MESSAGE
FROM THE CEO
HAPPY NEW YEAR!
On behalf of the entire Erie FCU team, I would like to wish you and your family a very safe and happy New Year. The beginning of a new year is always exciting as we look forward to new opportunities and ways to better serve you and give back to our community. Please allow me a moment to reflect on the past year, which was significant for Erie Federal Credit Union. 2024 brought both challenges and triumphs, but through it all, we have been honored to stand by you, our loyal membership, supporting your financial goals. We upheld our financial strength while continuing to deliver exceptional value to our members. Our nearly 90-year commitment to improving the lives of members, employees and community partners remains at the forefront of everything we do.
A Brief Look Back
“You are never too old to set another goal or to dream a new dream”
~ C.S. Lewis
Last year, we were successful in completing various infrastructure upgrades and programming initiatives throughout the year bringing enhanced security, functionality, efficiency, and streamlined workflows to improve the overall member experience. In addition, you may have noticed multiple branch renovation projects being completed throughout the year to ensure our facilities remain safe, accessible, and aesthetically pleasing. Staff training initiatives continued throughout 2024 enhancing staff knowledge and understanding of current and changing trends to better assist and identify areas of opportunity for members. We are also very proud to announce our strong support of the United Way Community Schools model Lincoln Elementary School Corporate Partner Coalition, and the Erie Chamber Fly Erie Fund, which was successful in attracting Breeze Airways offering affordable nonstop service to Orlando and Tampa from Erie. We remain committed to identifying solutions to improve the overall member experience and provide support of our local community, and 2025 is setting up to be no different. We are Erie’s Choice – Erie’s Best! Erie FCU was extremely proud to have once again been voted “Erie’s Choice in Credit Unions” for the 12th consecutive year by readers of the Erie Times-News/GoErie.com.
In addition, we were voted “Erie’s Choice in Mortgage Lender”, and “Erie’s Choice in Financial Advisory” for services provided by our Erie Advisors group. We are also elated to share that Erie FCU, competing against both regional banks and other credit unions, was voted “Best Bank” for the 11th consecutive year in Erie Reader’s Best of Erie 2024! More importantly, we received positive feedback in surveys and excellent reviews from you. Please continue to let us know how we are doing!!! We are always happy to help where we can.
Team #AOK took the spirit of giving back to heart over the holidays by volunteering at numerous local nonprofits and organizations to help make their holiday season outreach a success. I am also happy to report, for the fifth consecutive year, in December, Erie FCU donated to ten local nonprofit food agencies to fight hunger through our “Give Hope – Feed the Need” campaign. Check out the photos contained within this newsletter to see some of the proud recipients!
Looking Ahead
Heading into 2025, the outlook of the U.S. economy is somewhat optimistic. Although, economic growth is projected to be slower than in previous years due in part to the lingering effects of past high rates. We hope and expect inflation to continue easing in the months ahead.
As you set your personal goals for 2025, remember that setting goals can go a long way in helping you achieve financial success. Goals such as reviewing your credit, building a habit of routine saving, and preparing your taxes. Speaking of preparing your taxes, did you know that Erie FCU is a proud supporter of the IRS’s Volunteer Income Tax Assistance (VITA) program offering free basic tax return preparation to qualified individuals? You can learn more by visiting our website. Financial literacy and wellness is a journey built on one decision at a time, and you don’t have to go it alone.
Here are some tips and thoughts about financial goals for the New Year:
No business in the world would consider going into a year – or even into a quarter – without goals. Why shouldn’t your personal finances benefit from the same type of organization? Your own financial success should be as important to YOU as the success of a company is to its owners. And, since studies have shown
(Continued
those who set specific, tangible goals are more likely to meet them than those who approach their lives with a “well, let’s see where this goes” attitude, the time and effort invested in setting a financial goal for yourself is well worth it. So where do you want to be?
