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Rhinebeck Bank Blog

May 1, 2019

First Impressions

Most of us have heard the phrase “You never get a second chance to make a first impression.” This is especially true during a job search.

Your resume is usually the first impression you will make on a potential employer. I am amazed that in our technology driven world, so many resumes are submitted with typos or errors. One recent resume I received included years of employment “2009 to 2015”. How did that error even happen?!? If the first work product you show to an employer has errors, what does that say about the work you will produce for them? Not much.

With many applicants applying for the same job, it is important to make yourself stand out. Make sure your resume is visually appealing. The font should be consistent, the words should be spaced evenly on the page and it should fit on one page if you have less than 10 years of work experience. And of course it should detail WHAT you did and HOW you did it.

Before finalizing your resume read it out loud, run it through spell check, give it to someone to proof read (teachers are great at this.) Ask yourself “Am I proud of this document? Does it reflect who I am as a potential employee?" After all, that is the story your resume tells.

P.S. – A firm handshake and good eye contact never hurt a candidate’s chance either.

Jeanine Borko

SVP, Human Resources

Jeanine Borko - Headshot

Blog Divider - DecorativeApril 23, 2019

How to use our Mobile App:

Step 1: Enroll in Online Banking through (You must be enrolled in Online Banking prior to using the mobile app)

Step 1: Download and open our new app on your smart phone or tablet. 

Step 2: Log in with your username and password for online banking.

Step 3: Answer the validation questions presented to authenticate your identity. (You may be asked these questions again if you update your device or browser.)

Step 4: Key in your mobile number. (If using a tablet without a mobile number, key in your home phone number.)

Step 5: Read and accept our terms and conditions. .

When logging on in the future you will only be asked for your username and password unless you have updated your device and/or browser.

With our Mobile App you can…

  •  Deposit Checks (not available with Mobile Website)
  •  Check Account Balances
  •  View Account History
  •  Make Transfers
  • Pay Bills
  • Send money with Zelle®
  •  Locate Branches and ATMs near you


Download the app for your smart phone or tablet today!

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

Michelle Barone-Lepore - Headshot

Blog Divider - DecorativeApril 16, 2019

Why Millennials need to start saving for retirement now!

For new professionals beginning a career in their early 20’s retirement can seem light years away. I certainly felt this way in my early 20’s, and to some extent still feel in my mid 30’s. The reality is retirement is not that far away. The longer millennials wait to start saving, the more difficult achieving retirement goals will be. For a long time the combination of Social Security and in most cases a pension ensured a semi comfortable retirement. Adding a 401k and/or IRA to the mix was just icing on the cake. For most job families pensions are a thing of the past, and social security is a big question mark. This leaves personal retirement savings as the most reliable way for millennials to achieve their retirement goals. So why is it so important to start early?

Building a savings habit

It’s easy to procrastinate when you first start your career. Common reasons for procrastination are, time, lack of disposable income, awaiting inheritance, etc. Although these feel like good reasons to wait I can ensure you they’re not. You’re in control of when and how you retire. Building a strong savings habit early is very important to building wealth. Starting a savings plan is often the hardest part, once established it becomes an addiction. Understanding money is tight when you first start your career, here are few tips to give you a kick start.

  • Create a budget and include an amount for savings, whatever you can afford, it all adds up!
  • Take advantage of your employer’s 401k plan. Most of these plans offer a competitive match, which is free money! Start with a small percentage and increase every year by 1%.
  • Try the 52 week challenge. Start week one by saving $1, the following week save $2, increasing your savings $1 every week for 52 weeks. At the end of the year you’ll have saved $1,378!

Time is Money

Have you ever heard of compounding? Compounding is the ability of an asset to generate earnings, which are then reinvested in order to generate their own earnings. In other words, compounding refers to generating earnings from previous earnings. Hypothetically speaking say you contribute $5000 to an IRA. In the first year your account balance grows by 10%. Your investment is now worth $5,500. In year 2, your account balance grows by another 10%. In this case your $5,500 account balance grows to $6,050. Rather than your investment growing $500 in the previous year, it grows $550. The additional $50 in growth is a direct effect of compounding. Each year growth takes place, compounding has a more dramatic effect than the year prior. Those that begins saving for retirement in their early 20’s have ten more years of compounding growth as compared to those starting in their early 30’s. In this case, time really is money!

Retire when you want, not when you can

The great thing about retirement planning is that you’re in the driver’s seat and in control. You control how much you contribute, the investment type, etc. Although fluctuations should be expected when investing, having the right plan will send you on the way to achieving your goals. At some point you may have been asked when you want to retire. Were you confidently able to answer this question? Most are not, nor should they be able to say definitively. However, having a plan in place with specific goals set will put you in the best position to answer this question.

Mark Malone

SVP, Retail Banking 

Mark Malone - Headshot

Blog Divider - DecorativeWhy Businesses Should Bank Local!

April 2, 2019

It happens all the time.  A business is positioned for success, but doesn’t necessarily have the capital on hand to fund their dreams of growth, whether that’s purchasing a new piece of equipment, a new vehicle or any other “piece of the puzzle” to help their business grow and succeed.  They need a financial partner that can provide the lending support they need to take that next step. 

Here are three great reasons why that financial partner should be a community bank:

1.  Familiarity.  Your local bank has a deeper understanding of your business, your industry and your local economy.  Employees of a community bank, including the underwriters and branch staff that businesses typically deal with on a regular basis, tend to live in the same communities where your business operates.  As part of their application and underwriting processes, a fuller, more robust perspective on your business needs and challenges is ascertained.  With that perspective in hand, decisions are made locally, something that is not typical with larger financial institutions.

2. Collaboration = Improved Local Economy.  “Community banks and local businesses serve the same community – you’ll see them helping out with similar efforts like charitable giving, employee volunteerism and providing assistance to community members in need.”* At Rhinebeck Bank, we know that monies we lend to local businesses will provide exponential benefits.  Let’s use our Small Business Express Loan as an example of how this collaboration works.  With an Express Loan, a local business may purchase a piece of equipment that allows them to complete jobs more efficiently, allowing them to take on more projects and, ideally, create a need for new employees and/or stabilize existing jobs within their organization.  Business growth may lead to higher employee wages, and the potential increase in their discretionary income that results from a higher wage will likely be spent with other businesses in our community, donated to local non-profits and so on. 

3. Flexibility.  It’s understood that all financial institutions have guidelines when it comes to commercial lending.  Certain standards have to be met when it comes to determining how likely a potential business customer will be able to repay their loan obligation.  That being said, community banks offer a level of flexibility when it comes to decision making that regional or national banks may not be able to match.  Depending on the circumstances, some underwriting flexibility may be applied if other important criteria fall within the bank’s existing lending guidelines.  Regional and national lenders are typically more rigid with their loan underwriting requirements, with limited, if any, flexibility based on a business’ repayment history, financial records, growth projections, etc.

If you are a small business owner looking for a trusted local lender, please visit us online at or contact us today at (845) 454-8555, option 3 to learn how we can help you succeed and start saying “I Bank at Rhinebeck Bank” like numerous other Hudson Valley businesses!


Rhinebeck Bank.  Member FDIC.

*2018, July 24.  Smart Business.  “How banking locally benefits your business, the economy”.



Patrick Hickey

Marketing and Communications Coordinator


Blog Divider - DecorativeA Day in Rhinebeck! 

February 19, 2019

Rhinebeck is one of the more lively towns in the Hudson Valley, with cute local shops, amazing restaurants and cobblestone streets to walk down, you can make a day our of your next bank visit.

Starting in the morning, one of my favorite places to eat is Bread Alone, a quaint little restaurant with both classic and unique menu options.  One of my personal favorites is the avocado toast.  There is also Rhinebeck Bagels & Café, The Matchbox Café, and more.  Once you have finished your breakfast, you can walk around, find some stores that interest you and then make your bank visit.  A popular store is the local sweets shop that is owned by Paul Rudd and Hilarie Burton , Samuel’s Sweet Shop.  They have amazing coffee, tea, a large collection of old-fashioned treats and delicious baked goods.  Once you have enjoyed the many local stores and fit in your bank visit, you’ll be close to lunch time, and that is when even more options open up.  There is a possibility of almost any type of food, whether it is Thai, Indian, American, French or Italian.  Yelp is a great resource to use to fine tune your choice and make sure you aren’t missing out on any hidden gems.  Once you are ready to head out of Rhinebeck, you can make some stops along the way.  If you are headed south, you will come across some amazing parks.  One of my favorites is the home of Franklin D. Roosevelt.  The entire property is unbelievable, from the houses and the museum to the land and the view from the house, and the walking and driving paths.  There is also the historic Vanderbilt Mansion, which is nothing shy of amazing.  If you’re looking for more of a nature walk, there is the Margaret Lewis Norrie State Park, which has several scenic trails.  If you’re headed north, you’ll come across Red Hook, another charming town that is home to another one of our branches.  If you are headed West, you will come across the Ashokan Reservoir, part of the Catskill Forest Preserve, and Woodstock, a very unique town that has a lot to offer, from locally-owned stores, even more restaurants and a music and cultural scene that is one of a kind!   

We know that making a bank visit is not always an exciting thought, but hopefully we’ve given you other activities to fill your day and you’ll be a little more excited to get out and explore the Hudson Valley! 

Rhinebeck Bank Staff

Blog Divider - DecorativeHow to save this Valentine's Day! 

February 12, 2019

As I am sure most of you are aware, Valentine’s Day can get expensive, but we are here to help you save some money with some tips and tricks for this upcoming holiday.   When one thinks of Valentine’s Day, they usually think of flowers, jewelry and chocolates, but with a little creativity (and our help), there are several thoughtful alternatives to show your loved ones you still care by breaking the mold and not your bank account. 
 1.     The first way to save is with a home-cooked meal.  Instead of going out to a romantic restaurant, bring the romance right into your own home with a well-thought out dinner for your significant other.  This is not only more cost-effective,  it also adds a more personal touch.  And if you have kids, see if you can grab a trusted neighbor, relative or local student to watch them for the night.

2.     Take advantage of the free activities that are offered in your local town.  This varies for different areas, but with a little sleuthing, you are almost guaranteed to find freebies or cheap activities to entertain  yourselves.

3.      Another option is DIY, Do It Yourself!  This can range from making their card instead of buying it, a scrapbook of memories that you both share, or an I OWE YOU booklet.  Some examples of IOUs can be doing the laundry, dishes, making dinner, watching the kids, massage, etc. (BE CREATIVE!)

4.    Taking a class together.  This one can be a little more expensive, but depending on the class, you can come out of it with your gift, such as a pottery class, a painting class, etc.  Not only are you making your gift, you’re making it with your significant other and the price of the gift is included in the activity!   What could be better than that?  Another fun class is a cooking class, and with that, you avoid a meal because you’ll get to eat what you make!

5.      Plan a weekend getaway, but for a later date so you are avoiding peak prices.  With so many app options for housing. A, you can find a place to stay in almost any city for a low cost.  This is both thoughtful and something that can be done together, making it all the more special. 

6.     Avoid online shopping.  If you are planning on buying a gift, make sure to make the trip into the store and you can save on shipping costs, and you are also supporting local businesses, which is always a plus.  And in most cases you should be able to find some good deals, ones that would not be offered online, and the gift is most likely to be more unique from a local store than relying on a large online retailer or department store website. 

 These are just a few of the many ways  to save this Valentines day. One of the key takealways is to focus on the thoughtfulness of the gift, not the price.  As the age-old saying goes, it’s the thought that counts.   

Rhinebeck Bank Staff

Blog Divider - DecorativeWinter Activities in the Hudson Valley! 

December 5, 2018

When living in such a gorgeous location like the Hudson Valley, you should always take some time to enjoy the scenery and get involved with some fun activities for every season. Now that winter’s here, it’s time to go out, enjoy the snow, and get into some holiday activities!

With the holidays coming up and you’re looking for an evergreen tree, there are plenty of places all around. Here’s a list of some tree farms to help you pick the perfect one!

            Battenfeld’s Christmas Tree Farm – Red Hook

            Saltsman Tree Farm – Rhinebeck

            Solvang Tree Farm – Poughkeepsie

            Emmerich Tree Farm – Warwick

            Bell’s Christmas Trees – Accord

When you’re looking for something to do this winter to get out and enjoy all the snow, you may want to check out some of these great local hiking spots:

            Hudson Highlands State Park Preserve – Arden Point and Glenclyffe

            Sterling Forest State Park – Townsend Trail and Long Meadow Extension Loop

            Mohonk Preserve – Undercliff/Overcliff Carriage Roads

            Catskills – Giant’s Ledge

            Minnewaska State park Preserve – Carriage Roads

If you enjoy downhill skiing or snowboarding, or even if you want to try and start, here are some great locations you might want to try out:

            Windham Mountain Resort

            Hunter Mountain


 And if you’re looking for big name locations, here are two which are worth a bit of a trek to visit:

            Killington – 176 miles from Poughkeepsie

            Whiteface Mountain – 216 miles from Poughkeepsie

Also, be sure to visit Rhinebeck’s annual Sinterklaas Festival and The Gay family’s home in LaGrangeville who currently hold the Guinness World Record for most lights on a residential property! Then, when you want to stay warm, there’s a mile long lights display in Goshen on Scotchtown Road you can enjoy from the comfort of your car. After a nice long cold day, it’s always great to get cozy at home and watch a movie. Here’s a list of some of the top holiday movies of all time according to ABC news[1], so you don’t necessarily have to go searching for a movie for half an hour:

            6. ‘Elf’

            5. ‘Home Alone’

            4. ‘A Christmas Story’

            3. ‘National Lampoon’s Christmas Vacation’

            2: ‘Scrooge’

1: ‘Scrooged’

[1] Williams, Angela. “Top 10 Holiday Movies of All Time.” ABC News, ABC News Network, 25 Nov. 2016,

Rhinebeck Bank Staff

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Tips To Avoid Holiday Debt This Year 

November 27, 2018

Black Friday.  Small Business Saturday.  Cyber Monday.

That screaming you hear may just be coming from your wallet after what is traditionally the biggest shopping period of the year.  While it certainly does make you feel good to get the perfect gifts for those you love during the holidays, it’s important that you manage your debt this time of year so that you don’t experience the post-holiday shopping blues.

For those of us that still have gifts to purchase, it’s not too late to come up with a plan to avoid racking up enormous debt during this time of year.  Here are some great tips to help you make this holiday season one to remember:

  • Create a budget:  Before hitting the road (or going online), take a look at your savings and figure out what you’d like to spend on those special people in your life.  While it may be difficult, it’s critical that you stay within your budget.
  • Save money with a gift exchange:  Whether you come from a larger family or have a number of friends that you usually feel obligated to buy for, a gift exchange may a good way to save some money.  This is a great way to focus your spending on one person out of the group, instead of buying smaller gifts for each member of your family or group of friends.*

  • Shop with cash:  If you’re afraid that having your credit cards available will entice you to go over that all-important budget we talked about earlier, you may want to consider shopping with cash and leave your credit card(s) at home!  “Not only that, but each time you head out to a given store, take only enough money with you to cover the items you’re planning on buying.  After all, you can’t overspend if you don’t have a way of paying for extras.”**

  • Pace yourself:  If you’re a last-minute shopper, there’s a chance you may over-extend your shopping budget during that sale-hopping frenzy period.  Try something different this year – do a little bit of shopping each week as we get closer to the holidays.  This more methodical approach can help you stick to your budget and not experience any of the anxiety that comes with last-minute shopping.

We hope that these tips can help you get through the holidays without a mountain of debt and the anxiety that comes with it.  A “quiet” wallet sure would be a great thing to have as you start the New Year, right? 

*Jian Lee, Deborah.  2014, November 26.  Forbes

**Backman, Maurie.  2018, November 18.  The Motley Fool

Patrick Hickey

Marketing and Communications Coordinator 


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Black Friday? How About Small Business Saturday! 

November 20, 2018

Here we are again! The holiday season is upon us, and for most of us that means family, food, and shopping! And quite a lot of it. It seems that each year those Black Friday special deals are promoted earlier and earlier, so much so that you can’t even keep track of when to get what.

As much as I am an avid Black Friday shopper, I have recently found more enjoyment (and money savings) in Small Business Saturday. In just eight short years, this day has become an American shopping tradition. Well-known credit card company American Express® kicked off Small Business Saturday back in 2010 and has invested greatly towards its success, turning the day into a game-changer for small, local businesses during the holiday season. Here are some quick reasons to shop local this bargaining season!

  •  Personal Experience- Shopping local creates a more fun, personable experience. Business owners are usually directly connected to every employee and know the business as much as running it. You can usually sample or try on items prior to purchases. Who doesn’t love a great time?
  • Embraces Your Community- What else gives your community its flare - other than each individual business that occupies it? You can get food or drinks from chain restaurants all across America, but there is NOWHERE else you can get that signature coffee from the mom-and-pop shop down the street. Or more importantly for my fashionistas - that blouse is one of a kind!
  • Improve Your Local Economy- When you purchase local, a significantly larger amount of money stays in your community. A study has showed that for every $100 dollars spent at a local business, $68 dollars remained in the city, while only $43 remained from a chained retailer.*

At Rhinebeck Bank, we strongly support our customers and all local business in the Hudson Valley. We eat, drink, shop, and conduct business locally everyday, all year. On this special shopping day, we encourage everyone to enjoy their Saturday supporting their neighbors and experiencing what we already know- how amazing the Hudson Valley truly is!

For special deals and promotions happening in your community, visit the following chamber of commerce sites!

Dutchess County-

Orange County-

Ulster County-

* (2015). » The Multiplier Effect of Local Independent Businesses. Retrieved 2018, from

Stefania Riccitelli
Digital Marketing Coordinator

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How Much Do You Know About Your Credit Score? 

November 16, 2018

Establishing and building credit are very important parts of one’s financial well-being. A solid credit history, among other things, is an important factor that is usually considered when a consumer is applying to borrow money. Credit scores and your credit history can impact your ability to borrow money in a number of ways, including when buying a car, opening a line of credit, buying a home, and so on. What exactly impacts your credit? According to credit bureau Experian, there are 5 key factors to consider:

  • Payment history:  35% impact on total score. Your payment history includes both secured and unsecured accounts, and may include, but is not limited to, a mortgage or car loan (secured - with collateral), personal loans, credit cards, utility bills, or medical bills (unsecured – nothing for the creditor to take possession of if you, the borrower, don’t make payments). Late or missed payments can negatively impact this portion of your credit score. If you’re delinquent on a payment by more than 30 days, this will impact your credit.
  • Amounts owed vs credit limits: 30% impact on total score. Part of your credit score is based on how much you currently owe in comparison to your total credit limits. As a rule of thumb, using 30% or less of your available credit is generally recommended. For instance, if your credit limits total $15,000, an ideal credit utilization would be $4,500 or less. Your credit score can potentially increase as you pay down debt and lower your utilization rate.
  • Length of credit history: 15% impact on total score. Creditors will assess how long you have had accounts open and also consider the average age of your lines of credit. It’s generally better to have a history with accounts that are open longer. This can negatively impact younger potential borrowers who have a shorter credit history, but it can improve over time as the accounts build history.
  • Types of credit: 10% impact on total score. Your credit score is impacted not just by balances, but also by the types of credit that you have. Scoring takes into consideration whether you have different types of credit or just one type, such as a single credit card. Generally, it’s good to diversify and have different types of credit lines that help build your score, but be sure not to extend yourself beyond your financial means. Please speak to a trusted, reputable financial professional if you have questions about types of credit.
  • Inquiries: 10% impact on total score. There are two types of credit inquiries – “hard” and “soft”.  An example of a “hard” inquiry would be when a potential creditor pulls your credit history from a credit bureau, including the three most recognized ones - Experian, Equifax, and TransUnion. These “hard” inquiries will be reflected in your credit score. When someone checks their own credit history or a creditor sends someone a pre-screened offer, those are examples of a “soft” inquiry.  These “soft” inquiries do not affect your credit in the same manner. The older that “hard” inquiries are, the less of an impact this will have on your score over time. If you recently applied for credit, it’s always good to check your score and make sure you don’t have too many other inquiries in the same span of time.  For details about “hard” and “soft” inquiries, please refer to the aforementioned credit bureaus’ websites or other reputable online resources.

There are 5 tiers of creditworthiness, with scores ranging from 300-850 based on the combination of the above factors. Learn more about what each credit tier means by checking out Experian’s guide at Please note that creditworthiness can change over time, based on consumer behavior. For ways to improve your score, visit:

Also, remember that consumers are entitled to 1 free copy of their credit report per year from each of the 3 major credit bureaus. Click here to request yours today!

For more information about the three major credit bureaus – Experian, Equifax and TransUnion, please visit their websites.  Rhinebeck Bank.  Member FDIC. 

Amanda Diamond

Retail/Marketing Coordinator 


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 Thinking it's Time to Grow?

November 6, 2018 

We have all heard it many times - to make money, you need to spend money. Like many small businesses, you might be finding yourself at the point where you find it necessary to borrow to continue to grow. Are you looking to purchase new equipment to increase inventory? Are you in need of a new or bigger commercial vehicle?  When it comes to growth or borrowing funds, one of they key components to making it a beneficial business decision is timing.

Expanding your business for the right reasons at the right time is important in order to take its success to a new level. Here are a few signs that will tell you if your business is ready to undertake a business loan obligation:  

  • Financially Secure - It may seem obvious, but if your business is tight on cash, that is not the time to be looking into loans. Creating more financial obligations could do more harm that good. When a business is in a financially stable state, showing positive revenue growth and good prospects for future business, you may be in a better position to withstand additional debt (repayment of your loan). One critical aspect of your overall financial outlook that will be considered by possible lenders is your Credit Report. You will want to be sure that your credit report is complete and accurate.
  •  Business Plan - Before looking into any business loans, you must have a solid business plan. What does that mean exactly? Your plan should lay out where all money will be utilized, projection of your growth opportunities, and anticipated timing regarding use of loan funds. A comprehensive business plan forecasts when the invested money is expected to result in increased revenue and other growth measurable.
  •  Opportunity Presents Itself - Maybe at this point in your business, a larger-scaled project is presenting itself, or you have just received opportunity to differentiate inventory or services. You still need your current cash flow to cover the day-to-day expenses, so a business loan could allow you to take advantage of this new opportunity and lead to greater growth potential in the future.

These key signs are just viewing a business at the surface. Many different businesses need and utilize different business loans for different reasons. At Rhinebeck Bank, we offer an array of loans to support the individual customers we work with. From lines of credit, our Express Business Loans, to commercial mortgages, we will work with you to see if a loan is the best option, and if so, which one will help you grow your business reach its fullest potential.

To speak to a Rhinebeck Bank loan officer, please call us at 845-454-8555 or find a branch near you!

(Member FDIC, All loans subject to credit approval.)

Michelle Barone-Lepore

SVP, Marketing

Michelle Barone-Lepore - Headshot

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What Makes Working at Rhinebeck Bank Different!

October 30, 2018

About a week ago, I had the opportunity to help our Human Resource Department at a local college career fair for students. With the original expectation that conversations would be geared around salary ranges, scheduling, or benefits, I was quite surprised to find out that they were actually more often centered around students being “just curious” because they were not sure what they wanted to do upon graduation, or asking me “Well, why do you like to work at Rhinebeck Bank?” It was at that point I recalled talking to Rhinebeck Bank at the start of my own career, also being introduced at a college fair and thinking the very same thing - younger adults do not know exactly what they want.

Searching for the best, honest answer to these questions, I recalled something I once read - “Working hard for something you don’t care about is called stress; working hard for something you love is called passion.” The truth is that this has become one of the most influential statements for my career at Rhinebeck Bank (even if it’s only two years strong).

The ability to work within a local community; knowing I am making an impact on both macro and micro levels, one day at a time. The opportunity to be a part of an organization that takes pride in the growth of the surrounding area, rather than solely capitalizing on it.- Those realizations have become a few key responses to my “What do you love about working at Rhinebeck Bank?”  If you were to speak to many of the other employees that work here at the Bank, I can assure you the responses would vary tremendously.

I’m more than happy to explain how Rhinebeck Bank offers competitive salaries, benefits, or work-life balance that allows me to enjoy my personal time, but the hard truth is simple - many companies do. It’s finding a compatible culture that works collaboratively towards both a company’s growth and the growth of each individual employee during their Rhinebeck Bank career. The most important thing to discover is what the difference is at Rhinebeck Bank:

  •   A Goal Setting Environment
  •   Development Plans
  •   Guidance and Coaching

These three influential components of Rhinebeck Bank’s work culture are what have continuously allowed me and many others to continue to grow throughout the organization. At Rhinebeck Bank, you get a chance to discover your strengths, improve upon your weaknesses, and work towards cultivating yourself professionally through the many opportunities provided, including things like mentor programs, job shares and shadowing opportunities.

If you are a motivated individual looking to not only have a job, but a rewarding, meaningful career visit:

Stefania Riccitelli
Digital Marketing Coordinator

Blog Divider - DecorativeWhy should your business have Merchant Services? 

