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Erie Federal Credit Union

F nanc al Solut ons www.eriefcu.org

Winter 2018

Team AOK House that Wisdom Built Greater Erie Area Habitat for Humanity

Federally insured by NCUA


MESSAGE FROM THE CEO Making an Impact We will soon find ourselves immersed in yet another new year. Often we forget to reflect on the successes of the previous year. By far, the opening of our new Glenwood facility provided us all with a great sense of accomplishment. Not only were we successful in maintaining much of the existing structure of the former Glenwood Elementary School, but also in hiring additional employees from within our community and placing the property back on the Erie tax roll. Our impact within the community was further extended with the introduction of #TeamAOK (Acts of Kindness). #TeamAOK worked to raise awareness through outreach and volunteering within our community. #TeamAOK hit the streets with one mission in mind; to spread goodwill throughout the region with simple random acts of kindness. Staff volunteers visited various businesses throughout the year and provided support to many local non-profit organizations. Our team worked with ServErie to prepare the new Erie High School for students, and logged over 170 hours on the Greater Erie Area Habitat for Humanity House that Wisdom Built, which provided a local family the opportunity to own their first home.

“ Remember there is no such thing as a small act of

Since 1936, we have honored our mission to responsibly deliver financial solutions that meet the needs of our community with spirit, compassion and heart. As a not-for-profit member-owned financial institution, our members are an important part of our success and as a way to thank you, we have developed the Patronage Bonus Program. The program is designed to distribute an equitable bonus back to our members based on the individual account relationship and usage of Erie Federal Credit Union products and services over the past calendar year. More details on this program and eligibility requirements will be provided with your year-end member account statement.

kindness. Every act creates a ripple with no logical end. ”

Our hope is that the many impacts we make in 2018 will continue to move our community and organization forward in a positive direction, and Erie Federal Credit Union remains dedicated to doing our part.

~Scott Raymond Ada

~Best Wishes for the New Year!

Brian J. Waugaman

MORTGAGE • BUSINESS • AUTO • PERSONAL Page 2

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Buffalo Road Branch Remodel Over the past year, members visiting our Buffalo Road Office may have noticed a number of interior renovations and other improvements. We are pleased to announce that the final phase of the project was completed in December. Along with enhanced cosmetic improvements, upgrades include: • State of the art Remote Teller Units which provide a convenient service platform, an immediate availability of interactive tellers, and an increase in security. • A waiting area which allows members a private place to prepare for a meeting with a specialized member service employee.

ERIE FEDERAL CREDIT UNION

Unveils Its Artistic Side

Seven months of work culminated on October 31, 2017 with the unveiling of a commemorative sculpture at Erie FCU’s corporate headquarters and branch at 3503 Peach Street. Renowned local artists, Tom Thomas Ferraro and Edward DeFrece Grout of the Looking Glass Art Project, developed the work of art to honor the former Glenwood Elementary School, as well as serve as a centerpiece of the facility’s main entranceway. The skeleton of the beautifully structured 8 ft. high, 9 ft. wide sculpture is made from one of the school’s original brass folding security gates. Erie FCU CEO Brian Waugaman explained, “It was very important to our team that this abstract work pays tribute to the history shared by the school, our local community, and our credit union. We could not have been more satisfied with the results. The ultimate vision was to be able to come up beside someone when the work was completed and say, oh…and by the way…that’s an old gate!” The gate contains fused glass created by Ferraro and Grout in their studio, various metals, and bronze casting remnants.

Village West ATM Now Open The wait is over! We are pleased that our ATM located at 3330 West 26th Street in Village West in now in service again! The site had been without an ATM all summer.

