New York. With Binghamton University as the lead, the initiative brings together cross-sector partners including research universities such as Cornell University, Rochester Institute of Technology (RIT), and Syracuse University, for efforts in research and development, as well as New York Battery and Energy Storage Technology Consortium (NY-BEST), Launch NY, and multiple private-sector partners to “ensure effective industry-informed projects,” Schumer’s office said.
Since having been awarded funding, the NENY coalition has supported more than 30 high-tech startups through innovation and technology translation programs, further establishing New York State as a destination for battery and energy storage technology startups ranging from prototyping to scale-up to manufacturing. NENY has also developed a host of innovative programs to support the growth of the battery and energy storage manufacturing industry, which have introduced or trained more than 650 people, per Schumer’s office.
Utica University, SUNY Oneonta sign articulation agreement for future nursing students
UTICA — Utica University and SUNY Oneonta recently announced a new articulation agreement that gives SUNY Oneonta graduates a “seamless transition” into Utica University’s bachelor of science accelerated nursing program. The pact, called the “SUNY Oneonta-Utica University Early Assurance Program Accelerated Bachelors of Science Nursing Agreement,” will create a pathway to further student educational attainment
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UTICA — Utica University and SUNY Oneonta recently announced a new articulation agreement that gives SUNY Oneonta graduates a “seamless transition” into Utica University’s bachelor of science accelerated nursing program.
The pact, called the “SUNY Oneonta-Utica University Early Assurance Program Accelerated Bachelors of Science Nursing Agreement,” will create a pathway to further student educational attainment while addressing workforce demand in the nursing field, the colleges contend in a press release.
“Utica University has long sought solutions and new ideas through partnerships with other academic institutions and industry that advance our mission of serving students,” Utica University President Todd Pfannestiel said in the release. “Our relationship with SUNY Oneonta is a very natural one. The universities are aligned in our commitment to the Mohawk Valley. We share not only a culture of academic excellence and student centeredness, but also a dedication to advancing workforce and economic development in the region and state.”
The program is open to SUNY Oneonta applicants who will be first-time, matriculated first-year students, as well as current SUNY Oneonta students who have completed fewer than 90 credits. Students will complete their first bachelor’s degree in an eligible major at SUNY Oneonta in conjunction with Utica University’s prerequisites. Eligible bachelor’s degree programs at SUNY Oneonta are biology; anthropology, health & human biology concentration; sociology, aging studies track; communication studies; and philosophy, applied philosophy concentration.
Students will then pursue their second bachelor’s degree in Utica University’s 16-month accelerated bachelor of nursing program in Syracuse, Latham, or St. Petersburg, Florida. In their final semester, students will have the opportunity for a registered-nurse position within a partner health-care network.
“It is an important moment that demonstrates how working together, we can address New York’s nursing shortage and the well-being of our communities while providing relevant educational experiences for our students,” said Tracy Allen, dean of the SUNY Oneonta School of Sciences.
Founded in 1946, Utica University offers bachelor’s, master’s, and doctoral degrees in more than 40 majors to a current enrollment of 2,900 undergraduate students and 1,200 graduate students.
SUNY Oneonta provides bachelor’s degrees and graduate certificate and degree programs to a student body of about 5,500.
MVHS reflects on first few months in new Wynn Hospital
UTICA — Now that its been three months since the opening of Wynn Hospital, in downtown Utica, Mohawk Valley Health System (MVHS) leaders are focusing on the positives while acknowledging the negatives. While the Oct. 29 move into the facility went off without a hitch, there have been a few bumps in the road since
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UTICA — Now that its been three months since the opening of Wynn Hospital, in downtown Utica, Mohawk Valley Health System (MVHS) leaders are focusing on the positives while acknowledging the negatives.
While the Oct. 29 move into the facility went off without a hitch, there have been a few bumps in the road since then, MVHS President/CEO Darlene Stromstad tells The Central New York Business Journal. What many may not realize, she notes, is that MVHS anticipated that there would be.
Acknowledging there have been public complaints about emergency-department (ED) wait times at the new hospital, Stromstad says not only was she not surprised by wait times longer than patients experienced when MVHS operated both Faxton St. Luke’s Hospital and St. Elizabeth Medical Center, but that she was expecting them.
“We did expect there to be delays and inefficiencies in service,” she says. It’s a brand-new building with a new style, new patient flow, new equipment, and new processes. On top of that, two hospitals that operated separately from each other came together as one entity on move-in day. Add to that seven new IT applications and other new technology, and things are going to take just a little longer as everyone gets used to things, Stromstad says.