Oct 25, 2018

Having Merchant Services allows your business to accept customer debit and credit card payments (including Visa®, MasterCard®, American Express®, etc) at point of sale transactions. With debit and credit cards being a major spending preference among customers today, there are several benefits to consider:

Increased Customer Satisfaction: Today’s consumer enjoys freedom and flexibility more than ever. Providing your customers with several options of accepted payment, including credit cards and debit cards – not just checks, cash, or gift cards -  gives them more control over how they spend their money, as well as increased satisfaction. There’s also a convenience factor; if your customer forgot their cash at home, offering Merchant Services at your business allows them to make a purchase right away without leaving your establishment to visit an ATM. “Cash only” establishments could potentially lose business when customers only have their debit or credit card on them and choose to seek services elsewhere as a result.

Potentially more sales? Many studies have found that consumers spend more when given the option to use cards over cash. Additionally, research from Community Merchants USA noted that in a recent survey, 83% of small businesses that began accepting credit cards saw an increase in sales. Having Merchant Services could potentially help your bottom line while also adding customer convenience! ( )

Your business’ online presence: People are relying on the Internet more and more to do their shopping. Without the ability to accept debit card and credit card payments, you might be missing out on part of your market if your business industry warrants online commerce. Having Merchant Services and receiving payments online allows your business to stay competitive while reaching customers who aren’t visiting retail stores.

Avoid certain types of fraud? By using or accepting electronic payments with Merchant Services, your business can avoid the hassle and costs associated with bounced checks or counterfeit currency.

Like what you’re hearing and interested in learning more about our Merchant Services?  Click here  for more information!  Speak to one of our Business Banking Officers today!


Rhinebeck Bank, Member FDIC.

Amanda Diamond

Retail/Marketing Coordinator 


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Generations & Their Banking 

October 16, 2018

When it comes to how people prefer to use, or not use, the latest banking technology, there are well-worn stereotypes out there based on your age and what generation label comes with that age.  For example, seniors (i.e.: the “Greatest Generation” - born in the early 20th Century) avoid technology and prefers going to their local bank branch to conduct transactions or for advice.  Baby Boomers are willing to try technology, but still prefer to use branches when possible.  Generation X is rather tech-savvy – they enjoy the convenience of online banking, for example.  Millennials and “Gen Z”, who were born into a world of instant access and on-the-go information (courtesy of smartphones), prefer banks that have a robust mobile app over having to conduct business via a bank branch.

Research has proven some of these stereotypes to hold true, while others have been crushed altogether.  Here are some ways that banking technology can be used to make your financial life easier and more manageable, regardless of your age:

·         If you’re a Baby Boomer who may still prefer going to a branch, trying a mobile app may free you from making unnecessary car trips, waiting in lines at the bank and more!  From reviewing account balances and checking your transaction history to paying bills and depositing checks, our Mobile Banking App puts control of your finances (literally) in the palm of your hand!

·         For seniors that may have physical or transportation limitations that prevent them from getting to their local bank branch as often as they used to, but still want to have access to their account records and conduct basic transactions, Online Banking gives them a secure, easy-to-access means to maintain control of their finances and do so from the comfort of their home.  That includes such things as paying their bills online, getting their statements electronically, reordering checks and more!

·         For Millennials and younger mobile banking users, we understand that every minute counts – we think so too!  If you’re an Apple®* device user, a product like Touch ID®* can save you time by using your fingerprint to log into Rhinebeck Bank Mobile Banking.  This sort of biometric authentication process also provides greater security as well!

·         Those of us that fall into the Generation X category, especially those with children and young adults at home, may have already embraced technology when it comes to their banking, but need to gain a little more control over family spending, may find something like SecurLOCK™ mobile app valuable.  It’s also another great tool to help prevent fraud related to your accounts!

As you can see, today’s banking technology can address a number of different needs that customers of all different ages may have throughout their lives.  We welcome you to stop by your local Rhinebeck Bank branch or visit our website to learn more about the technology we offer our personal and business customers and be on the lookout for future announcements regarding new tech-related products and services

*Apple and Touch ID are trademarks of Apple, Inc., registered in the United States and other countries.

Patrick Hickey

Marketing and Communications Coordinator

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Protect Yourself Online This Month & Every Month!

October 10, 2018

The internet can be a great asset, but can also leave you vulnerable to identify theft, fraud, and other scams. It is important to always be aware of the ways to be safe and secure online, and we have five quick, easy tips that are essential to follow and can make all the difference!

Tip #1 Always Keep Software up to date

            Keeping your systems on automatic updates is a simple and easy way to help keep yourself protected without having to think about it. Updates are critical to operating systems, browser plug-ins  and firewalls

Tip #2 Ride on the Side of Caution

            Phishing scams are a constant threat-cyber criminals are always trying to trick individuals to divulge personal or corporate information, login credentials, and much more. Through email, phone, text, or social networking; if you were not expecting it, be weary of it! Avoid clicking link or attachments in these emails or texts, and never reply with personal information without verifying the source

Tip#3 Passwords Matter

            We know you have too many passwords to manage, and it is easier to reuse the same one. Password management is crucial in online safety and should not be taken lightly.

·         Use long passwords- 20 characters

·         Strong mix of characters

·         Never share or write passwords down

·         Passwords should be changed every 90 days.

      Tip # 4 Never Leave One to Their Own Devices

            If you are not on it- LOCK IT! When walking away from a laptop, tablet, or phone for any amount of time, be sure to lock it so no one else can access your information. If you save sensitive information to flash drives or external hard drives, make sure to keep them with you at all times.

Tip #5 Never Say Never

            You are a target to hackers. Never say “It can’t happen to me” Living in a technological era, we are all at risk and stakes are high when it comes to cyber security. Always be sure to follow tips, security, and remain vigilant on doing your part to keep yourself secure!

Stefania Riccitelli
Digital Marketing Coordinator

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Why Fall is the Perfect Time for Home Buying! 

Oct 2, 2018

Cooler weather, beautiful changing leaves, and hiking season at its peak makes fall a perfect time to be in the Hudson Valley. This is also one of the best times to purchase a new home!  Rhinebeck Bank has the Best Reasons to buy your home this season.

·         Motivated Sellers

o    Just as purchasing a home is an extensive process; selling one can be as well. Most sellers do not want to enter the holiday season with interruptions and the selling process on their mind. It is not uncommon for homeowners that have not sold by the fall to wait until the following spring. With this being said, sellers are worn out and may be more willing to negotiate and expedite the closing and move-in process. 

·         Leftover Inventory

o    With sellers tending to put homes on the market during peak season, homes are listed at peak rates, which could mean a series of price reductions leading up to the fall. This allows you to possibly be in a position to a find home that could be listed much lower than originally and sometimes lower than the market value.

·         Year-End Tax Credits*

o    Even if you closed on the last day of the year, you may be able to apply the property taxes paid othe home purchase to offset income for the year. This could have a positive effect fro you the tax season the following year.

·          Less Competition

o    Competition for homes typically drops in the fall, as many individuals consider the spring and summer months as prime season for real estate purchases. The repositioned inventory, which may not have sold in the peak months, allows for more time to shop around. This creates less likelihood for you to enter a bidding war.  Not to mention, with the summer being a real estate agent’s busiest time with many clients, the fall allows for more centralized attention.

·         Holiday Bargains on Home Improvements

o    Buying a new house is an exciting time in your  life and many people are eager to jump into making it their own home. With the holidays following the fall season, it is a great time to take advantage of deals from home improvement retailers on a variety of homeowner needs like appliances, tools, and even home décor.

*Please consult your tax advisor regarding your property tax credit eligibility.


Rhinebeck Bank.  Member FDIC.  Equal Housing Lender.

Vincent Aurigemma

 VP, Residential Lending

Vince Aruigemma Headshot

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First Friday's San Gennaro

September 25, 2018 

Almost everyone I know enjoys a delicious chicken cutlet, some pasta with meatballs and fried dough. What do all of these items have in common? They will be featured at First Friday Poughkeepsie’s San Gennaro event at Dongan Square Park on October 5th.

This is First Friday’s last event for the 2018 season and the committee is bringing you the best Poughkeepsie has to offer. I am 2018’s co-chair, along with Amanda Baxter, President of R.L. Baxter Building Corporation, and we are proud to bring you over 50 vendors in the “Little Italy” section of our Queen City.

Local restaurants such as Rossi’s Deli, Cosimo’s of Poughkeepsie, and Coppola’s at Liberty and Main will be there serving your favorite Italian dishes. Other local establishments, such as Heritage Food & Drink, Schatzi’s, and many others will be serving their favorites as well!

Performers such as Bosco and The Storm and The Midnite Image Band will sing and dance the night away. A special performance by Roberto Millanese will feature some Italian classics. Kayla Rae and Racheal Hendrix will sing some of your favorite hits.

Love cannolis? You can enter our 2nd annual cannoli eating contest! There will also be a Halloween Costume Contest for all ages.

From delicious Italian inspired food, to incredible entertainment and games for the whole family, First Friday Poughkeepsie is sure to have something for everyone. The First Friday Poughkeepsie Facebook page has been building up with over 2,500 people interested in attending the event - our local area is excited to attend!

If you’re a vendor interested in attending First Friday Poughkeepsie, go to and fill out the vendor application form.

Join us at First Friday Poughkeepsie on October 5th! We can’t wait to see you there!

Remember when talking about First Friday on your social media, please use #FirstFridayPK #PKGO

To find our more visit,



(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

Michelle Barone-Lepore - Headshot

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Cash vs. Card 

September 18, 2018

What’s your spending preference, cash or debit card? There are positives to using both:

With a debit card, there is the convenience of having transaction records that are tied to your checking account. Your bank can provide these to you through electronic statements (estatements) paper statements, or online banking. (Find information on our services here:  You can always make mental notes who and where you pay with cash or maintain your own transaction records, but your bank will only have record of your initial cash withdrawal. For those who like to have electronic history of their purchases without the hassle of balancing a checkbook, debit cards can be the way to go. It’s also worth noting that debit cards are essential for online purchases, such as booking a flight or hotel reservation. Furthermore, debit cards give spenders the purchasing ability without carrying around cash or change, which can be bulky in a wallet. Some spenders prefer to never visit the ATM and use their debit card for nearly all purchases.

On the other hand, cash helps people budget when they need to make purchases. When tangibly holding money, spenders can feel less inclined to use it as often, which is helpful. Cash can also be the preferred spending method when traveling. Some spenders don’t want to deal with the hassle of putting a travel alert on their account or having to use their debit card away from home. Additionally cash can be preferred if spenders don’t want to reveal personal information when making a purchase at a store with a debit card, but it’s worth noting that there are other electronic payment options. (Phone applications Apple Pay®* and Google Wallet® aim to provide more security when paying with a debit card; card information is securely stored on your phone – ).

Both methods of payment have the benefit of preventing spenders from accumulating debt. Unlike credit cards, both debit cards and cash only allow you to spend what’s in your bank account at that moment. Though spenders often prefer to have a credit card for emergencies, debit cards and cash can help spenders budget while being mindful of everyday purchases and what they really have to spend right now without paying back later.

What’s your spending preference, cash or card? Stay tuned to our Facebook page for a rewarding chance to let us know!

(Member FDIC)

*Apple, the Apple logo, iPhone and Apple Watch are trademarks of Apple Inc., registered in the U.S. and other countries.

Rhinebeck Bank does not solely endorse one spending preference over another listed above. 

Amanda Diamond

Retail/Marketing Coordinator

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Jump into Fall in the Hudson Valley!

September 11, 2018

While we still want to get every ounce of summertime fun we can, it’s not too early to look ahead to fall, a time of year that really allows the Hudson Valley to shine in all its splendor!  If you’re looking for something to do or see this fall, we’ve got five (5) great ideas you may enjoy!

·         Get out and run or ride!  There’s no better way to enjoy the amazing fall foliage here than taking a bike ride in and around the Hudson Valley!  Check out the Hudson Valley Rail Trail, a 12-foot wide, asphalt rail trail that connects the Highland (Ulster County) side of the Walkway Over the Hudson to the 13-mile Dutchess County Rail Trail, offering a nearly 18-mile cycling/running path!

·         Go apple or pumpkin picking!  The Hudson Valley is known far and wide for its bountiful apple harvests each fall!  Dutchess County has numerous orchards for you to choose from – can you smell the warm cider donuts and taste those apples already?  If all things pumpkin are more to your liking, enjoy a hay ride at any one of the many local pumpkin farms and pick out your own favorite pumpkin! 

·        Enjoy some Army West Point football!  If you’re a fan of football (an even if you’re not), there’s nothing like watching the Black Knights of Army West Point take it to the gridiron at Michie Stadium!  Visit their website to learn more about this tradition-rich football program or click here to purchase your tickets for an upcoming home game!

·       There’s history right in our backyard!  If you are, or know someone who is, a history buff, the fall is a perfect time to enjoy the wealth of historical museums and landmarks that dot the Hudson Valley landscape!  From the Burning of Kingston commemoration to the many great museums in Dutchess County to numerous historic houses that can be found in Orange County, you can enjoy “getting to know” the place we call home!

·         Get your scream on!  As beautiful as it is here in the Hudson Valley, it can also be very, very scary when it wants to be, especially as Halloween approaches.  If you enjoy getting chills down your spine, we’ve got lots of places here to make that happen.  Here are some creepy spots that may be of interest:

o    Headless Horseman Hayrides & Haunted House (Ulster Park – Ulster County)

o    The Barn of Terror (Lake Katrine – Ulster County)

o    Kevin McCurdy’s Haunted Mansion (Wappingers Falls – Dutchess County)

o    Pure Terror Scream Park (Monroe – Orange County)

 Looking for more?  The Dutchess County, Ulster County and Orange County tourism departments have fantastic websites that can lead you to your next great adventure, meal or more!  Check them out today and enjoy your time here in the Hudson Valley!

Patrick Hickey

Marketing and Communications Coordinator

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3 Tips to Knowing the Home Buying Process

August 28, 2018

My husband and I recently started looking for a home. It’s a great learning experience whether you’re buying a first home or a new home!

Here’s some of what we’ve learned thus far:

Make sure your credit report doesn’t contain any inaccurate information that might hinder the home buying process, not to mention your overall creditworthiness. You’re entitled to 1 free credit report from each of the 3 credit bureaus per year (Experian, TransUnion, and Equifax), and can request copies  by visiting

Don’t assume that just because you don’t have perfect credit or don’t have a large down payment that you can’t buy a home.  There are many different loan products out there and they have different qualification requirements.   Speak to your Residential Mortgage Lender to see what your options are and to receive more information on credit and down payment options. Remember Rhinebeck Bank is ready to help! For more information on the loan options we offer, visit Visit for more information on our lenders.

Preapprovals generally expire after 90 days. This gives you a time frame to start looking for a home! (If you’re still looking for a home after the expiration, speak to your lender and realtor following the 90 days and find out what the next step is.) Please speak with a Residential Mortgage Lender for more information on preapprovals.

Home buying in the Hudson Valley is currently competitive for buyers, but not impossible! Make sure you partner with a great lender and realtor that you can trust, and that you make a strong offer if there’s a home that you really want. Best of luck finding your first or new home!


Rhinebeck Bank, Member FDIC, Equal Housing Lender. All preapprovals and loans subject to credit approval. NMLS 477976.

Amanda Diamond

Retail/Marketing Coordinator

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Rhinebeck Bank Tips for Saving Money this Fall Semester

August 14, 2018

In our very own back yard, the Hudson Valley is a melting pot of different universities and colleges with students from near and far who will beginning classes in just a few short weeks! Learn how to build your bank account this semester with a few simple, yet effective tips, courtesy of Rhinebeck Bank! We can show you how to make the most of campus activities, supplies, and food spending!

1.     Books: Instead of purchasing those $200+ textbooks, look into renting textbooks for the semester or utilizing your school’s library. Study with the same materials at no additional cost!

2.     Meal Plans: Dollars allocated for dining are usually not meant just for food. Additional funds could be used for other necessities, such as toiletries. If you’re not sure how the funding works at your school, be sure to ask your student accounts office!

3.     Coffee Stops: With all the studying, we know you are going to need a caffeine fix.  Skip the drive-through and stay a while. Many coffee shops offer free refills and Wi-Fi. Get your studying done with all the coffee you need!

4.     Scholarships: You miss 100% of the shots you don’t take! In many cases, a $500 scholarship only requires as simple essay for submissions.

5.     Student Activities: College campuses are always sponsoring different student events, which normally are free or only cost a cheap fee. They’re a great way to have fun, socialize, and save.

6.     Work/ Work Study: Look into part-time jobs during school that offer great benefits, such as a gym membership, or look into the work study program at your school which you can use to cover room and board or some tuition.

7.     Take Advantage of Discounts: Many local businesses and organizations will have student discounts for subscriptions, movie tickets, food, or clothing! Typically, all you need to show is a student I.D and you can usually save anywhere from 10-15% off.

8.     Transportation: Save on gas by utilizing your campus shuttle to make that grocery store or pharmacy run.

9.     Loan Interest: Start paying off your student loans ASAP. Paying even the minimum payment can still help you prevent your compound interest from accumulating.

10.  Open a Savings Account: A savings account gives you a place to deposit income from home, work, or scholarships and loans. This will keep your money in a secure place and even help you budget better!

Regardless of whether you  are entering college for the first semester or preparing to be a senior, there are countless ways to save some money this year! If you would like to start saving those dollars, let Rhinebeck Bank help you with getting you started on your savings account!


Stefania Riccitelli
Digital Marketing Coordinator

Blog Divider - DecorativeHow Non-Profit Makes a Difference!

August 7, 2018

They help those that may not be able to help themselves.  Whether its related to human services, education, housing, economic development, or any other number of worthwhile causes, nonprofits advocate on behalf of them in the hopes of improving communities throughout the Hudson Valley and beyond.  These include public and private organizations, chambers of commerce and numerous other civic entities.

Here are some interesting facts about nonprofits:

·         According to the National Center for Charitable Statistics (NCCS), there are over 1.5 million nonprofits registered in the United States.1

·         Nonprofits employ an enormous amount of people in the United States – they currently rank 3rd in workforce size among the 18 major U.S. industries.2

·        Americans gave over $410 billion to charitable organizations in 2017.3

As you can see, nonprofits play a significant role in people’s lives throughout the nation.  When you take a look at the local level, those trends continue in a big way!  Did you know that there are nearly 120 nonprofit organizations that are members of the Dutchess County Regional Chamber of Commerce?  These groups offer a myriad of support services to people and families in need, and do so with relatively little fanfare. 

At Rhinebeck Bank, we are encouraged to actively participate in charitable causes and community organizations in which they believe.  Many of us volunteer, including service as board members for nonprofit organizations, each year.  As an organization, we try to assist local nonprofits whenever possible, including through our Community Sponsorship Program and our Community Checking Account, an account designed exclusively for nonprofit organizations.

A day doesn’t go by without seeing or hearing about someone else going through a difficult time and in need of support in some way, shape or form.  We’re blessed to have so many people in our community that are willing to take up a cause for that person, family or group in need.  These amazing volunteers are living up to Winston Churchill’s famous quote – “We make a living by what we get, but we make a life by what we give.”  It’s yet another reason why we’re proud to be your community bank!

(Member FDIC)

1 Statistical data provided courtesy of website -

2 Statistical data provided courtesy of GuideStar website -

3 Statistical data provided courtesy of Charity Navigator website -

Patrick Hickey

Marketing and Communications Coordinator


Blog Divider - Decorative3 Things You May Not Know About Rhinebeck Bank!

July 17, 2018

At Rhinebeck Bank, we’re thrilled to be Your Community Bank!  We’re your local neighbors and friends who pride ourselves in serving you right in the area where we all live. Working for a community bank has so many benefits, including seeing our customers and small businesses in the Hudson Valley prosper firsthand! Constantly growing, Rhinebeck Bank is personally tied to the community; and with our growth we always strive to provide you with outstanding personal customer service combined with today’s advances in banking! You may have heard about us and what we have to offer, but here are a few things that you may not know about Rhinebeck Bank:

We’re headquartered in Poughkeepsie

Our Corporate Offices are located right by the Mid Hudson Bridge in Poughkeepsie! We’re proud to remain incorporated locally in the Hudson Valley, which is the same region where Rhinebeck Bank was founded back in 1860. With corporate offices and branch locations in the same geographic area, we’re able to streamline communication and provide efficient service. You can benefit from a Community Bank because all decisions are made locally. If you need something taken care of, it’s done right here!

We’re now in Orange County!

That’s right, we’ve expanded! In May 2016, we opened our first Orange County branch location in Goshen, NY. In March 2017, we also established an additional Representative Office in Montgomery, NY for Residential Lending and Commercial Lending customer needs by appointment. Rhinebeck Bank has 11 branch locations throughout Dutchess, Orange, and Ulster Counties, including Arlington, Beacon, East Fishkill, Fishkill, Goshen, Hyde Park, Kingston, Mid Hudson (Poughkeepsie), Red Hook, Rhinebeck, and South Road (Poughkeepsie). We’re always aiming to provide you, our customers, with the best service possible, and we’re ecstatic that you can find us across both sides of the Hudson River!

We’re a sponsor of First Friday Poughkeepsie.

Rhinebeck Bank is dedicated to giving back to our community by supporting local charities and organizations. In 2017, we became one of the 3 main business sponsors of First Friday Poughkeepsie! First Friday is a monthly celebration of Poughkeepsie's cultural, dining and entertainment offerings. Past First Friday events include a car show, country themed barbecue, fireworks, Cinco de Mayo, holiday tree lighting, and so much more. Our goal is to give back while also providing a fun time for our community. These events bring about 1,500 people to the city of Poughkeepsie each month, and with sponsors like us, everyone can attend and enjoy the fun for free!

Amanda Diamond

Retail/Marketing Coordinator


Blog Divider - DecorativeBanking at the Touch of Your Finger! 

July 10, 2018

Can you really sign into your mobile Banking App with your finger?

The answer is YES!

You can do all of your banking with a simple touch of your finger on your Rhinebeck Bank mobile App.

Touch ID now allows you to access your account information quicker and easier. With technology at a constant developing rate, this fingerprint recognition is one of the many new conveniences to the banking industry.

All you need to do is put your finger over your home button, and within seconds your app can recognize it and log you in! No more typing a username or remembering a password. Simply login into your Rhinebeck Bank Mobile App, enable Touch ID and start making your life easier.

Here are the benefits:

  •          Convenient, faster access to financial information
  •          Improved experience for simple transactions
  •          Secure accessing


Download the mobile app and sign in using Touch ID today! 

(Member FDIC)

Stefania Riccitelli

Digital Marketing Coordinator


Blog Divider - DecorativeHow to Make the Most of Summer Travel

July 3, 2018

It’s hard to believe another school year is at an end; summer has finally arrived!  Who wants to worry about finances and banking when you can be lying on the beach or hanging out at the lake house?  We’ve got some great tips to help make your summer vacation a breeze:

Call your bank to place a travel alert on your card. Your bank’s fraud detection service is a wonderful resource to protect your money, but it will be a huge source of frustration if your card is blocked when you stop for gas and drinks on the interstate.  Be sure to tell your bank a few days before you leave, where you will be traveling and when so your card is less likely to be declined for possible fraudulent activity. 

Update your contact information with your bank.Does your bank have your current cell phone number? Will you be staying in one area for an extended period of time and need your account statements sent there?  Did you know that your bank statements may not forward to a seasonal address? Your bank should have up-to-date contact information on file to make it easy to keep in touch with you in case there are any questions or concerns about your account while you are away.

Schedule payments ahead of time with Bill Pay to ensure your bills are paid while you are traveling. Vacations are no fun when you wake up in the middle of the night in a cold sweat because you forgot to pay your car insurance or the electric bill.  Use Bill Pay to establish your payees, and then schedule the payment dates and amounts to be paid before you leave so that you won’t have to worry about forgetting to pay anything.

Set a budget for your trip and stick to it.  Sit down and think about how much you want to spend on airfare, hotels, rental cars, food, entertainment and souvenirs. Write down the maximum you can spend in each area and keep it with you while you travel to prevent you from overspending.

Have more than one payment option available to use. Don’t just rely on one debit or credit card to make all of your purchases while on vacation.  Emergencies happen; be sure to bring at least three forms of payment, including a bit of cash or the area’s currency if traveling outside the US.

Check your balance on the go with your bank’s app or text banking service. Most financial institutions offer a mobile app and text banking for accessing your account balances and history on the go very easily.  When logging into your account, be very careful not to connect to a public wifi connection to check your balances; keep your information safe by using a hotspot on your phone or a secure connection.

Don’t forget to download the SecurLOCK Equip App! If you have a debit card with Rhinebeck Bank, be sure to download the app to your phone: you can set a location range while you travel, create spending thresholds to help you stick to budget and the app also allows you also turn the card off in the event that it is lost or stolen!


Happy summer from all of us at Rhinebeck Bank!

Yvette Temple
AVP, Customer Solutions Manager

Blog Divider - Decorative 5 Reasons Why YOU Should Attend First Friday Poughkeepsie!

June 26, 2018 

First Friday Poughkeepsie is an event that has been described as a “movement” for the City of Poughkeepsie! It’s is a city-wide celebration held on the first Friday of every month from 5:30 p.m. - 8:30 p.m. First Friday Poughkeepsie aims to increase awareness of the City and showcase it as a thriving, safe, and attractive place to live and do business. First Friday Poughkeepsie takes place monthly from April-October each year.

