Erie FCU - 2023 Annual Report

“Coming together is a beginning. Keeping together is progress. Working together is success.” —Henry Ford

Our Mission Statement

The mission of Erie Federal Credit Union is to responsibly deliver financial solutions that meet the needs of our community.

Our Vision Statement

The vision of Erie Federal Credit Union is to be the #1 most trusted financial resource in the region.

EXECUTIVE LEADERSHIP TEAM

Brian Waugaman, Chief Executive Officer

Brian Warzynak, Chief Information Officer

Chris Cortes, Chief Operations Officer

Denise Kaczmarek, Chief Lending Officer

Fred Tonty, Chief Financial Officer

Thomas Brennan, Chief Marketing Officer

Tracey Cettin, Chief Human Resources Officer

Gudgeonville Bridge Girard, PA

Report of the CEO

Allow me to begin by thanking our volunteer Board and Supervisory Committee, dedicated staff, and valued members for yet another amazing year of growth and purpose. Despite continued economic uncertainty, your credit union remains strong and stable, and continues to advance. Erie Federal Credit Union’s capital position increased to 9.75% of assets by year end 2023. This remains well above the ‘well-capitalized’ threshold of 7.00% established by the National Credit Union Administration (NCUA).*

• Membership grew by 3,684 to a total of 76,010.

• Deposits grew by $57 million, or 8.51%, increasing total deposits to $732 million.

• Loans grew by $30 million, or 6.49%, increasing total outstanding loans to $497 million, including unsecured, auto, mortgage, and business lending portfolios.

• Assets remained steady at $779 million.

Erie Federal Credit Union was successful in achieving many milestones throughout the year. From total membership and deposit activity to commercial and residential lending, we experienced significant yearover-year growth in practically every area of operations. Twenty new positions were filled during the year bringing our total workforce to now over 200 individuals strong.

Following the review of annual member survey results, a strong member focus identified the need for extended Support Center hours. Beginning January 3, 2023, Support Center hours were extended to include, Monday through Friday from 8:00 AM - 6:00 PM and Saturday from 8:00 AM - 3:00 PM.

Erie Federal Credit Union successfully received certification as a Community Development Financial Institution or CDFI in April. CDFI’s invest in local communities and the residents who live there by providing critically needed financing often unavailable from mainstream financial institutions with the aim of increasing the impacts we make within our community and the businesses we serve.

Supporting CDFI certification, 100% of eligible Erie FCU employees completed coursework to become Community Development Certified Financial Counselors (CDCFC) through the HERO “Helping Everyone Reach Opportunities” program. The HERO curriculum provides training, testing and certification while educating staff

to better recognize and serve consumers in financial distress. In addition, a newly remodeled West 32nd Street facility now provides a centralized Corporate Training and Media Center to further credit union ongoing staff and leadership development efforts. After more than 35 years on the same platforms, it became imperative that Erie FCU complete the necessary conversion process for both our credit and debit card programs. Projects of this size and scope are no small undertaking and literally involve the entire credit union team to accomplish successfully. In addition to newly rebranded credit, debit, and ATM card plastics, a new full-feature card management mobile application was introduced offering greater member access to card activity and enhanced functionality across both platforms, including integration of a much-requested debit card lock feature. I could not be prouder in witnessing our teams collective efforts to coordinate the many moving parts of this conversion while maintaining 5-star service to our membership.

In addition, we continued to expand our suite of business service offerings introducing both true Business Bill Pay and a new Business Rewards credit card.

Erie Federal Credit Union revised in-house mortgage workflows and developed a Mortgage Consultation area to centralize and provide better assistance to both members and realtors when navigating the sometimes-daunting mortgage process. These efforts have been positively received by all stakeholders. Our Mortgage Consultation area is a free-service provided to answer any and all questions members may have when looking for the home of their dreams. Better yet, this same team of professionals will assist you from questions to closing. Simply contact us directly or search for Free Mortgage Consultation on our website to request more information.