• An additional Member Service office The addition of a third member service office will assist in meeting the memberships’ needs in a timely manner. As you’d expect from your community credit union, we’ve teamed up with local companies to get the work done. Those include Perry Construction, Rabe Environmental Systems Inc, EMSI, Wm T. Spaeder Co. Inc, and Bostwick Design Partnership along with a handful of other local sub-contractors. “Our goal with the Buffalo Road branch remodel was to provide more options and create a better overall experience for all our members,” said Tiffany Layden, Vice President of Branch Operations. “We think the new design will give the branch an Tiffany Layden VP of Branch Operations updated feel, plus add more convenience and time saving features that members want and need. We were also happy that the remodeling work was done in a way that did not involve closing the branch.” Be sure to stop by and see the transformation for yourself. The staff is very excited about the update and looks forward to serving you from the newly remodeled branch for years to come.

The brand new freestanding drive-up ATM re-opened in November adding even more access and convenience for our members in the West Erie County area. The ATM is open 24 hours and located in a safe, well-lit and easily accessible area. As always, we will strive to make your ATM experience faster, easier and more convenient. Find an ATM near you: https://www.eriefcu.org/bank/banking-services/atm-branch-locations

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Awards & Recognition We love giving back to our Erie and Crawford County communities. And we certainly appreciate when our efforts are recognized and rewarded by others. Here are some of our recent awards, accolades and public recognitions: • 2017 Erie FCU voted Erie Times News “Erie’s Choice in Credit Unions” 5th year in a row. • 2017 Recognized by Junior Achievement of Western PA “Education Leadership Company” Award. • 2017 PCUA - “M.I.C. Award” - 1st place “Best Annual Report” (CUs over $200M in assets). • 2017 - Erie FCU was ranked again by Advisory HQ, an independent online news source that provides extensive research, independent reviews, and top rankings of financial institutions across the U.S., U.K., and Canada, as one of the Top 15 Credit Unions in Pennsylvania. • 2017 CSCU “EMI Marketing Award” - Community Outreach Campaign Tree Planting School “Go Green” Initiative. • 2017 CUNA “Diamond Award” winner: Ongoing Event for 80th Anniversary • PRSA (Public Relations Society of America) Northwestern PA Chapter “Niagara Awards - Erie FCU won an Integrated Communications Niagara Award (Glenwood Grand Opening campaign).

Youth Ambassador Named At the Erie Chapter of Credit Unions Annual Youth Ambassador contest held in October 2017, Erie FCU’s very own Kristine Yori, was selected as the 2017 Erie Chapter of Credit Unions Youth Ambassador representative! Kristine, a Member Service Officer, will now advance to the state Pennsylvania Youth Ambassador competition where she will represent the Erie and Crawford County credit unions at the Pennsylvania Credit Union Association’s annual meeting in May 2018. Congratulations Kristi! We are very proud of you. Best of luck.

The Erie FCU Platinum MasterCard®- Send Holiday Debt Packing Is your holiday debt overstaying its welcome? Beginning January 1, 2018 show that pesky debt the door! Simply transfer your high interest credit card balances to an Erie FCU Platinum MasterCard and save! Get a 2.99% balance transfer promotional annual percentage rate through December 31, 2018 on balances transferred January 1, 2018 March 31, 2018. Plus, enjoy no annual fee and no balance transfer fees. Paying less interest and fewer fees is a smart way to send debt packing! Now with Apple and Samsung Pay! Don’t have a card? Apply today: ErieFCU.org After December 31, 2018, remaining balances will accrue interest at the regular APR applicable to your account, which

can range from 8.90% to 17.90% APR, based on your creditworthiness. Existing Erie FCU loans or credit card balances, purchases, cash advances, and Business MasterCard® accounts are not eligible for this offer. Loans subject to credit approval. Membership eligibility required.

Balance Financial Fitness Money management can sometimes seem overwhelming, which is why Erie FCU has partnered with Balance Financial Fitness Program. Through this partnership, you have access to FREE, confidential financial counseling and education, including: • Money management counseling • Credit report review • Housing Counseling • Debt management counseling • Dozens of educational articles and videos If you would like to develop a dependable savings plan, get out of debt, improve your credit or avoid bankruptcy, a counselor is waiting to help you. For more information, go to: https://eriefcu.balancepro.org/ or call: 888-456-2227.