Here’s why YOU should attend:  

Because your support means a lot to our local businesses – First Friday Poughkeepsie was created to help stimulate the local economy and it has thus far! Local businesses are thrilled to take part in First Friday Poughkeepsie… why?, because of your support! These businesses depend on locals spending money at their establishments; and what better way than to kick off an event each month to encourage people to enjoy a night of fun at First Friday Poughkeepsie then head out for dinner or drinks afterwards?!

Because the seeing the city thrive is what it’s all about -  First Friday Poughkeepsie’s intention is to bring awareness to the City of Poughkeepsie and to all the greatness it has to offer! Along with #PKGO, First Friday Poughkeepsie showcases a fun, safe, attractive, place for people to experience this event each month. By creating this atmosphere, the city thrives. 

Because it’s FREE! – Yes! You heard it correctly! First Friday Poughkeepsie is a free event open to the public! The event brings all communities and cultures together to enjoy the city-wide event! Everyone is welcome to enjoy a night of fun at First Friday Poughkeepsie. 

Because of the VIBE – It’s like no other! You can feel the energy! The crowd is filled with hundreds of people all with different backgrounds and experiences, truly enjoying themselves together. You can smell the delicious food in the air, and the music around you is entertaining and captivating. To really understand it, you have to experience it firsthand. 

Because of the Food, Art and the Music – First Friday Poughkeepsie features delicious eats, incredible artist works, and entertainment of all kinds. Depending on the theme of the event and the vendors, each event is vastly different. You will be amazed with the variety each and every time you attend.

Haven’t been to a First Friday Poughkeepsie event? Now’s your chance to attend. With only a few events* left for 2018, be sure to check one out. You can find all the details at

We’ll see you there!  

*First Friday is brought to you by Rhinebeck Bank, LCS Facility Group, and R.L. Baxter Building Corporation.

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

Michelle Barone-Lepore - Headshot

Blog Divider - DecorativeArtwork Program at Rhinebeck Bank

June 19, 2018

Did you know that we at Rhinebeck Bank offer a free Artwork Program? Launched in 2017, this program provides local, Hudson Valley artists with the opportunity to host an exhibit in our branch art galleries. Our Rhinebeck and Beacon branch locations currently participate in this program.

With our Artwork Program, your work can be displayed in the branch of your choosing, and artist collections are on display for 6-8 weeks. There is no cost to sign up, no cost to hang or display work, nor does the bank take any commission on works that are sold as a result of any publicity. Artists are permitted and encouraged to sell their work on site, though this is not required.

Since the start of the program, Rhinebeck Bank has formed a successful partnership with The Art Effect and we showcase their student work on an ongoing basis; however, we also accept submissions from individual, unaffiliated artists. Additionally, photography is welcomed. The Art Effect, formerly known as Mill Street Loft and Spark Media Project, currently has a student exhibit in the Beacon branch through June 30th that can be viewed during business hours. We also have a solo artist, Prudence Haze, whose Spring Bloom collection can be viewed in the Rhinebeck branch through June 30th. To read our featured artist’s bios, check out

I’ve been fortunate to coordinate this program and I’ve gotten to know so many artists and members of our community! Interested artists are encouraged to email We generally request a brief biography, as well as photo samples to promote your work through social media and a press release. We look forward to hearing from you!

Amanda Diamond

Retail/Marketing Coordinator


Blog Divider - DecorativeLearning Never Ends

June 12, 2018

As the school year draws to an end, many students are breathing a sigh of relief.  No more classes, no more tests, no more learning.  But in order for you to be the best employee you can be and have the best career you can have, learning should never end.

Learning is at the center of every career development plan.  When thinking about your career development you should take into account your career interests, the needs of the business and the skills you need to improve or learn in order to be successful in your career.  When you develop your plan, make sure it is realistic and achievable and something you can start to work on immediately. 

In order for your development plan to be successful, it should be created and owned by you but have the support of your manager and the organization.   It should be customized to your career interests and goals and it should incorporate a variety of learning opportunities including on-the-job activities, job shadowing, mentoring, seminars and reading.

Development occurs by learning through education, learning from others and learning on-the-job.  Most career development happens by learning on the job so make sure your development plan includes different on-the-job activities that will help you learn new things and allow you to practice new behaviors.  Add activities that push you beyond your comfort zone to challenge you in your existing job.  With the guidance of your manager, monitor your progress and update the development plan regularly as your interests or business needs may change.

Always keep in mind the development planning process is an opportunity to build on your strengths rather than solely focus on areas for improvement.  As Peter Drucker the “founder of modern management” said “You cannot build performance on weakness.  You can build only on strengths”. 

Jeanine Borko

SVP, Human Resources

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 Blog Divider - DecorativeHere's How We're Giving YOU Better Customer Service!

May 22, 2018

In 2017, Rhinebeck Bank’s Retail Banking department began rolling out their Universal Banker program in the branches with the goal of providing you  with the best service possible. There is no longer the notion of “John Doe is out to lunch – can they call you back?” The objective of this program is to make sure our customer’s service and experiences are as seamless as possible, and that they can be assisted by the same employee throughout their transaction. Former Tellers and Relationship Bankers have transitioned to this Universal Banker role.

What does this mean for you, our customers? What does this look like on a daily basis? Well, I’ll give you an example. I’m getting married this Saturday and do you know what that means? My future husband and I will need to open a joint checking and savings account together! With the Universal Banker program, we can walk in the branch, speak with a Universal Banker on the teller line, have a conversation about getting married and needing new accounts, and they can walk us over to an office to continue the transaction! Furthermore, a Universal Banker can open the accounts for us and create a profile to help understand our financial situation and needs. From start to finish, that employee can assist us, and if our need is something additional, like say a mortgage or commercial loan, they can refer us to a great, local business partner who can continue helping us. The best part about all of this? It’s service right where you and I live! 

Rhinebeck Bank is a community bank in the Hudson Valley with 11 branches located in Dutchess, Ulster, and Orange County.  To learn more about us visit:  Rhinebeck Bank, Member FDIC, Equal Housing Lender. All loans subject to credit approval. 

Amanda Federico

Retail/Marketing Coordinator


Blog Divider - DecorativeSecurLOCKTM Equip

May 15, 2018

Imagine being able to control your Rhinebeck Bank debit card on the go, from the palm of your hand, 24/7. Well, you can do that and more with SecurLOCK Equip. SecurLOCK Equip is a mobile app that lets you customize spending limits, set up transaction alerts, and more. 

The SecurLOCK Equip mobile app allows you to monitor how, when, and where your debit card is used through features like:

Switching On & Off – You have the option to decide when your Rhinebeck Bank debit card is available for use with a single button! 

Location Protections – You can not only manage when your debit card can be used, but where it can be used! With location protections, you can limit card activity by region, and accept or deny international charges.

Alerts – Set up email or SMS text alerts that will notify you: when a purchase is made with your card, when your card status has changed, or if your card is being used in a non-approved location.

Spending Controls – SecurLOCK Equip can even help you save money! You can set-up merchant categories for transactions such as groceries, gas, ATM withdrawals, restaurants, etc., and set spending limits for each of those categories. This can help you stick to your budget!

Unfortunately fraud is not uncommon today. It is imperative for each of us to take the protective actions we can in order to avoid becoming a victim! SecurLOCK Equip offers a handful of preventative features that can help you keep track of your spending, while also allowing you to monitor for suspicious activity. Be sure to visit your app store and download SecurLOCK today to be able to take advantage of all these great features!

(Member FDIC)

Stefania Riccitelli

Digital Marketing Coordinator


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5 Tips to Start Saving for Summer Vacations!

May 8, 2018

I truly treasure my annual summer vacation with my family! It’s something I look forward to each and every year! For some of us it’s a house in North or South Carolina, or a trip to the jersey shore, and for others it’s a once in a lifetime trip to Disney, the Caribbean or even Europe! Wherever your trip takes you this summer, start saving now so you can spend later. 

Here are five tips to help you start saving for summer… vacations! 

1.     Come up with a goal– Setting a specific goal will help you stay on track and can help you feel more accomplished as you get closer to it.

2.     Create a budget – Being aware of your monthly income and expenses will help you understand exactly how much you can save, while keeping you focused.  

3.     Curb unnecessary spending – Keep a visual reminder of your goal in your wallet. This reminder might help you curb some of your unnecessary expenses. 

4.     Set up automatic transfers – Set up a recurring automatic transfer from your checking account to your savings account to save effortlessly.

5.      Open a dedicated savings account – If you can, open a separate account for your specific goal. This can decrease the risk of accidentally spending your vacation savings during your regular day-to-day spending.

Once you’ve hit your goal… CELEBRATE!!! Take that vacation you saved for and enjoy every minute of it!

Check out our Facebook page to learn more of our Ways to Save. There are many things in life to save for, and we have plenty of tips to help you.

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

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Blog Divider - DecorativeCommercial Lending - Products Offered by Rhinebeck Bank and Benefits of Borrowing to the Business

May 1, 2018

There are many reasons why a business, whether old or new, may need to borrow. They may need liquid cash to make it through seasonally slow periods, or they may be getting so much business that they need to purchase extra inventory in order to keep up with demand. They may want to relocate, or purchase a second location.

Rhinebeck Bank offers a variety of commercial lending products to fit the needs of our local businesses. Our Commercial Lending Team will recommend the right product after a formal credit interview to determine the needs of the business.

A few of our Commercial Lending products include:

  • Term Loans: Business loans often used to help finance the acquisition of equipment, vehicles and other fixed assets. In addition, these loans can be used for permanent working capital needed to expand your business.
  • Lines of Credit: A solution for short-term borrowing needs of a business. A business owner can easily use a line of credit to access funds to finance accounts receivables, purchase inventory, take advantage of seasonal opportunities and alleviate temporary cash flow shortages.
  • Commercial Mortgages: Mortgage financing used to purchase and refinance commercial real estate properties. In addition, construction mortgages are available to improve existing properties or develop new sites.
  • US Small Business Administration (SBA): Loan programs backed by the US Government are attractive to start up or growing businesses.

Now that we know there are plenty of options to borrow, how does borrowing affect your business?

Credit Building
There is such a thing as business credit which is credit history that exists solely in the business name and is separate from the business owner's personal credit. Borrowing money establishes business credit because the lender reports timely payments to credit bureaus that maintain a credit profile of the company.

Debt Encourages Discipline
While you wouldn’t take on debt just to increase your discipline, you can consider it a positive side effect of taking on debt. The incentive to improve every dollar may fade when you have a lot of cash on hand. With cash sitting around, it’s easy for spending to expand from necessities to non-essentials. When cash is tight, however, the bar for spending is set higher because each decision and transaction must be financially justifiable.

Please see the Commercial Lending tab on our website for additional lending products offered.

*Rhinebeck Bank, Member FDIC. All loans subject to credit approval.

David Curry

 AVP, Community Lender

Vince Aruigemma Headshot

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On Being a Forty Under 40 Honoree

April 24, 2018

Forty Under 40 Mover and Shaker awards are presented each year to a select group of individuals who have demonstrated both significant community involvement and business excellence. Forty awards may seem like a lot, but so many distinguished professionals from the area are nominated by their colleagues each year, that being selected as one of the final honorees is a great accomplishment. This year I had the honor of receiving one of these awards.

Since joining Rhinebeck Bank in 2013, I have been actively involved in my community; a dedication that is shared across the Rhinebeck Bank family. I have been an active member of both the Kiwanis Club, and the Child Care Counsel of Dutchess and Putman for a number of years now, and I take my roles there very seriously. My hard work and dedication led me to be elected as Treasurer for the Child Care Counsel, and I will soon be the President of the Kiwanis Club. Working at Rhinebeck Bank allowed me to help my community in another way, by assisting people in their everyday banking and helping business owners grow their companies. Knowing that my actions each day, both at work and volunteering, contribute to the improvement of this community is very rewarding.

Richard Kolosky, SVP Commercial Team Leader, was kind enough to nominate me for this honor, for which I am very grateful. To me, being selected for the Forty Under 40 Award is not only a great honor, but an even greater responsibility. As a recipient, I feel I owe it to the community that awarded it to me to continue going above and beyond to further the betterment of my home, the Hudson Valley.

Michael Liguori

AVP, Community Lender

Vince Lobosco - Headshot

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Teaching Your Children to Budget

April 17, 2018

Teaching our children how to budget money today is very different than it was 30 years ago. When I was little, my mom put cash on the kitchen table and separated it into simplified piles: one pile for the house payment, one for the electric and cable bills, one for food, one to save, and then one final pile for what was leftover. This would be the pile we could use for a special activity like going to the movies or maybe a new pair of sneakers we wanted. It was easy to see and understand. We were always told cash was king!

Today this lesson is very different, although the basics of budgeting are not. Some children have never seen cash; the plastic debit/credit card is all some of them have ever been exposed to. It is a parent’s job to teach children financial responsibility, especially in times like these when so many financial things are changing.

When my older daughter was in junior high school she came home one day and told me that in her resource class that day they were learning how to balance a check book. She then proceeded to laugh a little and say “when am I ever going to use that?” A wake up call for me! Today, when most younger people come into the bank to open a new checking account nine times out of 10 they do not order checks. Online banking services and ATM’s have made check writing almost obsolete. There is no longer three days to a week for a check to clear. You swipe your debit card and the funds are gone instantly! That is another reason it is so important to teach our children how to handle money. We must teach our children how to live within their means, and to understand how their money is being spent. Here are some suggestions on watching where our money goes and realizing every little bit counts!

1. Give your children an allowance for chores and encourage them to track how they spend and save it. Make it clear that this is the money they need to save if they want to buy something big.

2. Be honest with your children about your family’s budget. Explain to them the costs associated with 100 extra cable channels or an extra 2 GB of data. Let them play a part in discussing non-essential financial decisions.

3. Children will have friends who always have more stuff and the newest stuff. Explain to your children early on that stuff is not what makes you or your life valuable. Show them that experiences can be just as, if not more, rewarding than buying new things.

4. Teach them how credit works. This is one of the most important lessons you can teach them. Show them how interest paid can increase the actual cost of things they buy. Explain how in most cases it may be smarter to wait to buy and save towards the purchase. Back to cash is king!

5. One last tip is realizing how that mocha latte everyday is really putting a dent in your budget. $5.00 a day on a beverage can quickly add up to more than $100.00 a month. That’s a lot of money that could be put towards your big financial goals!

Money can buy many things, but nothing makes you happier than being financially secure!

Carolyn Manfreda-Haines

AVP, Area Branch Manager

Vince Lobosco - Headshot

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Car Loan Confusion?

April 10, 2018

Are you looking to buy a car? Are you getting confused by all of the shorthand vocabulary being thrown around, and all the fine print? You aren’t alone.

I often answer questions about many of these tricky details so I thought maybe it was a good time to spell things out.

Let’s start with prices. There are three main terms to know when understanding what a car cost: MSRP, retail value, and invoice. MSRP stands for Manufacturer’s Suggested Retail Price. This is associated with new cars and is basically the same as the list price. It’s also generally the same as retail value, for new cars. For used cars, however, it’s a tad trickier. Retail value on a used car can either be the average value determined by automotive value guides, or the selling price from that particular dealer or shop. This can be quite confusing, so make sure to do your homework. The invoice on the other hand, is the cost of the car to the dealer, straight from the manufacturer.

If you are buying a new car, you also might hear about rebates which are discounts off the MSRP to the customer from the manufacturer.

On the other hand, if you’re looking to lease a car, cap cost, and cap cost reduction, are two notable terms to know. Cap cost is short-hand for capitalized cost, which is the amount of the car’s value that you are financing. This number is used to calculate the lease. Cap cost reduction is used to describe any method of reducing the cost of your lease. For example, are you putting money down or trading in a car with equity to reduce the monthly payment on the lease? If so, that is called a cap cost reduction. You may also hear of residual value. Residual value is the predetermined value that the vehicle is expected to be worth at the end of your lease.

There are two more terms I think you should keep in mind. Upside down is a common phrase in the car buying field. If you owe more on a vehicle than it’s actually worth, that is referred to as being “upside down.” Being upside down on a loan can be risky, as it poses a dilemma if your car happens to be totaled before you pay off the loan. This leads us to the term gap.

Gap is used to describe the difference between what a vehicle may be worth if it’s been totaled (ie. what the insurance company will pay), and how much money you may still owe your lender. Say for example, you take out a $22,000 loan on a sedan, but are in a car accident eight months later which totals the car. If the insurance company determines the car is only worth $14,500 but you still owe a total of $17,000 on your loan, then the gap would be $2,500. That “gap” is the amount of money that you would still need to pay the bank on your loan.

These are a few of the commonly used terms that I often help people understand when discussing auto financing and lease transactions. Let me know if there are any others you’d like cleared up!

And of course, good luck shopping!!!

Vince Lobosco

SVP, Consumer Lending

Vince Lobosco - Headshot

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Don’t Rely on “Luck” to Find the Perfect Home

March 27, 2018

There is an old saying from Roman statesman, Lucius Annaeus Seneca, that “luck is a matter of preparation meeting opportunity.”

Are you prepared for the moment when your perfect house becomes available? The best way to be prepared is to be fully pre-approved for mortgage financing. I am not talking about a “pre qualification” where you have a 10 minute phone call with someone who asks how much you make, how much you have in the bank, and how you think your credit is, and then punches some numbers in a calculator and spits out a monthly payment you might be able to afford. Nor is it typing some numbers into your iPad screen and taking a shot at the moon to have a website tell you how much you can afford.

A true pre-approval is conducted when you have someone review and analyze your personal income, asset statements, and your full credit report.

Analyzing income normally includes a review of all borrowers’ paystubs, W2’s, and if necessary, personal and business tax returns. Pay stubs will reveal opportunities or limitations of certain income. Do you receive overtime, bonuses, or commissions? Are you taking any deductions on your business returns that can be added back into your monthly income amounts? An experienced loan officer will be able to give you a complete and thorough review of your income.

Asset statements can often contain items that would require further review or documentation. Large deposits that are outside of your normal pay schedule may require an explanation. Did you receive a gift, sell a piece of equipment, or were you recently married? (hopefully there were many envelopes to open!!) Knowing the exact amount of funds that will be necessary to complete your purchase transaction is crucial.

A full review of your credit report not only lists your “credit score”, but gives detailed information on your monthly liabilities that need to be reviewed and included in debt-to-income calculations. The credit report many times uncovers items that need to be addressed that a borrower is not even aware of. Addressing any credit issues or simply putting your mind to rest that your credit is sufficient to purchase a home is important to ensure your purchase process is quick and easy.

Lastly, find a real estate agent who you feel comfortable with. Trust in them to work to find you the perfect home. They are the professionals who will help you filter through listings and make sure you spend your time wisely looking through homes that fit your needs.

By relying on professionals to help you prepare for your home purchase you will create your own “luck.”

I do however, wish you the very best of luck in finding your perfect home!!

Vincent Aurigemma

 VP, Residential Lending

Vince Aruigemma Headshot

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The New Loan Customer’s Guide to Making Payments

March 20, 2018

Rhinebeck Bank works with dozens of dealers in the Hudson Valley to finance loans for both new and used vehicles. If you are a new loan customer with Rhinebeck Bank, let me first say congratulations on your recent purchase! Buying a car or truck is an exciting event and I hope you have many years of driving happiness. In the next couple of weeks, you will receive a coupon booklet in the mail from us indicating your loan account number and payment amount. However, loan coupons are not the only way to pay your loan with us; the following are different payment options for you to consider:

Automatic Transfer
With automatic transfer, you don’t have to worry about remembering to send a payment in; we’ll pull the payment automatically from your checking or savings account! You can even set up weekly, biweekly or monthly payments, depending on your budgeting needs. Automatic transfer is easy to set up; please call our Customer Solutions Center at 845-454-8555 option 3 to request the Authorization for Automatic Transfer Form to complete and sign. We can email, fax or mail it to you, or you can stop in to one of our convenient branch locations.

Online Payment*
Online payments are convenient and accessible through our website 24 hours a day, 7 days a week! To make an online payment, simply register for Online Banking from our homepage at and click on the Enroll button found beneath the Username field; you will need your loan account number to complete the enrollment. Once you have registered and created a username and password, give our Customer Solutions Center a call to request access to External Transfer. With this service, you can transfer money from your primary financial institution to your loan with us. The external transfer process will take 1 – 2 business days from start to finish, as there is a verification process to confirm the routing number and account number for your checking or savings account before you can make your first payment. Once your account information has been verified, you can log in to Online Banking to make your payments at any time.

*Please note that this option is not currently available within our Mobile App. You must have a routing number and account number to make online payments; we cannot accept online payments using a debit card or credit card at this time.

Branch Payments
We are conveniently located throughout the Hudson Valley with nine branches between Fishkill and Red Hook in Dutchess County; a branch in Goshen, Orange County and a branch in Kingston, Ulster County. You are always welcome to stop in to one of our branches to make your payment. You can also use the Night Drop slot on the side of the branch if our hours are not convenient for you: simply place your payment in an envelope and note your account number on it.

Payments by Mail
If you would prefer to mail us a check or money order each month, please use the coupons we mailed to you and include them with your payment. As a reminder, it is never a safe practice to send cash through the mail. If you have lost your coupon book, you can just write your account number on the memo line of your check or money order, or you can request a replacement coupon book with us for a small fee.

Payments by Phone
The Customer Solutions Center can also take your payment by phone using the routing number and account number for your checking or savings account. Unfortunately, we cannot take payments with a debit or credit card at this time. Please note there is a fee to use this service – please refer to our current Fee Schedule by visiting our Legal/Disclosure page here.

Other Payment Options
If you have a Bill Payment service with your primary financial institution, please feel free to add us as a payee to make your payments. We are in the payee database for most local banks and credit unions, so your payment will probably come to us electronically. Please refer to your institution’s payment processing schedule to ensure your payment gets to us on time.

Yvette Temple

AVP, Customer Solutions Manager

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4 Reasons Why You Should Bank at Rhinebeck Bank

March 13, 2018

I’m always out and about in public and often get recognized as “the face” of Rhinebeck Bank’s weekly talk show, “Wake Up with Rhinebeck Bank.” The show features community leaders, business owners, and non-profit organizations, while sharing information that educates the public about our local area and banking.

Once we get past the, “HEY! You’re the person on that show” moment they usually want to learn more about the Bank. The one thing people always want to know is: Why should I bank at Rhinebeck Bank? Here’s what I tell them:

1. We’re a community bank– Our goals are always set with the Hudson Valley in mind. We employ people who live here and want nothing more than to help our local area, often volunteering in their communities. Believe it or not, if you Bank with us, YOU play a vital role in the success of our community too. Your business allows Rhinebeck Bank to add jobs to the work force and give back to the Hudson Valley community by donating to local causes and events like First Friday Poughkeepsie.

2. We’re educators – We focus on educating customers like you about what products and services are out there so that you can make the best decision for your personal finances. We care about our customers, and we want you to have good information in order to make wise decisions rather than just selling you products to meet our sales goals.

3. We’re friendly – We offer a great customer experience with a personal touch. We know our customers and help them with their needs. We build relationships and make sure you’re never just a number to us.

4. We’re local-minded – We are all local residents which means we always have our local communities in mind. We understand what our area needs. This local, personal knowledge allows us to better advise small business owners and ultimately, all of our customers.

I don’t just talk the talk, I truly believe there is a major benefit to banking with a community bank, especially Rhinebeck Bank. Consider banking with us by checking out our products here. You can always ask me more about why you should bank with us and I will gladly share my thoughts! And if you’re already a customer, we thank you for your business, and we thank you for helping your local community!

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

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What Motivates You?

March 6, 2018

When searching common interview questions, one that often appears is the question “What motivates you”? Articles suggest be honest but keep your audience in mind.  That’s good advice because you are on an interview, often making a first impression and ultimately (probably) want the job for which you are interviewing. Some suggested answers are “I am motivated by… the desire to meet a deadline, mentoring others, learning new things”. These are acceptable answers, but don’t really say much. You need to be able to drill down to the real motivation behind the superficial answers.

Not only is it important for you to know what motivates you, but it is important that your boss knows what motivates you. Bad bosses do not care what motivates you. So-so bosses ask what motivates you once and may or may not try to work it into your job. Good bosses will ask you what motivates you, will work it into your job and will keep asking you what motivates you because let’s face it, what motivates you can change. 

No matter what type of boss you have, it is important for you to know:  What motivates you and why?  How do you like to be managed?  How do you like to be rewarded?  How do you learn best (ie. reading, demonstration, hands on experience, testing, etc.)? What were the 2 prime triggers that caused you to leave your last two jobs?  What would you like to learn (specifically) in the next 90 days?  

What motivates you is an important question, but the answer is more important.  Knowing the answer to the question is often the difference between going to work happy or miserable.  It is even sometimes the difference between a “job” and a “career”.  You should take the time to drill down and figure out what it is that motivates you on many levels – daily, overall, at work, and life in general. Your career and your life will thank you for it. 

Jeanine Borko

SVP, Human Resources

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 Blog Divider - DecorativeSmall Steps to Saving

February 27, 2018

Everyone struggles with saving money and budgeting to their lifestyles. It is important to know that anyone can successfully get back on track and become financially stable. This may not come easy to some, but there are several tips and tricks you can utilize that will help you start saving money today!

