Erie FCU - 2022 Fall Newsletter

FROM THE CEOMESSAGE

Happy Fall & Thank You!

Dear Members & Friends, After a beautiful summer, Fall has arrived (already!!!). What an amazing time of year it is in Northwest PA with autumn colors in bloom, students back at school and fall sporting events in full swing!

And speaking of October, credit unions worldwide will celebrate International Credit Union Day on October 20 to honor both its members and the credit union difference. Unlike banks, credit unions are not for profit institutions owned by its members. We always put people before profits. You can read more about International Credit Union day later in the newsletter. And if that was not enough to celebrate - The votes have been counted! Erie FCU was a triple winner in the 2022 Erie’s Choice awards as voted by the readers of the Erie Times News and GOERIE.com. Thanks to all who voted and a special thanks to all our employees who work hard each day. It is because of you that we can accept this honor!

We’re grateful to be celebrating wins in these three categories:

• Erie Choice in Credit Unions

• Erie’s Choice in Mortgage Lender

• Erie’s Choice in Financial Advisory Group – Erie Advisors

As we watch the seasons change, we’ll also get to see a few new changes for our credit union! Recently the Board of Directors officially voted to place Bill Dietz on the board. Bill will replace long time board member, Dan Nawrocki, who resigned earlier this year. I would like to again thank Dan for his many years of dedication to our credit union and am certain he will continue to be an advocate for our members and communities as Director Emeritus. Additionally, the Board voted to place Bob Langley to the Supervisory Committee. Bob spent many years as an employee of PSECU and brings extensive financial, and operational expertise to Erie FCU. Bill and Bob were active participants in our Associate Volunteer Program prior to their new appointments. I am eager to work with both Bill and Bob as we strive to be the #1 most trusted financial resource in the region!

While there is plenty to be happy about, like most businesses, this year has challenged us and our membership. Dealing with inflation, Federal Reserve rate hikes, stock market volatility, and unfortunately COVID, we have had to pivot and account for these disruptions as I’m sure you have had too as well.

We’re adapting and introducing new opportunities to best position you for the rising rate environment, while providing options to safely maximize your earning potential. I am proud of how we have responded to the ever-evolving needs of our members and the community… We’ll continue to work hard to earn that trust and support!

As part of our promise to provide quality financial solutions to you, we’ve got a number of exciting offers to help you get through the end of the year and the holidays. For instance, our Holiday Helper Loan is back by popular demand! If you need a little extra cash, this might be an option for you. It’s budget friendly...Santa approved! You can read more about the Holiday loan special and other offers throughout this newsletter.

In addition to all the fun Fall activities our area provides, it is important to note that October is also Cybersecurity Awareness Month. Scammers will often ramp-up their attacks during the holiday season to try to take advantage of shoppers. National CyberSecurity Awareness Month was first observed in 2003 and its goal is to encourage people to take the necessary steps to keep their online lives safe and secure. At Erie FCU, we promote tough security measures for all our staff and members to ensure member data is safe and secure. Although we keep your security top of mind, it is even more critical to take an active role in your own security. Try and commit time to learn more about how you can be more aware, and even more proactive, in protecting yourself at eriefcu.org in our online security section and at cisecurity.org.

What’s up with Fairview? Well, as you know, we are looking to grow our membership and expand our footprint into Western Erie County. Plans are moving along nicely and we are hopeful to be breaking ground shortly on the Fairview branch during the fourth quarter. We will certainly keep you informed of our progress every step of the way.

Finally, what can I say about Member Appreciation Week in August? Not only did we have lots of fun activities and special giveaways, we also celebrated our 70,000th member! Congratulations to Jeremy S! We’re so happy you decided to join us. Celebrating our members is important to Erie FCU as they are the core of who we are as a credit union.

On behalf of the staff, management, and Board of Directors of Erie FCU, best wishes for a happy, healthy fall, Thanksgiving and holiday season!

Brian J. Waugaman, CEO

“Autumn is the season to find contentment at home by paying attention to what we already have.” – Unknown

How fitting that we celebrated our 70,000th member milestone during Member Appreciation Week! And the 70,000th member wasJeremy S. who banks at our Buffalo Road branch! For this honor, Jeremy received a $270 Visa Gift card along with an Erie FCU swag bag. We will also make a $270 donation on Jeremy’s behalf to the Erie Animal Network, his charity of choice.

When asked why he chose Erie FCU, Jeremy said: “Because I have many friends that are members and every one of them have nothing but good things to say. I am looking forward to banking with Erie FCU!”

Thank you for joining the Erie FCU family Jeremy!  And a HUGE thank you to all of our amazing members who helped make this incredible milestone possible.

We our members!  We Erie!  Happy Member Appreciation week!

Go BOGO for Erie Otters & the Erie Playhouse Courtesy of Erie FCU!