“Every single thing has changed,” she says. “It’s a completely new organization.”
Many employees have been with MVHS for a long time and have developed habits, routines, and a muscle-memory of how to do things or where things are located, she points out. All that is gone at Wynn Hospital where everyone is starting over at square one.
That, coupled with full beds as COVID, the flu, and RSV are in full swing, has resulted in longer wait times for people visiting the ED, Stromstad says. But MVHS has had a process in place since day one to highlight issues, troubleshoot, and find solutions including daily huddles.
“We are making significant progress,” she says. Wait times have improved but aren’t where she wants them to be yet.
As MVHS makes progress on wait times and the other issues that come from settling into a new facility, it’s hard not to marvel at that new facility, Stromstad contends.
“This is a beautiful building,” she says. “Our patients love their rooms.”
After years of planning and construction, it’s nice to see ideas come into practical fruition. Patient floors were designed to lessen noise and disruption by having smaller nursing stations that serve just four rooms instead of one large, bustling nursing desk.
“I’m really, really pleased with how well the nurses have come together on those nursing stations,” Stromstad says. “I’m enormously proud of them.”
MVHS even worked to make sure the sound of patient call bells is quieter, ringing to handheld devices carried by nurses instead of to the desk. Nurses also use those devices, as well as screens in patient rooms, to document and access patient information.
“The doctors are very happy with the size of the space and how it functions,” Stromstad says. “We’ve made a lot of investment in new equipment.”
While all the new equipment is nice, what’s even better is the energy that comes from having all MVHS’s hospital-based employees together into one new, modern facility, she says.
“There’s a liveliness and energy and optimism for our future,” Stromstad says.
Parts of the hospital campus project that are still in the works include an adjacent parking garage being constructed by Oneida County. For now, that means many employees are being bused over to work from the St. Luke’s campus in New Hartford. Stromstad says the garage should come online this spring.
A new 90,000-square-foot medical office building will also open soon with MVHS serving as the largest tenant. Central New York Cardiology owns the building and will also occupy it. The building brings provider offices closer to the hospital. Having outpatient services and a freestanding ambulatory surgery center nearby will also make things much easier for patients.
Beyond that, the new Wynn Hospital has allowed MVHS to steadily work toward expanding its residency programs. Four years ago, it only had two programs, Stromstad notes. Today, it has seven, with about 100 “physicians-in-learning” at Wynn. “It makes us more competitive,” when it comes to recruiting new doctors, she contends.
The Wynn is one of just a handful of new hospitals built in the state in recent decades, Stromstad notes. That in and of itself is an accomplishment.
“How many people get to work in a new hospital?” she asks. “Very few. This is a wonderful opportunity here.”
Oneida Indian Nation quantifies its 2023 economic impact
VERONA — The Oneida Indian Nation increased regional vendor spending by 25 percent, grew capital investments by 23 percent, and increased payroll spending by 18 percent in 2023. That’s all before it even begins a multimillion project to expand Turning Stone Resort Casino later this year, according to a news release from the Oneida Indian
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VERONA — The Oneida Indian Nation increased regional vendor spending by 25 percent, grew capital investments by 23 percent, and increased payroll spending by 18 percent in 2023.
That’s all before it even begins a multimillion project to expand Turning Stone Resort Casino later this year, according to a news release from the Oneida Indian Nation.
“Constant reinvestment and strong partnerships have been the foundations to our success,” Oneida Indian Nation Representative and Turning Stone Enterprises CEO Ray Halbritter said in the release. “With the evolution of Turning Stone Resort Casino ahead, we are excited to continue growing these investments and partnerships for the benefit of the Oneida people, our workforce, and the region as a whole.”
Spending with 792 vendors in Oneida, Madison, and Onondaga counties increased by $28.4 million to
$142.5 million for 2023, while the nation increased investments in capital projects by $18.5 million for a total of $100.3 million last year.
During the year, the nation expanded its offerings at Turning Stone with the creation of NY Rec & Social Club, opened its fourth and largest Maple Leaf Market convenience store, updated Turning Stone’s conference and event spaces with new technology and décor, and opened the first dispensary for its Verona Collective seed-to-sale cannabis operation.
“We’re building new dispensaries, this massive community center, the evolution (of Turning Stone). It’s a lot of growth, a lot of development, and it’s putting a lot of people to work,” Joel Barkin, VP of communications, tells The Central New York Business Journal.