Lastly, and certainly not least, Erie FCU completed construction and opened our greatly anticipated Fairview Branch in September. We would like to thank Fairview Supervisors for their assistance and direction throughout this project in addition to the Fairview community who were extremely supportive and welcomed our expansion to West County.

From all of us here at Erie Federal Credit Union, we must again extend our sincere appreciation to both members and the community for your continued support, trust, and awareness of your credit union’s purpose. Because of our continued commitment to the communities we serve, Erie FCU was once again voted:

• “Erie’s Choice in Credit Unions” by readers of the Erie Times-News for the eleventh consecutive year in a row.

• Erie’s “Best Bank” for the tenth consecutive year by readers of the Erie Reader.

• Four-time repeat winner of “Erie’s Choice in Mortgage Lender”, and our Erie Advisors group was awarded “Erie’s Choice in Financial Advisory Group.” Continued next page.

Brian J. Waugaman, CEO

REPORT OF THE CEO, con’t.

In addition, and something we are all very proud, Erie Federal Credit Union was awarded “Erie’s Choice in Best Place to Work 100+ Employees.” Striving to be an employer of choice, Erie FCU invests heavily in our staff to ensure each are equipped with the skills and knowledge necessary to provide the exceptional member experience you have come to expect.

I truly believe the achievements made, in light of the economy in which we are operating, continue to confirm our commitment in doing the right things to support our members and local businesses while promoting our city and region. Please be sure to review the Community Impact report provided within to see all the additional ways Erie Federal Credit Union is making a difference in the communities we serve.

In conclusion, I am happy to report that our credit union remains financially sound and very well-positioned for continued growth and expansion well into the future. As a valued member, you are the purpose behind all we do; the reason for our continued growth and success. Our collective success relies on continued support from our members, dedicated staff, volunteers, and community partners. We cannot make the difference we do without you. Thank you!

Election of Directors

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.

Nominated by Committee for re-election to the Board: Laurie Becker and Bill Dietz. The nominees will serve a 3-year term. New Board Member: Erie FCU is pleased to announce the addition of Bob Langley as its newest Board Member. Mr. Langley joined the Supervisory Committee in 2022 after completing the Associate Volunteer Program training. He holds an Associate Degree in Specialized Business and is a graduate of the Disney Institute for Leadership Excellence. Mr. Langley has eight years of experience in the credit union industry and is currently a Sales Engineer at Polymer Molding, Inc.

Supervisory Committee Report

Rick Macer, Chairman

Erie Federal Credit Union’s Supervisory Committee consists of volunteers who are appointed by the Board of Directors in accordance with the Federal Credit Union Act. This Committee is responsible for ensuring that credit union policies, procedures and internal controls are adequately designed to protect the Credit Union and its members’ assets against fraud and conflict of interest.

The Committee oversees and reviews the work of the internal audit department and ensures the financial condition of the credit union is accurately represented in their financial statements through a review by an independent audit firm.

CliftonLarsonAllen, LLP, a top 10 public accounting firm, completed an annual audit of our financial statements and verified the accuracy of members’ accounts for the year ending March 31, 2023. They confirmed the financial statements fairly present Erie FCU’s financial position and conform to generally accepted accounting principles.

The National Credit Union Administration (NCUA) is an independent federal agency that regulates federal credit unions like ours. They conduct periodic examinations of federal credit union’s records and operations. Erie FCU’s last exam performed by NCUA was as of September 30, 2023.

The Supervisory Committee is pleased to report these positive results. We will continue to work diligently in 2024 to ensure the Credit Union remains a safe and sound institution. We are grateful for the opportunity to serve you!

In closing, I would like to thank the internal audit department for all the help they provide to our committee.

DEPOSITS

Up 8.51% in deposits

In spite of Federal Reserve interest rate hikes and a very competitive environment for deposit growth, Erie FCU grew deposits by $57 million, or 8.51% in 2023. We also offered a number of certificate specials that were very well received by our members!