We love saving our Members money! We know Erie loves hockey, so we have teamed up with the Erie Otters to offer Erie FCU BOGO Nights! Hockey BOGO games and info: www.eriefcu.org/BOGOnights

We love supporting the Arts in Erie! Go BOGO for the Erie Playhouse productions of Clue and Elf the Musical! Playhouse BOGO info & schedule: www.eriefcu.org/special-offers/playhousemember-only-bogo-nights

To receive the above BOGO discounts, Erie FCU members must use their Erie FCU Platinum Mastercard, Debit Card or show their “member ID” (for cash purchases) at the box office to “buy one” ticket and get the 2nd ticket free!  (Offer not available for online purchases.)

We Are ERIE’S CHOICE!

Wow!!!!

Erie FCU has once again been voted Erie’s Choice in credit unions for the 10th year in a row!

The credit union was also voted Erie’s Choice in the following categories:

• Erie’s Choice in Mortgage Lender (3rd year in a row)

• Erie’s Choice in Financial Advisory Group –Erie Advisors! (3rd year in a row)

Thank you to everyone who voted!

Being an award-winning credit union is only possible because of you.

Member Appreciation Week!

A BIG thank you to all of our members who celebrated with us during Member Appreciation Week (MAW) 2022!

Our members are at the heart of everything we do. For 86 years, you have chosen us as your trusted financial partner and we are truly grateful. The word cloud below represents the comments received when we asked you to “Tell us why you LOVE Erie FCU”?

70K member Jeremy S. and Erie FCU CEO, Brian Waugaman.

Have Your Cake & Eat it Too

We Have a Sweet Home Equity Loan1 Deal for You! (2nd Lien, Fixed rate, Closed end loan)

Interest rates have been rising, but we’ve held our home equity loan rates steady. With rates as low as 3.75% APR* you can get the money you need to tackle what is important this fall/winter season, like consolidating your debt, making a major holiday purchase, paying tuition or turning your house into a dream home!

Come see us soon and turn your home’s equity into cash!

Loans subject to credit approval. Rates, terms and conditions vary based on creditworthiness, qualifications and collateral conditions and are subject to change based on market conditions and borrower eligibility. Offer ends January 31, 2023.

1 Special Offer applies to a New Home Equity loan, 2nd lien position, fixed rate, closed end loan with a minimum amount New Money borrowed of $10,000. EFCU loans or credit card payoffs are not considered New Money. Maximum loan to value 80%.

Property insurance required.Certain restrictions apply. See your credit union mortgage loan officer for details.

•APR = Annual Percentage Rate. Membership eligibility required. NMLS# 414454.

A Credit Card Offer That’ll Have You Waggin’ Your Tail!

You lucky dog! We’re throwing you a bone this fall with our Platinum Mastercard Fall Special Offer! Current card holders get a 1.99% promotional APR through March 31st, 2023 - on all purchases made now through December 31st, 2022

That’s right, a “tail-waggin” 1.99% APR! A rate so low, you’ll want to put our card at the top of your purchasing wallet! Need one? Apply today! Eriefcu.org

Own your own business? Ask about our business checking and credit card options too!

*On April 1, 2023 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.

Get Your Mitts on More Cash!

Our Holiday Helper Loan is Back!

It’s never too early to start crossing things off of your holiday list with Thanksgiving, Christmas and the New Year right around the corner! Find the funds for traveling, gifts, family vacation or whatever your year-end needs may be. Take advantage of our Holiday Helper Loan’s low interest rates and flexible, affordable monthly payments.

A personal loan for any holiday need! Apply online or at any office location today.

*Loans subject to credit approval. Membership eligibility required.

Why do hundreds of millions of people worldwide choose credit unions (like Erie FCU)? Well, it’s because credit unions have a people-first mentality and are constantly trying to improve their communities and the lives of their members. That local service feeds a worldwide network that reaches more than 375 million members across the globe. On Thursday, October 20, 2022, join credit union and financial cooperative members around the globe in celebrating 74 years of International Credit Union Day® .

Celebrate With Us!

Thank you for being part of the Erie FCU family. Stay tuned for announcements about ICU Day activities and fun!

Get Off the Stock Market Rollercoaster

If you’re looking to earn more than what a savings or checking account pays without taking on the risk and volatility of the stock market, our NEW Share Certificate Specials could be great options for you!

them out online or stop into any branch!

Restrictions apply. Membership eligibility required.

Be With

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.

Chuck Molloy LPL Financial Advisor Dave Garres LPL Financial Advisor

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

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

Halloween Spook-tacular

Did you know one of the most requested clothing items for those experiencing homelessness is new, clean socks?

For the month of October, Erie FCU is again reaching out to the community asking for donations of new, warm and practical, adult sizedsocks 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 new winter hats, scarves & mittens. (Men’s and women’s).

We will be collecting these items at any one of our 8 branch locations (during business hours) beginning Now through Monday, 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!