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2017 Tax Filing Options

Tax Strategies*

The Erie FCU is proud to once again support Erie FREE Taxes, a no-fee program that helps anyone with low to moderate income file their Federal, State, and Local taxes for free. This free service is available to members with household incomes of $54,000 or less.

Tax Strategies

Have your Federal, State, and Local taxes prepared for one low price. Call Tax Strategies to schedule your appointment.

Income Based Tax Filing Assistance Available

Erie FCU Drop-Off Service

4420 Peach Street 814-866-5494

Glenwood Office Community Room 3503 Peach Street February 6-April 3, 2018. Tuesdays only: 9-4:30

*Tax Strategies cannot prepare or file your tax returns without copies of your W-2 form(s).

www.eriefcu.org/taxes

Direct Deposit

You must bring all your tax information,valid state ID, and social security cards for everyone, including children you will be claiming on your return.

To prevent delays or the return of your refund, you must use your 13 digit MICR# and the Erie FCU routing number 243380927. Please contact the credit union to verify you are using the correct information.

Online FilingLog onto www.unitedwayerie.org/ eriefreetaxes/i-can to file your taxes.

Tax Refund Checks with Multiple Payees:

For appointment information at other tax sites call 1-888-829-5680.

All payees must endorse the check.

IRA Beneficiary Designations

To cash – all payees must be present with Valid ID

With the start of 2018, it is important to review the beneficiary designations for your IRA Accounts. Although you may have originally designated a beneficiary, a life event such as marriage, divorce, the birth of a child, or a change of address may require an update. A claim will not be paid if the beneficiary cannot be found.

To deposit – may be deposited to an account with all payees listed whether or not payees are present.

It is also wise to have multiple beneficiaries, this way a secondary or contingent beneficiary can receive the benefits and the benefits can transfer as you intended them to without going through the probate court. Assets from IRA accounts generally pass to your beneficiaries without tax ramifications until they take a distribution from the accounts. However, if you have named your Estate as the beneficiary, these funds then become part of the probate process and are often subject to inheritance tax. Please contact Member Support at 814-825-2436 or visit any of our branches for assistance. If you have questions specific to your financial situation, please contact your financial or tax advisor.

Financial Statistics Financial Data as of November 30, 2017 Assets..................................$466,436,691 Deposits..............................$407,096,675 Loans...................................$251,716,644 Members.............................56,664

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Diversification, Patience and Consistency Three important factors when it comes to your financial life

Regardless of how the markets may perform, consider making the following part of your investment philosophy:

Your Financial Team Brandon Armella Stacey Iadeluca Larry Amenta Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free 800-369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information should not be construed as investment, tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

Diversification. The saying “don’t put all your eggs in one basket” has real value when it comes to investing. In a bear OR bull market, certain asset classes may perform better than others. If your assets are mostly held in one kind of investment (say, mostly in mutual funds, or mostly in CDs or money market accounts), you could be hit hard by stock market losses, or alternately lose out on potential gains that other kinds of investments may be experiencing. So there is an opportunity cost as well as risk. This is why asset allocation strategies are used in portfolio management. A financial professional can ask you about your goals, tolerance for risk, and assign percentages of your assets to different classes of investments. This diversification is designed to suit your preferred investment style and your objectives. Patience. Impatient investors obsess on the day-to-day doings of the stock market. Have you ever heard of “stock picking” or “market timing”? How about “day trading”? These are all attempts to exploit short-term fluctuations in value. These investing methods might seem fun and exciting if you like to micromanage, but they could add stress and anxiety to your life, and they may be a poor alternative to a long-range investment strategy built around your life goals. Consistency. Most people invest a little at a time, within their budget, and with regularity. They invest $50 or $100 or more per month in their 401(k) and similar investments through payroll deduction or automatic withdrawal. In essence, they are investing on “autopilot” to help themselves build wealth for retirement and for longrange goals. Investing regularly (and earlier in life) helps you to take advantage of the power of compounding as well. If you don’t have a long-range investment strategy, talk to a qualified financial advisor today. Call 814-897-2500. As a member of Erie Federal Credit Union, you can save up to $15 on TurboTax® – the #1 best-selling tax software. With TurboTax, you’ll get your taxes done right and your biggest possible refund, guaranteed. And with NEW TurboTax Live, you can have a live CPA or EA by your side to answer questions and review your tax return. Start TurboTax today and save!

