Career Services: Deamen College helps students secure a good job
“Daemen’s approach is unique, created specifically for student success.”
family vacation: Visit the CNY RV Show Feb. 28 - March 3 at the state Fairgrounds.
On March 6, read about Excellence in CNY and Madison County business.
“There’s a huge variety of models in every price range.” To read more see page 7.
To read more see page 2
Excellence in Education Excellence in Financial & Professional Services....Page 7 February 27, 2013
2013excellence A supplement to Eagle Newspapers
Higher costs for higher education
Obama Administration releases College Scorecard to hold colleges accountable for rising costs By Cheryl Seligman During the State of The Union address on Feb. 12, President Barack Obama spoke about a growing concern regarding the affordability of higher education, and stated that the rising costs are keeping too many individuals out of college or leaving them with too much debt. “Colleges must do their part to keep costs down,” he said, “and it’s our job to make sure they do.” With that, Obama asked Congress to change the Higher Education Act so as to include affordability and value as factors in deciding
which colleges receive particular forms of federal aid, and also announced that his administration would release the new College Scorecard the following day, to be used to compare schools by “where you can get the most bang for your educational buck,” he said. The College Scorecard, which the U.S. Department of Education made available on Feb. 13 on whitehouse.gov, supplies families and students with financial information about institutions across the country that can “help students choose a school that is wellsuited to meet their needs, priced affordably, and is consistent with their educational and career goals,” according to a Feb. 13 Department of Education press release. “We know students and families are often overwhelmed in the college search process — but feel they lack the tools to sort through the information and decide which school is right for them,” U.S. Secretary of Education Arne Duncan said in the release. The College Scorecard features information about school costs, graduation rates, loan default rates and median borrowing. It is also expected to include details
about current earnings of former students who borrowed federal student loans, though that information is not available as of yet. Users of the new interactive tool can search institutions by name, or sort based on any single selection or combination of criteria, including degree and major; occupation; awards offered; state; region; zip code; size; distance education; and campus setting. “Students and families are concerned about the cost of going to school, and that they may have to borrow to pay for school,” said Kay Devesty, Syracuse University’s financial aid director. “So this can be the beginning of very helpful information about Syracuse University or other schools, to see exactly how much you are anticipated to borrow.” According to the College Scorecard, the average net price for undergraduate students at Syracuse University is $27,994 per year, and families typically borrow $24,300 in federal loans for a student’s undergraduate study, which is
See Scores, page 3
What is the average net price per year for undergraduate students at a school? (Net price is what students pay after subtracting grants and scholarships from the school’s cost of attendance.)
How much do families typically pay per year to repay federal student loans borrowed for undergraduate study? (These data are based on a 10-year repayment plan.)
LOAN DEFAULT RATE
What percent of borrowers default on their federal student loans within three years of entering repayment?
What percent of full-time students receive their bachelor’s degree within six years? (These data are based only on full-time, undergraduate students who had not enrolled in college before.)
Cayuga County Community
Onondaga Community College
SUNY College of Environmental Science and Forestry
Le Moyne College
Feb 28th - Mar 3rd at NYS Fairgrounds Empire Expo Center
Morrisville State College Syracuse University
Go to Official Show Website to print out $
2 Off Coupons!
Feb. 27, 2013
Daemen College Career Services helps students secure a good job
Experience the excellence of large university academics with the personal touch of a small private institution
Works to create a personalized career strategy
Since its founding in Utica College is a private, comprehensive college lo1946, Utica College has been cated in central New York. a dynamic center of higher 1600 Burrstone Road, Utica, NY learning, with signature proThe college features many 13502 grams, innovative research, of the advantages of a large Office of Admissions; 792-3006 and a global outlook that has university — such as excelor 1-800-782-8884, email admiss@ lent academics and highly earned it an international utica.edu or visit utica.edu accomplished faculty — with reputation for thought leadDegrees offered: Bachelor of ership in economic crime the intimacy and very permanagement, health professonalized student experience Arts, Bachelor of Science, Master sions, and other fields. of a small private institution. of Science, Doctor of Physical Utica College’s 128-acre The College’s academic Therapy. Utica College offers both program integrates liberal traditional, ground-based and primary campus is located and career-related learning online degree programs. in a predominantly residenFor information on application in a highly student-centered tial section of west Utica, approximately three miles and teaching-focused en- deadlines, tuition, and financial from downtown Utica and in vironment. Utica College’s aid, visit utica.edu. undergraduate programs close proximity to a historic are organized within three schools: the School performing arts center, a highly acclaimed fine arts of Arts and Sciences, the School of Business and center, and other amenities. The campus houses Justice Studies, and the School of Health Profes- the Frank E. Gannett Memorial Library, the Ralph sions and Education. Within these three schools F. Strebel Student Center, seven residence halls, are 37 undergraduate majors, 20 master’s degree and administrative and academic buildings. Acaprograms, two professional doctoral degree demic facilities include F. Eugene Romano Hall, programs, and a number of pre-professional a state-of-the-art learning center for programs in and special programs. The college’s programs are the health professions, and a brand new facility accredited by the Middle States Association of to house UC’s world-renowned Economic Crime and Justice Studies programs. Schools and Colleges.
“Daemen’s approach is unique, created specifically for student success.,” said Director Dr. Maureen Millane. “Our program is called iCAP, which stands for individual Career Action Plan. It spans four years. Year one is Explore, where students learn about themselves and Career Services; the second year, Experience, is about participating and networking in the real world. In year three, Prepare, the focus is on planning for your future life. The fourth year, Achieve, is all about setting the plan in motion.” Students learn about iCAP in detail at the Career Services Office and online at careerservices @daemen. edu. The staff guides students through the various steps toward their career goals, and helps students to set up their personal career plan. Daemen’s Career Services Office also offers students many different options for a wide range of internship experiences. “We offer students a wide range of opportunities to go out and experience the real world related to their major. An internship can often make the difference in receiving a job offer. Students have the opportunity to see what a particular career field is actually like, and can include clinics, practicum, and student teaching, as well as internships,” notes Millane. Daemen students are encouraged to activate an account on the College Central Network, described as the nation’s largest network of college job seekers. The network allows students with an account to see job postings for over one million registered employers from around the country — as well as jobs posted exclusively to Daemen College. Students can create, upload and update a resumé, portfolio, or cover letter; receive emails about programs, services, and job-related topics; career advice; podcasts; and much more. Each semester Daemen students take advantage of a campus Career Day giving them the opportunity to network with a wide range of Western New York companies. For more information about Daemen College, call 800-462-7652 or 716-839-8225 or go to daemen. edu.
Utica College at a glance
Daemen’s program, iCAP, which stands for individual Career Action Plan, spans four years. Year one is Explore; the second year, Experience; year three is Prepare, and the fourth year is Achieve.