• Take a quiet hour or two to write out your financial vision. Do you want to have a specific amount saved? For what purpose? Do you want to start your own business on the side? Become completely debt free? Pay off the mortgage early? Take an early retirement? Remodel your home? Build an investment portfolio? Become a major supporter of your favorite charity? Go back to school and finish that degree? Have enough money so that work becomes more of a hobby than a necessity?
• Don’t limit yourself to what you THINK you can do. Give yourself the freedom to dream and come up with your ideal financial scenario. And, here’s an important tip: Write it as if it’s already in existence.
• Then put your ideas aside for a day or two and come back with fresh eyes and see what you have written. While it may not be completely realistic, chances are, you can find one solid goal that will bring you closer to your ideal financial scenario.
• Set the goal identified in the above step as a goal for the coming year. It might be something small, such as putting 10% of your paycheck toward debt payments and another 2% toward savings. But if you stick with it, your debt will eventually be paid off and you’ll have 12% to put toward savings. A small step? Sure. But there is no telling where one small step in the right direction will take you in the next year and beyond.
Your personal finances are in your own hands. No one else can take responsibility for it. It’s a new year, the chance for a fresh start. Make it a successful one. Thank you for your continued membership and support of Erie FCU. We look forward to a prosperous and successful 2025 together!
Brian J. Waugaman, CEO
#TeamAOK
In the Community!
Erie FCU takes great pride being a part of the local community it serves. It is our hope that we can make a meaningful difference by volunteering our resources, time and talents. #TeamAOK’s outreach efforts allow us to bring awareness and support to local charities and organizations, who need it most.
Here are some of the latest shots of our team in action:
Erie Federal Credit Union Donates 20K for Food Assistance in Erie County
Our community is facing some of the highest levels of hunger in years with upwards to 30% of Erie County residents experiencing food insecurity. To combat this growing community issue and for the 5th year in a row, Erie FCU is once again offering their “Give Hope – Feed the Need” campaign in support of local hunger awareness and food assistance.
Through this initiative, $20,000 was distributed to 10 Erie area organizations:
• Meals on Wheels
• Erie Salvation Army
• Emmaus Soup Kitchen
• Community of Caring
• St. Martin Center, Inc.
• Erie Martin Luther King Center
• Home House of Erie Food Pantry
• Bethany Outreach Center
• Edinboro Food Pantry
• Second Harvest Food Bank of Northwest, PA
Each of these amazing organizations received a $2,000 check to be used for programs affiliated with supplying meals, nourishment and warm companionship to families and individuals who will be affected this winter. As a community partner, Erie FCU believes that no one should be hungry.
Debt-Free Resolution? Steps to Get Out of Debt Faster.
If you’re one of the millions of Americans who added “be debt-free” to their New Year’s resolutions, check out these simple steps to help you get out of debt as quickly as possible.
1. List your debts and interest rates. It’s time to be honest with yourself. Write down all your loan balances and their interest rates, which should be listed on each statement, in order of rate from highest to lowest.
2. Focus on the highest rate debt. The highest rate is costing you the most, so make additional payments whenever possible to pay it off quicker. Continue making minimum payments on your other loan balances to avoid additional fees and penalty rates.
3. Transfer your balances. Consider opening a lower rate credit card or personal loan from Erie FCU and using that to pay off your higher rate balances. Plus, consolidating your debt into one monthly payment will give you less stress.
4. Pay yourself first. It may seem counterintuitive to put money in savings when you’re trying to pay off debt, but having cash on hand in case of an emergency will keep you from going further into debt. Try to keep at least $1,000 in an emergency fund for unexpected expenses.
5. Spend less. Write down your budget – how much money you’re bringing in and where your money is going. Look for ways to cut down, such as eliminating cable, skipping the clothes shopping or buying generic groceries. Put some of this savings into your emergency fund.
Debt Consolidation on Your Resolution List?