Everyone loves to save, especially on products and services you use every day. That’s what Love My Credit Union Rewards is all about. Members have saved nearly $2 billion in discounts from valued partners through Love My Credit Union Rewards. You can also save with the Sprint Credit Union Cash Reward program:

$100 cash reward with every new line activated with Sprint! Current customers will receive a $50 cash reward for every line transferred into Sprint Credit Union Member Cash Rewards. Plus, get a $50 loyalty cash reward every year for every line.*

To find out more and learn about other valuable discounts, visit

www.eriefcu.org or LoveMyCreditUnion.org. You get all these offers and discounts just for being a member of Erie FCU.

#1 Best-Selling brand of tax software based on aggregated sales data for all tax year 2016 TurboTax products. Visit http://turbotax.intuit.com/lp/yoy/guarantees.jsp for TurboTax product guarantees and other important information. Limited time offer for TurboTax 2017. Terms, conditions, features, availability, pricing, fees, service and support options subject to change without notice. Intuit, TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. *Activ. Fee: Up to $30/line. Credit approval req. Sprint Credit Union Member Cash Rewards Offer: Offer Ends 12/31/2018. Avail. for eligible credit union members and member employees (ongoing verification). Tax ID req. to establish business acct. Switch to Sprint and receive a $100 cash reward for each new smartphone line activation. Reqs. port-in from an active number (wireless or landline). Existing customers receive a $100 cash reward for each new smartphone line activation and/or a $50 cash reward for each smartphone line transferred to program. New lines req. activation at point of sale. Max 15 lines. Sprint acct must remain active and in good standing for 31 days to receive Cash Reward. Excludes MBB devices, tablets and Sprint Phone Connect, upgrades, replacements and ports made between Sprint entities or providers associated with Sprint (i.e. Virgin Mobile USA, Boost Mobile, Common Cents Mobile and Assurance.) May not be combinable with other offers. $50 Loyalty Cash Reward: Members can earn one $50 cash reward annually when Sprint acct remains active and in good standing for 1 year. Max 15 lines. Cash Reward: Cash Reward issued by CU Solutions Group. Allow 6-8 wks for Cash Reward to be deposited to your Credit Union acct. If the Cash Reward does not appear after 8 wks, visit lovemycreditunion.org/ sprintrewards. Other Terms: Offers/coverage not avail. everywhere or for all phones/networks. May not be combinable with other offers. Offer, terms, restrictions, and options subject to change and may be modified, discontinued, or terminated at any time without notice. Restrictions apply. © 2016 Sprint. All rights reserved. Sprint and the logo are trademarks of Sprint. Other marks are the property of their respective owners.

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OFFICIAL NOTICE OF ELECTION OF OFFICER Three-Year Term Commencing May 14, 2018

Holiday Hours & Closings

The Erie FCU Board of Directors consists of five directors who each serve a three-year term. The duties of a Director include: setting operational policies for personnel; reviewing investments; and ensuring guidelines for asset–liability management and federal regulatory compliance. A director must also be committed to the Credit Union Philosophy, understand Federal NCUA Regulations, and make competent policy decisions. Members in good standing who are interested in learning more about how the credit union operates may request to serve as a volunteer on the Supervisory Committee.

New Year’s Eve Sunday, December 31st Walmart Office Hours: 11AM-3PM All other offices will be closed

Requirements to hold the Office of Director: 1. Attend a full-day orientation session, all meetings scheduled by the Chairperson, along with state, national and local meetings as required. 2. Attend specialized training sessions on Asset-Liability Management, Investment Policies, and other training as required by NCUA. 3. Successfully completing the CUNA Volunteer Achievement Program administered by the Pennsylvania Credit Union Association.