Feb. 27, 2013
SUNY Oswego repeats on list of ‘Best Value Colleges’ abroad options,” and “wonderful connection to alumni” who help students find their way into careers. “We are delighted once again to be recognized by the Princeton Review,” said Dan Griffin, interim director of admissions at Oswego. “It speaks to our commitment to education, to student development, and the wide variety of in-demand programs we offer. Particularly during these difficult economic times, to be recognized as a ‘Best Value’ means a lot to our students and their families.” The editors of the Princeton Review quote Oswego students they surveyed who described the college as “a great education for the money,” “friendly” and “helpful,” a place where everyone finds acceptance in the variety of student clubs and opportunities for involvement. According to the Princeton Review, it selected “Best Value Colleges” based on institutional data and student opinion surveys collected from 650
colleges and universities that it regards as the nation’s academically best undergraduate institutions. Criteria included the quality of academics, cost of attendance, financial aid, percentage of graduating seniors who borrowed from any loan program and the average dollar amount of debt those students had at graduation. Oswego is one of 18 New York colleges on the list including seven SUNY institutions: four of the public university system’s doctoral-granting campuses and two other master’s-level colleges like Oswego — Geneseo and Purchase. A 152-year-old college on the shore of Lake Ontario, Oswego offers more than 100 programs of study in its four academic units: the College of Liberal Arts and Sciences, School of Business, School of Communication, Media and the Arts, and School of Education. It has The Princeton Review is a Massachusetts-based education services
Shirley Peng, right, a senior chemistry major and journalism minor at SUNY Oswego, talks with Dr. Fehmi Damkaci, assistant professor of chemistry. SUNY Oswego next fall will open a $118 million science complex, the Richard S. Shineman Center for Science, Engineering and Innovation, providing students in the sciences and related programs a state-of-the-art learning facility. It ispart of the lakeside college’s $800 million campus renewal program, which — in addition to the primary goal of improving the learning environment for students — aims to meet rigorous standards of environmentally responsible construction. company known for its college rankings. SUNY Oswego has appeared in every edition of the company’s “The
Scores then paid back at approximately $279.65 per month over a 10-year period. Devesty noted that while every school would prefer to have a loan default rate of zero percent, she is proud of the Syracuse University default rate, which is 3.9 percent, compared to the national rate of 13.4 percent. “But really, what is the percentage of students that are repaying their loans?” Devesty said. “In Syracuse University’s case it’s a very large percentage, and that sort of puts a positive spin on it — that students that go to Syracuse University, the majority of them, when they get out of school and complete their degree, are able to find jobs and start supporting themselves, which includes repaying their student loans.”
Best Northeastern Colleges,” and Oswego’s School of Business appears each year in its “Best Business Schools.”
From page 1 While Gary Lucas, a certified college planning specialist at United Financial Services in Liverpool, thinks the College Scorecard could be helpful in some circumstances, he doesn’t think it will make a huge impact because one of the biggest expenses students and families face is a lack of career planning. “A four-year degree takes about six years to get,” Lucas said, noting how few people receive the proper information to know what they want to do before heading to college. “If you switch majors and transfer out,” he added, “what good has [the College Scorecard] done you?” In Syracuse, Lucas has noticed that most students stay relatively close to home, many attending Syracuse University, the SUNY schools, Le Moyne
College or Rochester-area schools, for example. And because students tend to stay local, they are able to find much of the information otherwise obtainable from tools like the College Scorecard by attending any of the area’s college fairs. “Using the [College Scorecard] information is beneficial; there’s no question about it,” Lucas said. “But it’s way down on the totem pole for what students and parents need to do to be prepared for school and find the right college.” The first priority should be career planning, Lucas said, because “students and parents don’t know what they don’t know.” He suggested that students complete career assessments so they might find out previously unknown information about themselves.
Second, he advised families to make sure their finances — income and tax returns, for example — are in order so as to qualify for the most financial aid at a given school, and then take a look at the information in the College Scorecard. But the tool is just one more avenue, he said, and while some people will benefit, it won’t save parents money, nor will it help students find the right schools. “Finding a place that’s a right fit and being able to afford it — you don’t want one to impact the other, but they certainly do go hand in hand,” said Devesty, the Syracuse University financial aid director. “So you want to find the right affordable fit. … I think that in the back of your mind, you’re always thinking cost, even though you want to go to the best place for you.”
The Princeton Review and USA Today have named SUNY Oswego to their 2013 list of 150 “best value” colleges and universities in the nation. The list of 75 public and 75 private institutions appears in the book “The Best Value Colleges: 2013 Edition,” released Feb. 5 by Random House and Princeton Review, as well as on USA Today’s website at bestvaluecolleges. usatoday.com. “Providing a high-quality education, as well as preparing undergraduates for the job market and a life of continued learning, are paramount at Oswego,” Princeton Review states in the book’s profile of SUNY Oswego. It cites the college’s unique Oswego Guarantee, which promises undergraduates that their on-campus room and board costs will not increase during their four years of study. The profile praises the college situated on the shore of Lake Ontario for its “picturesque natural setting” along with its “strong honors program,” “excellent study-
Feb. 27, 2013
Wells College: The education of an extraordinary life
Wells College emphasizes the exploration of ideas from multiple perspectives, connection with a close community of professors and friends, seminar classes that allow for deep discussion and scholarship, and an emphasis on experiential learning, collaboration and real-world preparation. We attract a special kind of student—one who appreciates immersion in a wide range of liberal arts studies and a commitment to global citizenship.
The Wells experience
Personal mentoring from professors. A strong emphasis on experiential learning through internships,
A high-quality, affordable education
Hands-on learning outside the classroom. We are serious about preparing students for graduate and professional school, and we guide students throughout their entire time and beyond. The Office of Experiential Learning and Career Services is dedicated to helping students locate internships, providing individual career counseling sessions, managing student employment, and connecting students with a network of Wells graduates. With the assistance of staff and faculty and a database of more than 2,000 previously completed internships, students may choose a placement anywhere from right here in the Finger Lakes, to their home communities, to study abroad locations. Internships normally take place during the January or over the summer, but may
also be completed during the semester. All students can receive academic credit for internships, and many students have received job offers and graduate school acceptances because of the excellent and varied real world experiences gained through their Wells internships.
With 50 student organizations, 16 athletic varsity teams, social clubs, community service projects, student government, religious affiliations and theatre and performance groups, you’ll find every day at Wells is a new adventure. Our students live in eight residence halls in a variety of architectural styles and room types—from the newly refurbished Weld House to the 19th century Glen Park Mansion, the former home of the Wells College founder Henry Wells.
Schedule a Personalized Visit
There is nothing like visiting campus and experiencing Wells in person. That’s when students have the chance to talk one-on-one with our admissions counselors—the best way to start to know us. Many of our admissions counselors are Wells graduates. They have firsthand experience … and can’t wait for the opportunity to tell students about it. For more information, call our Admissions Office at 800.952.9355, email email@example.com or visit us online at wells.edu.
Innovation: Hallmark of Independent Education
submitted photo 31446
Small classes, big ideas
study abroad and original research. A first-rate liberal arts foundation that combines classroom theory with real-world preparation. The cultivation of global citizenship and social responsibility. A connected, close-knit community on a beautiful Finger Lakes campus.
Head of School Scott Wiggins, pictured in front of MPH. By Scott Wiggins head of school, Manlius Pebble Hill School
Wells is a nationally-ranked liberal arts college—located on the beautiful shores of Cayuga Lake in New York’s Finger Lakes region—offering students 20 majors and 39 minors, as well as preprofessional programs in business, education, engineering, law and health. Our academic curriculum, residential atmosphere, athletics program and community activities focus on the development of the whole person. In every major, students learn real-life skills and graduate knowing they are prepared for our ever-changing world.
