Erie Federal Credit Union
F nanc al Solut ons Fall Newsletter 2021 www.eriefcu.org
5 Smart Money Moves This Fall Check Out Our New BUSINESS CHECKING Erie Times FCU Merger
Insured by NCUA
FROM THE CEO MESSAGE
Stronger Together!
Welcome to Fall, everyone! We hope this message finds you well and looking forward to a warm and inviting holiday season. Though the pandemic continues to weigh upon us all, we are happy to report that your credit union remains financially sound and well-positioned for continued growth and expansion in the future. As a matter of fact, we are thrilled to share some additional positive news! After a successful member vote on Wednesday, September 15, 2021, the members of Erie Times Federal Credit Union approved a proposed merger with Erie Federal Credit Union effective January 1, 2022. The merger between Erie Federal Credit Union and Erie Times Federal Credit Union was officially approved by the National Credit Union Administration (NCUA) on June 17th, 2021.
In pursuit of our organizations shared purpose in providing financial services for the benefit of our members and community, our two credit unions will merge serving a total of 69,000 members with greater than $700 million in assets across nine convenient branch service locations. Erie Federal Credit Union will remain the surviving credit union. Erie Times FCU was organized in 1935, and is the oldest federal credit union in the area. Alice Pierbaum, who worked at the Erie Times-News, was instrumental in organizing the credit union for the benefit of her peers. She ran the operations out of her office for several years. At that time, the only services offered to members were savings accounts, payroll deductions and personal loans. From these humble beginnings and with the dedication of a few forward-thinking leaders, the credit union continued to be successful for 86 years.
“Life starts all over again when it gets crisp in the Fall.”
We commend the Board and management for your leadership and dedication to the credit union movement, the members of Erie Times FCU and the local community. The alignment of our two organizations will allow further service expansion while providing positive impact to our members and the communities we serve. While we were confident that members would see the alignment in organizational values and the benefits of a merger for employees, members, and communities, this positive vote and the democratic process by which it was obtained confirm that members recognize the importance of this merger to our collective future. There will be no layoffs as a result of this unification.
– F. Scott Fitzgerald
While we do not have answers to all logistical questions today, we can assure you that our primary goal when integrating our credit unions is to minimize any impact on all members. Staff from both credit unions are working diligently together each day on the planning and implementation process to achieve a smooth and uneventful conversion. We are undertaking this work with the best interests of our members, employees and communities as our focus. Our shared values This merger is based on our mutual evaluation and shared understanding that a combined credit union is better for everyone’s future – members, employees, and the communities we serve. Good for our future Our individual credit unions are already successful and will be even stronger together. We operate in an industry that is rapidly evolving with more demands every day from members who have come to expect personalized service and seamless 24-7 banking access from wherever they happen to be on the globe. We know that by bringing our teams and resources together we will be able to meet changing member needs better and faster, now and into the future. Good for our members A stronger credit union enables us to introduce innovative products and services more efficiently. Members will continue to enjoy our extensive branch network, the expertise and knowledge of dedicated and helpful staff, and enhanced technological solutions. Good for our community Both credit unions are ethical organizations with similar cultures committed to serving our members and improving the quality of life in the communities we serve. This is a solid foundation on which to build a stronger, brighter and more sustainable future. Our combined credit union will continue the community work we are each known for together as part of the credit union movement.
Thank you for your continued loyalty, engagement and support, and for the trust and confidence you continue to place in Erie Federal Credit Union. We look forward to continuing to provide you with products, services, and knowledgeable support to reach your financial goals.
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Stronger Together,
Brian J. Waugaman, CEO
eriefcu.org
#Team AOK Takes Action!
Fall in Love With This Offer! Shopping. It’s what we do.
Whether you’re an online warrior or in-store only type of shopper, at Erie FCU, we’ve got your savings covered! Now through December 31st, 2021, new and current card holders can take advantage of our Platinum Mastercard® special offera 1.99% promotional APR on all purchases. Yup. Purchases online, in-store, wherever -all at a 1.99% APR. Oh, and our card has no annual or balance transfer fees with Apple and Samsung pay available. Don’t have our card? Apply today at www.eriefcu.org/199-mastercard-offer.
Erie FCU takes great pride in 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.
#Team AOK’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 photos from those activities:
*On April 1, 2022 remaining balances will accrue interest at the regular purchase annual percentage rate applicable to your account, which can range from 8.90% to 17.90% APR based on your credit worthiness. Cash advances, balance transfers, existing balances, and business Mastercard® transactions are excluded from this promotion. Loans subject to credit approval. Membership eligibility required.