First I would like to start by discussing some of the basics that some of us are already aware of, or have heard before. These are essential to understanding your personal finances.

  • Think about a Plan: There is no way to know where you want to go without determining your goals and creating a plan. Your plan should consist of both your short term and long term financial goals. Short term goals may consist of paying down credit cards, saving for a down payment on a house or car, or contributing to an emergency savings. Long-term goals may include saving for retirement, your children’s college, or paying down your mortgage.
  • Establish a Budget: When establishing a budget, take the goals you established in your financial plan and put them into a worksheet to see how you can best contribute to each one. I like to use a budget calculator like this one by Calculators like this will allow you to break down your monthly/annual expenses and your monthly savings goal(s), in relation to your household income.

Now that you have your plans set and spelled out in your budget, let’s discuss a few tactics that can make a difference in your wallet over time, especially if you’re able to implement more than one. Some of these suggestions take just a few minutes, while others may require a bit of consistent effort.

  • Make your own gifts instead of buying stuff from the store We are very lucky nowadays to be able to utilize the internet to provide us with ideas for easy DIY gifts. Take advantage of websites like Pinterest and YouTube, as they provide plenty of ideas free of charge! 
  • Write a list before you go shopping – and stick to it. When you create a shopping list before you go out, you are more likely to avoid making those impulse buys and unplanned purchases. Take this step to the next level and plan your list in accordance with the weekly grocery flyer! It may only look like small savings at first, but if you can make it a regular habit, those savings add up. 
  • Remove your credit card numbers from your online accounts. Amazon Prime comes to my mind right off the bat. It is so easy to spend online when you have your card info stored in an account because all you have to do is click and buy. One of the best ways to break this habit would be to simply delete your card from the account. Personally, if I had to get up and get my wallet every time I had an urge to purchase something online, I would usually choose to continue browsing and forget about the impulse purchase.

There are plenty of different ways to save money and get on top of your finances. The most important thing is to have your infrastructure for success in place: you budget! Once you understand where your money is going and what you have left to spend, you have figured it all out! Well mostly..

David Curry

 AVP, Branch Manager

Vince Aruigemma Headshot

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Broken Heart, Broken Wallet

February 13, 2018

Far too often as a bank manager, I have come across well educated, savvy, level headed customers becoming victims of scams and fraudulent activity. When hearing of these white collar crimes in the news, we often think, “No way! That’s ridiculous. Who would fall for that?” Unfortunately, some criminals have perfected their craft, and virtually anyone can fall for these scams with the right timing and circumstances. Victims of financial scams often feel vulnerable and depressed due to the psychological effects it can have. It’s an extremely traumatic situation to go through not only due to the financial loss, but the many lingering effects afterwards such as insecurity, trauma, and anger towards one’s self and the criminals who have violated their privacy and trust. There are three prevalent scams that we have seen recently that should be noted. Sometimes being knowledgeable that these types of crimes exist can provide you, as a consumer, with an added layer of hesitation and caution.

A romance scam is a crime involving feigned romantic intentions towards a victim, gaining their affection, and then using that goodwill to commit fraud. Fraudulent acts may involve gaining access to the victims' money, bank accounts, credit cards, passports, email accounts, etc., or by getting the victims to commit financial fraud on their behalf. It often starts with a simple conversation over email, a phone call, or an instant message. The criminal is seeking out vulnerabilities in their victim and often try to fill a void or need of the person they are scamming. Suddenly, the violator loses their job, has to go to the hospital, needs to pay off student loan debt, or any other number of expensive predicaments. That’s where you come in! The best way to protect yourself is to never share personal information unless you are sure you know who you are dealing with, and most importantly, trust your instincts.

The second scam to bring to your attention is called a lottery scam. This scam is particularly effective because many people often play different forms of lottery and enter raffles, so when the call comes that they have won, the victim can easily believe that one of their entries has finally yielded a jackpot winning. The recipient of the message is usually told to keep the notice secret for privacy purposes and to contact a "claims agent." After contacting the agent, the target of the scam will be asked to pay processing or transfer charges, or perhaps some taxes on the prize so that the winnings can be distributed, but will never receive any lottery payment. The best advice in this scenario is the old saying, if it sounds too good to be true, it probably is! But if you feel as though it may be legitimate, ask plenty of questions and obtain their contact information. Often simply calling that same phone number back will lead to disconnected numbers or red flags that should immediately sound the alarm that this might be fraud!

Finally, the term phishing is the latest scam that can be extremely deceiving because it relies on your trust in reputable companies. Phishing is the practice of sending emails to consumers by fraudsters misrepresenting themselves as viable companies to obtain personal and financial information from its victims. An email will come through from a bank or major outlet store warning of an issue with your account and to call or write back immediately to avoid a disruption in service. This frantic call to action is meant to get an immediate response from a customer before they have time to do the proper research. If you get an email from a company that you do business with, the best way to protect yourself is to contact that company in a way you are already familiar with. The fraudsters are counting on the fact that many of the people they send the message to might actually do business with the company they are posing as. Call your local store or branch, reach out to the customer service representative you often interact with and ask if what you received is true and legitimate. Often these emails come internationally and include inconsistencies. Other red flags may include misspelled words, multiple fonts, and/or distorted logos and branding on the emails. Again, the best way to protect oneself is to slow down, ask questions, and be on alert!

In closing, here are some general tips on how to keep your identity safe: 

  • Never give out your full social security number, birthday, account number, or any other identifying information over the phone.
  • Research any charities or organizations you want to donate towards to ensure they are legitimate charities.
  • Ask plenty of questions and obtain details and contact information from those you are interacting with.
  • Utilize your local contacts at the places you do business to find out if the information you are getting is legitimate.
  • Trust your instincts. Many victims in hindsight remember many red flags that they initially chose to ignore.

These are just some of the steps you can take to protect yourself against identity theft and fraud. For further information, or if you think you’ve fallen victim to any type of scam, visit the FBI’s Internet Crime Complaint Center by clicking here.

Brian McFarlane

 AVP, Branch Manager

Vince Aruigemma Headshot

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Tax reform vs. home ownership - don't get lost in the details!

February 6, 2018

The recent passing of the tax reform bill has caused an incredible amount of scrutiny and opinion towards the effects it will have on home ownership. It is during times like these that we need to examine the facts of the new plan, and then reflect on the main benefit of home ownership and the reasons we buy a home. 

Let’s start with the facts. In relation to real estate lending and home ownership, there are three main changes to the tax plan to consider: 

1.    There is a $10,000 cap on state and local taxes- the new plan puts a cap on the amount of state and local taxes that can be deducted on your 2018 returns, affectionately referred to as “SALT”. This will have a detrimental effect on homeowners, especially for the greater percentage of households in the southern portion of the Hudson Valley.  

2.    There is a reduced cap on the amount of mortgage debt that can be deducted- the interest deduction cap has been reduced from mortgage amounts of $1,000,000 to mortgage amounts of $750,000 and under. To add some texture to this change lets review some real data. If we assume that the minimum down payment on a non conforming (Jumbo) loan amount is 10%, then the minimum purchase price would be $833,333. In speaking with Sandy Tambone, Executive Director of the Mid Hudson Multiple Listing Service LLC, approximately 2% of homes sold in 2017 had sales prices at or higher than this amount. While I am sympathetic to the 2%, this change is not a market driver.

3.    Deductibility of interest on home equity loans has been eliminated - while the new plan states that the home equity loan interest is no longer deductible, it does state that the interest from an equity loan used for “acquisition indebtedness” or “substantial improvement” to a home can still be deducted. This should mean an equity loan used specifically to purchase a home or to make upgrades and additions to current homes, however, there has been no guidance as to how you or your accountant is to document the original or subsequent use of a home equity loan in order to maintain this deduction. 

These are the three hot buttons that have the real estate community talking, but let’s stop and discuss why we buy a home in the first place. Is it mainly for the tax break? No, although that was always a nice secondary benefit. The main reason we purchase a home is for equity and wealth creation. As we pay down our mortgage we are gaining equity. Yes, that can sometimes be temporarily offset by market conditions but as the saying goes, it is “time IN the market, not TIMING the market”. Purchasing a home is generally the biggest financial decision a person can make in their lifetime. Let’s not cloud that by talk of tax plans and changing deductions. Owning our own home, building equity, planting family roots, establishing yourself as part of a community, these are the ideals that drive our housing market.

In times like these we should take our eyes off of the headlines and focus on the benefits and advantages of home ownership, and what buying a home means to us.

Vincent Aurigemma


VP, Residential Lending

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GAP Insurance - do you need it?

January 23, 2018

We are often asked about GAP insurance: what is it, what does it cover, do I need it? GAP insurance is a product that covers you for the difference between what your insurance company may pay the bank in the event of a total loss and the balance you owe the bank on a car loan. For example, if you owe the bank $20,000.00 and you total your car, if the insurance company pays $17,000.00 based on the retail value of your car, you are “upside down” by $3,000.00. Even if you pay your deductible of $500.00, you still need to pay $2,500.00 for the deficiency or the “GAP” between what the insurance company has agreed to pay and what you owe. Scenarios like this are quite common these days and in many cases, we see deficiency amounts much higher due to people financing for longer terms, as well as the depreciation of vehicles, etc.

If you had GAP insurance in this instance, the bank would file the claim, the insurance company would pay the additional $2,500.00 to the bank, and you would be all set, ready to go shop for another car! If you didn’t have GAP insurance, you would need to pay the deficiency or look into other options such as a personal loan if you didn’t have the cash on hand to cover it. Or if you did have the cash, that may have been the money you needed for a down payment on the next vehicle. GAP insurance can really come in handy these days, so when you buy your next car, consider the possibility of what could happen if your car is totaled. At Rhinebeck Bank,  GAP insurance currently costs only $135.00 and is a one time fee at the beginning of the loan - it could save you thousands!


Vince Lobosco

SVP, Consumer Lending

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It’s a New Year! Make a Resolution to Improve Your Finances

January 16, 2018

When January 1st comes around each year, most people try to think of at least one thing they want to improve in the coming year. For many, the resolution is about their health, whether it’s to lose weight, eat healthier, exercise more, or maybe even quit smoking. Experts say that one of the best ways to achieve your New Year’s goals is to start small. Breaking your goals into manageable milestones helps to build the desired habit and eventually that habit becomes a way of life. These milestones also act as small achievements, helping you stay motivated.

When deciding on your New Year’s resolution(s) for 2018, have you given any thought to improving your financial health? January is a good time to start fresh with a new budget that fits with your goals, even if it’s just to put more into savings, pay down debt, or maybe even a little of both.

Determine Your Discretionary Spending
Discretionary spending is the amount of money you have left over after you’ve paid your bills for the month. To determine this amount, take a moment to make a two column list. One column should list and total the money you have coming in each month, such as paychecks, child support and tips. The second column should list what you pay out for your rent or mortgage, utilities, car loans, student loans, credit card payments or other expenses, and the additional costs of food, clothing and other necessities like gas for your car.

Subtract the total of what you are paying out each month from what is coming in: the difference is your discretionary spending.

Resolution 1: Increase Your Savings
Once you know how much you have in discretionary spending each month, you can decide how much of it to put aside for savings. Be sure to think about what you spend on activities such as going to the movies, out to dinner, gym dues, sports events and anything extra you participate in.

Start small with $5 or $10 a week if that’s all you can afford. Over 52 weeks, you can save between $260 and $520. You can even resolve to put the money you would spend on a cup of coffee or buying lunch each day into savings. It adds up quickly!

No matter the amount, just the commitment to put money away for a rainy day is improving your financial health!

Resolution 2: Decrease Debt
Shopping for the holidays can leave us all with a bit of extra debt when those credit card bills start coming in. It’s always a best practice to pay off your credit cards each month, but if you can’t, knowing what’s available for discretionary spending can help you put extra money towards those balances.

Did you know that a credit card with a $2,000 balance will take over ten years to pay off when only making the minimum payment each month?! Increase that minimum payment by an extra $25 or $30 and the card can be paid off in less than three years and it may save you hundreds of dollars in interest expenses too.

If you have a car loan, a student loan, or a mortgage, you can use some of your discretionary spending towards principal payments. Any reduction in the principal balance over your regular payment will pay the loan off faster and save you interest over the life of your loan.


Yvette Temple

AVP, Customer Solutions Manager

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Is It Safe to Use My Debit Card?

January 9, 2018

This question often comes up, especially in light of recent security breaches at various merchants. The short answer is yes, a Debit Card is just as safe as a credit card. However, there are differences that you should be aware of.

Each has their advantages, and possible disadvantages. This has to do with your intentions for using each card.

When using your credit card, if you intend to pay off the full balance each month then credit cards offer some notable benefits. First, you’ll be using the institution’s money until the balance is due, keeping liquid money in your account longer. Many credit cards also now have reward programs that provide more benefits such as cash back, and discounts on certain purchases. Third, using a credit card for larger transactions such as car rentals and hotel stays won’t tie up funds in your checking account when a hold is placed for the anticipated amount of your transaction.

When using your Debit Card, the funds are authorized and deducted from your checking account at the time the transaction takes place. The benefit to this is there is no payment due at a later date when you may not be able to pay the full amount. Additionally, you will avoid paying interest on the amount of your transaction. Debit Cards are also an alternative to carrying cash, and virtually all merchants today accept MasterCard branded Debit Cards, such as your Rhinebeck Bank debit card. The advantage here is if you lose your Debit Card, there is protection for your money, whereas if you lose cash it is gone.

This brings me to the “safe” part of this discussion. Rhinebeck Bank’s MasterCard branded Debit Cards provide the following protections for consumers:

  • MasterCard® ID Theft Protection™
  • MasterCard® Global Service™
  • Zero Liability Protection*

For more information on these protection services, click here to be directed to our MasterCard Debit Card webpage, and scroll to the “BETTER PROTECTION” section of the page.

You will see that you can be confident that using your Rhinebeck Bank Debit Card is both convenient and safe.

Robert Foster

Retail Operations
(Rhinebeck Bank, Member FDIC)

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New Year Job Resolutions

January 2, 2018

It’s the time of the year to look back on the past year, reflect on our successes, and find opportunities for improvement. While developing your personal resolutions, it is wise to come up with some career resolutions as well.

There is no substitution for doing your job well. In order to succeed in your career you must have the skills and knowledge to do your job efficiently and correctly. That said, attitude goes a long way. Most people would much rather work with a competent person who is a pleasure to work with over a miserable superstar any day.

So here are some things you can resolve to do in the New Year in order to be successful both in your career and in your office relationships.

Be a good communicator
If you're working on a project, ask yourself who needs to know about it, and then keep them in the loop. Try to think a step or two ahead in order to anticipate how things may go and prepare for potential problems. When someone helps you, say “thank you”. Don't leave people waiting for answers either. Return emails promptly so that others can carry on with their own projects.

Be proactive
Think about how you can go above and beyond. Come up with ideas, and/or make recommendations when you have them – even if it isn’t for your own project. If you know someone is going to be out, volunteer to cover for them, even if it’s only in the smallest way. Every little bit helps. Furthermore, take the initiative to expand your knowledge and skill set. Doing more than the bare minimum is appreciated and goes a long way to help you grow and advance.

Be positive
Having a positive outlook is integral to a successful organization. Projecting a positive image and energy helps boost the mood and morale of those around you. If you encounter a problem, be the person looking for solutions and ideas, not the person who merely complains.

Commit to making professional improvements in 2018, and stick with those resolutions. Your career will thank you for it, and it might just carry over into your personal life too!

Jeanine Borko

SVP, Human Resources

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All I Want for Christmas is My Own Backyard

December 19, 2017

Majority of home shopping and home buying take place in spring and summer, however, there are some benefits to buying a house during the winter months. Here are five reasons to buy a home in winter.

1. Motivated sellers
Anyone who is willing to pack up and move in the dead of winter must really need (or want) to get out. This could help you leverage your negotiations on selling price and closing costs, and could potentially up the odds of the seller leaving some personal items behind in the sale!

2. You get to see how the home operates during the toughest weather of the year
Buy a house in the middle of summer and you may be surprised by the cold drafts you feel in winter. Knowing how your house will hold the heat in the colder months can help you determine what type of improvements may be needed well in advance of owning the home.

3. Fewer buyers competing for your potential purchase
Although there are fewer listings to choose from, fewer buyers competing over a home can give you an advantage. The majority of home searches happen in spring and summer so most sellers have lots of folks strolling through their front door. In the winter you are one of the select few who may be interested in seeing someone’s listing. This makes you stand out and makes your potential offer a priority.

4. Quicker closing times
Due to the low number of people buying homes at this time, regular loan activity for lenders and realtors alike are at some of the lowest levels of the year. This means your loan and or contract is getting reviewed quicker through both processing and underwriting. Your realtor has more time to work on your purchase and handle negotiations and offers. Use this as part of your negotiating to ensure the seller that your financing is in order and your lender is ready to get you a quick closing.

5. Rates may not be as low next year
The market has been riding a relatively calm path over the past five years since 2013. The annual average rate as posted by Freddie Mac has ranged from a low of 3.65% (2016) to a high of 4.17% (2014).* With the prime interest rate going through three rate increases this year and the economy showing steady growth, it is inevitable that long term interest rates will eventually increase. While we cannot attempt to predict when that will occur, it is prudent to take stock in this historic rate “trough” and take advantage of the buying power that comes through a low interest rate.

*As published in the 30 Year Fixed Rate Mortgage Graph at

Vincent Aurigemma

VP, Residential Lending

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Hudson Valley Holiday Happenings

December 12, 2017

The holidays are a special time of year, shared with friends, family and those you love. The Hudson Valley offers many holiday events each year for you to attend! Below is a list of holiday activities that are either coming up or that are still going on!

Polar Express Train Ride
November 17th-December 28th
The Catskill Mountain Railroad offers train rides inspired by the popular motion picture, “Polar Express.” Families will enjoy sing-alongs, holiday cookies, hot chocolate, and a visit from Santa!

ERDAJT Holiday Light Display
Nov 24th –Dec 28th
Holding the Guinness World Record for the most Christmas lights on a residential property, the ERDAJT Holiday Light Display is something you don’t want to miss! The display contains over 600,000 lights that synchronized with a music playlist that changes each year. The display, which has become a region staple, never disappoints and grows more and more each holiday season!

Hyde Park Menorah Lightning
Dec 13th at 3:45pm
Town Square
Town Supervisors, community officials and residents will be enjoying doughnuts, hot latkes, drinks, and music to celebrate the traditional Menorah Lighting!

Dutchess Handmade Pop-Up Shops
Nov 3rd- Dec 16th Monday-Friday 9:30am- 5:30pm, Saturday 10:00am-3:00pm
Arts Mid-Hudson will be hosting over 70 artists from the Hudson Valley at their pop-up shop event. Assortments of locally made glass, textiles, prints, and other handmade crafts are all available for purchase!

You can make these activities a tradition to do year after year with your loved ones. It’s always nice to start a new holiday tradition.

From all of us at Rhinebeck Bank, have a safe and happy holiday season!

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

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Employee Appreciation Week at Rhinebeck Bank

December 5, 2017

We recently celebrated Employee Appreciation Week at Rhinebeck Bank. As an organization we think it is important to take the time to say thank you and to show our appreciation for all that our employees do to help our organization succeed. To quote our COO, Jamie Bloom, “We are a better organization because of our employees. We make a difference in our customers’ lives, the lives of the people in our community, and each others’ lives. For that, we thank you.”

As an organization we are fortunate to have the time and resources to be able to have this special tradition. If your organization does not have the ability to host such an event does not mean employees shouldn’t feel appreciated. Managers can do things every day that let employees know how much they are valued.

As a manager, you can show your appreciation by:

  1. Being available to your employees, not only to discuss what you need as their manager, but to discuss what they need from you.
  2. Saying "thank you" when your employees accomplish a task. It only takes a few seconds to say and the impact can be significant.
  3. Asking for your employees’ opinions. Ask them for thoughts on a project, the company, and/or how you are doing as their manager. They probably have some insights that can benefit you, your team, and the company.
  4. Talk to them about their development and career goals. Work their interests into projects whenever possible.

Take a small amount of time each day to show you employees you are thankful for them and the work they do. These small gestures are simple, but they have palpable effects on your employees, their morale, and their work quality.

Jeanine Borko

SVP, Human Resources

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 Blog Divider - DecorativeThe Customer Solutions Center at Rhinebeck Bank

November 28, 2017

Last month my team, the Customer Solutions Center, celebrated Customer Service Week with some great laughs, great food and great comradery. It was a great time to celebrate our successes in 2017 and to look forward to the new projects coming up in 2018. We take great pride in providing outstanding service and support to all of our customers and fellow employees.

Who Are We?

The Customer Solutions Center is the dedicated team that answers the phone when you dial the Bank’s main number at 845-454-8555, option 3. We also answer the messages sent through the Bank’s Online Banking service and all of the emails sent to the Bank’s general mailbox at We are available Monday through Friday from 8:00am to 6:00pm to help both customers and non-customers alike.

The Customer Solutions Center has five knowledgeable representatives who are always ready to take your calls, or answer your emails during business hours. Together, we have been with Rhinebeck Bank for a combined total of 62 years and our years of overall banking experience span over 75 years!

How Can We Help You?

The Customer Solutions Center can help with many requests including:

  • Online Banking support, including the Mobile App, eStatements and Bill Pay
  • Consumer and Business Debit Card support
  • Account History information, including printing of statements and checks
  • Loan Account information, including payoff requests
  • Mortgage Account information, including payoff requests, escrow and PMI questions
  • General questions about the Bank’s products and services, locations and other information

My team is committed to providing the best service we can to each and every person who calls in, sends us an email, or messages us. Please feel free to reach out to us if you should have any questions or concerns. We love getting feedback about how the Bank can serve our customers better, so please share your thoughts with us!

Yvette Temple

AVP, Customer Solutions Manager
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How Do You Conduct Your Banking?

November 21, 2017

Do you remember the days of going to the bank with your paycheck, standing in line for a teller, making your deposit, getting some cash back, and asking for the balance in your accounts? After leaving, you remembered you needed to pay your car loan, so you trek back into the bank, ask for a blank check (because you forgot your checkbook), ask for your loan number, write the check, and then give the check to the teller.

It may surprise you to know that many still bank this way. However, more and more people are managing their accounts through means other than going into a branch.

A recent survey*, conducted on behalf of the American Bankers Association (ABA), confirms that online and mobile banking continue to grow in popularity, representing the primary banking channels for two thirds of Americans.

When asked “Which of the following methods do you use most often to manage your bank account?” consumers responded as follows;

Internet (Laptop or PC) - 40%
Mobile – 26%
Bank Branches – 18%
ATM – 7%
Telephone – 4%
Mail – 2%
Don’t know/No opinion – 3%

It is interesting to note the demographic breakdown of the respondents. Methods of digital banking are used across all age groups. Mobile banking remains the preferred choice from those within the ages of 18 – 44. Those above age 65 prefer backing online using a tablet or computer. Visiting a branch is now second choice to those age 55 and older.

Rhinebeck Bank provides access to your accounts via all of the channels mentioned above. You can conduct your banking electronically from virtually anywhere, with no need to wait in any lines. You have access to cash at thousands of ATMs. You are also invited to visit any of our 11 full-service branches. We remain committed to providing you with each and any of your preferred banking methods.

We won’t get rid of our branches any time soon, so don’t hesitate to stop by sometime and say hello. We’d love to see you.


Robert Foster

Retail Operations

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Elder Financial Exploitation – Things to be aware of and to consider

November 14, 2017

Elder financial exploitation is the illegal or improper use of an elderly adult’s funds, property, or resources by another individual. This exploitation can take many forms, including scams, abuse by trusted individuals such as family members or friends, and predatory products and services marketed specifically to the elderly.

Governor Cuomo’s 2015 Opportunity Agenda directed the Department of Financial Services (DFS) to redouble its efforts to protect elderly New Yorkers from financial exploitation. DFS has issued guidance to financial institutions on steps they can take to prevent elder financial exploitation, but all New Yorkers can take proactive steps to prevent elder financial exploitation.

The tips and resources below provide important information on identifying forms of elder financial exploitation and reporting suspected abuse to the proper authorities.

Who is at Risk of Elder Financial Exploitation?
Here are some risk factors to consider:

  • Elders most vulnerable to abuse tend to be between the ages of 80 and 89.
  • The majority of abused elders are women.
  • A significant number of elderly individuals experience cognitive decline or cognitive incapacity.
  • Elders are at a higher risk of abuse if they live alone, are isolated from their communities, rely on others for care, or have limited social relationships

Warning Signs of Financial Abuse
No one single thing is proof of elder financial abuse – the following are only possible warning signs. Be on the lookout for:

  • Unpaid bills which the elder should have the means to pay
  • Purchasing or spending behavior that appears to be out-of-character
  • New “best friends” (people who have recently become close to the elder) who are not promoting the elder’s best interests or are claiming a right to funds
  • Sudden changes in an elder’s will, trust, insurance or other financial documents
  • Abrupt or unexplained transfers of assets
  • Confusion about recent financial arrangements or changes

General Prevention Tips for Elders 

  • Talk about your finances only with trusted friends, family and financial professionals. 
  • When possible, use checks and credit cards instead of cash.
  • Exercise caution when providing your financial or other personal information over the phone or Internet, and resist pressure to give someone financial information or access to your financial accounts.
  • Always ask for more information in writing and get a second opinion before changing your power of attorney, wills, trusts, or any of your personal financial information.