As the new head of Manlius Pebble Hill School, the region’s only prekindergarten - grade 12 independent school, I am frequently asked about the advantages of “independent” education. While the advantages are many, I always point first and foremost to the fact that, as an independent school, MPH is unencumbered by state-dictated curricula and state-mandated testing. MPH has the freedom to pursue cutting-edge academic initiatives — to the distinct advantage of our students. Two of the most exciting innovations we are looking at now come in the areas of online learning and mathematics instruction. In 2010, MPH was selected as a Malone Family Foundation School, receiving a $2 million endowment grant used to provide financial assistance for top students and joining an active collaboration with other Malone schools, a group of 48 of the most highly regarded independent schools nationwide, along with one college and the Stanford University Online High School (OHS). A consortium of Malone schools has been working closely with OHS to develop the Malone Schools Online Network (MSON), which will launch next fall. MSON will enable students at Malone schools to take courses online — in real-time seminars — from teachers at member schools. Students will be able to engage in active learning with classmates across the country — the kind of collaboration fast becoming the order of the day as the digital age transforms the landscape of education, government, commerce, and human interaction. MSON teachers will share their expertise across schools. MSON schools, which alone might not have been able to attract sufficient enrollment in specialized courses, will be able to join together to offer those courses online and attract students in participating schools nationwide. MPH has also been reassessing our Lower School mathematics curriculum, prompted by emerging and persuasive research that indicates many traditional approaches to See MPH, page 10
Feb. 27, 2013
Bryant & Stratton College: Providing an outstanding personalized career-focused education Central New Yorkers are very fortunate to have quality colleges and universities from which to choose when deciding to get a degree. Each institution offers their own niche of education and degree programs. If you are looking to obtain your associate or bachelor degree to increase your employability, then look no further than Bryant & Stratton College. For over 155 years their main goal has been to deliver an outstanding education in a personalized environment. Who wouldn’t want to be part of that legacy? As a student at Bryant & Stratton College, you will learn in small classes, taught by highly credentialed professionals. Curriculum is designed to include the latest trends and procedures so you are prepared to execute them during your internship experience. In addition, the college has special weekly workshops that are offered to enhance what you are learning in the classroom. Bi-annual career fairs give students the opportunity to formally network with area employers on the college’s campuses. By the time you are ready to go on your job interviews you will have the education and the experience to put yourself at the top of any employer’s hiring list. Upon graduation, Bryant & Stratton College alumni enjoy placement assistance from the College’s Career Services department. Additionally, career advisors will help them spruce up their resumes and create dynamic and effective cover letters. The college affords degreed students the opportunity to enroll in various certification classes — in all fields — to help them differentiate themselves from other applicants and co-workers. Having the certification in addition to their degree is a plus to employers who are looking to promote from within. The certifications may be used to help negotiate higher salaries, more vacation time or flexible hours. Once you have decided that you want to attend a student-cen-
tric, career-focused, small, private college all you need to do is call to set up an appointment to meet with an admissions representative. Think of them as the captain of your enrollment team that consists of a financial aid advi- Call or stop by the campus nearest you today: Liverpool, 652-6500, or Syracuse, 472-6603. sor along with your who graduated decades ago. And if you have college credits you earned academic advisor. This enrollment team will ensure that the elsewhere, you may be able to apply them to one of their programs, admissions and registration process is efficient and personalized. reducing the time it takes to earn your degree. Plus, the college offers No two applicant’s needs are the same and everyone is treated as Transfer Grants to students who started college at other institutions. the individual that they are, from the very first phone call to the Call or stop by the campus nearest you today: Liverpool, 652last day of classes and beyond. 6500, or Syracuse, 472-6603. You can also visit bryantstratton.edu Bryant & Stratton College attracts a diverse student body, com- or friend them on facebook: facebook.com/BSCNorth or facebook. posed of people who just graduated from high school as well as people com/BSCSyracuse.
Upon graduation from high school or the equivalent, you are seemingly faced with two choices; you can go out into the real world to find a job, or you can continue your education at a college. That can be a tough choice, both routes have their merits. Those who try to have it have it both ways, working and going to school often find that they miss out on some of the better aspects of work and school, be it lucrative extra shifts at work or extra-curricular activities at school. Well, one college has structured itself to best provide its students with an experience that marries the best parts of real-world work experience and thorough and practical instruction, Morrisville State College. An action-oriented, interactive learning lab, Morrisville is a national leader in experiential instruction. Programs are structured around students putting to use their energy and creativity toward finding solutions to problems they will face when they go out into the real world. This is because many of the college’s degree programs are run like a business, with a focus on entrepreneurship and innovation. Morrisville’s commitment to hands-on learning extends beyond the campus with an internship requirement for more than 90 percent of the student body prior to graduation. Morrisville State College’s entrepreneurial, business-like focus motivates the institution to stay ahead of the curve. As the first college in the nation to implement the latest generation of wireless technology across the entire campus to replacing all students’ landline phones with cell phones, Morrisville approaches its mission to provide a superior education for students like a Fortune 500 company. Simply put, Morrisville provides the type of interactive learning labs that students will want to work in. Too many to mention in one place, a modern automotive building designed to look like a dealership, an open-to-the-public fine dining restaurant, a historic barn converted into an ultra-modern design studio, and a multi-million dollar equine rehabilitation center complete with a pool, stables, and underwater treadmill are accessible to students from the moment they step on campus. Just like there is no substitute for hands-on experience, there really is no substitute for seeing all that Morrisville State College has to offer. Learn more about the school, including a new degree in Applied Psychology and a soon-to-be launched Video Journalism degree by contacting the admissions office at 684-6046 or firstname.lastname@example.org. Or visit morrisville.edu, to register for an open house on April 13 or to schedule a personalized tour of the college. With more than 75 degrees and 15 intercollegiate NCAA athletic teams, there is something for everyone.
Morrisville State College provides realworld experience, thorough instruction
Feb. 27, 2013
IBEW is strong and viable International Brotherhood of Electrical Workers (IBEW) Local 43 is a strong and viable organization that has been in existence for 116 years; has over 1,200 members. Through a collective bargaining agreement, IBEW Local 43 supplies the National Electrical Contractors Association (NECA), consisting of more than 60 contractors in the Central New York area, with the highest quality of trained and competent electricians, apprentices and technicians. The pride and workmanship that the IBEW Local 43 and NECA exhibit can be observed throughout numerous major construction projects within our 11 county jurisdiction. The IBEW has an outstanding reputa-
tion for being a progressive union and is one of the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) largest and fastest growing unions. The IBEW is an organization made up of highly experienced staff for negotiating the best collective bargaining agreements, ongoing labor educational programs to fit the needs of the members, and has an established scholarship program (IBEW Founder’s Scholarship Program) for providing qualified members and their families with the opportunity to help advance in their learning and seek a college education. Over many years, the IBEW has constantly worked to better wages and working conditions
of its members and to create a society in which social justice and human dignity are a reality to all citizens. IBEW protects members by insisting upon a drug free work force, realistic safety standards and opportunities for enhancing theirs skills which leads to an increase in job security and higher wages. Our training program provides technical instruction to all classifications of electricians, as well as, OSHA 10, first aid and CPR. We provide hands-on, state-of-the-art equipment and courses to keep our members up-to-date and knowledgeable on new codes and the latest technologies. Apprentice electricians serve in a New York state-approved See IBEW, page 7
Has 116 years of history, 1,200 members
Submitted are solar panels being installed by IBEW/NECA electricians at the Baker Labs Building of Syracuse University.