5 Smart Money Moves to Make This Fall
As the leaves begin to change color, it’s time to start thinking about your year-end money strategy. The fall and winter holidays are closer than you think. Use the following strategies to make the rest of the year count. 1. Clean out your closet. You looked into your closet and decided you have nothing to wear. Before you start buying new clothes, pull out your cold weather clothes and give them a good look. Try them on to make sure everything still fits and donate what you no longer wish to keep. 2. Add holidays into your budget. This year, the year-end holiday celebrations will likely be virtual rather than in-person, so you’re less likely to have travel expenses, but there’s still a chance you may overspend on gifts and decorations. If you haven’t already made a spending plan for them, do so now. Figure out how much you can afford to spend and stick to that amount. 3. Up your 401(k). If your budget can handle it, why not increase your retirement deductions by 1%? The more you save now, the more tax benefits you’ll get, AND the less you have to worry about the future. 4. Spend your Flexible Spending Account (FSA) dollars. Use it or lose it. You’ve already saved this money, so don’t leave it on the table. Check your FSA documentation to see what health-related expenses you can use this account for and use those dollars. 5. Plan to use your vacation days. Using your vacation days is key to living a successful, balanced life. Even if you have a staycation, it’s critical to use your well-deserved days off. If you plan now, you can even save for a weekend get away before the end of the year. Life is all about balance.
#Team AOK walks for a cause at the American Heart Association’s annual Heart Walk. The Heart Walk is a great way to impact our #community and save lives!
As the weather turns colder, it’s a great time to reflect on the money progress you’ve made throughout the past year and start focusing on small wins to finish the year right. eriefcu.org
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Reset Your Rate on Your Mortgage Loan & Save!
Help Our Neighbors In Need Keep Warm This Winter
For the month of October, Erie FCU is reaching out to the community asking for donations of new, warm and practical, adult sized socks which will be donated to local homeless shelters. Along with collecting warm, winter, adult size socks to give to those in need, this year, we are asking members to kindly donate winter hats, scarves & mittens. (Men’s and women’s).
Already own a home but looking to save some money? Maybe you should “Reset your Rate” on your mortgage loan? Refinancing to a lower rate or a shorter term will save you money short term or in the long run. And with rates still at historic lows and now is the time. Don’t miss out. Contact us to see if a mortgage refi is right for you and ask about our Mortgage Lender Credits1 offer! If you qualify, you could save up to $750.00 in closing costs!
We will be collecting these items at any one of our 8 branch locations (during business hours) beginning Friday, October 1st and running through Sunday, October 31st. Due to the Pandemic and social distancing, shelters are limited in the number of beds available. Coupled with the winter weather, the concern is an increase in the homeless population and the need for access to warm clothing and shelter!
Refinancing Can Help You:
3 Consolidate debt o 3 SAVE MONEY o
3 Lower monthly payments o 3 Pay off your loan sooner o 3 Cash out options by accessing equity o
Halloween Spook-tacular Savings!
Get Started Today! You can apply online from the comfort of your home at www.eriefcu.org/mortgage-center. But hurry! Offer ends November 30, 2021 1
Ready for some fall fun? Enjoy a tractor drawn Spooky Hayride through the deep dark woods of the Sparrow Pond Family Campground located at 11103 Route 19 North, Waterford, PA! Our members can take advantage of our 20% discount on tickets. Event runs every Friday & Saturday through October 30, 2021.
Members who apply for mortgage refinance between September 1 and November 30, 2021, will receive Lender Credits for up to $450.00 towards Appraisal Fee and up to $300.00 towards Application Fee. All other standard mortgage refinance fees will apply. Offer may end at any time. Loans subject to credit approval. Membership eligibility required. Erie Federal Credit Union NMLS#-414454.
Erie Otters Hockey Erie FCU “Member Only” BOGO nights are back!
More info: www.eriefcu.org/hauntedhayride
Every Friday and Sunday home game, our members can buy 1 ticket for an Erie Otters game and get the 2nd ticket free! Membership has its advantages! Learn more: www.eriefcu.org/BOGOnights
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MORTGAGE • BUSINESS • AUTO • PERSONAL
eriefcu.org
Apply Today... We make it EASY! Apply for a loan in a way that works best for you. Apply online in minutes
www.eriefcu.org/1160
Apply in person at any branch
Schedule a Loan Appointment
www.eriefcu.org/appt
Call us at (814) 825-2436
eriefcu.org Annual Percentage Rate = APR. Loans subject to credit approval. Rates, terms, and conditions vary based on credit worthiness, qualifications and collateral conditions and are subject to change. 1% auto loan rate reduction is applied to qualifying interest rate and interest will accrue on the loan during the first 60 days. Lowest rate available after rate reduction is 1.99% APR. 1% cash back amount is based on amount refinanced and cannot exceed $500. 1% cash back amount will be paid one year after loan closing date and will be forfeited if loan is closed before one year term. Existing Erie FCU auto loans are excluded. Membership eligibility required. Insured by NCUA *1.99% APR includes a .25% discount. To qualify for the .25% discount, member must have an Erie FCU checking account with direct deposit and enroll in auto pay/payroll deduction. Promotion ends 11/30/21.
eriefcu.org
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Concerned about your financial plans? Need a second opinion? Whether you’re just starting, building your financial assets, or a long-time investor, Erie Advisors, located at Erie Federal Credit Union, will listen to your goals, offer objective advice, establish a plan for you and closely monitor your investments. To learn more, call or contact Erie Advisors online at www.eriefcu.org to schedule a complimentary consultation.