Martin Luther King, Jr. Day Monday, January 15th Walmart Office Hours: 10AM-3PM All other offices will be closed

New Year’s Day Monday, January 1, 2018 All offices will be closed

Presidents’ Day Monday, February 19th Walmart Office Hours: 10AM-3PM All other offices will be closed

Nominated by Committee: Daniel Nawrocki and Laurie Becker

Daniel Nawrocki has served the credit union for 47 years. He has served as Chairman of the Supervisory Committee and as Secretary, Treasurer and President of the Board of Directors.

Laurie Becker has served the credit union for 24 years. She has served on the Supervisory Committee as well as Secretary and Treasurer of the Board of Directors.

Members interested in becoming a candidate for the Office of Director must be at least 18 years of age and a member in good standing. The petition process requires a candidate to obtain signatures from 1% of the primary Erie FCU membership and submit them by March 9, 2018. If there are nominations by petition, an election will be held by email or paper ballot. Petition and additional information can be obtained by contacting Susan King at 814-825-2436, opt.1, Ext 1037.

James J. DeDad Scholarship Applications will be available on April 2, 2018

Tax Forms All tax forms we are required to provide will be processed and postmarked by January 31, 2018

Important Information Routing Number: 243380927 Website: eriefcu.org E-mail: memberservices@eriefcu.org

Associate Board Member Program

The Associate Board Member Program allows interested Erie FCU members to gain the necessary skill and knowledge needed to be eligible for potential openings on the Erie FCU Board of Directors. The Board of Directors, Supervisory Committee, and Associate Board Members serve as volunteers and are not compensated by the Erie FCU. A limited number of positions are available in the Associate Board Member Program. Interested applicants must be a member in good standing, at least 18 years of age, and cannot be an immediate relative of any Erie FCU employee, Board or Supervisory Committee member as stated in the Erie FCU by-laws. Submission of an application does not guarantee acceptance into the program. Applications are available online at www.eriefcu.org/associateboard. Please contact Susan King at 814-825-2436, opt 1, ext. 1037 with any questions regarding the program.

E-Z Phone: 814.825.2436, Option 9 Toll Free: 800.480.0494 Debit MasterCard® or STAR Card®:

800.523.4175 (After Hours) MasterCard® Credit Card Lost/Stolen:

866.604.0381 (After Hours) Erie FCU NMLS #414454 Privacy Policy Notice - The Erie FCU privacy policy has not changed. You may obtain a copy at www.eriefcu.org/pp or contact us at (814)-825-2436 or (800)-480-0494.

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3503 Peach Street • Erie, PA 16508-2741

Office Locations & Hours of Operation

814.825.2436 • 800.480.0490 • eriefcu.org

38th Street Office 1109 East 38th Street Erie, PA 16504

State Street Office 518 State Street Erie, PA 16501

Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM

Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM

Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM

Walmart Office 1825 Downs Drive (Walmart Supercenter) Erie, PA 16509 Lobby Hours Monday-Friday: 10AM-7PM Saturday: 10AM-3PM Sunday: 11AM-3PM

Bayfront Office 1005 Greengarden Road Erie, PA 16501 Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM

32nd Street Office 1220 West 32nd Street Erie, PA 16508

Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM

Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM

Buffalo Road Office 2436 Buffalo Road Erie, PA 16510

Edinboro Office 101 Washington Towne Blvd. Edinboro, PA 16412

Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM

Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM

Zuck Road Office 5500 Zuck Road Erie, PA 16506

Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM

Glenwood Office 3503 Peach Street Erie, PA 16508

Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM

Erie FCU No Surcharge & No Fee ATMs

Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM

As an Erie FCU member, you can make withdrawals and deposits at our ATMs or Fast Branch/ATMs using your Erie FCU Debit MasterCard® or STAR® Card and you will not be charged a surcharge or Out-of-Network Fee. For a current listing of all ERIE FCU ATMs, visit eriefcu.org/atms

Erie FCU - 2018 Winter Newsletter  
Erie FCU - 2018 Winter Newsletter  

Erie FCU - 2018 Winter Newsletter