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Working and IBEW IBEW Local Local 43 43 have have developed developedthe the Working together, together, NECA NECA and power electrical construction construction project project quickly, quickly,safely, safely, power to to handle handle any any electrical and cost effectively. We have developed a convenient directory that and cost effectively. We have developed a convenient directory that gives quickly locate locate the the contractor contractorbest bestsuited suitedtoto gives you you the the power power to to quickly your project’s needs. From new residential construction to large scale your project’s needs. From new residential construction to large scale industrial we’ll provide provide the the highest highest level levelofofexpertise expertisetoto industrial installations, installations, we’ll meet projects present. present. The The directory directoryisisorganized organized meet the the challenges challenges your your projects alphabetically by contractor. At the end of the booklet, you’ll ﬁnd user alphabetically by contractor. At the end of the booklet, you’ll ﬁnd a auser friendly contractor’s area areaof ofexpertise. expertise.To Toobtain obtainyour your friendly chart chart listing listing each each contractor’s Electrical Contractor Directory, call 451-4278. Electrical Contractor Directory, call 451-4278. NACA/IBEW contractors and andelectricians electriciansprovide providea ateam teamapproach approach problem-solving, innovative NECA/IBEW contractors to to problem-solving, innovative techniques, and expertise in the latest technologies through the Central New York Joint techniques, and expertise in the latest technologies through the Central New York Joint Apprenticeship Training Committee. Committee. When Whenyou youhire hirea aNECA/IBEW NECA/IBEWcontractor, contractor, you sure Apprenticeship Training you cancan be be sure you’ll professional service, service, highly highlytrained, trained,skilled skilledelectricians, electricians,positive positive labor-management you’ll receive receive professional labor-management cooperation, and high safety standards for your project. cooperation, and high safety standards for your project. NECA contractors contractors employ employonly onlyskilled skilledIBEW IBEWelectricians electricians who currently NECA who areare currently AA Tradition Tradition of of enrolled in or who have completed more than 10,000 hours of classroom enrolled in or who have completed more than 10,000 hours of classroom instruction and and on-the-job on-the-jobtraining. training.Qualiﬁed Qualiﬁedapplicants applicantsareare accepted instruction accepted intointo the ﬁve-year Central New York Joint Apprenticeship Training Committee the ﬁve-year Central New York Joint Apprenticeship Training Committee (JATC) Electrical Electrical Training Training Program. Program.Apprentices Apprenticesarearepart partof ofthethe Drug(JATC) DrugFree Apprenticeship Apprenticeship Workforce, Workforce,and andwork workunder underthe thedirect direct supervision Free supervision of of journeyman electricians. journeyman electricians.
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Localprojects projectscompleted completedbybyNECA NECAand and IBEW Local Local thethe IBEW Local 43 include Syracuse landmarks: the Carrier Dome and 43 include Syracuse landmarks: the Carrier Dome and thethe OnondagaCounty CountyConvention Convention Center. Onondaga Center. For more more information, information,orortotoﬁnd ﬁnda aprofessional professionalelectrical electrical contractor, contact For contractor, contact thethe Fingerlakes Chapter NECA, Inc. at (315) 451-4278. If you’re interested in a future Fingerlakes Chapter NECA, Inc. at (315) 451-4278. If you’re interested in a future in the the electrical electricalindustry, industry,ororwant wanttotoﬁnd ﬁndout outthe the opportunities available you, in opportunities available to to you, loglog onto www.cnyjatc.org. www.cnyjatc.org.Those Thosewithout withoutweb webaccess access call (315) 546-0221 receive onto call (315) 546-0221 to to receive an information packet in the mail. an information packet in the mail. 32207
Feb. 27, 2013
2013excellence CNY RV and Camping Show Feb. 28-March 3 Yogi Bear…Family fun-close to you! Excellence in Financial & Professional Services February 27, 2013
A supplement to Eagle Newspapers
The 43rd Annual 2013 CNY RV and Camping Show will be held Thursday Feb. 28 through Sunday March 3 at the New York State Fairgrounds, Syracuse. Show hours are noon to 9 p.m. Thursday, 10 a.m. to 9 p.m. Friday and Saturday and 10 a.m. to 6 p.m. Sunday. The show will occupy three huge buildings: Center of Progress, Exhibit Center and Many models will be featured at the CNY RV and Camping Show. Horticultural Building Sponsored by the RV Dealers Association of Syracuse and Campground Owners of New York, the show will feature seven dealers, hundreds of models including recreation vehicles almost any vehicle can tow. There will be great deals and on-the-spot financing as well as low bank rates and low monthly payments available. Come and browse the new 2013 and pre-owned truck campers, travel trailers, fold downs, fifth wheels, van campers, park model, and motor homes, as well as campground and destination information to stay for a night or a season. Parts and accessories will be available too. Are you an animal lover? Stop by the SPCA / Wanderer’s Rest / Humane Society / Helping Hounds display in the Exhibit Center. See dogs-in-training who would make great camping companions. Girl Scouts will be on hand with scouting information in Exhibit Center and Boy Scouts will be in the Horticultural Building making pinewood derby cars and racing them, as well as fly tying. Look for the American Red Cross Traveling Donation Center Friday and Saturday near Gate Two. Campground Owners of New York is offering campground information and partnering with Camp Good Times to help raise funds to send kids to camp. Stop by their booth and pick up a balloon. Shriners Hospital for Children will be offering information on campfire safety. Kids under 16 are free and get a free Camping Kids Meal in the Empire Room, and admission is half price on Thursday. There will be free parking and shuttle bus service at the event. Discount coupons and more information available at cnyrvshow.com.
Open since 1970, Yogi Bear’s Jellystone Park offers fun activities for families wishing to “get away,” relax and enjoy being outdoors. Weekends from May 1 until the end of October are planned around a different theme. The recreation staff provides planned activities seven days a week from June 25 until Labor Day Weekend. A typical day includes flag raising with Yogi Bear, wagon rides, crafts, field games and time with both Yogi Bear and Boo Boo. Camping facilities include campsites, cabins and park trailers and are available by day, week, month or season. The large Ranger Station includes a game room, Cindy Bear Kitchen serving meals and ice cream, a fully-stocked store for gifts, souvenirs, RV/camping supplies, hardware, groceries, tackle and
live bait. Propane is sold by the pound or metered. The annual Jellystone Park Open House will be May 18 and 19. The park will be open on Saturday and Sunday for the general public to tour the park facilities. There will be wagon rides, children’s activities, games with Yogi Bear and Boo Boo, a camper yard sale, crafters and entertainment. A great spring family fun day! One of the most popular attractions recently is the Jumping Pillow. The camper response was truly awesome by all ages. Children, parents and grandparents could be observed bouncing on the pillow from opening until closing each day. The pillow is roughly 34 feet by 70 feet and can accommodate as many as 45 people of varied ages and weights. Parents remarked
that family members were tired at the end of the day. They were ready to relax by the campfire then get some rest to be ready for the Pillow the next day. Bouncing — fun and healthy exercise at the same time. Yogi Bear’s Jellystone Park is located at 601 County Route 16, Mexico. For more information call 963-7096 or visit jellystonecny. com. Propane is available yearround; call ahead. Store hours starting April 1 are 8 a.m. to 5 p.m.
From page 6 Heart Association, Hospice, Hospital Foundations (St. Joseph’s, Upstate Medical Center, Crouse, Community General, Faxston St. Luke’s, St. Elizabeth’s and Cortland), Charity for Children, Onondaga Community College Foundation, Syracuse City School District Educational
Foundation, Ryan McMahon Child Advocacy Center, NAACP, and many other worthy charities in our area. We will continue to take an active role in helping out the many respected charities throughout Central New York as we move into 2013 and years to come.
Yogi Bear’s new Jumping Pillow is awesome and family tubing is great fun, too.
FAMILY FUN LOCATED CLOSE TO YOU! Sites by Day, Week, Month, Season Rental Rustic and Luxury Log Cabins • RV Park Trailer Rentals Full Activities Staff for themed weekends Planned activities every day - July & August • Yogi Bear™ & Boo BooTM • Pool • Playgrounds • Wagon Rides
More Than Just a Campground!