Ready for some fall fun?

Enjoy a tractor drawn Spooky Hayride through the

dark woods of the Sparrow Pond Family

located at

19 North,

members can take advantage

Will You Outlive Your Savings?

More than half of Americans are worried they will outlive their retirement savings, and research shows that women are more at risk of outliving their savings than men. According to the World Economic Forum, many American women will live more than 10 years past the end of their savings, compared to 8 years for men.

There is a significant shortfall between the savings amounts women have compared to men. One reason is women, on average, live longer than men. However, gender income disparity is another significant factor. For example, according to the U.S. Bureau of Labor Statistics, in the first quarter of 2022, women who were full-time wage and salary workers had median weekly earnings of $937, which is 84 percent of the $1,118 median salary men earn. Many people expect their Social Security benefits to provide most of their retirement income. That benefit is based on a person’s 35 highest earnings years.

The fewer years you spend in the workforce, the less you will receive in Social Security benefits. Since women are more likely than men to take time out of the labor force to care for children and elderly parents, those years without a paycheck will count as zero in their Social Security benefit calculation.

Women and men also differ in the way they save, invest, and use credit. Studies show that although women tend to save more than men and are more likely to pay off their credit card balance each month rather than carrying a balance, they gravitate toward more conservative, lower-risk investment options. Investing time into improving your financial literacy can help you make sound financial decisions for the future. Erie FCU has many resources to help you. Stop in or call to speak with one of our financial professionals to review your current retirement savings plan and learn how you can ensure a comfortable retirement.

Same Great Credit Union, New Great Signage

Ruth Waidley

It is with great sadness that we share with our credit union family that Supervisory Committee Member, Ruth Waidley, passed away on September 9, 2022.

Ruth was a member of the Supervisory Committee for 20 years. Ruth’s dedication and support to the credit union and our members over the years has been an im portant part of our growth. She will be greatly missed and fondly remembered. We’d like to extend our sincere condolences to the Waidley family.

When you visit our East 38th Street branch, make sure you check out the new signage! Up next are the Zuck Road and Edinboro branches.

3503 Peach Street • Erie, PA 16508-2741

Office Locations & Hours of Operation

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

Lobby Hours

Monday-Thursday: 9AM-5PM

Drive Thru Hours:

Monday-Wednesday: 9AM-5PM

Thursday-Friday: 9AM-6PM

Saturday: 9AM-3PM

Friday: 9AM-6PM Saturday: 9AM-1PM

Bayfront Office 1005 Greengarden Rd. Erie, PA 16501

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

Drive Thru Hours:

Monday-Wednesday: 9AM-5PM

Thursday-Friday: 9AM-6PM Saturday: 9AM-3PM

Buffalo Road Office 2436 Buffalo Rd. Erie, PA 16510

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 Rd. Erie, PA 16506

Lobby Hours

Drive Thru Hours:

Monday-Wednesday: 9AM-5PM

Thursday-Friday: 9AM-6PM

Saturday: 9AM-3PM

Erie FCU No Surcharge

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

Drive Thru Hours:

Monday-Wednesday: 9AM-5PM

Thursday-Friday: 9AM-6PM

Saturday: 9AM-3PM

State Street Office 518 State St. Erie, PA 16501

Lobby Hours

Monday-Thursday: 9AM-5PM

Friday: 9AM-6PM

Important

Routing Number: 243380927

Website: eriefcu.org

E-mail: memberservices@eriefcu.org

E-Z Phone: 814.825.2436, Option 9

Toll Free: 800.480.0494

Fee ATMs

Drive Thru Hours:

Monday-Wednesday: 9AM-5PM

Thursday-Friday: 9AM-6PM

Saturday: 9AM-3PM

Lobby Hours

Monday-Tuesday: 9AM-5PM Wednesday-Thursday: 9AM-6PM Friday: 9AM-7PM Saturday: 9AM-3PM

Walmart Office (Walmart Supercenter) 1825 Downs Drive Erie, PA 16509 32nd Street Office 1220 West 32nd Street Erie, PA 16508

Lobby Hours

Fastbranch ATM access only

Edinboro Office 101 Washington Towne Blvd. Edinboro, PA 16412

Lobby Hours

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

Glenwood Office 3503 Peach St. Erie, PA 16508

Lobby Hours

Monday-Thursday: 9AM-5PM

Friday: 9AM-6PM

Saturday: 9AM-1PM

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 10, 2022

ALL branches will be closed Veteran’s Day Friday, November 11, 2022

ALL branches will be closed

Thanksgiving Day Thursday, November 24, 2022

ALL branches will be closed Christmas Eve Saturday, December 24, 2022 Branch lobbies and branch drive-thrus are closing at 1PM. Christmas Day  Monday, December 26, 2022

ALL branches will be closed

Financial Statistics