Laurie Becker Board Chair

BOARD OF DIRECTORS

Report of the Board of Directors

On behalf of the Board of Directors and entire Erie FCU team, we proudly present the 2023 Annual Report. I believe each page is a tribute to the reasons we’re grateful for in the past year and for what’s still to come in Erie FCU’s future.

Before my report, I’d like to briefly address our 2024 Annual Meeting and its importance. The Annual Meeting is democracy in action. Meaning that it’s an occasion for management and your elected officials to report to you, our owners. At the meeting, you have the opportunity to learn more about the credit union’s financial position, products and services, current business issues, and future goals. Also, you will be able to meet the people, professionals and volunteers, who run your credit union. If you have not taken part, I invite you to do so in the future.

The year that was

As we enter our credit union’s 88th year, it is with great pride that I am able to report that the state of Erie Federal Credit Union is strong! We closed out 2023 and remain Northwest PA’s largest member-owned credit union, with more than $770 million in assets and serving over 76,000 members. From total membership and deposit activity to auto, commercial and residential lending, we experienced year-over-year growth at virtually every level of our business. To ensure this stability and growth, for example, we developed new-and-improved deposit products to encourage members (and non-members) to move their money from other financial institutions to Erie FCU or keep it in place by offering top of the market deposit rates.

Despite the challenges faced in 2023, our credit union has stood by the commitment to support our members and communities and have even expanded our footprint by opening a new branch in Fairview, PA. We now operate a total of 9 branches across Erie County, each of which continues to add new members to our growing credit union family

Laurie Becker, Board Chair

each and every day. The past year has continued the trend of change in the financial world. We have all felt the challenges of inflation and the historic interest rate hikes from the Federal Reserve in 2023 and we look forward to a period of stability in the banking industry. These difficulties and obstacles are not lost on us at Erie Federal Credit Union and we are here for you! We feel that we are better able to weather tough economic periods. We do this by staying wellcapitalized. What that means is that we have some wiggle room to absorb economic and market fluctuations.

Strategic planning was a critical focus point for the Board in 2023. With talented facilitators, we have worked hard to chart a course for measured growth, emphasizing innovation and community outreach. These strategic initiatives are designed to enhance the value we deliver to our members and solidify our position as a trusted financial partner.

In 2023, we were excited to share that Erie FCU was approved by the US Treasury to become a Community Development Financial Institution [CDFI]. Less than 10% of all credit unions in the United States have been awarded this designation. To become a certified CDFI, the financial institution must: have a primary mission of promoting community development; serve one or more defined lowincome target markets; maintain accountability to the community it serves; and be a legal non-governmental entity. We look forward to the execution of our CDFI plan in the near future.

Whether you are a brand new or a long-time member, I hope you can tell why your Credit Union is “Intentionally Different”. Meaning, credit unions are different from banks in significant ways. Those differences were made intentionally, with you as the focus. For one thing, credit unions are not-for-profit cooperatives owned by you, the members. Therefore, credit unions try to avoid doing anything that might harm their members. In contrast, for-profit institutions,

Dr. Pablo Reyes

Bill Dietz

Dennis Howard

James Lazan

Bob Langley

Richard Macer

2023 IMPACT REPORT

At Erie FCU, our mission includes serving the financial needs of our members and a commitment to promote strong and vibrant communities. We do this by supporting community organizations, participating in and hosting events, donating funds to worthy causes and so much more. We are excited to share our 2023 to show our members, employees and partners what we accomplished together.

Community Lending

Erie FCU’s front-line branch and consumer lending staff have approved and funded 4,556 consumer loans totaling over $38 million

Loan Extensions – When our members struggle financially, via a layoff or strike, Erie FCU consistently steps up with solutions. Erie FCU granted 124 loan extensions in 2023.

Student Loans – Erie FCU partnered with Sallie Mae® to offer loans created specifically for the needs of undergraduate and graduate students - Over $730 thousand in funding dispersed.

Credit Cards: 1,348 approved credit card applications, $2,677,855 in new limits approved.