Flatrock Sporting • Cindy Bear KitchenTM • Golf of Mexico (mini-golf) Gemstone Mining • Gifts • Tackle • Bait • Ice • RV/Camping Hardware • Groceries • Propane
el Spin wheow at RV Sh nt u win disco for coupons g campin
five-year program in which they receive 10,000 hours of on-the-job training, as well as 1,000 hours of classroom instruction. Over the past 10 years, on average, we have placed 25 new apprentices to work in the electrical industry each year. In 2012, our members worked over 1.9 million hours throughout Central New York resulting in one of our most productive years in recent memory; 2013 looks to be as promising. Our end customers lie within the areas of commercial/industrial and residential construction as well as the tele-data field and security and fire protection. Our contractors can rely on employees who are well trained in all aspects of the electrical construction industry. Our members are participants in the “Code of Excellence Program”. This innovative program ensures that customers are 100% satisfied with the union electricians on their job sites. Last but not least, IBEW Local 43 and NECA are involved with various charitable causes throughout the Central New York area. Our organization and its members volunteer their time and provide financial gifts to several worthwhile charities such as: United Way, American
Jellystone Park marks 43rd year
w o l l i P g n i p m u J
For people ages 3 to 83. The object is to get your opponent wet & have fun!
County Route 16, Mexico, NY 13114 (Between Routes 104 and 104B)
Feb. 27, 2013
Longley Dodge is now a Business Link Dealer Adds commercial line of trucks, customer service program Longley Dodge in Fulton is adding to its already extensive inventory of quality vehicles, offering a new commercial line of trucks. “We are now a Business Link Dealer,” said Dennis Longley, president of Longley Dodge. “We offer the full Ram truck line, from the Ram 1500, Motor Trend Magazine’s 2013 Truck of The Year, to the 3500-5500 series trucks that are available with dump bodies, stake racks and rollback wrecker units.” Longley said the move allows the dealership to further its ties with Chrysler and Dodge, “handling the full line of what they provide.” “We are trying to build the business to take care of local contractors and extend to them the excellent service for which we’re known,” he said, adding that the dealership has ordered a new 30,000-pound hoist to handle the heavy duty trucks. Good service after the sale has been the cornerstone for success at Longley Dodge. Being open 65 years has established a reputation for Longley Dodge of customer satisfaction and quality service, the qualities which earned the dealership such a good reputation. But, even so, the dealership is always looking for ways to make their service after the sale even better. “We have added VIN Solutions, a program to better take care of our customers and follow up with their needs,” Longley said. “Our customers are our number one priority.” And the service at Longley Dodge in Fulton is what keeps custom-
ers coming back — some have come back 30 times. “We had one family that bought over 30 vehicles from us, starting with a 1960 Studebaker,” Longley said. Besides the generations of car buyers are the three generations of staff at Longley Dodge. Earl and Harold Longley began the business in 1947 strictly as an auto body shop. The family dealership was established in 1955 and the brothers added the Dodge line in 1964, making Longley the longest standing Dodge dealership in Oswego County. Earl’s son Dennis and Harold’s son Gene run the business now, while their sons also work at the dealership. “We’re a family organization,” said Longley. “I think that has a lot to do with it, especially sine we’re in a small community. People like to come here and know they’re going to get good service.” And that service isn’t overbearing, Longley said. “Our sales staff doesn’t pressure you,” he said. “They’re not pushy. We don’t like to operate that way, because it doesn’t really serve the customer as well.” That’s why people keep coming back. “A lot of our business is repeat business,” Longley said. “People come back to us.” And if there is a problem, people know they can go to the top to find a solution. “The buck stops at my desk,” Longley said. Dennis learned the business from the ground up. After graduating
photo by maggie reed courtesy of palladium times
From left are Gene, Dennis and Doug Longley. from Northward University’s Automotive Business School he worked in the body shop for 10 years. He joined the sales team in the late 1970s and served as sales manager from 1980 to 2000. He raced for 10 years and in 1989 won the ESTA Mod Championship at ESTA Drag Strip in his 1964 Plymouth Sport Fury. He has rode Harley-Davidson motorcycles for years. Dennis’ son Doug is now the sales manager, a position he has held for more than seven years. Jack Montague is the used car manager. See Longley, page 10
‘A golfer’s dream … realized’ Discover Colgate University’s “Diamond in the Rough” with membership value second to none. Enjoy an original Robert Trent Jones championship layout with pristine conditioning. Marian Blain long time PGA Professional at Seven Oaks touches on why becoming a member at Seven Oaks is advantageous. At Seven Oaks we are very proud of the diversity of our membership and we continue to provide an open friendly club environment to not only our members but to our alumni, guests and public as well. We welcome players interested in retaining our identity as a true golf club who share our core values of a challenging, high quality course with uncrowded playing conditions and modest facilities. We
are dedicated to making Seven Oaks enjoyable, accessible and affordable for our members.
In 2012 Colgate University Seven Oaks Golf Club was honored by the New York Gold Association. The plaque stated: New York State Golf Association President’s Award 2012 Golf Course of The Year. The award states: In appreciation of their support for generously hosting numerous qualifiers and championships for the NYSGA and USGA, we present the 2012 Golf Course of the Year award to the Seven Oaks Golf Course and PGA Professional Marian Blain. Also in 2012 Marian Blain Seven Oaks long time PGA Professional was the first female to be elected into the Central New York PGA Hall of Fame. Last season Seven Oaks introduced “Tee it Forward” to bring “fun” back into the game. Our See seven oaks, page 10
Becoming a Member means unlimited opportunity to experience an original Robert Trent Jones Championship Layout with pristine conditioning.
2013 Memberships Are Available At Colgate University Seven Oaks Golf Club. Save $100 if paid by April 1, 2013
SPECIAL RATES AVAILABLE
If you are under 35, or over 80 (before April 1, 2013).
New for 2013! For the golfer who would like to play a dozen rounds at Seven Oaks without a full membership...
Colgate University Seven Oaks Passport 630 for 12 full rounds
"Tee It Forward" at Seven Oaks!
The White Course is now just a little over 5400 yards for the player that can hit a 5-iron 150 yards. Come experience a championship golf course in pristine condition at a distance that is challenging but enjoyable and will leave you wanting to come play again.