The Oneida Indian Nation increased payroll spending by $34.4 million in 2023 to a total of $220.7 million.
“We’ve added jobs in lots of different areas and also increased starting wages in a number of areas,” Barkin says.
It has also invested in its team with the opening of TS Marketplace, an employee-only dining venue at Turning Stone and the creation of new job opportunities at Verona Collective and NY Rec & Social Club.
“The Oneida Indian Nation has shown time and again that it is a committed partner in the economic success of Central New York,” CenterState CEO President Robert Simpson said in the release. “Its investments play a pivotal role in supporting existing businesses and providing new opportunities for the next generation of entrepreneurs.”
Later this year, the Oneida Indian Nation will break ground on its Turning Stone expansion project. It is expected to generate a one-time economic impact of more than $600 million, create 3,600 one-time jobs, and generate more than $22 million in state and local tax revenues. The project will also expand the Nation’s spending with local vendors and accelerate the growth of its workforce.
“The evolution of Turning Stone Resort Casino will dramatically expand these already historic investments and create a new level of opportunity with more good paying jobs in the trades for workers throughout the region,” Central/Northern Building Trades President Greg Lancette said.
The evolution project will double existing event space, and add a hotel, new restaurants, outdoor spaces, and other amenities across the property, making Turning Stone the largest convention center in upstate New York.
“When the Oneida Indian Nation invests in its enterprises, they are also investing in the success of the Mohawk Valley,” Steve DiMeo, Mohawk Valley EDGE president, said. “These continued investments have had a transformational effect on economic development throughout the region, supporting local businesses, creating new jobs, and growing tourism. With the coming evolution of Turning Stone Resort Casino, this impact is poised for exponential future growth.”
The Oneida Indian Nation’s enterprises include Turning Stone Resort Casino, YBR Casino & Sports Book, Point Place Casino, The Lake House at Sylvan Beach, The Cove at Sylvan Beach, Maple Leaf Markets, SavOn Convenience stores, an RV park, and marinas. Combined, they employ more than 4,500 people.
Naturally Lewis offers more than $900K in grant funding in 2024
LOWVILLE — Naturally Lewis says $930,000 is available in the second round of its four grant programs. Naturally Lewis is the economic-development agency for Lewis County. The grant funds are for the Small Things, Big Impacts Fund; Community Connections Fund; Building Business Fund; and Vacant Property Revitalization Fund, according to a Naturally Lewis news release.
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LOWVILLE — Naturally Lewis says $930,000 is available in the second round of its four grant programs.
Naturally Lewis is the economic-development agency for Lewis County.
The grant funds are for the Small Things, Big Impacts Fund; Community Connections Fund; Building Business Fund; and Vacant Property Revitalization Fund, according to a Naturally Lewis news release.
The Community Economic Development Program committee will review applications for all programs. The committee includes six community leaders and one member of the Lewis County Development Corporation Board.
Those interested can find more information about the Community Economic Development Program and each of the grant opportunities at the following website: https://naturallylewis.com/growing-opportunities/cedf.
About the funds
The Small Things, Big Impacts Fund, which has $26,000 available, will support smaller-scale projects that will “make a big impact.” The 2024 priority for this fund is visibility, “including, but not limited to,” signage, branding, packaging, murals/artwork, and mobile visibility. Applications for the Small Things, Big Impacts Fund opened Jan. 15 and close on March 28.
Naturally Lewis says it will review applications on a quarterly basis until all funds are dispersed.
The Community Connections Fund, which has $60,000, will support municipalities, schools, and 501 (c)(3) nonprofit organizations in projects that will “strengthen ties within the community” to develop relationships, and to spur economic growth and development through the creation and enhancement of public gathering places or services. Applications for the Community Connections Fund will open on April 1 and close on June 13, Naturally Lewis said.
The Building Business Fund, which has $100,000, will support local businesses providing matching funds to invest in the “tools to scale up and grow.” Recipients can use funds for literal tools (equipment/machinery) or figurative tools (business services/professional services) to assist business growth. Projects must show “overall benefit to the community and promote economic development through business growth,” Naturally Lewis said.
Applications for the Building Business Fund will open on July 1 and close on Sept. 26.
The Vacant Property Revitalization Fund, which has $750,000, will support building owners who are looking to revitalize vacant buildings or floors into usable spaces for commercial use.