There’s no time like the present. An Erie FCU personal loan can help. Use funds to pay unexpected expenses, help plan your honeymoon or trip, or whatever your needs may be. And you can feel good about getting a great rate with flexible repayment terms and same day decisioning (in most cases). Click to apply today and learn more: www.eriefcu.org/personal-loans
Home Buying Seminar
Join us for our Home Buying Seminar and get the tools, tips, and confidence you need to start your home buying journey! Whether it’s your first time or you just want fresh insights, this FREE event is perfect for you. Wednesday, March 5, 6:00 pm to 7:15 pm
• Registration starts at 5:30 PM
• Seminar will begin promptly at 6:00 PM.
Seminar location: Erie FCU Community Room B at our Glenwood Office 3503 Peach Street, Erie, PA.
For more information and to register: www.eriefcu.org/events/free-home-buying-seminar?date=March+2025
Tax Season is Here!
The Volunteer Income Tax Assistance (VITA) Program is Here to Help!
2024 Tax Filing Options - Income Based Tax Filing Assistance Available
Erie FCU is proud to once again offer the VITA program, a no-fee program that helps anyone with low to moderate income to file their Federal, State, and Local taxes for free. This free service is available to members with household incomes of $67,000 or less.
Drop-Off service will be available at the
Erie FCU
Glenwood Office 3503 Peach Street Erie, PA 16508
Here’s what you need to do:
4 Please pick up your packet at any of our branches and complete at homePackets are now available.
4 Place all tax documents in envelope with your completed paperwork. Packets must be complete prior to drop off.
4 Drop off at Glenwood Branch at the Peach Street / West Entrance only. There will be a drop off box. Location pictured above.
4 The drop off box will be available February 3, 2025.
4 Drop off hours will coincide with Branch hours –www.eriefcu.org/atms
For more information – www.eriefcu.org/taxes
We’ll Be With You Every Step of the Way.
Whether you’re saving for your children’s education, planning for your retirement or securing your family’s financial future, you can depend on Erie Advisors to help you find strategies to address your long-term financial objectives. Unlike some financial companies, our focus is on investment strategies and service. You can feel confident that you’ll receive the same level of personal service together with the knowledge you need to make sound financial decisions. Through LPL Financial, Erie Advisors offers a vast array of exceptional wealth management products and services including:
• Comprehensive financial guidance
• Retirement planning and income strategies
• 401(K) transition assistance
• Investment management
• Insurance needs analysis
To learn more, call 814-897-2500 or contact Erie Advisors online at https://www.eriefcu.org/invest/appointment-request to schedule a complimentary consultation.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Erie Federal Credit Union and Erie Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Erie Advisors, and may also be employees of Erie Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Erie Federal Credit Union or Erie Advisors. Securities and insurance offered through LPL or its affiliates are:
Not Insured by NCUA or Any Other Government Agency | Not Credit
Official Notice of Election of Directors
Three-Year Term Commencing May 12, 2025
The Erie FCU Board of Directors consists of seven 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 in the Associate Volunteer Program
Requirements to hold the Office of Director:
1. Attend a full-day orientation session and meetings scheduled by the Chairperson.
2. Attend state, national and local meetings as required.
3. Attend specialized training sessions on Asset-Liability Management, Investment Polices, and other training as required by NCUA.
4. Complete all required board training provided by the credit union. 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 10, 2025. 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.
*Erie FCU will not conduct the election by ballot and there will be
Nominated by Committee:
James Lazan & Dennis Howard
James Lazan, Board of Directors, has served the credit union for 32 years. Jim also served many years on the Supervisory Committee.
Dennis Howard, Board of Directors, has served the credit union for 9 years and previously served for 35 years on the 1st Choice Community FCU board.
Chuck Molloy LPL Financial Advisor
Dave Garres LPL Financial Advisor
Need to Free Up Your Budget in the New Year?
Our member Skip-A-Pay program* is now year-round, not just during the summer and holiday months as previously offered. If you need a little extra room in your budget in the New Year, you can now skip a payment up to two times throughout the year. Erie FCU Personal, Auto, RV, Boat, or Motorcycle loans are eligible. Forms are available at all branch locations or you can skip a payment in your online banking.