Colgate University Seven Oaks Golf Course East Lake & Payne Streets, Hamilton, NY 13346 315-824-1432 • www.sevenoaksgolf.com
By Jennifer Wing
Feb. 27, 2013
Pathfinder Bancorp Inc. announces fourth quarter, record full-year earnings exit from, the U.S. Treasuryâ€™s Capital Purchase Program. âœ“ Return on average assets was 0.61 percent for the three and twelve-month periods ended Dec. 31, 2012 compared to 0.41 percent and 0.55 percent, respectively, for the corresponding periods in 2011. âœ“ Return on average equity was 7.04 percent and 6.68 percent for the three and twelve month periods ended Dec. 31, 2012, respectively, compared to 4.41 percent and 6.75 percent, respectively, for the same periods in 2011. âœ“ Total loans were $333.7 million at Dec. 31, 2012, compared to total loans of $304.8 million at Dec. 31, 2011, representing an increase of 9.5 percent. â€œQuality, organic loan growth has allowed us to continue favorable and forward earnings trends despite the strong headwinds of compressed net interest spreads brought on by excessive monetary policy intervention in the national economy,â€? stated Thomas W. Schneider, President and CEO. â€œAnnual earnings of $2.6 million represent a record level for the Company. Loan growth of $29 million, or 9.5 percent, while maintaining stable and strong asset quality, has been and will continue to be the key driver of sustainable earnings during this tepid economic recovery. We are confident in our market position to continue our favor-
able trends.â€? Income Statement For the three months ended December 31, 2012, net interest income increased to $3.8 mil-
lion from $3.6 million in the same prior year period as the decrease in net interest margin was more than offset by the increased amount of earning as-
sets, particularly loans. The net interest margin on a tax equivalent basis for the fourth quarter of 2012 continued to decrease to 3.52 percent from 3.68 percent
for the comparable prior year period as the yield on earning assets declined more rapidly than the rates paid on interest See pathfinder, page 12
Pathfinder Bancorp, Inc. (â€œCompanyâ€?), the mid-tier holding company of Pathfinder Bank, (NASDAQ: PBHC) announced its results for the three and twelve-month periods ended December 31, 2012. Highlights for the three and twelve month periods ended Dec. 31, 2012 âœ“ Net income for the fourth quarter of 2012 was $729,000 as compared to $436,000 for the comparable prior year period. This increase was primarily due to increases in net interest income and net gains on sales of securities, loans and foreclosed real estate. Net income for the full year of 2012 was $2.6 million, representing record net income for the Company, compared to $2.3 million for 2011. âœ“ Basic and diluted earnings per share were $0.26 and $0.25, respectively, for the fourth quarter of 2012 as compared to basic and diluted earnings per share of $0.10 for the fourth quarter of 2011. Basic and diluted earnings per share were $0.88 and $0.87, respectively, for the full year of 2012 as compared to basic and diluted earnings per share of $0.53 and $0.52, respectively, for the full year of 2011. Earnings per share were lower in 2011 because net income available to common shareholders was reduced in the third quarter of 2011 due to the $470,000 of accelerated discount accretion on preferred stock as a result of the companyâ€™s participation in, and
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Feb. 27, 2013
Leave a Legacy: Making a difference in the lives that follow Over 80 non-profits in the Central New York area, from Auburn to Utica, have banded together to share resources and spread the word about how simple it is to leave a gift to your favorite charity through your will. “Our message is a simple one,” says Laurie Walker, director of development for Eldercare Foundation and steering committee member of Leave a Legacy of Central New York. “Every individual who has been charitable in their lifetime can be equally charitable in their will or estate plans. It is a very easy process, and you don’t have to be a millionaire to make an impact.” Leave a Legacy is an educational campaign conducted by the National Committee on Planned Giving to inspire people to make charitable bequests. Bequests are just one type of “planned gift” (a gift that will be distributed sometime in the future to a charity that is meaningful to you). Through the Leave a Legacy campaigns, people who have made charitable bequests and other types of planned gifts share their stories in the hope of encouraging others to give in a similar way. Leave a Legacy of Central New York involves all types of local nonprofit groups, including social service and arts organizations, hospitals and educational institutions. The program is financially supported by sponsors including: Bond, Schoeneck & King, PLLC, Central New York Community Foundation, Strategic Financial Services, LLC, United Way of Central New York, WCNY, Association of Fundraising Professionals (AFP) – Central New York Chapter, The Rosamond Gifford Foundation, and the Planned Giving Council of Upstate New York. Leave a Legacy of Central New York does not solicit gifts for any particular organization. Instead, they encourage individuals
to support their favorite charity or charities. Walker understands the importance of this message. In 2010, the Eldercare Foundation became the beneficiary of a major gift from one of its founding members. The donor, a long-time advocate for eldercare services, included the Eldercare Foundation and three other not-for-profit organizations in his will, leaving a portion of his estate to each. As the fundraising arm of Home Aides of Central New York, the Eldercare Foundation works to support the agency’s efforts to recruit, train, and retain home health aides. The foundation’s mission was particularly close to the donor’s heart, as he had been the direct recipient of its services. His wife, who suffered from Alzheimer’s disease, was a long-term client of Home Aides of Central New York. Walker said the donor sought help from the The Eldercare Foundation received a bequest in 2010 from a long time client and board agency after realizing that caring for his wife was member of the organization. The gift will be used to support the organization’s mission too difficult to do on his own. “He tried to care for of caring for our community’s elders by giving them the support they need to live at home her at first, but the time and physical tasks became with dignity and independence. too much for him, so he called us for help,” she said. of any size will make a difference, and help change someone’s While it was a difficult time for him, his wife’s aides provided him with the support system he needed. “Our mission life for the better.” For more information, visit leavealegacyofCNY.org. became understandably close to his heart. He supported us as a The Eldercare Foundation received a bequest in 2010 from charitable organization with his time and money,” Walker said. “Now, even after his death, his commitment to our cause lives a long time client and board member of the organization. The gift will be used to support the organization’s mission of caring on through his legacy gift.” “Unfortunately, many people think that you have to give away for our community’s elders by giving them the support they a million dollars to make a difference,” says Walker. “But a gift need to live at home with dignity and independence.
condition at a distance that is challenging but enjoyable and will leave you wanting to come back and play again. We understand not every golfer can make a full commitment to become a member at a golf club, so the Passport Membership was created. The Passport Membership is designed for a golfer who has limited time, but would like to play at least a dozen rounds during a calendar year at a reasonable cost without committing to a full membership. Also the Passport is more flexible and allows you to use your 12 rounds on players in your group. This makes a great gift and also provides great savings for corporate golf as well. This how it operates: The Passport cost $630 and will run for the 2013 season only. Passport holders will receive 12 rounds of golf and receive the member’s rate on golf carts ($4 per
person savings). The twelve rounds cannot be split into nine hole rounds, but can be used on guests. There are no restrictions on days or times and a Passport can be purchased more than once. The Passport holder does not have full membership privileges of the club, but the club will extend the guest rate to anyone accompanied by you during one of your 12 rounds. Seven Oaks is truly a very unique golf experience that one should not be deprived of. You owe it to yourself if you are not a member to take a day and lose yourself in the breath taking rural village and enjoy the challenging flawlessly manicured championship original Robert Trent Jones golf course. The quaint ambience of the village and the beautiful college campus is also worth visiting. There is no better way to end a heavenly day than by having a scrumptious meal on Tiffany’s Terrace at the Seven Oaks Clubhouse. Remember there is always a reason to enjoy a day at Colgate University Seven Oaks. Spending a day at Seven Oaks is a relaxing
way to enjoy the outdoors and the company of others. So whether you are an avid golfer, sponsoring a charity event, company outing, an end of year league outing or corporate outing Seven Oaks is a great way to take advantage of the best value in the area. Be sure to visit our website (www.sevenoaksgolf.com) and take a look at all our options and opportunities new for this year or feel free to contact Marian Blain with any questions. Seven Oaks runs specials throughout the year and you are encourage to sign-up for our e-specials club. We hope to see you this season enjoying Colgate University’s “Diamond in the Rough”
From page 8
“He buys, sells and appraises used cars for us,” said Dennis. “You have to know used cars and trends and Jack stays on top of it for us.” There’s exciting news coming on some of Dodge’s new and improved 2013s. “The new 2013 Dodge Dart is getting rave reviews — people really like it,” said Dennis. “Produced from 1960 to 1976, the Dodge Dart is back with three different engines and 160 horsepower. We have one in stock — and have already taken many orders. They’re built with 68 percent high-strength steel, 10 air bags standard, and it’s the only car in its class that offers blind spot monitoring and rear cross path detection.” The Dodge Ram 1500 has had some major mechanical updates for 2013 including a more powerful engine and improved air suspension plus voice control and upgraded electronics. Its improved fuel economy is “Best in Class.” Longley Dodge, which has been on the web for more than 10 years, continues to grow. It is one of only a few dealers that have pictures and pricing online, with up to 25-plus pictures of each vehicle. The dealership is on Facebook and Twitter, just launched its mobile website for smart devices and has one of the fastest response times of any dealership. Due to customer demand, the service department is open from 8 a.m. to 1 p.m. on Saturdays. Longley Dodge is located at 1698 Route 57, just south of Fulton. They can be reached at 598-2135 or at longleydodge.com.
white tees measure just over 5,400 yards which is the perfect yardage for the player that can hit a 5 iron 150 yards or a driver 200 yards. We have four sets of tees that will allow any player to experience a championship golf course in immaculate
From page 8
From page 4
teaching mathematics in the United States (i.e. spiraling curricula covering a breadth of topics without sufficient depth) are responsible for the U.S. falling behind other countries in mathematics achievement. Our Lower School is investigating the Singapore math instructional approach and curriculum, which emphasizes concept mastery, a concrete-pictorial-abstract approach, metacognitive reasoning and use of model drawing to solve problems. The gist of the Singapore approach is contrary to that in use at most U.S. schools today — an approach that typically surveys a large number of math concepts (25 to 30 chapters and up to 157 individual math lessons) each year. Singapore Math focuses each year on a smaller number of content topics — about half a typical U.S. textbook — and emphasizes mastery or depth over breadth. Research shows that students in Singapore develop conceptual understanding, number sense, computational fluency and problemsolving strategies, outperforming their U.S counterparts when it comes to algebraic thinking at very early ages. Research indicates, too, that solidly learning math concepts in the elementary years builds the understanding and confidence to achieve in advanced math classes at the secondary level. These are but two ways MPH is on the move and looking to keep our curriculum innovative and the learning experience exciting.
