SARATOGA SPRINGS — Saratoga’s Credit Union added a new branch in Ballston Spa that opened this past February 2021. The new location at 444 Geyser Road, Ballston Spa, NY 12020 brings a full service, local, financial institution to the center of the Town of Milton equipped with traditional drive-thru access as well as an Interactive Teller Machine (ITM) and 24/7 ATM. 

The launch of the new branch is joined with the development of new services offered by the credit union, Saratoga Mortgage. Patti Montgomery joined Saratoga’s Credit Union and Saratoga Mortgage, specializing in mortgage financing. 

SARATOGA SPRINGS — Local eatery, Urban Roots Kitchen, announced the launch of a new brand identity, name and vision for its future. The company will begin operating as Thorn + Roots. 

“As part of our expansion focus, our team, Allen and I believe it was appropriate to rebrand our company to more specifically reflect our vision for the future,” said co-owner Brandon Acres, in a statement.  “We are very excited about the introduction of our new company name, Thorn + Roots, as it allows us to better represent our business to all of our guests.”

The former Urban Roots Kitchen opened its doors in Saratoga Springs in October 2018, followed by its sister store, Thorn + Roots, which opened in Burlington, Vermont, in October 2020. Located at 46 Marion Ave. in Saratoga Springs, Thorn + Roots is open seven days a week for breakfast, lunch and dinner. 

The new additions to the business will prominently feature the company’s focus on expanding its product lines and growing the brand. The company’s ownership and staff have not changed. For more information on the rebrand or to learn more about Thorn + Roots, go to:  thornandroots.com.

BALLSTON SPA — Timothy E. Blow, executive vice president and chief financial officer at Ballston Spa National Bank (BSNB), has announced his retirement effective Dec. 31, 2021. 

Since joining BSNB in 2005, his responsibilities include strategic financial planning and oversight of the finance, IT, operations, compliance, and facilities functions. Blow’s leadership at BSNB caps a 33-year career in the Capital Region working in audit, advisory and corporate banking roles. 

“Tim’s contributions have been instrumental in helping BSNB achieve high levels of fiscal and operational effectiveness, the development of a sophisticated technology infrastructure, market expansion, and record financial performance. Of particular note was Tim’s leadership in the development of the company’s new corporate headquarters building in 2011,” said Christopher R. Dowd, president and chief executive officer at BSNB, in a statement. 

As part of the planned transition, James F. Dodd will be promoted to senior vice president and chief financial officer effective July 1, 2021. 

SARATOGA SPRINGS — Whitman Brewing, located on Lake Avenue in downtown Saratoga Springs, was named among top new breweries in the country by USA Today’s “10Best” ratings. 

In its rankings, USA Today explains:  Craft breweries are opening in record numbers in the United States, hundreds each year. USA TODAY 10Best wanted to find the best new breweries in the country, ones founded in the past three years, so we asked our readers to vote for their favorites. A panel of experts partnered with 10Best editors to pick the initial nominees, and the top 10 winners were determined by popular vote.

Walt & Whitman Brewing Company in Saratoga Springs ranked #8 overall. 

Opened just before the COVID-19 pandemic hit, the brewery has navigated the last year, creating a safe environment for its patrons. Integrating its craft beer menu with a distinctive food menu that features Detroit style pizza, the brewery also features a full coffee shop.

Will Crager, co-owner and founder of Whitman says: beer at Whitman is not just something you can have a discussion over, but something that you can have a discussion about. It will challenge you to think about beer in a different way – as a foundation of culture and conversation. Conversation will not end here. It will extend into discussions on the space and the vibe. Stories of the photos on the wall. Discussions about music, history, art, poetry, and politics. Discussions amongst friends and family. And, yes, even discussions with the stranger sitting to the left or right of you at the bar.

For more information, go to:  waltandwhitmanbrewing.com

CAPITAL DISTRICT — According to the newly released Regional Economic Recovery Dashboard, the largest increase in job numbers by industry in Saratoga County are in Health Care and Social Assistance, which grew from just over 10,000 in 2015 to more than 12,000 in 2020, or an increase of 20%. 

Transportation and Warehousing was up 32% during that same time, and Real Estate & Rental and Leasing (up 22%), and Utilities (up 21%) also showed large percent increases.  The largest percentage decline by far was in Arts, Entertainment and Recreation sector – down 801 jobs, or 25% when comparing Saratoga County trends from 2015 to 2020 – the latter being a year affected by the pandemic. 

The dashboard report comes via the Capital District Regional Planning Commission, or CDPRC, a regional planning and resource center first established in 1967 that serves Albany, Rensselaer, Saratoga, and Schenectady counties. CDRPC provides objective analysis of data, trends, opportunities, and challenges relevant to the region’s economic development and planning communities. 

Some additional points:

*Unemployment claims in Saratoga County peaked at 4,472 (a rate of just over 13%) one year ago this week – nearly five times higher than in late March 2019, before settling in to approximately 300 to 400 per week since Aug. 8, a week-to-week number of claims roughly twice the number of those one year prior. 

*Small business revenues in Saratoga County ended 2020 nearly 50% down compared to a pre-COVID baseline, according to the report. 