Applications for the Vacant Property Revitalization Fund will open on Sept. 30 and close on Dec. 5.
New CEO to start soon at Tops, Price Chopper parent company
Prior CEO, Curci, is retiring SCHENECTADY — The CEO of Northeast Grocery, Inc. (NGI), the parent company of Price Chopper/Market 32 and Tops Friendly Markets is getting set to retire and NGI is ready to move forward with a new top executive. NGI’s board of directors on Jan. 22 announced the upcoming retirement of CEO
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SCHENECTADY — The CEO of Northeast Grocery, Inc. (NGI), the parent company of Price Chopper/Market 32 and Tops Friendly Markets is getting set to retire and NGI is ready to move forward with a new top executive.
NGI’s board of directors on Jan. 22 announced the upcoming retirement of CEO Frank Curci, along with its selection of John Persons, NGI’s COO, as Curci’s successor.
Persons, who NGI describes as a 40-year industry veteran, will assume the role of CEO, effective Feb. 26.
He has served as NGI’s COO since June 2023, overseeing both the Price Chopper/Market 32 and Tops Markets operating companies, as well as Northeast Shared Services’ merchandising and marketing functions.
The overall announcement is “part of the company’s strategic succession plan,” and the board selected Persons “following an internal and external search,” NGI said.
“The 43 years I have spent in this business have been challenging and rewarding beyond measure and, without a doubt, the recent years spent planning and then bringing NGI to life have been some of the most gratifying,” Curci said in a news release. “I’m delighted that John has been chosen to succeed me. He has been instrumental in our merger success to date, providing the necessary leadership over these past few years to position NGI for success. While John’s strategic mindset is poised to lead our multifaceted business day to day, he also possesses great vision for our path forward.”
NGI says one of Curci’s accomplishments as NGI’s CEO has been to develop a team of seasoned executives across Tops, Price Chopper/Market 32, and Northeast Shared Services (a subsidiary of NGI providing services to both operating companies). That team is “capable of providing experienced leadership and fueling” the internal succession plan. That plan ultimately led to the selection of Persons to succeed Curci, NGI said.
“I am thrilled to lead NGI forward in collaboration with the talented teammates and associates at Northeast Shared Services, Price Chopper/Market 32 and Tops who are dedicated to nourishing the communities we serve,” Persons said in the release. “On behalf of all 30,000 of us, I’d like to express gratitude to Frank Curci for his leadership and mentorship over the years and reiterate my commitment to build on the momentum and success that he has fostered.”
Persons started as a cashier at Tops and rose to the office of the president. He has spent his entire career with the Williamsville–based grocery chain and now NGI. During his tenure at Tops, he had oversight for various functions, including operations, merchandising, sales and marketing, real estate, information technology, and organizational strategy, all leading to his appointment as president in 2015, NGI said.
Solvay Bank sets sights on growth in the Mohawk Valley
SOLVAY — After more than 106 years of serving Central New York, Onondaga County–based Solvay Bank is pushing its reach further with its sights set on the Mohawk Valley. In late December, the banking company announced its commercial expansion into the Mohawk Valley and the hiring of Matt Nicholl as VP, commercial-loan officer, to serve
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SOLVAY — After more than 106 years of serving Central New York, Onondaga County–based Solvay Bank is pushing its reach further with its sights set on the Mohawk Valley.
In late December, the banking company announced its commercial expansion into the Mohawk Valley and the hiring of Matt Nicholl as VP, commercial-loan officer, to serve the region.
Solvay Bank President/CEO Paul Mello says the demographics of the Mohawk Valley region, including the small-business climate, are similar to Onondaga County and appealing to the bank.
“When we looked at the Mohawk Valley, we felt like it was the perfect complement,” he says. Solvay Bank already has some commercial accounts in the area, making it a natural fit.
And while there are a “lot of fine banks” that already serve the Utica–Rome region, Mello says he believes the market is big enough to support them all.
With all the growth along the tech corridor, the area is seeing growth at all levels, he notes. “That’s what excited us.”
Solvay Bank’s initial focus is to serve the Mohawk Valley’s small businesses.
The bank offers a full array of banking services for small businesses including deposits, loans, lines, commercial real estate, ACH capture, and more.
Solvay Bank can tailor those services to what a business customer needs, Nicholl notes.
He has hit the ground running in his new role, working in the community to establish new relationships and “just getting the Solvay Bank name out there and getting people used to hearing it,” he says.