Feb. 27, 2013
Proof positive for Oneida Savings Bank In these uncertain times, especially in the financial and insurance industries, Oneida Savings Bank is uniquely successful. The year 2012 brought about numerous company initiatives that added to or enhanced our already broad scope of complementary products and services. While many corporations were downsizing, Oneida Savings Bank and its subsidiaries were growing and hiring. While businesses were divesting product lines and services, Oneida Savings was acquiring companies,
creating new business lines, and combining complementary services to create greater customer and shareholder value. All of this adding, creating and combining, coupled with successful outcomes and financial improvement, yields a positive year in every aspect imaginable for Oneida Savings Bank. Each “plus” demonstrates our commitment to be a stronger, more dedicated and significant positive force for all of our employees, customers, communities and shareholders.
Another “add” for Oneida Savings
In 2012, Oneida Savings Bank officially entered the Capital District marketplace with its acquisition of the Schenectady Insuring Agency (SIA), Schenectady. SIA is a successful and well-respected, 100-year-old institution and this addition demonstrates Oneida Savings commitment to its growing Capital District insurance and risk management client base. SIA will have the benefit of Oneida Savings’ wholly owned subsidiary Bailey
Haskell & LaLonde Agency’s (“BHL”) team of professionals and comprehensive insurance and risk management product and service lines.
A winning combination
The amount of specialty services and products offered by Oneida Savings Bank and its subsidiaries has grown significantly over the years, and we have emerged as a sophisticated financial services company to the great benefit of our customers. Our acquisition of numerous
Photo from left to right: Eric E. Stickels, President & Chief Operating Officer; Michael R. Kallet, Chairman & Chief Executive Officer; Thomas H. Dixon, Executive Vice President & Chief Credit Officer.
See Oneida Savings, page 12
Seneca Federal: Navigating continued economic uncertainty, same community focus economy at large continues to feel the effects of the unprecedented slow economic recovery. They gave back to the community by participating in an event which helped paint, trim bushes and otherwise landscape a house at the South Side Block Blitz Cleanup. Here Seneca Federal was one of the many local businesses that fielded a volunteer team to help revitalize one neighborhood street in need of help. They also contributed to Baldwinsville Crew Booster Club, CNS Winterguard as well as LHS Marching Band Booster Club, to name a few, and continued sponsorship of the local Baldwinsville Schools scholarship fund. With little improvement in the national economy, which continues to experience a high unemployment rate and a flat interest rate environment, it is even more important to plan for sustaining the long-term viability of Seneca Federal, which continues to build liquidity and monitor and control interest rate risk. “Growth in capital continues to remain a focus of Management, and all our employees continue to seek ways to improve efficiency and reduce unnecessary expenses as the net interest margin continues to be squeezed,” stated Mrs. Russo. Consolidated capital, as of December 31, 2012 is a very healthy balance of $10.7 million. In remaining true to Seneca Federal’s charter of fostering homeownership, $9.5 million in local residential mortgage loans were originated in 2012. Seneca Federal continued participation in the Onondaga County Community Development (OCCD) Home Ownership Program targeting qualified low- and moderate-income households. The Board of Directors approved six $1,000 grants in August 2011, that were actually
used in early 2012 and in May the Board again approved six $1,000 grants, all of which were used in conjunction with the OCCD Program during 2012. All 12 grants helped to offset closing costs for low- to moderate-income households, targeting those in our community that need the most help in fulfilling their dream of homeownership. Late in 2011, Seneca Federal began its working relationship with its new Federal regulator, OCC, as their merger with the Office of Thrift Supervision was completed in July 2011. Seneca Federal recognized the many challenges ahead to meet the extensive regulatory changes brought forth by state and federal agencies. To better assist and inform customers and noncustomers, in 2013, Seneca Federal will continue to focus on education and training of its employees. Look to their new and improved website coming soon for more information. As a direct result of their first examination performed by the OCC, Seneca Federal instituted an independent, third-party internal audit process and started having formalized consumer compliance audits with an outside Compliance Consultant, all for the purpose of providing a more safe and sound financial institution and representing Seneca Federal’s commitment to not only customer information security but also a willingness to progress through tough economic times. The president expressed, on behalf of their Directors, Officers and Employees, a wish to thank all of its members and their communities who have remained loyal to Seneca Federal and allow them to provide you with your banking needs.
Katrina Russo, president – CEO of Seneca Federal Savings and Loan Association is very passionate about her community bank and its solid decision making. “2013 marks Seneca Federal Savings and Loan Association’s 85th year of providing financial services to communities within Central New York. We remain mutually-owned by our members, lending decisions are made locally, and personal customer service are all important attributes of Seneca Federal, which we believe set us apart from the ‘big’ banks,” stated Mrs. Russo. Seneca Federal has been fortunate to continue to have a dedicated staff of employees, officers and directors, who understand the importance of knowing their customers and providing them with the best possible service, all for the purpose of increasing member’s wealth through the highest salaries, lowest loan rates and highest deposit rates possible. She added, “We continually try to meet these goals while maintaining a net interest margin that will sustain the Association for years to come.” To further promote Seneca Federal’s ‘community’ atmosphere within the bank, on the heels of their first federal examination performed by the Office of the Comptroller of the Currency (OCC) and while working through an anticipated tumultuous 2012, they introduced an informal summer family picnic in July and re-introduced a more formal holiday gathering in December for the purpose of connecting with their fellow employees and some close business associates in a more relaxed setting. Seneca Federal also maintained its participation and contribution to various community events and programs as the
Feb. 27, 2013
Estate planning to ensure the future of your beneficiaries By Mary Anne Cody, Trust and Estate Attorney Mackenzie Hughes LLP
All the talk about the “fiscal cliff ” at the end of 2012 came partially to an end when Congress passed the American Taxpayer Relief Act of 2012 on January 1, 2013, but the results of that law means changes for estate taxes in 2013.
New federal estate and gift tax exemption amount
Under the law, the federal estate and gift tax exemption amount was set at $5,250,000 per individual for 2013 and is to be increased for inflation annually. This exemption amount is the value of assets that can be transferred by gift (during lifetime) or by bequest (at death) without the donor paying a transfer tax (gift or estate tax). This exemption amount is portable between spouses, meanMary Anne Cody ing that if you and your spouse have a large amount of wealth, and they die before you without utilizing the full amount of the exemption, it is possible for the surviving spouse to increase his or her exemption amount by the deceased spouse’s unused portion. Many of us are not subject to a federal estate and gift tax exemption, but take note that New York taxes estates that exceed $1 million in value. The $1 million dollar threshold (and the Federal threshold) includes assets in your name and assets under your control such as those in a revocable or living trust. There is planning that can be done to address New York’s estate tax threshold, though your estate may not be subject to the federal estate tax. Also, the New York $1 million exemption amount is not portable between spouses.