Personal Loans – Whether you have good credit, bad credit or something in between, Erie FCU has personal loans designed for you. Nearly $15 million in personal loans approved in 2023.

Vehicle Loans

Erie FCU makes it happen with an affordable new or pre-owned vehicle loan to meet our members’ needs.

First-Time Auto Buyers – $414,956.72 was financed to 37 firsttime auto buyers

Auto Refinance Program – In 2023, Erie FCU again gave borrowers a 1% rate discount on their qualifying rate and a 1% cash back on their refinanced loan.

Indirect Auto Lending - Members conveniently financed their vehicle with Erie FCU right at the dealership. The Indirect Lending team funded nearly 3,200 auto loans for over $95 million at local dealerships in 2023.

Member Savings

Accounts to help our members achieve their savings goals

• In 2023, deposits grew by $57 million, or 8.51%

• Erie FCU’s 12 Month Term Share Certificate paid 4.85% APY versus the national average of 4.03% APY.

The credit union’s strong track record of growth is excellent and is an indicator of consumer confidence and the organization’s ability to strengthen its balance sheet.

Card Conversions

Newly Designed, Contactless Credit and Debit Cards – In our commitment to providing the highest quality member service, Erie FCU partnered with a new credit and debit card processor to improve the features and benefits of its card programs. The credit card conversion was completed in May and the debit card conversion in August. This transition brought improved features and services for member cardholders, such as simplified card management within Erie FCU Online Banking, cutting-edge fraud detection, and the convenience of tap to pay contactless cards.

Home Ownership

CELEBRATING “SOLD” TOGETHER – We believe that in order to support a more vibrant community, we should work towards ensuring that more of our neighbors have access to affordable home ownership.

Home Ownership – Sixty five (65) homes were financed for $8,971,870 in 2023 bringing our overall mortgage portfolio to over $75 million.

Development of a new Mortgage Consultation department to answer any questions members may have and offer a higher degree of communication during the home buying process to ensure a smooth and seamless experience.

- 466 Mortgage Consultations were submitted via the online consultation form. Our mortgage experts provided free mortgage consultations to 241 members in 2023.

16% of mortgage purchase loans funded in 2023 were made to low/moderate income borrowers based on First Front Door (FFD) and First-Time Home Buyers (FTHB) results.

• First Time Homebuyer Program – $274,750 was financed to 3 first time home buyers through our First Time Homebuyer program.

• First Front Door – $33,345 in grants were provided to 7 new homeowners.

Business Banking

Business Lending – At Erie FCU, our business lending experts used their experience in the community to design loans and lines of credit supporting the need for local business growth and expansion.

• Loans provided by our Member Business lending Team in 2023: Over $15.3 million moving our combined business lending portfolio north of $75 million.

New Business Credit Cards were rolled out in 2023 - Whether you carry a balance each month or want to be rewarded for everyday spending, we have a credit card that is right for you.

Awards and Accolades

Honored to be recognized for doing what’s best for our members and community.

• Erie FCU was voted “Erie’s Choice in Credit Unions” for the 11th year in a row, “Erie’s Choice in Mortgage Lender” for the 4th straight year and Erie Advisors, located at the credit union, was recognized for the second time as “Erie’s Choice in Financial Advisory Group.” Erie FCU also won “Erie’s Choice in Best Place to Work 100+ Employees” for the first time.

• Erie FCU was voted “Erie’s Best Bank” by the Erie Reader for the 10th straight year.

• Erie FCU was honored to have been recognized with a gold and a silver award at the 2023 PRSA NWPA Chapter, Niagara Awards. The Niagara Awards honor the best of Northwestern Pennsylvania’s Public Relations and Marketing Communications Practices. Erie FCU won a gold award for our Checking Options video series and a silver award for the Fairview Branch Grand Opening marketing.

• Erie FCU has been recognized with two bronze awards at the Marketing Association of Credit Unions - MAC Awards held May 24th in Nashville, Tennessee. The bronze awards were in the category of “Best Newsletter” and “Best Annual Report.”