*Address Changes from New York City to Saratoga County has increased exponentially recently. There were a total of 14 such changes From January to March 2018, and zero from January to March 2019. In March 2020, there were 129 address changes in that one month alone, and the past five months have averaged nearly 70 per month.   

To read the report, go to: cdrpc.org.     

SARATOGA SPRINGS — After more than four decades providing quality housing, mental health, and substance use support services – Transitional Services has a new name. 

RISE was originally founded in 1978 and located near downtown Saratoga Springs, is a private, not-for-profit housing agency. Through a number of residential, supportive, and care management programs, we are licensed to provide trauma informed care and support to people with mental health diagnoses and substance use disorders.

RISE believes every person struggling with mental health and substance use has the power to RISE above those challenges. Through healthy housing and support services that respect the unique needs of every person, RISE knows that lasting positive change is achievable. Regardless of their situation, everyone deserves the chance to bring their talents and energy to their community, and to connect with people who value and respect them.

For more information about RISE, contact Sybil Newell at 518-587-6193.

CORINTH — Hudson River Community Credit Union (HRCCU) announced that Ball Corp. and Saratoga County Capital Resource Corp. will donate $2,000 in meals to families living in Corinth, as part of Ball’s ‘Give to Dine’ program and the Saratoga County Chamber of Commerce’s ‘Save Our Locals’ program. 

On Wednesday, March 10, Andrea Miele of Ball Corporation and Todd Shimkus of Saratoga County Chamber of Commerce presented HRCCU with a check for $1,500. Saratoga County Capital Resource Corporation also donated an additional $500 to the program bringing the total support to $2,000. HRCCU will use the funds to purchase $25 gift certificates from local restaurants, and will then work with Dr. Mark Stratton, Superintendent of the Corinth Central School District, to identify and distribute the gift certificates to 80 families living in the school district that are most in need of support. 

The donation comes after HRCCU and Corinth CSD in partnership with Regional Food Bank of Northeastern New York held food drives at Corinth Elementary School in the spring and summer of 2020 to provide much needed food assistance to families living in Northern Saratoga County. 

SARATOGA SPRINGS — Roohan Realty has announced Jeana Labas has joined the team as a licensed real estate salesperson.

Labas has been with Kodiak Construction for 7 years as their office manager and client selection representative. She helps new construction clients throughout their whole journey of building a home. Her passion in new construction and connecting people to their dream home has driven her to also join Roohan Realty as Kodiak Construction’s seller agent while maintaining her office manager duties. 

She was born and raised in the Saratoga Springs region, attended Clarkson University, and returned to the area after school to build a home in Wilton. Labas can be reached at jeana@roohanrealty.com. 

In the crucible that is COVID-19, there are lessons to be learned. We have collectively faced many challenges over the last 12 months, but the focus of this piece will be using the pandemic as an opportunity to reevaluate one’s finances. Risk takes on many forms in the investment world. The most visible and easiest to understand is the volatility that occurs on the bottom line of one’s account statement. We all like to see our account values go up, and we don’t necessarily think about the risk it took to get there; in fact, sometimes we don’t care.  That is until the other side of the coin presents itself and your portfolio takes a hit. This past year has us re-evaluating many things in our life.  For the sake of your financial future, the following considerations should be made with regards to your finances.

First, an evaluation should be done of your entire financial picture. Don’t stop at your investments. Assess insurance coverage. Quantify debt to equity. Run some retirement projections. Identify opportunities for improvement. If you are already retired, look at your budget and withdrawal rates. It is easy to get caught in the hysteria of daily fluctuations in the stock market but viewing the entire picture can provide peace of mind or a better idea of where to focus efforts moving forward. 

Next, examine the risk in your portfolio. Ask what types of risk you are taking. Are you concentrated in a certain style, sector, or region? Is there enough diversification in your portfolio? While markets are green, it is easy to say that a certain level of risk is appropriate. What happens during events like March 2020 gives a taste of what true risk tolerance is. We have all heard the axiom that more risk equals more reward. A slight, but necessary, adjustment to that statement is that more risk equals the potential for more reward. That’s the nature of risk. If it were guaranteed, it would be a CD at a bank. History was written in such a way that markets immediately bounced back, but there is no guarantee of that occurring in the future. 

Finally, focus on things within your control. Unfortunately, we have no way of controlling what happens in the stock market. We can, however, control how much we save on a regular basis. Investment returns are the sizzle, savings rates are the steak. For those still in the accumulation phase of their career, savings rate is much more important than rate of return. For those already in retirement, spending rate is where to focus. A financial journey is a never-ending process and having an objective second set of eyes can help with all the above.

SARATOGA SPRINGS — Stewart’s Holiday Match Program has donated $5,000 to Franklin Community Center’s Project Lift.

Project Lift currently operates in all six of the SSCSD elementary schools with a graduate program in the middle school for sixth graders. The unique and comprehensive program has operated in the Saratoga Springs City School District for over 30 years and places strong emphasis on positive youth development, raising self-esteem, and the development of refusal, decision-making, problem solving and communication skills.

The program has been operating a modified, in-person, program this school year, beginning in October, and is looking forward to returning to a full program as soon as it is safe to do so.