Know where to get help if you find yourself, or someone close to you, the victim of financial exploitation
While there are many resources available two agencies that can provide further guidance on this topic are; The New York State Coalition on Elder Abuse at and Adult Protective Service. APS also provides a helpline you can call: 1-844-697-3505.

Additional resources used:

Tonya A McCaughey

VP, Retail Operations Manager

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November 7, 2017

What do Small Business Owners and Banking Relationship Managers Have in Common?

In fact quite a bit. As Rhinebeck Bank Relationship Managers, one of our roles is to attract, retain, assist and empower our customers. The same holds true for business owners in their respective businesses. Over the years through interactions with business owners, we have realized that we do many of the same things in order to be successful, and I’d like to share a few of these things we have in common.

Cash Flow
The most important aspect of financial planning for a small business owner is cash flow. Cash flow is the collective term for the money that is moving in and out of a business in a month. Whether a business is newly opened, or well established, understanding cash flow is essential. Successful business owners understand the cost of the movements, the cycle of movements, and the types of vehicles for moving funds. More importantly they anticipate shortfalls and temporary surpluses, and best short- and long-term solutions to both. As a Rhinebeck Bank Relationship Manager, we must also understand their cash flow. A Relationship Manager’s ability to analyze this thoroughly and offer solutions to increase cash flow, reduce expenses, and solve shortfall or surplus issues is key.

Another important common aspect is attitude. We all “sell” ourselves everywhere and anywhere we go, regardless of whether or not we know it. The way we conduct ourselves to the public, to family, and to friends creates a perception within the minds of others. The attitude we have about the business we are in, and the resulting perception others form, will contribute to the success or failure of a business or bank. We should be positive, supportive, confident, and a pleasure to deal with during every interaction.

As a banker, it is imperative that we network, and the same holds true for business owners. Networking is not just about being at an event or function, but is about making new acquaintances, getting to know your competitors and introducing yourself to as many people as possible. Attending local events allows you to make new connections, re-establish old connections, and strengthen existing connections. Social Media is also a key component for networking. Sites such as LinkedIn, Facebook and others allow businesses to communicate with customers, receive feedback, and network in new ways. Furthermore, we are fortunate to be in the Hudson Valley where Dutchess, Orange and Ulster Counties often have many active networking events making the area a great place to do business.

Follow Up
Communication is a skill that separates great businesses and bankers from the rest. While there are many components of good communication, the most important thing is to follow up. Many businesses and bankers make promises but fail to deliver and/or do not call or visit after a sale or service to ensure satisfaction. Customers remember their experiences, and those experiences are what will cause them to either continue or discontinue doing business with someone. Consistently following up with your customers, and being accessible when they need you, tends to increase repeat business as well as lead to quality referrals.

These are just a few things that small business owners and our Relationship Managers have in common that contribute toward success. Rhinebeck Bank understands the importance of cash flow, a positive attitude, diligent networking, and following up. If you are looking for a banking partner that shares these core values and more, stop by one of our branches and talk to a Relationship Manager.

(Member FDIC)

Peter Sestito

Branch Manager, East Fishkill

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October 31, 2017

Do You Need to Disclose Your Home's Spooky past?

Unless you have purchased a newly constructed home there is always some uncertainty regarding previous “events” in a home. Historically, real estate transactions were based on “Caveat Emptor” (Let the buyer beware). Over time, however, certain exceptions have been established by New York courts that help protect buyers by increasing a seller’s risk of liability for undisclosed defects.

While not technically a “physical defect” there are past occurrences in a property’s history that could cause “psychological damage” to a home. For example, if a home has been the scene of a violent or highly publicized murder or suicide, or has been long reported to be haunted, the house may be considered “stigmatized.”

A stigmatized property could be viewed as less desirable and therefore less valuable in the marketplace. In most states an owner would be expected to disclose this type of defect, potentially causing the house to be viewed as a stigmatized property.

Decades ago, deaths at home were rather commonplace and most homes had a history of “natural deaths.” Most buyers would view these homes as common and customary to the area and such ‘natural deaths’ would not have a stigmatizing effect on value or desirability.

As always, consult your attorney and realtor about what is specifically required in your state. One thing is for certain: when asking a seller about specific situations or defects regarding their property they must be truthful, regardless of any disclosure laws or regulations.

If you must know about potential deaths in a home you’re looking to purchase, you can research online at sites such as “” or “”

Personally I am very happy living with the uncertainty of any of the bumps and noises I hear at night!

Have a happy and safe Halloween!

Vincent Aurigemma

VP, Residential Lending

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October 24, 2017

Buying a Car Without Trying it On?

These days there are so many avenues to buy products online, but what about a car? In this era, shopping online for a car is becoming commonplace. You can easily scan through numerous options without having to drive around to multiple dealerships looking for what you need. There is even an assortment of websites that cater to online car sales. If you decide to shop online for your next ride, be sure you still check out your final selection in person. You can buy a car online but unlike a pair of shoes, you can’t return it if it doesn’t “fit.” Generally speaking, a car is one item that once you have purchased it, you’re stuck with it.

There is no shortage of cars for sale on eBay, for which you can easily pay for with a PayPal account, but even for rare, hard to find classic cars this is risky. Cars often look much better in pictures, especially since a seller can hide unsavory details by taking pictures from certain angles or by not including every portion of the vehicle. Personally, I think buying a car online is quite risky, so I recommend shopping online, then buying in person. In the case of a classic car where the car is very rare or almost impossible to find, transactions on the internet may be more common as collectors and enthusiasts connect from across the country, but you should still do your homework and try to protect yourself. It may be difficult to check out an antique Mustang from across state lines, but perhaps protect yourself by asking the seller if you can pay in cash when you come pick up the car. Then you have a chance to catch any flaws in the vehicle or inconsistencies in the description when you see the car.

In the case of a regular every day car, it may still be best to go to a local dealer. Go shopping for what you need in person so you can see the cars, inspect them, and most importantly, test drive them! Take your time too. You never want to rush into such a large purchase. We have had several customers over the years call the Bank asking if they can return a car to a dealer because they don’t like the car after they get it home. I have even spoken with customers who have bought a car without test driving it. Always test drive a car before buying it! In light of the recent hurricanes and flooding in some states it is also important to be aware of unscrupulous people trying to sell cars out of state that should have been scrapped. Be leery of salvage title cars, and make sure you get a vehicle history report. Take your time, be investigative, and ask for help if you need it! And as always, be skeptical of deals that are “too good to be true.”

Vince Lobosco

SVP, Consumer Lending

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October 17, 2017

First Friday's Friendsgiving:

First Friday Poughkeepsie is coming back November 3rd to kick off the Fall Season with a Friendsgiving celebration at Mural Square. It is FREE to the public, and creates a unique, lively atmosphere that provides entertainment for both adults and children.

Friendsgiving is an event where friends meet together for an enjoyable night in the Heart of Poughkeepsie to kick off the cheerful holiday season. There will be delicious food and beverage vendors, face painting, and a bouncy house for children, along with games and a contest for the entire family. Live entertainment will be provided by the incredible Robert Cahill Band who will be performing during the event.

Mayor Rob Rolison will begin the event with his City of Poughkeepsie update. DJ Smitty will be in the mix and Michelle Barone will be the evening’s host!

Friendsgiving will even feature a Chili Cook-Off judged by visitors like you! Who doesn’t love a warm bowl of chili on a chilling autumn night? Spots are still open for competitors. If you are a restaurant and interested in participating please follow the link below:

Rhinebeck Bank, R.L. Baxter Building Corporation and LCS Companies have come together to put this event on for all to enjoy. Their intention is to help revitalize and unify the City of Poughkeepsie and believe events like First Friday are the first step in this process.

Poughkeepsie has so many new, incredible things happening and First Friday’s Friendsgiving is one way to bring the highly populated Main Street area together.  Poughkeepsie is the last stop on the Metro North Railroad, and has a beautiful waterfront that is surrounded by picturesque landscapes.

To find out more about First Friday Poughkeepsie visit our website at: and like us on Facebook at:

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

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October 10, 2017

The Difference between a Job and a Career

Here at Rhinebeck Bank we have an array of entry level positions. When we interview for these openings, many candidates state that they are “looking for a career, not just a job.” What does that mean? What is the difference between getting a job, and beginning a career? There may be no way to tell exactly what each candidate means when they say this. After all, it very well may mean something different to each person.

When applicants make this distinction to me, as a manager and Human Resources professional, I come to a few assumptions about their work ethic and personality. Here is what the “looking for a career” statement means to me as an employer: 

  • You understand that your position is a learning experience. You take every chance you have to learn – from your manager, from your co-workers, from reading – EVERY chance you have.
  • You consistently go above and beyond. If there is a task no one else wants to do, you do it. If there is a project to be done, you volunteer. If there is a new technology being put in place, you are the first one to learn it.
  • You have a positive attitude. You look for the positive in each situation and try to spread your enthusiasm to others.
  • You look for opportunities to network with professionals within the company and build positive relationships.
  • You set your career goals and you go about achieving them by seizing opportunities, working hard, and following the above principals.

A career requires you to make a personal investment. You are the only person accountable for the energy and commitment you put into your professional growth. In a career, you need to set your goals and work hard to achieve them, essentially making your road to success a journey and not a grind.

Jeanine Borko

SVP, Human Resources

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October 3, 2017

 Are You Satisfied with Your Bank?

How do you feel about your bank? Would you be surprised to learn that a recent survey* shows the vast majority of customers are satisfied with their primary bank?

The survey stated that 89% of those questioned rated their bank as being between “good” and “excellent.” The same percentage stated that they are satisfied overall with the services received from their bank.

When asked to rate their bank on a scale of 1 – 5, with 5 being excellent and 1 being poor, the ratings from Good to Excellent were:

  • Excellent – 36 percent
  • Very Good – 33 percent
  • Good – 20 percent

In the survey, consumers were also asked to identify the three attributes they value most in their bank. The top five responses were:

  • Customer Service – 50 percent
  • Location - 43 percent
  • Little or no fees – 38 percent
  • Security – 38 percent
  • Technology – 21 percent

It is interesting to note that Customer Service came out above all other attributes including products, fees, and even technology. This tells us that even if we step up our technology to match new developments in the industry, our customers won’t be happy unless our personal customer service is still exemplary. We can’t rely solely on speedy, secure technology to keep you happy.

Finally the survey asked one simple direct question, “Are you satisfied with your primary bank?” 89 percent of those surveyed replied “yes.” This is great feedback. It is important for customers to be satisfied and confident in their bank.

So what does this survey tell us? The majority of consumers are more concerned with a bank’s customer service and convenience, than fees and products. Based on the high number of satisfied respondents, it would seem that most banks provide what consumers are concerned about.

As a Local Community Bank, Rhinebeck Bank strives to provide our customers with the highest level of customer service every day. A recent blog by Peter Sestito, Branch Manager of our East Fishkill Branch, discusses one of the ways we provide such service.

While we may not have as many locations as some of the larger regional banks, we are accessible 24 hours per day, via online and mobile banking. You can also use many ATMs throughout the world.

If you are currently a Rhinebeck Bank customer, let us know how we are doing. If you are in the “satisfied” category we would love to hear from you. If you are not satisfied, we would especially like to know what in particular you’d like us to do better. The more insight we can get from customers like you, the more we can do to continue to best serve the community.

If you are one of the minority who are not satisfied with your current banking relationship, give us a call and let us show you how we can better serve you.


Robert Foster

Retail Operations

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September 26, 2017


Finance Basics for Teens and Young Adults

Do you remember your first job as a teenager? The happiness you felt at earning your own money and the freedom to pay for things yourself? Today, teens between the ages of 13 and 18 are most likely to babysit, mow lawns, or perhaps even have their own businesses on eBay or other sites. I know quite a few young entrepreneurs who make money by selling homemade doggie treats, glitter slime, and even buying sneakers and selling them online at a profit! Teenagers are finding new and interesting ways to earn money, so how can we help teach them to use that money wisely?

Start a Budget
Right from their very first paycheck, it’s important for teenagers to learn how to balance between expenses, savings and discretionary money. Start them off with a simple two column budget: 

  • Money earned to indicate each paycheck
  • Money saved/spent to indicate bills, discretionary spending and any money put aside in savings

The visual will help to illustrate the importance of responsible money handling and will help to prevent overspending when used regularly.

Open a savings account
Did you know that at Rhinebeck Bank, a child can open a joint savings account with a parent or guardian as soon as they know how to sign their name? Talk to your teen about saving 25% of each paycheck; this small habit will go a long way towards building healthy financial habits as they get older.

Talk about Credit Cards
One of the most important conversations to have with your teen when it comes to building good money habits is to talk about credit cards. Once your teen turns eighteen, he/she will be eligible to start applying for credit at stores and online. Teach your teen that credit cards are great to have in an emergency, but should never be used for day to day spending unless they will be paying them off in full each month.

Discuss Identity Theft
In an age of breaches and compromises, it’s vital for teens and young adults to understand the importance of protecting their personal information. Here are some simple rules for protecting identity and sensitive information: 

Take the time to talk to your teen about money, credit and protecting their information. Sharing your personal stories about the lessons you’ve learned along the way also helps them to understand the importance of managing money wisely. These basic habits will help them build a strong foundation for financial success.

Yvette Temple

AVP, Customer Solutions Manager
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September 19, 2017

Why Rhinebeck Bank?

I get asked this question quite often when speaking with the public and it is a great question. In fact, sales people typically have a 30 second “elevator” speech prepared as a response when asked about the company they work for. In my opinion, as a Rhinebeck Bank Branch Manager, and representative of the organization, there is not an easy 30 second, answer I can give, and I’d like to tell you why.

Firstly, everyone has different needs and desires. In order for us to tell someone why they should bank with Rhinebeck Bank, we will want to set up an appointment. During the appointment we will ask questions and get to know more about the person and/or business. We take notes. We listen, continue to ask more questions from what we learned, and we will make a recommendation. In many cases, especially for business owners, the recommendation will come a few days after and require a follow up appointment. We understand and respect the importance of people’s time, so we focus on quality of the appointment, and look to provide the best fit for the client. In some cases, we may tell someone that Rhinebeck Bank is not the best fit for their particular needs or business type, and may make outside suggestions. With that said, this is why I love working for Rhinebeck Bank, because we will never have a scripted or generic response, and we focus on doing the right thing.

Secondly, Rhinebeck Bank is founded on relationships. We don’t offer promotional rates just to get you in the door, and we don’t open your account and then send you on your way. We provide you with an ongoing business relationship, personalized products and services, and face-to-face conversations. Our small local size also provides me with direct access to Senior Management to provide solutions designed for you when you need them. As a society we are consumed with advertisements, and impulsive sales techniques that force consumers to make ill-informed or poor choices. At Rhinebeck Bank we are more than just ads and sales. We are your business partner, and without your success, we wouldn’t be around.

Lastly, we are more than just a bank. In general banks have a preconceived perception that is often quite negative. For Rhinebeck Bank to stand out among the crowd, we need to go above and beyond your average bank. We take pride in our ever-growing community presence. Our employees serve on a number of local boards and committees. We frequently sponsor and attend local events, galas, and fundraisers. We’ve even teamed up to sponsor First Friday in Poughkeepsie in an effort to do all we can to better the community and economy in which so many of our customers live and work.

In conclusion, the best answer to the question “Why Rhinebeck Bank?” is to come find out. Sit down with one of us, and let us know what you’re looking to do. If we think we have what you need, we’ll let you know why we’re right for you. But more importantly, if we don’t think we can help you the way you need, we won’t hold you back. We’ll let you know that we don’t have the specific product or service you’re looking for, and we’ll try to point you in the right direction.

(Member FDIC)

Peter Sestito

Branch Manager, East Fishkill

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 September 12, 2017

Our Fall Festivities List:

Fall in the Hudson Valley is one of the most beautiful times of year! There are so many fun things to do and we want to share them with you!

Vineyards and Orchards – the region is full of vineyards and orchards where you can taste local wines, and pick the freshest fall produce. Stop in at Barton Orchards or Fishkill Farms for family apple-picking, or enjoy a glass of wine at Benmarl Winery, Millbrook Winery or many others.

Autumn Colors – the northeast is known for it beautiful arrays of fall colors. Pair that with the many scenic lookout points you can find all over the Hudson Valley and you’ll have a break taking autumn view. Amazing fall sightseeing can be done from the Walkway Over the Hudson State Park, Mount Beacon, Breakneck Mountain and Drayton Grant Park.

Fall Traditions – full of family-owned farms, the Hudson Valley is not short on hayrides, haunted houses, or corn mazes to escape. Stop by nearly any local farm for a breezy hayride through fields and woods, let the kids chase each other through mini corn mazes, and maybe event venture into a haunted barn! Finish the day off with one of the many Oktoberfests held in local cities!

Halloween Fun – from Beacon’s Pumpkin Festival to the Great Jack-o-Lantern Blaze, and from Fall Fun Runs to The Headless Horseman Hayrides, the Hudson Valley has an array of Halloween themed events. We have plenty of scary and spooky, along with family-friendly and fun.

There will even be another crowd-pleasing First Friday Poughkeepsie on October 6th! Don’t miss it.

We can’t wait to share our fall excursions with you on Rhinebeck Bank’s social media pages. Follow us on Facebook, Instagram, and Linkedin! Stay close to find out more about our Fall Festivities List! #RBFallFestivities

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

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September 5, 2017

 “Tis better to give than to receive”?
(Not when working on your down payment and closing costs!)


Hopefully the vast majority of prospective home buyers know that they do not need a large down payment to purchase a home. There are a variety of low down payment programs including a few 100% financing options. But even with low down payment options many borrowers still need some help. One way to help is through the use of “Gift Funds”.

Many borrowers have family members who are willing to help them with their home purchase. The use of gift funds has become very prevalent so let’s talk about the best way to receive a gift.

First of all, gift funds are truly a “gift.” They are not funds given as loans and disguised as a gift. The person giving the gift will need to complete a gift letter which will basically state that the funds are truly a gift and are not to be paid back at any time. Each lender will have their own version of the gift letter or certification to be completed and submitted. Second, the funds will need to be “sourced” through a paper trail that shows the funds coming from the giftor’s account and being deposited into the home buyer’s account.

The best way to document the “trail” of gift funds is by receiving a personal check from the giftor and then depositing that check directly into the bank account that will be used by the buyers in the transaction (savings or checking account). Your lender will need to see a copy of the cancelled gift check along with the account statement showing the full check being deposited. It is best to make this deposit separate of any other funds. For example, if you are receiving a $5,000 gift check, do not put any other checks or cash on the same deposit ticket. You would want a deposit entry of $5,000 only, even if it means making two separate deposits during the same trip to the bank.

Please do all you can to not receive a “cash” gift. The Patriot Act and anti money laundering regulations make it extremely difficult to source and use cash gift funds. These regulations have put strict rules on how lenders document and source assets being used in real estate transactions and are there to ensure that the cash is not the result of any illegal activity.

Lastly, the question of the donor’s gift tax may come into question. The annual gift tax exclusion is $14,000 (which can be given to as many individuals as they would like). However, there is a lifetime estate and gift tax exemption which for 2017 is $5.49 million (yes, million). That is per person, so a couple could possibly gift someone $11.98 million. (We should all be so lucky!!) As always, you should check with your CPA to confirm the use and implications of giving and receiving a gift.

The use of gift funds has helped many home buyers get into a property where they can easily handle the monthly obligations but just need help with the upfront down payment and closing costs.

Happy home buying!

Vincent Aurigemma

VP, Residential Lending

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August 30, 2017

I had the honor of visiting the 9/11 Tribute Museum in Manhattan this past week. Mark Malone, VP Area Sales leader and I traveled down to film our 9/11 Tribute episode of Wake Up with Rhinebeck Bank. This experience was extremely moving. We saw artifacts from the tragic event, learned about 9/11 and heard from survivors. These survivors had so much to share.

One of the survivors was Mark Malone our VP Area Sales Leader’s aunt. She skipped the first path train from Hoboken as it was full and wanted a seat. She decided to wait five minutes for the next train to come. She said that waiting for the next train, “was the best decision I ever made.”

She got emotional explaining that she was getting to the World Trade Center Station (underneath the buildings) as the first plane hit the north tower. Upon getting out of the train she listened to a Port Authority police officer yelling “run for your life, run for your life.” She was in shock, and had no idea what was going on but followed the instructions and ran as fast as she could. Had she been on the earlier train, she would have most likely been in the elevator on the way to her office on the 61st floor. She found herself in a state of confusion. After calming down a bit, she knew she needed to help others.

She completely changed from this horrific experience and later went on to volunteer at the 9/11 Memorial and Museum to share her story and to make sure the event’s history is being preserved and honored.

For me personally, hearing this first-hand from someone who lived through it brought me to tears. She lost almost everyone she knew – people she saw each and every day. She worked there for years and years and knew hundreds of people. I cannot imagine experiencing such a loss.

As we spoke to others who lost loved ones who served as firefighters and rescue personnel, they seemed to stand proud that their family and friends died doing what they loved and that they died saving others.

This was a rare moment and something I will personally never, ever forget. The extent to which people leap into action to save others at their own risk is always heartwarming. So many people innocently lost their lives that day, and so many more lost their lives trying to do everything they could to save complete strangers.

If you ever are in the city and have the time, stop down to visit the 9/11 Tribute Museum - they have so much to share and do everything they can to find out stories from real survivors.

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

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 August 22, 2017

Rhinebeck Bank Mentors Employees of all Levels 

Last year Rhinebeck Bank started a Mentor Program for our employees. The goal was to attract quality new hires, develop leaders within our organization, and retain high-potential employees. We are happy to say that we recently rolled out our second class of Mentors/Mentees, and have more than 50 employees participating in this very well received program. 

A Mentor Program pairs a more experienced professional with a less experienced individual. The focus of the mentor/mentee relationship is to support the growth and development of the mentee, with the mentor being a source of support, insight and knowledge.   

Rhinebeck Bank has invested the time to develop a formal Mentor Program. We care about our employees and want to offer and encourage participation in a program where employees experience professional and personal growth.   We want to train our employees by providing them with the opportunity to develop and exhibit leadership skills.  

Not all employers have the time and resources to devote to a formal Mentor Program.  A successful Mentor Program takes a lot of commitment from mentors, mentees, managers and executives.  But the lack of a formal Mentor Program with your employer does not mean you cannot enter into a Mentor/Mentee relationship elsewhere.  Think about your professional and personal networks.  Who do you admire? With whom do you share common interests?  Professional growth can occur from interaction with others through work, meetings, organizations, etc.   A mentor can be your boss, a teacher, a neighbor, a relative, a colleague, etc.  The important thing is to know what your mentor partnership goals are.   Well-defined goals will help your mentor know what it is you would like to accomplish, establish the work to be done, and maintain the focus of the relationship.

Take charge of your career by seeking your own mentor pairing.  Be the one to define your goals and achieve what you set out to do.  Your career will thank you for it.

Jeanine Borko

SVP, Human Resources

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August 15, 2017

Americans Support Having Banks of All Sizes

In a previous blog I wrote I asked the question, "will brank branches disappear?" In that blog I made the following statement:

“As a local Community Bank, we see the importance of locations where our customers can conduct business with a financial professional, whether it is a simple cash transaction with a teller or a complex transaction where a face to face meeting with a Banker would be helpful.”

In a recent survey conducted by the American Bankers Association, 79 percent of those surveyed understand the role that local banks play in supporting community events, as well as providing financial education. In addition, 87 percent agree that local branches play an important role in supporting local businesses. A large majority of respondents (87%) feel it is important to have a local branch easily accessible from their home as well, with 67 percent saying it was important to have a branch nearby, even if it is not their own bank’s branch.

The results of this survey demonstrate that the public is as concerned with the decline in the number of banks as we are, decreasing from 8,600 in 2007 to 5,900 in 2017. People, like you, understand that although increases in Mobile and Online Banking are highly convenient, that there is still a need for easy access to knowledgeable, local bank employees. Local bank branches are essential to communities. They offer banking relationships and services for small business owners, support local non-profits and community events, provide a convenient place for families to start teaching children to save money, help young adults finance their first car, and so much more.

The results of this ABA survey confirm Rhinebeck Bank’s belief that our branches are an important part of the communities we serve. Even if you conduct most, or all, of your business without coming into one of our branches, you can be assured that we will be there should you need or desire to talk to a professional in person.


Robert Foster

Retail Operations

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August 8, 2017

Healthy Money Habits to Start With Young Children

When exactly is the right age to start teaching children about money? My opinion is that it’s really never too early to start! In fact, the earlier you can start to talk to kids about money, the more those lessons will stick with them as they grow up. Here are some great tips to help kids as young as three or four start to understand the importance of money:

Piggy Banks:
Special containers where children can keep birthday or holiday money are a fun way to watch their savings grow! You can buy an actual piggy bank, or get creative by using a clean coffee can or Mason jar and decorate it with stickers, construction paper and crayons or markers!

  • Use the piggy bank to start a smart savings habit: Teach your child to put 50 - 75% of the money they receive into the piggy bank and let them spend the rest. They’ll have the satisfaction of purchasing something for themselves and they’ll see how their savings adds up over time!

