FROM THE CEO MESSAGE
Finally… Summer!!!
Whether you are gearing up for family fun, taking on a home renovation project, looking for new wheels, or just heading to the beach, Erie FCU is here to help you reach your financial and life goals. Need some additional help? Please remember, Certified Credit Union Financial Counselors are also available at each branch location for your convenience and at no cost to you. Your continued patronage and support allows us to fulfill our mission of responsibly delivering financial solutions that meet the needs of our community. Thank you!
The first half of 2025 has been marked by measured growth and significant progress. It was a very busy quarter here at Erie FCU. As of June 30th, our financial position remains strong with assets of $813,492,903, loans eqating to $489,297,320, and membership topping 79,433. Along with continued expansion, we are celebrating progress, innovation and protection. From grassroots community and member engagement supporting the credit union tax exempt status, to the introduction of our new virtual member assistant, MAE, to further enhance the member experience (learn more about MAE later in this newsletter), our mission is, and will always remain, to serve you.
“Thereisalways
strengthinnumbers. Themoreindividualsor organizationsthatyou canrallytoyourcause,
thebetter.”
~Mark Shields
Together, we made a difference
As to the credit union tax status, I want to take the opportunity to personally thank each of you for standing with us in support of the Don’t Tax My Credit Union initiative. In a major victory for the credit union industry, the Senate has passed H.R. 1 without any mention of the credit union tax status. Your voices, combined with the relentless work of credit union advocates at every level, have made a powerful impact.
Credit union members locally (YOU!) and nationally, were a big part of the overall effort to share the Don’t Tax My Credit Union message. Prior to the Senate vote, senators received a letter signed by more than 750 credit union leaders urging them to ensure the credit union tax status remained protected through the floor vote. As part of the Week of Action, America’s Credit Unions, including Erie FCU, sent daily messages to Senate offices reinforcing how the tax status supports the positive impact credit unions make in the lives of more than 142 million Americans.
The Don’t Tax My Credit Union initiative generated more than 861,000 grassroots letters delivered directly to lawmakers. The campaigns digital ads targeted key tax writers and congressional leaders generating over 128 million ad impressions and engaged more than 191,000 activists.
A little bit of credit union “tax status” history
During the depths of the Great Depression, when banks and savings associations were closing across the country, Congress passed the Federal Credit Union Act chartering the credit union movement. Credit unions’ not-for-profit cooperative model was intentional to provide safe, affordable financial services and products for those left behind by the bankers who decided that serving working class Americans was no longer profitable or worth their time.
The tax-exempt status afforded to credit unions allowed credit unions to serve areas and people that banks would not serve. By every account, this legislation has been an unparalleled success. Data shows the credit union tax status brings $35 billion annually in financial benefit to members and non-members alike. It is one of the best investments the U.S. government makes with an approximate 1,400 percent annual rate of return.
Credit unions are member-owned and mission-driven unlike banks. Credit unions do not have shareholders demanding profits. We are not-for-profit financial cooperatives, democratically governed by our members, with earnings reinvested back into the communities we serve through lower loan rates, higher savings returns, and fewer overall fees. This model— recognized by Congress through the tax exemption—prioritizes people over profit, ensuring our focus remains on financial well-being, not investor returns. From America’s Credit Unions President and CEO, Jim Nussle, “Staying out of the budget reconciliation bill, H.R. 1, is a strong testament to the relentless, steadfast execution of our tax advocacy strategy, as well as policymakers’ recognition of credit unions’ impact to change lives for the better… We thank the U.S. Senate for securing the credit union not-for-profit tax status and not adding a new tax on 142 million credit union
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members as part of H.R. 1… Hard working Americans and their communities rely on the competitive rates and personally tailored services offered by credit unions to achieve their American Dream. By preserving the credit union tax status, it provides consumers across the country with more opportunities to achieve financial freedom.”
We believe this is fantastic news for our loyal members, the communities we serve, and our continued mission to invest in the people we care about most… you, our members! And once again, thank you for your support of your credit union.
Wishing you a summer of joy, renewal, and rewarding experiences,
Brian J. Waugaman, CEO
#TeamAOK
In
the Community!
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.
#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!
Community Impact Report
Erie FCU is proud to share its Community Impact Report, telling the story of our community investments and engagement initiatives in Erie County and beyond.
You can view the Impact Report and our 2024 Annual Report here: eriefcu.org/annual-report
Have a WILD Time with your Membership!
At Erie FCU, we are WILD about savings!
As a member, you are eligible for a discounted membership and tickets to the Erie Zoo!
Simply show proof of membership (Erie FCU member card, debit or credit card) at the gate or at the front office (The office is open between 8:00 am-4:30 pm Monday – Friday. Closed 1:00 pm-1:30 pm) to receive:
• $2 off general admission tickets* good throughout the season (maximum of 4 tickets per visit).