Along with more than 20 years of banking experience, Nicholl has ties to the community that made him the ideal choice to lead Solvay Bank’s expansion into the Mohawk Valley area, Mello contends.
“We wanted to find someone who lives and breathes the Mohawk Valley,” he says.
Nicholl is active in the community, serving on the boards of Mohawk Valley EDGE and the United Way of the Mohawk Valley. He’s also making sure the bank is actively involved with the Greater Utica Chamber of Commerce, including sponsoring the chamber’s ribbon cuttings.
Solvay Bank offers local lending with local decision making, Nicholl notes. “It allows us to understand what the customers’ needs are. I think that’s what I’m most excited about.”
Nicholl looks around at what’s happening in the area, such as the ongoing development of Harbor Point in Utica and is enthusiastic about those opportunities. “There’s a constant change going on in the market,” he says. Being local will help him stay on top of those changes and the needs of the market.
Nicholl isn’t the only one excited about Solvay Bank’s opportunities in the Mohawk Valley. “Our whole senior management team is committed to the success in the Mohawk Valley region,” VP, Commercial Banking Manager Renee Dellas says. The whole organization not only supports Nicholl, but also many senior bank leaders plan to be frequent visitors to the area.
There are no immediate plans to open a brick-and-mortar retail branch in Mohawk Valley, but technology allows the bank to connect with customers even if they don’t live near a branch, Mello notes.
“As the market demands, we will scale up,” he adds.
Solvay Bank, founded in 1917, has nine branches located in Solvay, Baldwinsville, Camillus, Cicero, DeWitt, Liverpool, North Syracuse, Westvale, and downtown Syracuse. It also operates Insurance Agency, Inc., a full-service general insurance agency.
Student-run bank deepens Tioga State Bank’s community connections
SPENCER — Tioga State Bank’s (TSB) new student-run branch at Spencer-Van Etten High School in northwestern Tioga County does more than provide a convenient place for students, faculty, and staff to bank. It deepens the bank’s connection with the community it has served for 160 years and provides an opportunity for TSB to offer even
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SPENCER — Tioga State Bank’s (TSB) new student-run branch at Spencer-Van Etten High School in northwestern Tioga County does more than provide a convenient place for students, faculty, and staff to bank.
It deepens the bank’s connection with the community it has served for 160 years and provides an opportunity for TSB to offer even more financial-literacy education to students.
The branch, located in its own space just off the main library of the high school, formally opened on Jan. 12. Jenna Gillette, a universal banker in TSB’s Spencer office, oversees the in-school branch. It’s open Tuesdays and Fridays from 9 a.m. to noon on days the school is open. Students Kaili Root and Jacqueline Brown staff the office.
“They actually handle all the transactions that come in through the school,” Gillette says of the student employees. The students can manage basic banking operations including deposits, check cashing, and balance inquiries. Both were trained just like any other TSB employee, Gillette added.
Spencer-Van Etten High School approached TSB about having a branch, Susan Allen, TSB’s senior VP of retail banking, says. Principal Melissa Jewell asked about a school-based branch around last August, Allen says, and they began looking into the idea.
TSB had to reach out to state regulators for approval. “We had a few technological things we had to make sure would work,” she adds. “We had to make sure we could to that safely and securely.”
Once the bank knew it would work, it was full steam ahead. School officials suggested students they felt would be a good fit to staff the branch.
“We are a community bank, so we were excited to be able to offer an additional channel,” Allen says. TSB has educated students on the basics like how to write a check or track balances for years, she says. Having the branch in the school allows for more education and even peer-to-peer education as students learn from those who operate the branch.
The partnership goes beyond just banking, Allen adds. TSB is collaborating with the school’s art department on a contest for a co-branded logo for the branch, and students interviewed Gillette about the branch for an article in the school paper.
“The school has been a fantastic partner,” Allen says.
The new in-school branch has also proven a plus for faculty and staff at the school, Gillette notes. “It’s very convenient for them,” she says. This is especially true for those that oversee school clubs and groups that have accounts, making it easy for them to deposit funds or obtain petty cash, for example, she adds.
The branch has been only open a few times as of press time, but Gillette is hopeful that as the weeks go by, students will check out the branch and, hopefully, become account holders.
Headquartered in Spencer, Tioga State Bank has $547 million in assets and more than 100 employees. The bank operates 11 branches in Binghamton (2), Candor, Endwell, Newfield, Owego (2), Spencer, Van Etten, Vestal, and Waverly.
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