Coins and Counting Change:
Kids begin to learn about coins and money as young as preschool and kindergarten. You can help reinforce their schoolwork with some great activities at home or on the go:

  • Group quarters, dimes, nickels and pennies and count how much change there is
  • Ask your child which groups of coins can equal one coin (i.e. what coin equals 5 pennies?)
  • Pay with cash at the store and ask your child how much change you should get back from the cashier or what types of coins would make up the amount of change needed

Take the Time to Explain Everyday Transactions:
Children watch us use money every day while grocery shopping, buying gas, having dinner at a restaurant or taking cash out of an ATM.

Have you ever asked a child where he or she thinks the money in an ATM comes from? You’d be surprised with the answer: most young kids think that the ATM just hands out money as long as you have a card and punch in a few numbers! Take a minute to explain to your child that the money has to be available in your account when you use an ATM: if you don’t have any money, the ATM can’t give you any cash. Explain that the same is true for making purchases with a debit card too!

Teaching young children some of these simple habits builds a foundation for smarter money handling as they grow older. Stay tuned for my next blog post to learn about tips for teaching teenagers healthy money habits.

Yvette Temple

AVP, Customer Solutions Manager
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August 1, 2017

Fighting Business Email Compromise (BEC)

According to the FBI’s Internet Crime Complaint Center (IC3) between October 2013 – May 2016 there were 15,668 domestic and international victims of BEC. The combined exposed dollar amount losses of these crimes totaled $1,053,849,635.

What is BEC?

The victims of the BEC scam range from small businesses to large corporations. Over the years, the victims continue to span a wide variety of goods and services, indicating that a specific sector does not seem to be targeted. It is largely unknown how victims are selected; however, the subjects monitor and study their selected victims using social engineering techniques prior to initiating the BEC scam. The subjects are able to accurately identify the individuals and protocols necessary to perform wire transfers within a specific business environment. Victims may also first receive “phishing” e-mails requesting additional details regarding the business or individual being targeted (name, travel dates, etc.).

How Does BEC Typically Work?

Based on IC3 complaints and other complaint data, there are five main scenarios by which this scam is perpetrated. BEC victims recently reported a new scenario (Data Theft) involving the receipt of fraudulent e-mails requesting either all Wage or Tax Statement (W-2) forms or a company list of Personally Identifiable Information (PII). This scenario does not always involve the request for a wire transfer; however, the business executive’s e-mail is compromised, either spoofed or hacked, and the victims are targeted in a similar manner as described in Scenario 2 of the BEC scam.

Scenario 1: Business Working With a Foreign Supplier
Scenario 2: Business [Executive] Receiving or Initiating a Request for a Wire Transfer
Scenario 3: Business Contacts Receiving Fraudulent Correspondence through Compromised E-mail
Scenario 4: Business Executive and Attorney Impersonation
Scenario 5 : Data Theft

*For full descriptions of each scenario visit

The FBI offers the following representation of a typical BEC timeline:

Image sourced from:

How Can I Protect My Business?

  • Create intrusion detection system rules. They flag emails with extensions that are similar to company email. For example, a legitimate email of would flag as a fraudulent email.
  • Register all company domains that are slightly different than your company’s actual domain.
  • Confirm requests for transfer of funds (when using phone verification as part of the two-factor authentication, use previously known numbers, not the numbers provided in the email request).
  • Verify changes in vendor payment location by adding additional two-factor authentication, such as having a secondary sign-off by company personnel.
  • Be suspicious of wire transfer payment requests with secrecy or pressure to take action quickly.
  • Know the habits of your customers, including the details of, reasons behind, and amount of payments.
  • Carefully scrutinize all email requests for transfer of funds to determine if the requests are out of the ordinary.
  • Be wary of free, web-based email accounts, which are more susceptible to being hacked.
  • Be careful when posting financial and personnel information to social media and company websites.

“The best way to avoid being exploited is to verify the authenticity of requests to send money by walking into the CEO’s office or speaking to him or her directly on the phone. Don’t rely on e-mail alone.” Martin Licciardo, special agent, FBI Washington Field Office

What If It’s Too Late?

If you believe your firm has been a victim of BEC, or if you can confirm that funds have been transferred to a fraudulent account, it is important to act quickly.

  • Contact your financial institution immediately upon discovering the fraudulent transfer.
  • Request that your financial institution contact the corresponding financial institution where the fraudulent transfer was sent.
  • Contact your local FBI office if the wire is recent. The FBI, working with the U.S. Department of Treasury Financial Crimes Enforcement Network, might be able to help return or freeze the funds.
  • File a complaint, regardless of dollar loss, with the IC3.

It’s hard to guard against determined scammers, but knowing how they work can help. You can gain information about protecting your business by reading the Public Service Announcements provided by the FBI.


Tonya A McCaughey

VP, Retail Operations Manager

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July 25, 2017

To Co-sign or not to Co-sign

Should you co-sign for someone if they ask you? Well… you really need to think long and hard about this and make sure you’re ready and able to take on that responsibility. People often get confused when they hear the term co-sign. Sometimes people think they are not really responsible for the debt; they think they are merely helping someone out. Make no mistake; if you co-sign a loan for someone, it is exactly the same as if you borrowed the money yourself! By co-signing on a loan you are accepting full responsibility for payment of that loan, including late charges and any fees associated with collecting the debt.

When someone is interested in co-signing, but still somewhat hesitant, I often recommend that they may consider being primary on the loan. By going first on the loan, they ensure that they get the initial contact from the bank if the loan is late and can address it ASAP before it goes delinquent by 30 days or more. If you don’t want to go first on the loan - perhaps you are co-signing for one of your children and want them to feel like it’s really their loan - just be prepared to stay on top of the loan to catch any issues early.

One of the most common co-signing problems we see is the non-related co-signer. For example, a boyfriend /girlfriend situation where one has bad credit and the other has good credit. We see it time and time again, where intentions are good, but the couple breaks up and the loan isn’t being paid. Then the co-signer is told they need to pay and quite often says “but, that’s not my loan. I just co-signed for them.”

Be careful. Think about the relationship between yourself and the person asking you to co-sign. Also consider the amount of the loan: is it too much for that person? Do you want to co-sign for a $30,000 truck loan for a friend? Do you even have a loan that size yourself? Could you pay it if you had to? We often see scenarios where the person needing a co-signer is looking to start out in a vehicle that is much too expensive for their first loan. If you are agreeing to co sign, you can say “let’s try to find something cheaper than this to get you started.” Just remember that at the end of the day, whatever you have agreed to, it’s still your responsibility to pay if the borrower does not live up to their end of the bargain.

Vince Lobosco

SVP, Consumer Lending

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July 18, 2017

Important Pre-Approval Do’s and Don’ts

I have spent nearly 15 years consulting borrowers on mortgage financing. In that time, I have seen a great number of scenarios and questions come up after people have received their pre-approvals. Some issues have derailed their plans for a new home while some small mishaps have been easy to navigate around. All of them, however, have caused additional documentation and worst of all, additional time in the process! Let’s look at a few do’s and don’ts to keep in mind AFTER you receive your pre-approval.

1. Continue to make ALL of your payments on time. Nothing will jeopardize a pre-approval quicker than a recent late payment on your credit report. “I thought I would have been moved out by now” is not an excuse an underwriter wants to hear when they find you have a collection account from your cable company.

2. Keep saving money by putting it into your “current” accounts. (Will talk more about bank accounts in the “Don’ts”)

3. Communicate any potential changes in employment, assets, or your credit situation with your Mortgage Loan Officer. They can help you understand how a change may affect necessary documentation or how to prepare letters of explanation when necessary.

4. Try to be understanding. Your loan officer is not making their own list of documents they think you should submit. The investors (Fannie Mae, Freddie Mac, FHA, etc.) have their list of necessary items depending on your financial and credit profile. Things can change depending on what certain documents tell us. In essence one document could contain information that makes it necessary to get yet another document. Mortgage Loan Officers don’t like it any more than you do. The quickest and easiest way to arrive at the closing table is gathering all you are asked for as soon as you can.

5. ASK QUESTIONS!! This is very important. You should have an understanding of every step in the process and why someone is asking you for a document. (Yes, we do need ALL pages of a bank statement, even if they are blank! Why? Because an underwriter doesn’t know the page is blank unless they have it!!)

6. Tell your Loan Officer the full story. We all have things in our past that we would rather not tell a stranger. We are not there to judge you or your circumstance. You will be surprised at how many of us can give you guidance from our own experience both professional AND personal. Give us a chance to listen.

1. Make any debt payments more than 30 days past their due date! (See DO #1 above!)

2. Apply for new credit or make a large purchase. I always tell borrowers they can look through the furniture store window and pick out what they would like, but they can’t go inside until their loan is closed! New credit can negatively affect your credit scores and a large purchase can affect your assets needed for the transaction. (Exceptions exist if it is a necessity for work, health, etc. Always discuss these circumstances with your Mortgage Loan Officer)

3. Quit your job* or decide it’s time to start your own business. This seriously affects your continuation of income and could cause you to wait until you have more than a year of self-employed tax returns. (*Unless it is a promotion and is in the same field or profession)

4. Open new bank accounts or move your money around. You don’t need to open the “house savings account”. With the Patriot Act and other money laundering laws in place, lenders must scrutinize a borrower’s assets to ensure they are truly being generated through their income sources. Moving funds around in new and different accounts will need to be tracked and possibly sourced. Keep putting your paychecks in your current accounts. And please, no “mattress money”. All cash deposits need to be sourced and could potentially lead to having these funds not being eligible for the transaction.

5. Give your landlord the date you plan on moving out. You haven’t found a house yet, gone to contract, or even come close to setting a closing date.

Vincent Aurigemma

VP, Residential Lending

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 June 30, 2017


Happy 4th of July - Find Your Event List Here

As we all know the 4th of July is a national holiday celebrated with family, friends, food and fireworks. Here are some fun local things you can do this year right in our local area:

City of Kingston Fireworks Festival
Time: July 4th - 9:30PM
Place: On the historic Rondout Waterfront
Admission: Free
Enjoy live music at 5PM, in T.R. Gallo Park featuring Ivory Rose, Mr. Kick, and Hot Rod. Have dinner at one of the many restaurants or bars, and then find a spot to enjoy the annual fireworks display!

Hyde Park Parade
Time: July 4th - 10AM
Place: 4060 Albany Post Rd, Hyde Park, 12538
Admission: Free
Join this year’s Hyde Park Parade -Celebrating 100 years of Service of the NY State Police. The parade starts at the Roosevelt Theaters and travels north to Main Street.
For more information visit the Town of Hyde Park’s website at:

City of Poughkeepsie Fireworks at the Walkway Over the Hudson / Waryas Park
Time: July 4th- 7PM – 10PM
Place: Waryas Park, 1 Main Street, Poughkeepsie, NY 12601
Admission: • $12.50 at Walkway Over the Hudson
                   • Free at Waryas Park
The City of Poughkeepsie’s annual fireworks spectacular on July 4th can be viewed either from Waryas Park (free of charge) or from up on the Walkway Over the Hudson State Historic Park.
For more information:
• Call the City of Poughkeepsie at (845) 451-4072 or visit their website at:
• Call the Walkway Over the Hudson at (845)454-9649 or visit their website at:

Great American Weekend in Goshen
The Great American Weekend is a tradition that defines Goshen as a Great American Community. You are invited again to come out to this patriotic family event!
To learn more visit the Goshen Chamber of Commerce website at:

Beacon Fireworks
Time: July 3rd – 3PM – Fireworks at Dusk
Place: Memorial Park
Admission: Free Enjoy Fireworks in one of the most beautiful parks in the Hudson Valley! Bring a blanket or chairs to enjoy the show! There will be music, food and, great merchandise vendors and tons of Kids Activities! Music provided by our Hosting DJ King Cyrus.
Find more event information visit the event page on Facebook by clicking the following link:

Bannerman Island 4th of July Fireworks Tour
Time: 12:30PM
Place: Long Dock - Beacon Point Park - Long Dock Rd Beacon, NY 12508.
Enjoy a boat ride to Bannerman Island on The Estuary Steward followed by a guided tour of Bannerman’s Castle and residence on Pollepel Island. You’ll see a Fireworks display after the tour.
To learn more visit the Bannerman Castle website at:

If you’re looking for more activities this weekend in our local area, check out local community calendars below:
Hudson Valley Magazine website:

Dutchess Tourism’s website:

Have a Safe and Happy Holiday Weekend!

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

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 June 27, 2017

We recently hosted our first Career Fair!

After marketing the event through numerous platforms, we had a high turnout of attendees. Candidates were able to meet hiring managers on the spot, and go over their resumes and experience. Many new connections were made. Overall, the event was a great success.

We will host another Career Fair in the Fall and look forward to meeting even more interested and qualified candidates. If you plan on attending our next Career Fair, or any Career Fair for that matter, here are some tips:

• Bring multiple copies of your resume: You may meet with more than one manager and each will appreciate a copy for their records.
• Dress appropriately: You can never be overdressed when meeting with a potential employer, but you can be underdressed.
• Do some research: Be prepared to speak about why you want to work for the company in question. Show that you understand the company and its goals.
Have your “elevator pitch” ready: Know your strengths and interests, and be able to explain how you can apply them to the job you want.
Follow directions: If you are asked to provide additional information, or to follow up with an email or phone call, etc., do it!

We look forward to seeing you at our Fall Career Fair!

Jeanine Borko

SVP, Human Resources

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 June 20, 2017

How to use our Mobile App and Mobile Website:

Step 1: Download and open our new app on your smart phone or tablet. (If there is not a compatible App for your phone/device, go to to use our mobile website.)

Step 2: Log in with your username and password for online banking.

Step 3: Answer the validation questions presented to authenticate your identity. (You will NOT be asked these questions again.)

Step 4: Key in your mobile number. (If using a tablet without a mobile number, key in your home phone number.)

Step 5: Read and accept our terms and conditions. Click enroll.

When logging on in the future you will only be asked for your username and password.

With our Mobile App or Mobile Website you can…
• Deposit Checks
• Check Account Balances
• View Account History
• Make Transfers*
• Pay Bills
• Text Banking
• Locate Branches and ATMs near you

Download the app for your smart phone or tablet today!

*External Transfers are not available within Mobile Banking. Only internal transfers to accounts you are an owner of can be performed.

(Member FDIC)

Michelle Barone-Lepore

SVP, Marketing

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June 13, 2017

How to Make the Most of Summer Travel

It’s hard to believe another school year is at an end! Spring has officially blossomed into summer! Who wants to worry about finances and banking when you can be lying on the beach or hanging out at the lake house? We’ve got some great tips to help make your summer vacation a breeze…

Call your bank to place a travel alert on your card. Your bank’s fraud detection service is a wonderful resource to protect your money, but it will be a huge source of frustration if your card is blocked when you stop for gas and drinks on the interstate. Be sure to tell your bank a few days before you leave where you will be traveling and when so your card is less likely to be declined for possible fraudulent activity.

Update your contact information with your bank. Does your bank have your current cell phone number? Will you be staying in one area for an extended period of time and need your account statements sent there? Did you know that your bank statements may not forward to a seasonal address? Your bank should have up-to-date contact information on file to make it easy to keep in touch with you in case there are any questions or concerns about your account while you are away.

Schedule payments ahead of time with Bill Pay to ensure your bills are paid while you are traveling. Vacations are no fun when you wake up in the middle of the night in a cold sweat because you forgot to pay your car insurance or the electric bill. Use Bill Pay to establish your payees, then schedule the payment dates and amounts to be paid before you leave so that you won’t have to worry about forgetting a due date.

Set a budget for your trip and stick to it. Sit down and think about how much you want to spend on airfare, hotels, rental cars, food, entertainment and souvenirs. Write down the maximum you can spend in each area and keep it with you while you travel to prevent you from overspending.

Have more than one payment option available to use. Don’t just rely on one debit or credit card to make all of your purchases while on vacation. Emergencies happen; be sure to bring at least three forms of payment, including a bit of cash or the area’s currency if traveling outside the US.

Check your balance on the go with your bank’s app or text banking service. Most financial institutions offer a mobile app and text banking for accessing your account balances and history on the go. When logging into your account, be very careful not to connect to a public Wi-Fi connection; keep your information safe by using a hotspot on your phone or a secure connection.

Yvette Temple

AVP, Customer Solutions Manager

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June 6, 2017

Mobile Banking – is it secure?

Mobile banking utilizes the best practices from online banking, such as HTTPS, 128-bit SSL encryption, password access and application time-out when your phone is not in use. If you enroll from a certain phone, only that phone can access your accounts. In addition, no account data is ever stored on your phone. In the event that your phone is lost or stolen, you should contact your mobile service provider immediately to stop all wireless service. Additionally, you should sign in to online banking and disable or remove your phone.

At Rhinebeck Bank enrolling in online banking, confirming your identity, enabling your bank accounts and creating a secure sign-on will enable you to download Rhinebeck Bank’s App and register your mobile device*.

Once registered, Mobile Banking will allow you to:

  • Review Account History and Check Balances
  • Make Transfers and Pay Bills
  • Deposit Checks
  • Utilize Text Banking
  • Locate Bank Branches and ATMs

Text Banking is banking at your fingertips! It is a fast, easy way to obtain account information via SMS text messages on your phone. Once activated, you can text** short codes to a designated banking number to get immediate information about your account!

In this busy world, not only is Mobile Banking convenient but it also allows you to monitor your accounts daily and identify any unusual or suspicious activity in order to promptly report this activity.

Visit our Mobile Banking Page to learn more!

*Requirements may vary from bank to bank when securely registering for Mobile Banking.

**Message and data rates may apply when using Text Banking.


Tonya A McCaughey

VP, Retail Operations Manager

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May 30, 2017

Will We Become a “Cashless Society”?

Do you often use cash or checks? Do you avoid merchants who don’t accept card payments or mobile payments?

It is thought that the United States first began “writing checks” in 1681, and later officially printing checks in 1762.*

An earlier Rhinebeck Bank Blog titled “The Downfall of the Check,” pointed out that checks used to be the only alternative to cash and discussed how check usage has been declining in recent years.

Advances in technology, however, over the last few decades have led to a rapid rise in alternatives to cash, as well as checks. Both were initially replaced by debit and credit cards, but there are now new digital alternatives such as making a payment via a smart phone or smart watch.

Does this mean we are on the way to becoming a cashless society?

A recent ING survey found that 68% of respondents “would rather visit a shop that only accepted cashless payments instead of just cash.” ** This survey, which was administered across Europe, the United States and Australia, found the following:
     78% of those who used cash less often in the past 12 months expect to continue to reduce their cash use
     34% of Europeans would go completely cashless if they could
     21% of Europeans rarely use cash at all
     1% of Europeans have not needed to use cash for at least a year.**

Another statistic from the survey found that when asked “Do you generally carry cash?” 21% of Europeans and 34% in the USA responded either “no-not often” or “no-almost never”. I found it interesting that the USA had more respondents who do not carry cash than Europe. This would seem to be the opposite of the trend in acceptance of the EMV “chip card” technology where it was widely accepted and implemented in Europe some time before being accepted in the US.

However the survey also noted that 76% of Europeans and 75% of people in the United States say they will never go completely cashless.

There are many pros and cons to the cashless society debate, including privacy issues, safety and security issues, and economic issues. And it seems the debate will go on for some time. Just as the demise of the check has not come as swiftly as some predicted, the decline in the use of cash does not mean it will go the way of the dinosaur either. It is likely to stick around for a quite a while.

We at Rhinebeck Bank are happy to accommodate your cash needs at any of our local branches and at thousands of ATMs throughout the world.

*The Brief History of Checking

**ING Survey; a cashless society is coming, 26 April 2017

Robert Foster


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 May 23, 2017

Why Wake Up with Rhinebeck Bank?

Why Wake Up with Rhinebeck Bank? Because Wake Up with Rhinebeck Bank brings you information about our local businesses, communities and local non-profits! We share stories from the very people you see each day! Rhinebeck Bank delivers you important local information that you may not otherwise hear about, in an entertaining way.

Take the show with Rob Rolison, Mayor of the City of Poughkeepsie for example, he told us about his new First Friday initiative to help revitalize the City of Poughkeepsie. First Friday is a monthly celebration of Poughkeepsie's cultural, dining and entertainment offerings with the goal of increasing business and tourism. This is an effort that many people have interest in and would love to learn more about. This is just one example of how Wake Up with Rhinebeck Bank shares incredible content about our community.

We’ve featured a tremendous amount of local guests such as, Michael J. Quinn, President & CEO of Rhinebeck Bank; Marcus Molinaro, Dutchess County Executive; Andrew O’Grady, Executive Director of Mental Health America of Dutchess County; Kim Kenyon, Owner of Gold’s Gym; Brian Doyle, Executive Director of Family Services; Karen Zobel, CEO of the Community at Brookmeade; Michael Arteaga, Owner of Mike Arteaga’s Health and Fitness; Andy Imperati, General Manager of the Dutchess County Agricultural Society; Joe Lepore, President of LCS Companies and many others!

In 2017, continue the journey with us by watching Wake Up with Rhinebeck Bank as we bring you stories from our region’s leaders. Our goal is to help you learn more about the Hudson Valley and to get more involved in our local community. What’s better than supporting the community in which we live?

Find out what our guests have said about Rhinebeck Bank by clicking the link below to our “Customers Tell All Video”:

To watch Wake Up with Rhinebeck Bank visit every Monday morning at 8AM, or follow us on Facebook to find out all of Rhinebeck Bank’s happenings.

If you’re looking for exposure for your business or non-profit and want to be a guest on Wake Up with Rhinebeck Bank please email! We can’t wait to hear from you!

Michelle Barone-Lepore

SVP, Marketing

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 May 16, 2017

What a difference a month can make!

Last month I discussed whether it was a “great time to list your home?” I commented on the lack of inventory coupled with high demand for housing and the dilemma of those factors not forcing an increase in home values. We posed the question of why the law of supply and demand didn’t seem to be in affect in our area.

Well, that question was answered in a resounding way. In a review of the April 2017 sales statistics, our high demand rewarded home sellers with an increase in current average sales price of 25.6%.* This represents a real dollar average increase of $50,483. The current median sales price has also increased by $19,250.* Remember, the median sales price reflects the mid-point of the market, meaning there were an equal amount of sales both above and below that price point. This increase in the median sales price tells us that the increases are not just the result of a handful of high priced sales driving the average, but that the market as a whole is showing improvement.

This is a great sign for our area and for residents who would like to list their home but have been lacking the equity to do so. This increase in sales price also bodes well for future sales that rely on these current “sold comparable homes” that are used by appraisers. Since appraised values are based on the most recent homes sales, the closed sales in April will help support current values.

Only time will tell if this increase will become a trend and not just a one time “blip” on the radar. What I can tell you is that I still consistently hear stories from home buyers, sellers, and realtors that quality homes are receiving multiple offers, above asking price, on the first day being listed. Bidding wars are now commonplace with new homes coming on the market.

It is important to remember that there are always two sides to every situation, and rising home prices, while beneficial to sellers, can be detrimental to some buyers. Once home prices rise to the level where it affects market affordability we will see the ebb and flow of supply and demand begin to move prices against sellers.

Let’s all hope that change does not come soon and we can allow housing appreciation to benefit our homeowners and allow some much needed inventory to enter the market.

*Mid Hudson MLS, April 2017 Sales Statistics

Vincent Aurigemma

VP, Residential Lending

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May 9, 2017

Congratulations Graduates

To all the graduates out there – CONGRATULATIONS! Remember how you spent the last four years putting in the hours necessary to succeed? Unfortunately your years of hard work aren’t over.

Wait, what?!

That’s right. Your potential future employer may be impressed that you have worked hard, learned some interesting things, and achieved good grades, but now is not the time to plateau. What most college graduates have is potential, and many employers can see that, but it’s up to you to show them just how much of it you have! This is merely the beginning of your career. It is up to you to prove in your interview that you have those implied skills, and to then put in the work to turn those skills into true value for your organization. You can be anything you want to be, but only if you have the skills to do the job and the drive to succeed.

Once you land a job, establish a professional image from day one. You can do this by being on time every day, finding ways to be proactive, taking pride in your work, helping others do their job well, and growing into your role by learning from your mistakes. Employers need self motivated employees who are dependable, take initiative and who offer ideas and solutions for improvement.

A strong work ethic, honesty, integrity and a positive attitude will help contribute to a successful career in any field.

So again, Congratulations! But remember, your journey has only just begun!

Jeanine Borko

SVP, Human Resources

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 May 2, 2017,

Regulation D: What Every Customer Should Know

Have you ever received a message, phone call or notice in the mail regarding excessive transactions and Regulation D (“Reg. D”) from your bank? It’s a pretty common occurrence in a world of electronic access to accounts via online banking, mobile banking, debit cards and ACH transactions. So, what exactly is Reg. D and what are excessive transactions?

Reg. D is part of the Federal Reserve Bank’s monetary policy: it imposes account limitations and reserve requirements for non-transaction accounts at all depository institutions such as savings banks, credit unions and commercial banks. The regulation requires that depository institutions place funds on reserve with the Federal Reserve Bank in proportion to the deposit balances in their customers’ non-transaction accounts and limits customer withdrawal activity on these types of accounts.