• $5 off ALL new and renewed memberships Erie FCU is proud to support the Erie Zoo. A beloved destination, the Zoo is celebrating 100 years of education, conservation, and family fun! You’ll enjoy visiting with over 400 animals as well as the 11 beautiful gardens throughout the park. The zoo is open daily from 10 am to 5 pm (last admission 4:15 pm) from March 1st through November 30th. Hours vary in October, and is closed Thanksgiving Day.
Visit www.eriezoo.org for zoo information.
* Offers good for walk-up, in-person tickets/memberships only. Discount(s) will not be honored if requirements are not followed. Erie FCU is not responsible for canceled events, changes to scheduled events, or ticket refunds.
Lights, Camera, Erie FCU BOGO Nights!
This year, we are offering two “Member Only” BOGO nights! Enjoy member savings on the Erie Playhouse performances of “Cats” (begins July 25) and the classic “Frozen – The Broadway Musical” (begins December 5).
Members can show proof of membership when buying tickets at the Playhouse box office to buy one ticket and receive a second ticket free for the same performance.
Learn more: eriefcu.org/erie-playhouse-BOGO
Let’s Talk Business (loans)
Whether it started in your basement or was handed down from one generation to the next, starting and growing a successful business is not easy. Let us lend a helping hand. Our experienced and trusted business lenders are ready to work with you! Do you need a business loan(s) for equipment, vehicles, or real estate? We have the business loan, both large and small, options to fit your needs. As a credit union, we are in a unique position to offer your business the best help we can, with customized loan options and local decision-making.
Interested? Let’s talk.
Learn more at www.eriefcu.org/business-loans or call 814-825-2436.
Take Me Out to the Ballgame!
Saving our members money is what we do! Erie FCU offers members great family savings at the ballpark! Every Erie SeaWolves Sunday home game, Erie FCU members can present an Erie FCU Mastercard, debit card or member ID (when purchasing tickets) at the UPMC Park ticket office to receive a free Smith’s Hot Dog and fountain drink with the purchase of a regularly priced Sunday ticket. Limit 4 hot dog/drink vouchers per member. Learn more: www.eriefcu.org/sunday-fun-day
Have Questions? Ask MAE!
Who is MAE?
MAE is Erie FCU’s Member Assistance Expert Chatbot - a virtual assistant that is available in the chat feature on our website at www.eriefcu.org. When you select to use our chatbot (within the chat feature on our website) you can type your question and MAE will search for an answer and respond in the chat box. MAE is available to help you 24/7.
Click the “Let’s Chat” icon in the bottom right hand side of your screen to start a conversation with MAE!
Can MAE Help Me with My Account?
MAE can answer general questions and help you navigate our website to locate the information you may need. For specific inquiries on your account, please reach out to our Member Support Team via (phone, live chat or email) during our normal hours of operation.
When Are Live Erie FCU Representatives Available?
If you’d like to chat with an Erie FCU live representative, you can do so through our live chat, via phone at (814) 825-2436, option #2 during normal business hours or by email for after hours.
How Does MAE Work?
is an AI virtual assistant who is always learning how to provide you with the best answer for your questions. MAE can answer general questions about products and services, location information, and more 24/7 through chat or phone!
Here are some sample questions you can ask MAE:
• “How do I become an Erie FCU member?”
• “What are your current Certificate Rates?”
• “How do I apply for a loan?”
• “Does Erie FCU have a free checking account?”
MAE learns more about the information you want each time you ask a new question, so you can always try rephrasing your question to get the answers you need.
If MAE cannot answer your question or request, you’ll be asked if you would like to speak to an agent and will then be transferred to the Erie FCU Member Support Center.
Pictured above from l to r: Matt Feleppa, Business Lender, Dylan Nantes, Business lender, Nathan Crouch, VP of Business Lending and Paul Kruszewski, Business Lender.
Make Car Buying Less Stressful
Ready to upgrade your ride? Whether you’re looking at new or used, shopping for your next vehicle doesn’t have to be stressful. Here are eight tips to consider before you hit the dealership:
1 Do your homework: Zero in on the type of car you think you’ll buy before you start shopping. To help narrow the field, ask important questions like: What size vehicle do I need? What features are essential? How much can I spend? Visit our online car-buying site to see local dealers’ inventories with the lowest pricing available.
2 Be willing to walk away: If a deal sounds too good to be true, it likely is. Don’t be caught in a pressure situation to buy. Always be willing to walk away from a deal that has you asking questions. You could PAY less for your purchase if you negotiate AWAY from the lot after you test drive. The ball will be in your court!
3 Have used cars checked out thoroughly: If you are interested in a used car, have the vehicle checked by a diagnostic mechanic. Take the vehicle for a test drive and stop by your favorite mechanic.
4 Have your finances in order: When you are close to making a purchase, contact Erie FCU before you ever visit the car lot! We have great rates and can work with you to get preapproved so you know what you can afford before you shop.
5 Think long term: Making a major purchase will likely have a short-term impact on your credit. If you are planning on making another major purchase within a year, consider the impact on your ability to garner financing and at what interest rate.