Member Benefits

• Sixty two (62) free financial counseling sessions given to members.

• 100% of eligible Erie FCU employees completed coursework to become Community Development Certified Financial Counselors (CDCFC) through the HERO “Helping Everyone Reach Opportunities” program.

VITA Free Taxes (The Volunteer Income Tax Assistance Program):

• Erie FCU completed 1,278 tax returns producing $1,771,145 in refunds for our members in 2023. The credit union also saved member filers an estimated $355,284 ($278/federal return) in tax preparation fees.

• Number of filers 60 years plus: 389

• Percentage of filers 60 years plus: 30%

A Commitment to Member Support

• 3,500 additional consumers will have become members of Erie FCU by year end.

• Erie FCU’s Member Support Center team provided convenient and friendly service in 2023, while responding to 234,332 incoming phone calls.

• Twenty (20) new positions were filled over the past year bringing our total workforce to over 200 individuals strong.

• Our teller staff have processed well over a half million teller transactions (619,645).

Erie FCU in the Community

Donations and Community Outreach – Being active in our community, especially on the topic of financial literacy, is part of who we are as a credit union.

• Erie FCU celebrated the opening of its newest, state of the art branch in Fairview, PA on Wednesday, September 6, 2023.

• 41 different organization received monetary support totaling $71,985.61

• Give Hope - Feed the Need - Due to the continued demand for food assistance and hardship in our community, Erie FCU donated $30,000 to ten local food agencies and nonprofits to fight hunger.

• Served over 33,000 individuals in our community by way of outreach activities.

• Engaged over 1,500 youth in financial literacy sessions at schools and nonprofit organizations who serve our youth.

• Over 50 Erie FCU volunteers volunteered time with Team AOK (Team Acts of Kindness) – completing over 200 volunteer hours. Since the inception of Erie FCU’s Team AOK, volunteers have tallied thousands of hours of volunteerism. True to the spirit of “People Helping People”, Erie FCU had 126 volunteers provide 232 hours to organizations and events in 2023. Some of this time was spent delivering warm winter clothing to homeless shelters, donating movie tickets along with other fun ticket opportunities to youth groups and surprising local food pantries with monetary donations so they could “Feed the Need!”

• PB&J Collection/Shred Day – Erie FCU donated 520 pounds of food and cash. Donations helped feed the more than 31,000 neighbors in Erie County that are food insecure. Annual Shred Day helped members safely dispose of confidential paperwork in an environmentally responsible way. Shredding last year helped save 665 trees.

• Socktober – In October, Erie FCU members and staff collected socks, gloves, hats, and scarves during a month long “Socktober” drive and donated to local shelters that provide to those in need.

• Victorian Holidays at the Hagen History Center (Erie County Historical Society)Erie FCU again sponsored this annual event which enabled visitors a discounted admission.

• Erie FCU paid $1,500 in pet adoption fees in 2023 at local shelters as a part of our Adopt Local initiative – Erie FCU worked with community partners, The Anna Shelter and Because You Care.

Impacts in Diversity, Equity and Inclusion

Diversity, equity and inclusion (DEI) are put into practice to ensure we create a welcoming environment where members, employees and our community can flourish. Mistreatment of anyone will not be tolerated at Erie FCU.

REPORT OF THE BOARD OF DIRECTORS, continued...

like banks, focus on generating income for their shareholders. To generate that income, banks at times, engage in sometimes lucrative, but risky practices, that most credit unions avoid. A case in point: credit unions did not engage in practices that caused the deposit insurance bank failures in March of 2023. The philosophy of the credit union movement is “People Helping People.” Your credit union was established for you. We’re here to provide you, your family, and your community with a secure place to keep and grow your money.

Erie FCU continues to hold member experience as the focal point in everything we do, which is reflected in our ability to thrive despite the last few years of economic challenges and public health crises. Our team listens to our members and provides opportunities based on their feedback and experiences. We encourage you offer us this valuable

input via participation in our annual Member Satisfaction Survey which is coming this fall! We will be sure to let you know.