Let’s break down Reg. D and take a look at how it can impact you:

The excessive transaction limitations for non-transaction accounts within Reg. D apply to savings and money market accounts – these are deposit accounts that are meant to be a source of savings and, by nature, should have little to no withdrawal volume. Reg. D specifically outlines transactions that can be done on a limited basis from a savings or money market accounts and limits any combination of the restricted transactions to six per statement cycle. When the total of restricted transactions processed in a statement cycle is more than six, the additional transactions are known as excessive transactions.

Per Reg. D, the following transactions are restricted to a combined total of only six transactions per statement cycle on a savings or money market account:
• Transfer or payment requests from the account made via online banking (including bill pay and mobile banking), or by telephone, email and fax
• Debit card purchases (POS)
• Pre-authorized transfers, withdrawals or payments to a third party (ACH and wires)
• Transfers to non-loan accounts at the same institution
• Transfers to provide overdraft protection on another account at the same institution
• Checks or drafts made payable to a third party

The following withdrawals can be done in unlimited numbers on a savings or money market:
• In person at a branch location
• ATM (Withdrawal or Transfer)
• By mail or messenger

Depository institutions are required by law to monitor excessive transactions and ensure that customers are not exceeding the imposed limits outlined by Reg. D. Exceeding the allowed transactions on a savings or money market account may result in fees assessed for each excessive transaction processed. If you continually exceed the transaction limitations, your financial institution may reclassify your account type, take away your ability to perform any restricted transactions in the future, or close your account.


Yvette Temple

AVP, Customer Solutions Manager
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April 25, 2017

Deposit Automation ATMs
What are they, and what are the benefits?

Automated Teller Machines (ATMs) are a staple of modern society. First put into use in 1967 by Barclays Bank in north London, there are about three million ATMs worldwide today. Billions of people throughout the world use these devices to conduct the most basic banking functions. Not only do they provide convenient access to cash withdrawals, they allow customers to check their balances, transfer funds between accounts, and most importantly make deposits.

Depositing cash or checks at an ATM has always been a bit of a hassle. It required filling out deposit slips, inserting the entire deposit into an envelope, manually entering the total deposit amount, and using a complicated interface to complete the transaction. Even worse, customers would need to wait to have these funds available to them.

These issues have been remedied by Deposit Automation ATMs. These machines are outfitted with modern components such as check scanners, cash acceptors/recyclers, deposit processing software and built-in fraud/counterfeit detection. This new technology allows customers to simply insert their debit card, insert their signed checks or cash, and let the machine take care of the rest. These machines are even designed to ask for clarification if they are unable to read a check, allowing a customer to manually enter the check amount if needed. Deposit Automation is allowing banks to drastically improve funds availability and allow for true 24/7 banking. This also reduces the need for customers to speak with a Teller to complete basic transactions. There has already been a dramatic increase in transactions at the new, automated ATMs. By cutting down on the need for in-branch transactions, banks can enhance customer service by allowing employees to spend more time on each customer interaction while providing more options to the customers who prefer quicker or more convenient methods of service.

Rhinebeck Bank is continuing to roll out more Deposit Automation ATMs at additional branch locations this year, as part of our effort to continually expand our self service delivery channels.


Dawn Scherer

SVP, Operations and Technology

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April 18, 2017

Local. Involved. Responsive. What does it mean?

Rhinebeck Bank is a Community Bank; we are a bank that is centered in this community and focused on this community’s growth. We pride ourselves on having the products and services you need for your journey. Our goal is for you to save, your business to grow, and for our communities to thrive. We achieve these goals by being: Local, Involved, and Responsive.

Rhinebeck Banks believes in the local community. We live local and we know the people here. We have an understanding of the area, the businesses that flourish in our community, and most importantly we know YOU.

The Hudson Valley has many charity organizations, volunteer groups and other not-for-profits that work hard everyday to improve our communities. We at Rhinebeck Bank do our part to promote their events, volunteer when they need helping hands, and donate funds because we believe in being involved and supporting these valuable organizations.

We believe your opinions matter. We consistently respond to your wants and needs. We match our products and services to the needs of our local community.

Take the example of one of our customers featured on Wake Up with Rhinebeck Bank, Don Veith of Veith Electric. He certainly knows the value of our service. On Wake Up with Rhinebeck Bank Don said, “I believe you guys brought us to the next level through our line of credit.” With 45 employees with different specializations, Veith Electric handles everything from a small residential repair to large commercial electrical installation. Veith says banking with us feels like being a part of a business family, and he credits his business’ success partly to Rhinebeck Bank and our dedication to quality service.

Michelle Barone-Lepore

SVP, Marketing

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 April 11, 2017

ATM Fees: Why do I have to pay a fee to get MY money?

CONVENIENCE: what does that mean to you? In today’s fast paced world convenience is an important factor for many people as they go about their daily routine.

For some, convenience is not the first consideration. Some people may go to a particular gas station for the price or the brand of gas. Some go to a certain grocery store because they like the variety in the store or the meat or produce they can get there.

However, there may be times when convenience takes precedent, such as when your tank is almost empty and you stop at the next most convenient gas station, where the price is a little higher. Or you may just need a quart of milk, or loaf of bread, and stop at the local “convenience” store where you can run in and out instead of into the larger grocery store. In each of these cases you make the decision to pay a little more, if needed, for the convenience. We all make decisions every day based on many factors, some we can plan ahead while others can come up on us unexpectedly.

An example of convenience today is “bagged salad”. People will pay a higher price for lettuce, or a mix of salad greens, that have already been cut, shredded, and washed, in order to avoid preparing their own salad. The extra steps involved in putting together that “bagged salad” add expense to the final product.

So what does all of this have to do with getting MY money from MY account?

Well, think about this: where did you deposit your money? When you go to the financial institution to withdraw your money, do they charge a fee? Granted, there may be fees associated with the type of account you have, but they are normally not tied to withdrawing cash from the account.

The arrival of ATMs in the early 1980s made it very convenient for customers to obtain cash without having to go into their branch (when it was open), write a check, wait on line, see a teller, wait for the teller to process the check and hand you the cash. You could walk up to an ATM (24 hours a day), and access your cash very quickly.

Then, with the growth of ATM Networks, you were able to get YOUR money at virtually thousands of ATMs throughout the country and the entire world, regardless of what bank provided them.

So how does your money get from your account, into your hands at an ATM across the country? It is through an elaborate network of computer software and machines, (including the ATM) that allow for the transfer of the money in your account to the ATM you are using within minutes.

For the convenience of being able to access your money throughout the world, yes there is a fee to cover the expense of that elaborate network.

For those who wish to withdraw their cash from the place it was deposited, there is no fee, even though there is the convenience of access through an ATM at your financial Institution 24 hours a day, 7 days a week.

Robert Foster


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 April 4, 2017

Ever curious about ATM SKIMMING devices and how they work?

ATM Skimming is a con in which criminals install illegal card-reading devices on ATMs, as well as gas pumps and other public machines that process debit cards. You put your card in, and the device "skims" your information from the card's magnetic strip. Many times, scammers also set up a camera nearby. It's pointed at the ATM in order to capture the user typing their PIN into the machine. With these two pieces of information, scammers can potentially gain access to your account.

How it works

The criminal places the skimmer, which is usually made from plastic or plaster and looks very much like the original card reader, directly over the ATM card reader undetectable to the user or consumer. As the users or consumers insert their ATM cards into the false skimmer, their bank account information on the card’s magnetic strip is "skimmed" or stolen and usually stored on an electronic device. A hidden camera is used in conjunction with the skimming device in order to record the customer's Personal Identification Number. In lieu of a hidden camera, a keypad overlay, placed directly over the installed keypad, is sometimes used to record the user punching in their PIN. The skimmer device is placed over the ATM card reader or may be attached to the card swipe device at the door to gain access to the ATM after hours, which are both undetectable to the user or consumer.

Go to the bank.

Although not immune to skimming, ATMs at banks are typically more secure—with their own 24/7 camera surveillance—and better maintained. Machines at convenience stores and other non-bank locations account for the majority of ATM compromises.

According to NYPD Community Affairs Bureau here is HOW TO AVOID BEING SKIMMED:

  • Inspect the ATM, gas pump, or credit card reader before using it. Be suspicious if you see anything loose crooked or damaged, or if you notice scratches or adhesive tape/residue. The original card reader is usually concave in shape (curving inward), while the skimmer is more convex (curving outward).
  • When entering your PIN, block the keypad with your other hand to prevent possible hidden cameras from recording your number. 
  • If possible, use an ATM at an inside location (less access for criminals installing skimmers)
  • Be careful of ATMs in tourist areas - they are a popular target of skimmers
  • If your card isn't returned after the transaction or after hitting "cancel", immediately contact the financial institution that issued the card.
  • Be aware of "Money Trapping", where the criminal attaches a device to the cash dispenser "trapping" the customer's money and retrieves it after the customer leaves the ATM area

To see how EMV Chip Card technology has impacted debit and credit card fraud see our previous Blog by Robert Foster on February 14, 2017.

To view images and obtain more detailed information on how to spot a skimming device you can visit


Tonya A McCaughey

VP, Retail Operations Manager

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March 28, 2017

Blog PhotoGreat time to list your home??

The law of supply and demand is in full swing in the housing market on both a national and local level. Nationally, the Pending Home Sale Index (PHSI) for January 2017 reached its lowest level in a year* and tight inventory is the prime culprit.

Locally, the housing market has seen a steady increase in housing sales. According to the Mid Hudson Multiple Listing Service, the 12 month average for “Closed Sales” of single family detached homes, is up 16.3%. The average for “Pending Sales” is up 19.5%. Conversely, the 12 month average of “New Listings” has decreased by 10.2%. While the lack of new listings has not affected the local market in amount of sales taking place, it has had an impact on sales prices.

Normally, less homes being listed for sale and greater demand is the recipe for higher prices. Locally the median sales price and the average sales price are have both slightly increased by 1.2% and 2% respectively**.

So, why aren’t these sales prices rising faster? Here are a few: Is the market clearing out lower priced foreclosures or short sales. Are prices being held down by a person’s borrowing power based on local employment data? Is it simply that we are not in a full spring market yet and higher priced, quality inventory is waiting to be released into the market? Has the mood of the country changed and given people pause in making larger financial decision such as buying and selling?

The fact is that all of these are having an affect at this time, how much one or more have over others is nearly impossible to calculate without much deeper data to analyze. What we do know from both closed sales and pending sales data along with almost daily contact with local realtors, is that the demand is robust. The constant theme I hear from realtors is “I have lots of buyers and not enough homes to show them”.

The law of supply and demand will have an affect on prices. If the current 12 month trends continue we will continue to see prices rise. This then, has a positive effect on potential listings since values will have increased and people will be gaining equity in their homes. Sometimes this creates enough equity to make it advantageous to sell, creating another listing which can then help fuel the purchase market further.

Is it a great time to list your home? Only you know the answer to that question. But knowing the market trends can certainly help you make the right decision.

* Mortgage News Daily, Feb 27th, 2017

** Mid Hudson MLS, February 2017 Monthly Indicators


Vincent Aurigemma

VP, Residential Lending

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March 21, 2017

To Lease, or Not to Lease

There are so many ads on TV enticing you to come in and lease that new car for $199 per month or that new truck for $349 per month, how can that be?

Well, just look at the fine print.

Sometimes there are some crazy deals out there but more often than not, those ultra-low lease payments can require as much as $5,000 for a down payment! It’s what’s referred to as a Capitalized Cost Reduction. In addition to the large down payment, it’s often a ten thousand mile per year lease and it’s always “not including tax, tags and fees, etc.” so you may need to put down a good chunk of change plus tax and fees to get that low payment.

Usually there is an acquisition fee in the beginning and a termination fee at the end so be very careful!!  We see it all the time, people trying to finance the car at the end of the lease as they owe the leasing company so much money in over mileage fees! Unfortunately, they just did not pay attention to the mileage restriction of 30,000 total miles on the vehicle in 3 years, often so many people around here put 15 to 20 thousand miles per year on their cars, or more.  It’s important to know how many miles you average per year.

Another important thing to keep in mind even if you are tempted to put the money down to get the low payment, it may be a wise choice to keep the money in the bank, take a larger payment and if you need to, withdraw the money to subsidize the payment. One thing many people do not realize, if you total that car, your insurance company will pay off the leasing company but you will not get any money back, any money you use as a down payment on a lease is not equity for you, it only reduces the monthly payment, you don’t own the car. On a lease, the leasing company owns the car, you are only the registered owner, so if you put down $6,000 for a “cap cost reduction” on a lease and the next day the car was totaled, your $6,000 is gone! On a purchase, the insurance company would pay off the loan and give you the difference.

Food for thought, always read the fine print! Be CAREFUL!!

(This blog post is for educational purposes only)

Vince Lobosco

SVP, Consumer Lending

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March 7, 2017

Interview_PictureRhinebeck Bank - Your Community Bank

I am often asked, why should I bank at Rhinebeck Bank?

Upon reflection, I have distilled my response to a few key points:

  • We are a Bank that shares your commitment to the COMMUNITY; the success of Rhinebeck Bank is tied to the fortunes of our local economy. As our local businesses and residents succeed and prosper, the more our bank can benefit. Our employees live locally, our loans are made locally, we are invested within our community.
  • Our decisions are made LOCALLY; Rhinebeck Bank has face to face relationships with our clients, large and small. When decisions are being made, they are being made by people who understand the local needs with personal knowledge of the market and individuals involved.
  • The services provided are the same (or better) than those provided by the larger institutions. All banks have evolved to meet the needs of their clients and have developed multiple access points whether by electronic means or in person, all offered at much more affordable pricing at a Community Bank.

In summary, if you are interested in a Bank that employs local people, is invested in the local community and makes sound decisions by people who live and work locally and are committed to the success of the local economy, then Rhinebeck Bank may be the best choice for you.

Richard J. Kolosky

SVP, Commercial Lending

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February 28, 2017

Interview_PictureHow to Prepare for an Interview

Maybe you are interviewing because you just graduated from college. Maybe you are interviewing because you want a career change. Maybe you are interviewing because you were recently laid off. Whatever your reason, interviewing for a job can be stressful. You can help calm your nerves with the motto “Be Prepared”.

Here are some tips on how to be well prepared for your next interview:

  • Research the company. This will give you an overall picture of the company as well as help you stand out as a well-prepared candidate.
  • Print multiple copies of your resume and bring them to the interview. DO NOT assume your interviewers (and there may be more than one) will have copies.
  • Know the job requirements and be prepared with examples that demonstrate how your skills and qualifications meet those job requirements.
  • Prepare questions. The best questions often come from listening to what is asked during the interview, and asking for additional information. It also gives you the opportunity to find out if this is the right place for you.

Try to be the most professional version of yourself during your meeting and try not to let your nerves get the best of you. While you may think you want this job for a variety of preconceived reasons, the interview is your time to make sure this is the right position/fit/company for you.

Jeanine Borko

SVP, Human Resources

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February 21, 2017

The Downfall of the CheckSample Check Image

A consumer need for convenience, increased regulation, and numerous advances in technology have all contributed to the drastic changes in check handling by the banking industry since 9/11. Prior to these changes, the only way to clear checks taken as deposits at bank branches were to physically transport them by plane, armored car or truck from the bank of deposit to the nearest Federal Reserve Branch. The checks were then sorted, and transported to the bank they were drawn on to post. The total check clearing process could take at least five business days! Writing checks is quickly becoming obsolete: almost all non-cash transactions are now done electronically through ACH, debit, and credit card transactions. In fact, in 2015, only 12% of non-cash transactions were made by check – this is a 34% decrease in check payments since 2003!

So what exactly has led to the demise of the paper check?

Let’s start with how you get paid by your employer. Gone are the days when you had to physically bring a paycheck to the bank to deposit it. Most people today get their paychecks via an ACH transaction called Direct Deposit; even Social Security and pension companies distribute monthly funds this way. ACH stands for Automated Clearing House, an electronic network enabling funds transfers between financial institutions.

And when was the last time you actually wrote a check to pay a bill or make a purchase? If you have physically written a check and mailed it recently, did you get a copy of it in your monthly statement or did it show up as an ACH debit with the check number referenced in your transaction history? These processes are a part of a federal regulation called Check 21. In October, 2004 the Check Clearing for the 21st Century Act (Check 21) was signed into Federal law. Check 21 enables banks to convert checks into electronic copies (substitute checks) for faster clearing time – eliminating the need for the physical transport of checks between banks and reducing clearing time by several business days in most cases. Not only is ACH used for direct deposit and check conversion, it is also the process that allows you to make payments for your car loan, mortgage, credit card, insurance or utility bill by phone, through your computer, or with an automatic transfer. Financial services such as Bill Payment and External Transfer continue to evolve and grow using ACH transactions, allowing you to pay your bills and other people electronically.

Although it’s involved in the processing of many transactions, ACH only accounts for about 20% of the overall non-cash transactions occurring every day. The overwhelming majority of non-cash transactions today are done with debit cards. In fact, overall debit cards usage has increased proportionately from 2003 to 2015 as check writing decreased: In 2003, only 19% of transactions were made by a debit card and by 2015 usage had increased to 48%! Debit cards have quickly replaced checks because of ease of use, convenience and worldwide acceptance. Unlike writing a check, using a debit card allows the funds to be deducted from your account immediately at the time of transaction, making it less likely to overdraw your account. Your transaction may not be approved if there aren’t sufficient funds in your account to cover it.

Innovations in technology through services such as Apple Pay, Google Pay and other wallet-type applications have made it easy for consumers to use their cards for every day transactions. Debit cards, like their credit card counterparts, are also backed by the card issuer (VISA or MasterCard), limiting your liability and increasing protection against fraudulent or unauthorized purchases. The newest EMV Chip cards have additional technology to counter the recent rise in counterfeit card activity as well.

As changes in technology continue to take place, it will be interesting to see if the trend of declining check usage continues and how other innovations may step in to replace what was once the only non-cash method of payment.



Yvette Temple

AVP, Customer Solutions Manager

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February 14, 2017

EMV CHIP Cards, Why?

Rhinebeck Bank recently issued new MasterCard® Debit cards with new “Chip” technology. These cards are also referred to as EMV Cards, for the original developers Europay, MasterCard® & Visa®.

EMV began to be used extensively in Europe in the early 1990s. In 2011 the leading payment networks in the U. S. announced plans to transition to EMV technology, for both Debit and Credit Cards, by October 1, 2015. On that date liability for fraudulent transactions shifted to any entity that had not implemented the new EMV technology. Due to the expense involved in purchasing new terminals and issuing new cards many merchants and banks did not make the change by the target date of October 1, 2015. This, however, did not affect customer’s ability to use their cards, nor did it affect the consumer’s rights under regulations and network rules regarding liability for fraudulent transactions.

What is EMV and why the change?

EMV is an advanced technology where the information for each transaction is stored in the chip on the card. This information is dynamic (changing for each transaction) rather that static (remaining the same) as on the magnetic stripe on the back of cards. Magnetic stripe data is easier to copy using a simple and inexpensive card reader device, while the information on the chip changes for each transaction making it more difficult to create fraudulent cards.

As the transition to EMV cards has progressed throughout the U. S. there has been a notable decrease in counterfeit card fraud. The following statistics, recently published by the American Bankers Association, show the progress that has been made in EMV card use and combating fraud.

Consumer Use Up

Financial institutions have issued over 700 million chip cards in the U. S. market, more than in any other country in the world. Since October 1, MasterCard® and Visa® have increased the number of EMV cards by over 100%, and chip transactions were up 30% in the first quarter of 2016.

Merchant Use Up

Almost 36% (2.3 million) of U. S. merchants now accept MasterCard® chip cards, with an average of 100,000 new merchants becoming chip-ready each month.

As previously mentioned EMV cards began to be issued in the early 90s in Europe and the vast majority of merchants in Europe no longer accept cards without the EMV Chip.

Fraud Down

Counterfeit card fraud has declined by over 54% in MasterCard EMV enabled merchants as of August 2016.

It took France four years to see a 91% drop in counterfeit fraud after shifting to EMV in 2005. The U.S. is growing at more than twice that speed with counterfeit fraud falling an average 50% between April/May 2015 and April/May 2016.

So after a slow start in the U. S. EMV cards are catching on, with reduced counterfeit fraud definitely being realized. While the recent re-issue of Debit Cards may have caused some minor inconvenience for our customers we, at Rhinebeck Bank, are certain that reduced fraud, and international acceptance of EMV cards are features that will be of great benefit to our customers.


Robert Foster


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February 7, 2017

Will the Real Jane Doe Please Stand Up?

We’ve all heard of identity theft. But what is the meaning behind the term? Are there any warning signs that it’s happened? What needs to be done if it does happen?

The short answer is that identity theft is a crime. Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person's personal data in some way that involves fraud or deception, typically for their own financial gain.

Many people do not realize how easily it is for criminals to obtain our personal data without having to break into our homes. Protection of personal information must be a top priority for all of us. It is important to recognize the warning signs of identify theft.

The Federal Trade Commission’s website lists several Warning Signs of Identify Theft.

Some clues to be aware of are:

  • You receive notice that your information was compromised by a data breach at a company where you do business or have an account.
  • You find unauthorized bank and/or credit card account transactions.
  • You are receiving bills for accounts you didn’t open.
  • You are not receiving your bills or other mail.
  • Debt collectors are calling you about unknown outstanding debts.
  • You find unfamiliar accounts or inquiries on your credit report.
  • You find medical providers billing you for services you did not use.
  • The IRS notifies you that more than one tax return was filed in your name, or that you have income from an employer you don’t work for.

In the event that you encounter any of these warning signs or if your wallet, social security number, or other personal information is lost or stolen, there are steps you can take to help protect yourself from identity theft.

While there are many paid resources available, there are also FREE resources available to everyone. The US Government provides information and resources to help identity theft victims through the maze of recovery.

For more information on identify theft visit the Federal Trade Commission (FTC) website at:

If you find yourself a victim of identify theft visit FTC website to obtain a recovery plan at:


Tonya A McCaughey

VP, Retail Operations Manager

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January 31, 2017

EMV Chip Security: Facts you should know

So you have a fancy new chip in your Rhinebeck Bank debit card, and now your transactions at the store are taking a bit longer than before. What’s going on, and why do you need this? The chip uses a more advanced technology, called EMV. EMV stands for EuroPay, MasterCard®, and Visa®. Here’s why the new EMV technology is important:

To understand how we got to this point, let’s first look to the past. When was the last time you listened to your favorite song on a tape player? The cassette tape was developed in the 1960s, around the same time magnetic strip credit cards appeared. As a matter of fact, the core technology of magnetic strips was developed in 1928. Because of this, it’s easy and cheap for fraudsters to steal your information and use it fraudulently.

EMV chips, on the other hand, are extremely difficult to clone. When the chip is inside the payment terminal, a secure and encrypted communication takes place between the store and your bank. While the transaction time at a terminal may be a bit longer, you are getting a significantly more secure transaction.

The real question is, why do we still use magnetic strip technology for some transactions? Simply put, it works well and most businesses have the ability to accept it. Development of the technology and new EMV hardware comes at a cost for processors, banks and merchants. Phase one of the US migration, getting chip cards into the hands of consumers and having large merchants ready to accept them, is coming to a close; phase two, acceptance and adoption, is now in full swing. Getting banks, merchants, and processors to switch to a new technology takes time and can be costly, but the consumer ultimately benefits from a more secure transaction.

This technology is going to grow over time. While right now it may seem like an inconvenience, Rhinebeck Bank’s goal is to keep your money and information safe. Many countries around the world have already made the switch to EMV. The US is one of the last countries to make the switch, and businesses and banks all throughout the country are working together to make chip cards the new standard. Protecting consumers’ money is a top priority. The next time you have to wait an extra 10 seconds at the store, keep in mind what that little chip is doing for you.


Magnetic Strip Credit Cards -

Compact Cassette -

Chip Card Security: Why is EMV More Secure -

Why America has been slow to adopt modern credit-card technology -

Six months after the US EMV liability shift, where do we stand? -

Dawn Scherer

SVP, Operations and Technology

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January 24, 2017

New Years Job Resolutions

Many of us make personal New Years resolutions. Exercising, eating better, spending more time with friends and family are popular resolutions we hope to keep in order to improve our personal life. But how about making resolutions for our work life? We spend a large percentage of our time at work, so why not make resolutions to improve the job we do?

Learn. Learn something new every day. It does not have to relate to the exact job you are doing at a particular time. Learn something about the company, what your manager does, technology that can help you be more efficient, or read more. Commit to expanding your knowledge base.

Excel. You are at work to do a job so why not do it to the best of your ability? Ask for clarification if you do not understand a directive, always double check your work, offer assistance if you have down time. Be accountable for your work at all times.

Reach. Think about how you can go above and beyond and then seek the opportunity to do so. Be proactive and make suggestions. Be ready with a plan to implement change.

Be Positive. So much can be overcome by having a positive outlook. Project a positive image and energy. It will help get you through “those” days and could very well be contagious.

Best wishes for much success in 2017!