Learn more: www.eriefcu.org/special-offers/skip-a-pay
*A $30 fee applies. See credit union for eligibility requirements and complete details. Erie FCU MasterCard® , mortgage, home equity, courtesy pay, and FreshStart loans are not eligible. Certain restrictions apply.
- February 28,
Erie FCU is excited to announce the appointment of Lisa Reinhart to Director of Business Development and Services. Reinhart, who has been with the credit union since 2017, will be based at its Glenwood corporate office, where her responsibilities will include involvement in community outreach, prospecting/maintaining member partner relationships while working closely with the branches to cultivate business development opportunities for the credit union. She will also promote and support cash management products and services for existing and new small businesses within the Erie and Crawford County markets.
“We are thrilled to have Lisa join our team. She understands what it means to build and maintain relationships with both the community and local small businesses”, said Tom Brennan Erie FCU Chief Marketing Officer. “I’m excited to watch her take our business development efforts to the next level”. For more information about Erie FCU’s Business products and services, please contact 814-825-2436 or visit us online at:
www.eriefcu.org/business/business-services-center
HELOC for the New Year?
With the new year, are you thinking it’s “out with the old and in with the new” time? With a Home Equity Line of Credit, you can start planning that dream kitchen, patio or living room. Use the funds to freshen up your living space or consolidate your holiday debt, cover any unplanned expenses, plan for a wedding, a vacation or more. Visit any branch to discuss!
Apply today: www.eriefcu.org/home-equity-options
Financial Data as of December 31, 2024
78,620
3503 Peach Street • Erie, PA 16508-2741
Office Locations & Hours of Operation
Drive Thru Hours:
38th Street Office 1109 East 38th St. Erie, PA 16504
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM
Bayfront Office 1005 Greengarden Rd. Erie, PA 16501
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM
Buffalo Road Office
2436 Buffalo Rd. Erie, PA 16510
Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM
Drive Thru Hours:
Edinboro Office 101 Washington Towne Blvd. Edinboro, PA 16412
Fairview Office
7141 West Ridge Rd. Fairview, Pa 16415
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Drive Thru Hours: Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM
Drive Thru Hours:
Mon-Wed:
Important Information
Routing Number: 243380927
Website: eriefcu.org
E-mail: memberservices@eriefcu.org
E-Z Phone: 814.825.2436, Option 9
Toll Free: 800.480.0494
Lost/Stolen Debt & Credit Cards
Debit Mastercard® or ATM Card: 1.866.820.2868 (After Hours)
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM Glenwood Office 3503 Peach St. Erie, PA 16508
Erie FCU No Surcharge & No Fee ATMs
Mastercard® Credit Card: 1.866.611.4864 (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.
State Street Office 518 State St. Erie, PA 16501
Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM
Holiday Hours & Closings
President’s Day Monday, February 17, 2025 All branches will be closed
Mon-Wed: 9AM-5PM • Thur-Friday: 9AM-6PM Saturday: 9AM-1PM Drive Thru Hours:
Mon-Wed: 9AM-5PM • Thur-Friday: 9AM-6PM Saturday: 9AM-1PM Drive
As an Erie FCU member, you can make withdrawals and deposits at our ATMs or Fast Branch/ATMs using your Erie FCU Debit Mastercard ® and you will not be charged a surcharge or Out-of-Network Fee. For a current listing of all ERIE FCU ATMs, visit www.eriefcu.org/atms
Lobby Hours
Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Peach Street Office (Walmart Supercenter Peach & I-90 ) 1825 Downs Drive Erie, PA 16509
Mon-Tue: 9AM-5PM Wed-Thur: 9AM-6PM Friday: 9AM-7PM Saturday: 9AM-3PM
Zuck Road Office 5500 Zuck Rd. Erie, PA 16506