Looking ahead

As we move forward, we know many members still feel financial uncertainty. Be assured, we are well prepared to face whatever the economy may bring. With a solid asset base and capital to support us, we will continue to keep your needs and our communities’ needs at the forefront.

In conclusion, I would like to thank my fellow Board Directors, the Supervisory Committee and Management for their leadership, and special kudos to our hard working employees for their dedication to and care for our members. On behalf of all of us, thank you for your membership, your continued loyalty, and for allowing us the privilege of being part of your lives.

OpenedEyes Brandon Wiley - MS LPC, Founder and CEO

“We chose Erie Federal Credit Union over other Financial Institutions because of their exceptional customer service and personalized approach to banking. A staple in the Erie Community, Erie FCU service stands out—their competitive rates, convenient online banking options, and a wide range of financial products are tailored to meet our needs.

I would highly recommend Erie FCU without hesitation. Their dedication to customer satisfaction, quick response times, and overall positive banking experience make them a top choice for anyone seeking a reliable financial partner. They are a true Erie banking company that cares about the community they are a part of.”

The Copper Carriage Joe & Stephanie Hunt, Owners

“We have had our personal accounts with Erie FCU and have been happy with the services and support. Because of the trust and confidence, we thought it a natural fit to use them for our business accounts.

We are happy we made the move and appreciate the local and personal touch we get with the credit union.

We would definitely recommend Erie FCU to others because we have had such a good experience. Thank you.”

A Waffle

Miracle Alexandra & Jessica Peirson, Owners

“When we went from a sole proprietor to an LLC in 2023, it was a big challenge to pick what bank we wanted to grow with for the long haul. We were at a local bank and seemed to be very limited with the continued growth of our “risky” business. Erie FCU seemed to be the perfect fit of not too big and definitely not small. The foundation Erie FCU has created of strength and good banking made us confident in choosing them. It is truly nice to have a branch around every corner when running around owning a business. I have never had a problem with communication being as immediate as needed when we reach out for any reason.

On a personal note, (the credit union) offering free tax preparation services to its members, has been so valuable for a lot of people we know. That means a lot to offer something that such a high percentage of people are uncomfortable with and get confused by. Making it easier and creating a peace of mind is amazing for a local financial institution to offer back to their members. Compared to other banks, Erie FCU really seems to be there for us, not just themselves. We also enjoy the love and excitement we get from their staff when they are enjoying our food truck days. We even received a wedding gift basket from them right before our wedding that is something we will never forget.

Moving forward, we hope to do as much as possible with Erie FCU for business. And personally, they are here for us, and we’re here for them.”

OpenedEyes

The Copper Carriage

A Waffle Miracle

September 6, 2023

Erie FCU officially opened its 9th branch in Fairview, PA.

The branch was part of an ongoing growth strategy to strengthen our presence in western Erie County. The Fairview community has welcomed us with open arms, and our branch team has done an amazing job at building new relationships in a market that’s new to us.

We are very proud to be a part of the Fairview community, and are excited to participate and support in any way we can.

6,729

Over the last few years, and especially in 2023, Erie FCU has been developing the Mortgage Consultation Department to enhance and deliver a better member experience through the Mortgage process. The department was developed with feedback from members, employees, realtors and other real estate professionals on how the credit union could better serve the community.

In 2024, Erie FCU will officially move all purchase mortgages out of the branch offices and into one Centralized location, the Mortgage Consultation Department, located at the Erie FCU Corporate office. The department has evolved and grown to ensure a smooth process from beginning to end, including consultation, budgeting, credit counseling, and finally getting the keys to a new home.

Combating Fraud

In 2023, we made it a point to advance our processes and technologies to detect fraudulent behaviors and to prevent negative impact on our members. Our fraud and security professionals take these steps behind the scenes so that our members’ digital experience remains seamless.