Jeanine Borko

SVP, Human Resources

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January 3, 2017

Think About the Term

When it comes to buying a new car, many people ONLY look at the monthly payment. They don’t always pay attention to the price of the car or how much that car may cost in total. happy cutsomer - graphic

Here is an example:

You are looking to buy a new car and looking to finance $25,000.00. You tell the dealer you would really like your payment to be around $400.00 per month. You know you have good credit so getting approved won’t be a problem.

The dealer then comes back and says we can finance the car for $363.90 per month. Sounds great! Right?

The deal they presented to you would be for 84 months at an interest rate of 5.89%. The total cost after you’ve made all the payments is $30,567.60.

But… what if you ask about the term and figured you could pay just a little more per month. After all, you were thinking about paying $400 per month when you started. The same loan for 72 months at a rate of 4.99% is $402.51 per month. Yes, it’s almost $40.00 more per month, but the interest rate is almost an entire point less. After you make all the payments, the total cost would be $28,980.72 with a savings of $1,586.88. Just for paying an additional $38.61 per month you saved a year of payments and almost $1,600 in interest.

If you’re the type of person who stops everyday for coffee… buy two less cups of coffee per week and you’ll have your additional $38.61 per month for your payment. Just food for thought, I always recommend to anyone who asks, take the shortest term possible that you can live with. You probably won’t notice that ten dollars a week but in the end, you will have saved a nice chunk of change.

(This blog post is for educational purposes only)

Vince Lobosco

SVP, Consumer Lending

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December 27, 2016

First Impressions

Most of us have heard the phrase “You never get a second chance to make a first impression.” This is especially true during a job search.

Your resume is usually the first impression you will make on a potential employer. I am amazed that in our technology driven world, so many resumes are submitted with typos or errors. One recent resume I received included years of employment “20o9 to 2015”. How did that error even happen?!? If the first work product you show to an employer has errors, what does that say about the work you will produce for them? Not much.

With many applicants applying for the same job, it is important to make yourself stand out. Make sure your resume is visually appealing. The font should be consistent, the words should be spaced evenly on the page and it should fit on one page if you have less than 10 years of work experience. And of course it should detail WHAT you did and HOW you did it.

Before finalizing your resume read it out loud, run it through spell check, give it to someone to proof read (teachers are great at this.) Ask yourself “Am I proud of this document? Does it reflect who I am as a potential employee?" After all, that is the story your resume tells.

P.S. – A firm handshake and good eye contact never hurt a candidate’s chance either.

Jeanine Borko

SVP, Human Resources

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December 20, 2016

Shop smart - don’t let criminals get your personal information this holiday season!

As many of you know, there are criminals out there looking to get your personal information and steal your money. There are dozens, if not thousands, of people illegally attempting to steal your identity, obtain access to your gift cards, or fraudulently access your money in many different ways. Don’t be a victim this holiday season!

Here are 7 ways to protect yourself this holiday season:

1. Only purchase from reputable online sites and sites you frequently use

  • Use an online retailer that you know is secure. Sites that have a secure shopping cart and that you’ve used before may be your best bet.

2. Keep an eye on your Credit Card and Bank accounts

  • Make sure you check your statements online when you make purchases to verify the correct amounts.
  • Check them weekly. Even if you don’t make purchases, see if other charges are being made
  • If you have a question about a purchase, even if it’s a small purchase, call your Bank or Credit Card company and ask questions.

3. Make sure your Gift Card scratch off area is still intact

  • If the gift card scratch off is “scratched off,” money on the card may be missing. Hackers can drain your gift cards with the codes placed under the scratch off area. Make sure your gift cards have not been tampered with before you purchase them.

4. Look out for fake charities

  • Make sure you know who you are donating to. Some online charities may not be charities at all. Research the charity before you donate, make sure the link you use to donate is on their website. Ask yourself, does this look like a reputable charity?
  • Call and ask questions. If the charity does not have a phone number, it may be best not to donate.

5. Beware of package theft

  • With the rise in online shopping, there’s a rise in package theft. Make sure there is someone home to carry your package inside upon arrival.
  • If you don’t receive your package on the scheduled date, call the company and make sure it’s still on time for arrival.
  • If you have the means, get a camera for your door step to see the activity happening outside your door.

6. Change the passwords to your online accounts, especially your Bank accounts, frequently and make the password complex

  • This was stated in a recent blog post from us at Rhinebeck Bank. It’s always best to change your passwords monthly. This will help prevent your account from being hacked.

7. Don’t respond to pop-up advertisements

  • These may take you to a site where hackers can take your information. Certain links that you click can leave your computer and information vulnerable. Don’t get click happy. Only click on links you feel are secure, if you’re unsure, don’t click.

This year use these methods to protect yourself and leave yourself with less risk! Good luck and happy shopping from all of us at Rhinebeck Bank!


Michelle Barone-Lepore

SVP, Marketing

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December 13, 2016

Even in the age of technology, balancing your checkbook regularly is still a smart thing to do!

Over the course of any given month there are dozens of transactions going in and out of your checking account: direct deposits posting from your employer, your mortgage or rent, utility bills, car loans, insurance and other payments are withdrawn. There are also groceries to buy, dinners out, a gas tank to fill and perhaps a trip to the movies or shopping online. Do you know the true balance in your account before you spend money or do you just wing it?

Balancing your checkbook at least once a month can help you:

  • Track your spending and budget easily
  • Catch unauthorized transactions or errors with regular monitoring
  • Avoid overdrafts by always knowing what you have available to spend

So how exactly do you balance a checking account?

1. Start with a checking account register – it’s a little booklet that has lines to write what was spent or deposited and includes an area to write the check numbers, dates and amounts of each transaction you perform.

A running balance is kept after each transaction to track what is available to spend. A register is usually included with your check order. Many banks also make them available upon request for customers as well. Every transaction processed on your account should be recorded in your register:

2. Each month, you should receive a statement of account activity from your bank which can be used to balance your checkbook. You can also balance your account with the transaction history available within Online Banking.

3. Compare the transaction listing to what you have recorded in your register. Many people use checkmarks to indicate what has posted or cleared to easily spot anything outstanding or unpaid. Add in any missing deposits, including interest earned credits and subtract out any payments, checks and debit card transactions that aren’t recorded into your register. If you find any errors, contact your bank immediately to notify them of the discrepancy. Should you find any fraudulent transactions, you have 60 days from the date of your last statement to dispute them. You should note the amount of any errors in your register and adjust your balance accordingly.

4. On a separate piece of paper, or using a calculator, start with the ending balance of your statement. (You can also use the available balance as shown within Online Banking.) Add in any deposits from your register that haven’t posted to your account yet and subtract all checks, payments or other withdrawals that are still outstanding or unpaid by your bank.

5. Your final total should match the last balance in your register. If it doesn’t, go back and compare the transactions again to find any differences. If you are still having trouble finding the same balance, stop in or call your bank for help.

Yvette Temple

AVP, Customer Solutions Manager
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December 6, 2016

5 Tips to Improve your Online Security

The Wall Street Journal reported that financial institutions are projected to spend $2.6 billion more on cybersecurity in 2016 than they did in 2014. In addition to your bank’s security efforts, there are a few things you can do to help keep your accounts as secure as possible.

1. Avoid using public Wi-Fi to access sensitive accounts – Free Wi-Fi at Starbucks is great to check Facebook or LinkedIn, but avoid using it to access your financial accounts. Anyone connected to the same network can see your login information, making it easy for hackers to access your accounts long after you finish your coffee.

2. Create complex, unique passwords (and change them often) – You’ve heard this advice countless times for good reason – your account is only as secure as you make it. If you use the same password for all your accounts, it’s safe to assume that once one of them is compromised, ALL of them are compromised. Check out this article from The Telegraph ( to see the 25 most common passwords of 2015, how to create a more secure complex password, and what hackers do once they have one of your passwords.

3. Check for abnormal activity often – Every few days, check your recent transactions to make sure all activity on your accounts is legitimate. If you see anything abnormal, report it right away. Check with your financial institutions to see what fraud you’re liable for – many credit cards will cover fraud liability as long as you report the transaction as fraudulent within a certain amount of time. Every financial institution’s policy is different, so it’s important to stay informed of how long you have to report fraudulent activity, and check in on your accounts accordingly.

4. Sign up for alerts – Many financial institutions have the ability to text and/or email you if they see something strange on your account. This should not replace your checks for abnormal transactions, but your bank may detect something strange before you do. Rhinebeck Bank’s online banking offers alerts for failed sign-on attempts, password changes, and low/high balance alerts. Additionally, all customers are automatically set up with alerts for mailing address changes, email address changes, phone number changes, and “forgot username” accessed. Check with your financial institution to see what alerts they offer.

5. Avoid clicking on links in emails (even if it looks legit) – Spammers have wised up, and have the ability to send emails that look like they’re from a company you do business with. This is called phishing. Just like your bank will never call you and ask you for your account information, it will never email you asking you to reply with sensitive information. Best practice is to type in the URL yourself, and avoid clicking links sent to you through email.


Dawn Scherer

SVP, Operations and Technology

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November 29, 2016

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Rhinebeck Bank’s Offer - Express Business Loans

Have you heard? We’re offering an Express Business Loan with a credit decision within one business day. If you have a company that requires new equipment, this loan is exactly what you’ve been looking for. You can increase your productivity through this loan by purchasing the vehicle or equipment you need.

Some examples of vehicles and equipment we finance include: cars or trucks, plows, landscaping equipment, restaurant equipment, dental equipment or almost any type of equipment for your small business.

We’re proud to say that this loan not only has very low interest rates, but we will also waive the document preparation fee (for applications received before March 31, 2017.) These are just two perks out of many! Other highlights from our Express Business Loans include:

  • Loan amounts up to $250,000
  • Credit decision within one business day (for applications received before March 31, 2017)
  • Available for new OR used equipment purchases
  • Available for business vehicle purchases
  • Minimal paperwork

Here at Rhinebeck Bank we strive to make the process seamless. If you have any questions or are interested in applying for an Express Business Loan, please call us at 845-454-8555, option 3. For more information, please visit:

(Member FDIC, All loans subject to credit approval)


Michelle Barone-Lepore

VP, Marketing

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November 22, 2016

Will Bank Branches Disappear?

The first Automated Teller Machine (“ATM”) in the U.S. opened in New York City on September 2, 1969.This original ATM was designed to dispense cash when a valid plastic card was used. By the 1980’s ATMs became widespread, handling many transactions that human bank tellers could perform. ATMs went on to revolutionize the banking industry.

Many in the banking industry believed that ATMs would eventually eliminate the need for human tellers, and eventually the need for bank branches themselves. In the 1980’s, On-Line Banking was introduced, and with the introduction of smart phones in 2007 Mobile Banking began to take off.

With all of these ways to transact business on your accounts, there are some questions as to whether the traditional bank branch will soon disappear. According to one survey*, more people bank on a computer or smart phone on a weekly basis than go to a bank branch. This would suggest that the bank branch is on the same path as the dinosaur. However, a survey conducted with data from the FDIC shows the number of commercial bank branches as of the first quarter of 2016 has declined only 5% since 2009.*

All that being said, what about bank branches in the Mid-Hudson Valley? In Dutchess County the number of bank branches (commercial and savings) as of 6/30/16 has increased 3.41% over the 6/30/06 number. The number for Dutchess, Orange, and Ulster counties combined for the period is a 7.91% decrease.*

What about Rhinebeck Bank? Rhinebeck Bank currently has 11 Full Service Branches, 9 in Dutchess County and 1 each in Orange and Ulster counties. The most recent opening was in Goshen in May of 2016. As a local community Bank, we see the importance of having branch locations. Here, our customers can conduct business with a financial professional, whether it is a simple cash transaction with a teller, or a complex transaction where a face to face meeting with a Banker would be helpful.

While the traditional bank branch may not be what it was 10 to 20 years ago, we at Rhinebeck Bank believe it remains vital to providing the kind of service we feel our customers deserve and want.

As a Teller with Rhinebeck Bank, I enjoy interacting with our customers. We have many customers who depend on us on a regular basis, such as our commercial customers who visit our branch every day, and consumers who prefer to do their business in person on a weekly basis. We do have ATMs, Debit Cards, On-Line Banking and Mobile Banking for those who wish to conduct business in this manner. However, we enjoy seeing our customers in person. So, if you haven’t been to your local branch in a while, come on in and say hello. We would love to see you

*Source: FDIC Summary of Deposits, published 9/30/16


Robert Foster


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November 15, 2016

Beware! If it sounds too good to be true... it probably is!

Have you ever received a phone call and wondered if it might be fraud? For instance, someone claiming to be a representative with Microsoft saying your computer has viruses? Or maybe, a call from the IRS saying you owe them money and if you don’t pay you will be arrested? Have you recently received an email or letter saying that you are the lucky winner of a lottery?

If you answered yes to any of these questions, you are not alone. The Federal Trade Commission reports that criminals are using clever schemes to defraud millions of people each year. These schemes often combine a variety of techniques to get people to send money or give out their personal information. Criminals are using a variety of methods such as phone calls and emails, along with the use of sophisticated technology, all in an attempt to obtain your private personal information. They then use that information to commit fraud. Callers may claim to work for a company you trust, or claim to be calling on behalf of a loved one. People need to remain vigilant to protect themselves. Anyone receiving calls or emails should never give out their personnel information to anyone over the internet or phone. Your Bank will NOT call you and ask for this type of information! If there is any doubt as to the legitimacy of the phone call or e-mail, you should verify the validity of the call by contacting the business using a publicly listed phone number.*

If you find you are the target of one of these scams, the scammer is counting on you to keep the information to yourself. It is important to tell someone. Whether you decide to report the incident to law enforcement or a federal agency such as IC3 (Internet Crime Complaint Center) you should still share with others to get the word out. So, share your story with your friends and family who will then share with their friends and families. The more we share, the more aware we will all be.

Check out these government websites for more information:

Source: *

Report an internet crime here:


Tonya A McCaughey

VP, Retail Operations Manager

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November 8, 2016

Don't Just "Fall" Into Your Career

Whether you are a high school student looking for your first job or a seasoned professional looking to make a job change, you should remember your career path is up to YOU. Many candidates take a position because it was offered. Just because a position is offered to you does not mean you have to take it. Ask yourself these questions:

1. Do the job duties match my learning/career objectives?

2. Does the management style complement how I work best?

3. Will I get along with my co-workers?

4. Are the salary and benefits competitive?

Do some research to make sure the position is the right fit for you. Speak to people who work(ed) at the company, search the internet to find information and ask the hiring manager some follow-up questions.

Most of all remember – you are your biggest career advocate. Your new employer will spend many hours training you and you are making a major life change. Realizing two weeks or even worse, two months later that the position is not a match can be frustrating to both you and the employer. It is in the best interest of both you and the employer to make sure this is the right job for you, so do your research and make an informed decision.


Jeanine Borko

SVP, Human Resources

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November 1, 2016

Predicting the Mortgage “Weather”

Let’s face it; The Weather Channel© has changed all of our lives. We watch live minute to minute updates of weather patterns and storm fronts. Experts try and predict events for the next half hour to the next 10 days, to years in the future. They consider longer term cause and effect (El Niño comes to mind) to try and identify what type of seasonal weather we will have. We need the forecasts to help us plan our day, month, and season. Do we bring an umbrella today? Do we buy a new snow blower? When should I plant the tomatoes?

They do this by gathering and analyzing incredible amounts of data. Trying to determine how each piece of information corresponds to the other.

All industries look to perform a similar type of forecasting, and the mortgage business is no exception.

We need to analyze and review incredible amounts of data (employment statistics, stock market prices, bond yields, political races, world events, and so on) and what affect it will have on rates, housing prices, new home sales, and construction, to name just a few.

We need to forecast to help run our business in the most effective and efficient manner. Will home sales be strong? What staff increases do we need to make in order to maintain our processing speed? How do we adjust sales and operations expenses? How will a changing rate environment affect application volume? I like to think of “what will the interest rate be tomorrow” as akin to “should I take an umbrella” and “what will the housing market look like in 2020” with “will we see El Nino in 2020”.

So let’s take a look at one specific piece of long term forecasting: how can we predict the First Time Homebuyer (FTHB) market in 2020?

Studies performed by Zillow® show us that the average age of a FTHB is approximately 33 years old (increasing), 40% are single (decreasing), and they are spending approximately 2.6 times their annual income on homes (increasing).

If we look at the US Census data from 2012, the US had 20,893,000 people who were ages 25-29. This means that today they are between the ages of 30-34. This is the prime FTHB age group.*

Reviewing the next two age groupings from the 2012 census, we would now have 21,878,000 individuals in the 25-29 age range and 21,239,000 in the 20-24 age range. These numbers would indicate that our FTHB applications should continue to be strong over the next 8 years. We could go much further to hone in on a more specific target number of FTHB applications, but I believe you get my point.

The most scrutinized aspect of the mortgage world is the rate environment. The overwhelming winner of most frequently asked question from a borrower is: “what is going to happen with the interest rate”? Will rates go up or down this afternoon? Next week? Or, what kind of rate environment will there be in 2020 that could possibly affect the FTHB market? So much to analyze!

All of these forecasts, including the weather, are subject to drastic changes. There have been predictions of a rising interest rate environment for the past four years. Despite some minor fluctuation, rates have remained relatively flat over this period. So, the lesson here is that with all of the data we have to review, the best we can do is make an educated guess. It is the same as the weatherman trying to predict landfall of a hurricane, they really don’t know.

So, my advice in trying to predict interest rates is this: take an umbrella.


US Census Data -


Vincent Aurigemma

VP, Residential Lending

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October 25, 2016

Why Millennials need to start saving for retirement now!

For new professionals beginning a career in their early 20’s retirement can seem light years away. I certainly felt this way in my early 20’s, and to some extent still feel in my mid 30’s. The reality is retirement is not that far away. The longer millennials wait to start saving, the more difficult achieving retirement goals will be. For a long time the combination of Social Security and in most cases a pension ensured a semi comfortable retirement. Adding a 401k and/or IRA to the mix was just icing on the cake. For most job families pensions are a thing of the past, and social security is a big question mark. This leaves personal retirement savings as the most reliable way for millennials to achieve their retirement goals. So why is it so important to start early?

Building a savings habit

It’s easy to procrastinate when you first start your career. Common reasons for procrastination are, time, lack of disposable income, awaiting inheritance, etc. Although these feel like good reasons to wait I can ensure you they’re not. You’re in control of when and how you retire. Building a strong savings habit early is very important to building wealth. Starting a savings plan is often the hardest part, once established it becomes an addiction. Understanding money is tight when you first start your career, here are few tips to give you a kick start.

  • Create a budget and include an amount for savings, whatever you can afford, it all adds up!
  • Take advantage of your employer’s 401k plan. Most of these plans offer a competitive match, which is free money! Start with a small percentage and increase every year by 1%.
  • Try the 52 week challenge. Start week one by saving $1, the following week save $2, increasing your savings $1 every week for 52 weeks. At the end of the year you’ll have saved $1,378!

Time is Money

Have you ever heard of compounding? Compounding is the ability of an asset to generate earnings, which are then reinvested in order to generate their own earnings. In other words, compounding refers to generating earnings from previous earnings. Hypothetically speaking say you contribute $5000 to an IRA. In the first year your account balance grows by 10%. Your investment is now worth $5,500. In year 2, your account balance grows by another 10%. In this case your $5,500 account balance grows to $6,050. Rather than your investment growing $500 in the previous year, it grows $550. The additional $50 in growth is a direct effect of compounding. Each year growth takes place, compounding has a more dramatic effect than the year prior. Those that begins saving for retirement in their early 20’s have ten more years of compounding growth as compared to those starting in their early 30’s. In this case, time really is money!

Retire when you want, not when you can

The great thing about retirement planning is that you’re in the driver’s seat and in control. You control how much you contribute, the investment type, etc. Although fluctuations should be expected when investing, having the right plan will send you on the way to achieving your goals. At some point you may have been asked when you want to retire. Were you confidently able to answer this question? Most are not, nor should they be able to say definitively. However, having a plan in place with specific goals set will put you in the best position to answer this question.


Mark Malone

VP, Area Sales Leader

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October 18, 2016

Should I Refi? - Let's do the math!

Have you ever heard this one? “It’s not worth refinancing unless you are going to drop your rate by 2%”. It is generally preceded by “my parents told me”…

I cannot tell you how many times I have heard that in the past 13 years. So, where did the notion of the 2% threshold to refinance come from? It is driven by the average sales price of a new home. Let’s do the math.

If we take a historical look back at the average new home sales price in the United States, the price of a home in January of 1976 was $72,400. Fast forward to January of 2016 and it was $363,400. The average loan size of a mortgage is going to dictate how a change in interest rate will affect the viability of a refinance scenario. Let’s do the math!

I will assume each home was financed using a 20% down payment, leaving their loan amounts at 80% of the value ($57,920 & $290,720 respectively). Now, applying the average 30 year fixed interest rate for that period of time (January 1976: 9.02% vs. January 2016: 3.875%) we can determine how the mortgage amount will dictate our threshold of interest rate change:

1976: $57,920 @ 9.02% = $466.87 (principal & interest)

If we reduce the 1976 interest rate by 2% (7.02%), we have a new payment of:

$57,920 @ 7.02% = $386.12

Creating a savings of $80.75

In order to save the same $80 in principal and interest payments in 2016:

2016: $290,720 @ 3.875% = $1,367.07 (principal & interest)

If we reduce the interest rate by .5% (3.375%) we have a new payment of:

$290,720 @ 3.375% interest = $1,285.26

A difference of $81.81

Now, refinancing your mortgage to save $81 per month may or may not be worth it to you personally. The point of this exercise is that you do not need to wait and hope that rates fall by 2% in order for it to make sense to refinance.

You should always seek out a residential mortgage lender to help you calculate the monthly savings while taking into account any and all cost associated with a new loan. This will ensure you have the proper information to make an informed decision on one of the biggest financial decisions you will make in a lifetime.

  • Average new home sales price via the US
  • Average 30 year fixed interest rates via Freddie Mac interest rate chart


Vincent Aurigemma

VP, Residential Lending

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October 11, 2016

Millenials and Banking

For the past several years, a hot topic in banking circles has been centered on Millennials. More specifically, the talk has been how to tailor banking solutions to meet the needs of the next up and coming generation. Born between 1980 and 2000, Millennials are the largest generation in American history. As a Millennial myself, I can attest to the fact that being born in the early 80’s, as I was, is much different than being born in the late 90’s. That being said, if there’s one thing that’s shaped this generation as a whole, it’s technology. Technology has touched just about everything in the lives of a Millennial, most of whom don’t remember life without access to the internet. Over this same time period, banking has evolved tremendously along with technology. Technology has driven customers away from bank branches and to ATM’s, computers, mobile devices, and third party payment systems such as PayPal.

There’s no question, Millennials are changing the way banks do business. Many so called industry experts will say that Millennials only want digital solutions to manage their money - not traditional methods such as meeting with a Banker. I’m not completely sold on this idea. Although the role of a Banker is changing, my Millennial customers still see value in face-to-face contact and personalized advice, particularly as it relates to more involved needs, such as financing their first home, or planning for retirement. Even with the growth of technology, I believe that the “Banker” will continue to play an important role in the branch.

Although technology has made banking mobile and increasingly more convenient, customers can still find value in a local, personal relationship and great face-to-face customer service. Having a point of contact during financial milestones and challenging times can make all the difference in the world. With the endless information that can be accessed online, Millennials have questions like everyone else, especially with so much content to sort through. Having a Banker as their go-to for answers is priceless. With a generation so consumed in technology, our services and offerings need to be transparent and straight-forward in order to get Millennials to feel comfortable and confident with banking. Customer service is something that never goes out of style, and here at Rhinebeck Bank our goal is to always provide our customers, Millennials included, the most pleasurable banking experience we can possibly give.


Mark Malone

VP, Area Sales Leader

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October 4, 2016

Star light, star bright, Albany changed the S.T.A.R. program with all their might!!

In a deal between the New York legislature and Governor Andrew Cuomo, the state has changed the way new homeowners can take advantage of the STAR program. While the total amount of the tax relief remains unchanged, the difference is in “when” you receive it.

Under the previous program rules, homeowners eligible for the STAR program received the STAR refund in the form of a property tax exemption and thereby saw a reduction in their tax bill. So, homeowners who escrowed their taxes as part of their mortgage would see the benefits of the tax break on a monthly basis. Now, all home purchases will receive a tax rebate check for a portion of their school property taxes on a yearly basis. You will no longer be required to register with your local tax assessor but instead will now register directly with New York State.

Now, all home purchases will receive a tax rebate check for a portion of their school property taxes on a yearly basis.

The interesting part is that the change is being made retroactively to 2015 tax year!

So, if you purchased a primary residence after May 1st, 2014 you would now need to apply for the new STAR program if:

  • You bought the home after the 2015 application deadline.
  • You did not apply for the STAR exemption for your home by the 2015 application deadline.

Most municipalities have a March 1st, 2015 deadline; however some do have different deadline requirements. To check for yours please click on the following link

Should you need to register for STAR, go to Register for the STAR credit or call 518-457-2036. Make sure to have your school tax bill ready when you call.

Even though you now register directly with New York State, your local town assessor is still a great resource of information and guidance with this process. Reach out to them for assistance or information to ensure you are taking advantage of all the benefits that you are eligible for!

Reference: New York State Department of Taxation and Finance


Vincent Aurigemma

VP, Residential Lending

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