Chuck Molloy
Financial Advisor
Dave Garres
Financial Advisor
(814) 897-2500 • 3503 Peach Street, Erie, PA 16508 *Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/ SIPC, a registered broker/ dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/ FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CBSI is a registered broker/dealer in all fifty states of the United States of America. The representative may also be a financial institution employee that accepts deposits on behalf of the financial institution.
Click the link or details: www.eriefcu.org/tracfone
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MORTGAGE • BUSINESS • AUTO • PERSONAL
eriefcu.org
Giving Back is What We Do! Be a St. Martin Center Shining Star
Visit any Erie FCU branch in mid-November and choose a star with a child’s name, age, and gift ideas.
Attention Business Owners
We Have Three NEW Business Checking Account Options Designed to Better Fit YOU!
Most businesses need a checking account, but not every business needs the same type of account. As a local, not-for-profit financial cooperative, we go the extra mile to ensure our businesses members are given the tools for success.
NEW BUSINESS CHECKING OPTIONS:
• For small businesses without a lot of monthly transactions, we offer our basic Business Checking*. This simple, non-dividend-paying checking solution allows you to utilize e-Statements and online access, and gives business members the option to add the additional convenience services. • Perhaps your business is bigger, or growing, and needs more flexibility. Our Business Plus Checking* account rewards businesses with a very competitive dividend on the balance kept in the account, a full suite of solutions and other great perks. • Our Community Checking* option is a dividend-paying account that meets basic checking account needs for non-profit organizations that includes great technology, lower fees and easy account access.
Purchase gifts for your child and return them in a gift bag to any Erie FCU* branch by December 3rd. No time to shop? Donate at any office and we’ll do the shopping for you. * Gifts cannot be dropped off at the Walmart Office.
Greater Erie 2022 SaveAround Coupon Book Just $25 and available at all offices while supplies last.
*All new business checking accounts include a free Business Mastercard® debit card.
Visit our Business Services Center to get started today at www.eriefcu.org/business, or visit any branch office or call us 814-825-2436. Insured by NCUA. Business Membership eligibility required.
“Need” Some Extra Dough for the Holiday? How about a Ho-Ho-Holiday Loan? Just in time for holiday shopping or a family trip. Take advantage of our new low interest rates and affordable monthly payments with a Holiday Loan. Apply online or at any office location today.
Financial Statistics Financial Data as of August 31, 2021 Assets......................$716,715,214 Deposits..................$646,714,433 Loans...................$370,509,739 Members...........67,676
*Loans subject to credit approval. Membership eligibility required.
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3503 Peach Street • Erie, PA 16508-2741
Office Locations & Hours of Operation
Routing Number: 243380927
38th Street Office
State Street Office
1109 East 38th St. Erie, PA 16504
Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM
518 State St. Erie, PA 16501
Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM
Walmart Office
(Walmart Supercenter)
1825 Downs Drive Erie, PA 16509
Bayfront Office
Lobby Hours Monday-Tuesday: 9AM-5PM Wednesday-Thursday: 9AM-6PM Friday: 9AM-7PM Saturday: 9AM-3PM
1005 Greengarden Rd. Erie, PA 16501 Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM
32nd Street Office
Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM
1220 West 32nd Street Erie, PA 16508 Lobby Hours Fastbranch ATM access only
Buffalo Road Office 2436 Buffalo Rd. Erie, PA 16510
Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM
5500 Zuck Rd. Erie, PA 16506
Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM
Edinboro Office
Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM
Zuck Road Office
Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM
E-mail: memberservices@eriefcu.org 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.
Holiday Hours & Closings Columbus Day Monday, October 11th All offices will be closed
Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM
All offices will be closed
Veterans Day Thursday, November 11th Thanksgiving Day Thursday, November 25th All offices will be closed
3503 Peach St. Erie, PA 16508
Drive Thru Hours: Monday-Wednesday: 9AM-5PM Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM
Website: eriefcu.org
101 Washington Towne Blvd. Edinboro, PA 16412
Glenwood Office
Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Erie FCU No Surcharge & No Fee ATMs
Important Information
Lobby Hours Monday-Thursday: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
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 www.eriefcu.org/atms
Christmas Eve Friday, December 24th
Branch lobbies, branch drive thrus, and Corporate are closing at 1PM
Christmas Day Saturday, December 25th All offices will be closed
New Years Eve Friday, December 31st
Branch lobbies, branch drive thrus, and Corporate are closing at 1PM
New Years Day Saturday, January 1st
All offices will be closed