Other estate planning considerations
Even if your estate will not be subject to estate taxes, you should be concerned about who inherits your assets. If you pass away without a will, this is termed intestacy. The New York State intestacy statute would be utilized to determine what family members will receive your assets if you pass away without a will. There may be some limitations about who you can leave your assets to and who you can disinherit, as New York State does not allow for the complete disinheritance of a spouse without that spouse’s permission. New York State allows a surviving spouse the right of election against an estate if that surviving spouse does not receive at least one-third of the decedent’s estate, which can be broader than just the decedent’s assets that pass through the will. The right of election statute is a common reason for ante-nuptial agreements. It is also important to draft a will to name a guardian of your minor children if both you and your spouse pass away. Additionally, if you have intended beneficiaries with special needs, estate planning documents can address their needs as well by using a trust known as a special needs trust. A will also gives you the ability to name your personal representative (executor) and also to name the trustees of any trusts created. When drafting wills and trusts, it is ideal for these documents to be useful for many years. Therefore, when determining personal representatives, such as an executor or trustee(s), it is beneficial to put primary and alternate names and consider successive generations, in order to avoid changing documents when one of your identified representatives becomes disabled or passes away. In addition to wills and any applicable trusts, estate planning documents should include the statutory New York State Durable Power of Attorney. This document will appoint an agent to act in your place if you are unable to act. This document can be a very powerful document and can often be used inappropriately, so caution is encouraged in deciding who is best suited to be your agent. Estate planning documents should also include Health Care Proxies, Living Wills and also Designation of Agent to dispose of remains. The death of a loved one is a very traumatic event, but if you can leave your affairs in order with well thought out estate documents, your family will be that much better prepared for that difficult time. Mary Anne Cody is an estate, trusts and personal planning attorney at Mackenzie Hughes LLP, a law firm in Syracuse, New York. She can be reached at 315-233-8239.
From page 11
financial services companies with similar offerings is now allowing us to create specialty companies by combining like departments and divisions across subsidiaries. In 2013, the Oneida Savings Bank Trust & Investments Department will align with our wholly owned subsidiary, Benefit Consulting Group’s (“BCG”) Wealth Management & Retirement Planning Division, to create a new division that together will oversee $700 million in assets under management. This combined force allows us move “out-sourced” services “in-house” gaining greater control and realizing cost efficiencies that will benefit our clients. More importantly, it will provide our customers the best possible resources for creating and managing wealth with access to more specialized financial professionals and financial services. Look for this new venture in 2013.
A+ in Checking
As technology redefines our lifestyles, it also influences our product offerings. Our checking account options were updated in 2013 to reflect the changing times. Oneida Savings Bank is intent on providing the best products at the best pricing, and after an exhaustive look at what the market offered
for checking accounts, we structured our line-up to be simple and easy to understand and one that followed our current customer utilization trends. This way, as we restructured fees to accommodate our new offerings, we could be assured that it would have minimal impact on our current customers, all the while keeping us competitively positioned within our markets. Our most impressive enhancement to our checking products was the implementation of mobile banking. We realize that the use of mobile devices will only increase over time, and that the 20-45 year old demographic, representing one-half of our customer base, are the largest users of mobile technologies. Our goal is to stay relevant with our growing markets, and launching mobile banking ensures this as we move forward. Oneida Savings Bank’s vision for growth has always been to manage it thoughtfully and steadily. Our carefully constructed vision for each of our companies provides growth and investment opportunities to support and enhance our existing structure, and always to provide greater value to our communities, customers, employees, and shareholders.
From page 9
bearing liabilities. Net interest income for the full year of 2012 was $14.9 million as compared to $14.3 million in the prior year with this increase driven by our growth in earning assets. Noninterest income for the fourth quarter of 2012 was $891,000 as compared to $593,000 for the comparable prior year period as net gains on sales of securities, loans, and foreclosed real estate were $236,000 more than the fourth quarter of 2011. Noninterest income for the full year of 2012 was $3.1 million as compared to $3.2 million for the full year of 2011. This year over year decrease was due to net gains on sales of securities, loans, and foreclosed real estate being $305,000 greater in 2011 as the Company restructured a portion of its investment securities portfolio during the third quarter of 2011. Partially offsetting this year over year decrease were increases in earnings on bank owned life insurance and debit card interchange fees. Noninterest expense for the fourth quarter of 2012 was $3.5 million as compared to $3.3 million in the comparable 2011 period. This increase was due, in part, to increased medical insurance costs within personnel expenses. Noninterest expense for
the full year of 2012 was $13.5 million, 2.9 percent greater than the full year of 2011. For the fourth quarter of 2012 the Company recorded $175,000 in provision for loan losses as compared to $270,000 for the fourth quarter of 2012. For the twelve month period of this year, the Company recorded $825,000 in provision for loan losses as compared to $940,000 recorded in the same prior year period. This year over year decrease is due to lower levels of net charge-offs, offset partially by the need for additional provision due to the growth in the loan portfolio. The Company views its current level of allowance for loan losses as adequate to absorb the probable and estimable losses within its loan portfolio. Balance Sheet as of Dec. 31, 2012 Total assets increased to $477.8 million at Dec. 31, 2012 as compared to $443.0 million at Dec. 31, 2011. Earning assets increased to $448.2 million at Dec. 31, 2012 as compared to $411.8 million at Dec. 31, 2011. Within earning assets, loans increased to $333.7 million at Dec. 31, 2012 from $304.8 million at year end 2011 and investment securities increased to $108.3 million at Dec. 31, 2012 from $100.4 million at year end 2011. This increase in total assets was principally funded by increases in customer and brokered deposits and short term borrowings as total liabilities increased to $437.0 million at Dec. 31, 2012 as compared to $405.1 million at year end 2011. Shareholders’ equity increased to $40.7 million at Dec. 31, 2012 as compared to $37.8 million at Dec. 31, 2011 due principally to the after tax impact of increases in unrealized gains on available for sale securities, the financial statement impact from the Company’s decision to freeze its defined benefit pension plan, and net income through the twelve month period ended Dec. 31, 2012. Asset Quality Asset quality continues to remain stable as net loan chargeoffs as a percentage of total loans for 2012 were 0.10 percent, similar to the prior quarter and significantly less than the 0.21
percent recorded in the full year of 2011. Net charge-offs for 2012 were $304,000 as compared to $608,000 in 2011 and $480,000 in 2010. Management continues to adhere to conservative underwriting policies and works closely with borrowers who have experienced difficulty in this uncertain economic climate to mitigate loss to the Bank. The allowance for loan losses to period end loans increased slightly to 1.35 percent at Dec. 31, 2012 as compared to 1.31 percent at Dec. 31, 2011 and 1.28 percent at Dec. 31, 2010. Nonperforming loans to period end loans increased to 1.66 percent at Dec. 31, 2012 from 1.55 percent at Dec. 31, 2011 but decreased significantly from 2.08 percent recorded at Dec. 31, 2010. About Pathfinder Bancorp, Inc Pathfinder Bancorp, Inc. is the mid-tier holding company of Pathfinder Bank, a New York chartered savings bank headquartered in Oswego, New York. The Bank has eight full service offices located in its market area consisting of Oswego County and northern Onondaga County. Financial highlights for Pathfinder Bancorp, Inc. are attached. Presently, the only business conducted by Pathfinder Bancorp, Inc. is the 100 percent ownership of Pathfinder Bank and Pathfinder Statutory Trust II. This release may contain certain forward-looking statements, which are based on management’s current expectations regarding economic, legislative, and regulatory issues that may impact the Company’s earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values, and competition; changes in accounting principles, policies, or guidelines; changes in legislation or regulation; and economic, competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products, and services.
Excellence 2013 Education