Financial Overview

Year Ending December 31, 2023

Assets

Interest Expense

Message from the Chief Financial Officer

In a year marked by rising interest rates, inflation and a number of bank failures, Erie FCU remained safe, secure, and stable. 2023 proved to be a good year thanks to you, our members.

Despite two major card conversions and significantly larger dividend expenses, income still topped $500 thousand, loans grew a robust $30 million and deposits saw an outstanding increase of $57 million. Assets increased $300 thousand as Erie FCU continues to

expand its membership base in Erie and Crawford counties. Erie FCU remains top of market in loan and deposit rates. In short, we continued our mission that was started in 1936, to be the trusted financial partner to our members, now at more than 76,000.

The same economic forces impacting your daily lives last year also affected our credit union. While some financial institutions faltered, we worked hard to maintain our financial strength and a strong capital position of 9.75% which is well above the “well-capitalized” distinction of our regulators, the National Credit Union Administration (NCUA). One of, if not the most important measurements of a credit union’s soundness is its capital ratio. We attribute this strength and resilience to the effectiveness of our operational planning and risk management processes and procedures. If you would like to review more specific financial details from 2023, please refer to the Financial Overview section of this Annual Report.

Erie FCU exists to “responsibly serve its membership”— which is clearly evident as the credit union continues to grow membership, loans and

deposits. We continue to expand our products and services to meet the needs of our community through strategic initiatives and technology to serve our members more efficiently, including adding a new branch in Fairview, PA to provide a more convenient banking experience for our western Erie County members.

In conclusion, we ended 2023 financially strong and ready to serve our members and our local communities. Continued growth and financial strength are expected to continue in 2024 as our Board of Directors, Management team and all our staff work hard to provide the financial services Erie FCU members need.  However, none of our growth, value and expanded product offerings could have happened without your continued trust. Again, thank you for your membership and support!

5-YEAR ASSET GROWTH

Erie FCU uses HERO Financial Counseling Training to be Members’ Hero

Erie FCU remains committed to investing in the ongoing education and professional development of our staff and volunteers.

We are extremely proud to announce that in 2023, 100% of Erie FCU staff employed for a period of one year or more, have successfully completed the courses necessary to achieve their HERO Community Development Certified Financial Counselor (CDCFC) certification!

The objective of the HERO (“Helping Everyone Reach Opportunities”) curriculum is to train all credit union staff on the very best techniques in identifying financial distress, intervention, and coaching individuals and families to improve their financial lives. Through consistent coaching, education and development, Erie FCU desires to increase our team’s knowledge and overall valuable service to you, our members.

“We wanted to empower our staff so they are able to help our members reach financial stability through financial education,” said Tracey Cettin, Chief Human Resources Officer.

The HERO Financial Counseling curriculum offers nine modules, ranging from buying a car, to budgeting and fraud prevention/detection, to prepare staff to handle a variety of financial issues consumers bring to them every day.

Fred Tonty, CFO

Pictured (L-R): Erie FCU CEO, Brian Waugaman, Topazio L. and Erie FCU Buffalo Road Branch Manager, Nicole Krebs

“Erie Federal Credit Union is one of our strongest mission partners. We have worked closely to benefit the community for many years and the year 2023 was no exception. The Erie FCU staff is always willing to lend a helping hand in support of our programs. Whether it is for our Christmas gift program (Shining Stars), our Food Pantry, or our Erie’s Best Coffee, they are by our side to help us accomplish our goals. Their staff is very well connected to the community and easy to work with, no matter the occasion. Our collaborations are seamless, and St. Martin Center can accomplish much more with them by our side”.

David

González, MS, Chief Executive Officer, St. Martin Center, Inc.

110 9 East 38th Street • 1005 Greengarden Road

2436 Buffalo Road • 518 State Street • 5500 Zuck Road

7141 West Ridge Road (Fairview, PA ) • 1825 Downs Drive (Walmart Supercenter) 101 Washington Towne Blvd. (Edinboro, PA ) • 3503 Peach Street (814) 825-2436 • www.eriefcu.org