6 Think total debt: Don’t focus on just the monthly payment. Be sure to look at the total price you are being charged for the vehicle along with the number of years of repayment. Consider how many miles are on the unit, how many you are going to drive each year and how many years you have been driving the car you currently have. These tips can help you avoid being upside down on your new car purchase. You want to avoid loan terms longer than five years when possible and definitely avoid terms longer than six years. The lower payment may sound nice, but the depreciation adds up and can be a drag if you want to trade in 2–4 years.
7 Do your research: Most dealers list inventories of new and used units online, along with the VINs, making it much easier to arrive at a car’s value. Request a CARFAX® report for all used vehicle purchases.
Ready to roll?
Cars, trucks, SUVs. Purchases, refinances, extra protection. Whatever you need for your ride, we’ll help you find it –including the ride itself.
Protect Yourself from Fraudsters this Summer
Unfortunately, scammers and fraudsters do not take the summer off. We continue to hear from you about increases in scammer activity. More recently, fraudsters are making phone calls spoofing our phone number to acquire member account information. Just a reminder, Erie FCU will NEVER contact you requesting account information via phone, text or email.
Cybersecurity begins with awareness. Be “in the know” with our “Security Tips & News” page on our website. Find the latest security tips, news and breaches along with helpful tips and news necessary to stay one step ahead of the fraudsters!
Learn more: eriefcu.org/security
We hope you’re having a great summer break!
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 in 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:
Peach Street, Erie, PA 16508
IRA Quiz
1. You are unable to contribute to an IRA if you have reached the maximum contribution limit in your 401(k).
2. You can contribute to both a Roth IRA and a Traditional IRA in the same year.
Test your IRA knowledge by answering True or False to the statements below, and then check the answers to see how you did!
Schedule an appointment online at eriefcu.org/appointment or call 814-825-2436 to speak to one of our IRA specialists over the phone for help with your IRA needs.
3. A married couple filing jointly can combine their IRA funds into a jointly funded spousal IRA.
4. You can start taking funds from your IRA at age 62, the same age you can begin to collect Social Security.
5. The annual deadline to contribute to an IRA is December 31.
6. A Traditional IRA will give you tax benefits now while a Roth IRA will provide you with tax benefits in retirement.
Answers
1. False: Maximum contributions to a 401(k) are entirely separate from maximum contributions to an IRA.
2. True: You can contribute to both a Roth IRA and a Traditional IRA in the same year.
3. False: There are no jointly funded spousal IRAs. (However, there is a spousal IRA.) A married couple’s IRA funds cannot be combined in the same account.
4. False: You can withdraw Traditional and Roth IRA funds at age 59½ or earlier with some exceptions.
5. False: You can contribute to an IRA for a given calendar year up until the tax deadline of the following year.
6. True: Traditional IRA contributions are before-tax dollars, meaning they are tax-deductible contributions that you must pay taxes on upon withdrawal. Roth contributions are after-tax dollars, meaning that you pay taxes now, but can withdraw earnings tax-free at retirement.
We’ll Help You Make the Move!
In the market for a new home? Perfect! Sit back, relax and let Erie FCU help you make the move and get settled sooner. Questions? Request a free, no obligation, mortgage consultation. Get professional advice and answers to your questions with an Erie FCU mortgage specialist on YOUR time! Voted Erie’s Choice in Mortgage Lender, Erie FCU makes home buying easy! Learn more: www.eriefcu.org/mortgage-center
825-2436 • eriefcu.org
It’s SHRED-TACULAR!
Our Annual Shred Day will be held at our Glenwood Office at 3503 Peach Street on Friday, August 15th from 4 PM to 6 PM. Each member can bring up to two (2) paper sized boxes of unwanted documents. If you’re able, bring us an unopened plastic jar of Peanut Butter or Jelly (or both) to be donated to the Second Harvest Food Bank of NW PA. As a member, your security is paramount. Shredding is a safe and secure way of preventing valuable information from getting into the wrong hands. Help protect your identity while cutting through the clutter and shredding some pounds! Grab those boxes of old receipts, statements and other personal documents you want to get rid of and we’ll shred away. Details here: eriefcu.org/shred-day
Summer Skip-A-Pay* Is Here!
If money is tight and your budget is in a pinch, we’ve got your back. Give your budget a break without worrying about your loan payments. Whether you’re planning a summer get-a-way, facing unexpected bills, or just need a little extra room in your budget to make ends meet, you can skip a loan payment whenever you need it and up to two times per year.
Erie FCU loan payments eligible to skip include a Personal, Auto, RV, Boat, or Motorcycle Loan** . The fastest and easiest way to request a payment skip is through your Erie FCU Online or Mobile Banking.
Get started 24/7! Log in to EZ Money Manager, at www.eriefcu.org, sign onto your account and choose Skip-A-Pay from the menu
• Click the loan payment that you would like to skip.
• Review your information, and click Skip. It’s that easy!
Skip-A-Pay forms are also available at any office or call today at (814) 825-2436 to get the process started.
Learn more: eriefcu.org/skipapay
*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.
**Loans subject to credit approval. Membership eligibility required.
Save on Summer Fun!
ERIE, PA
We’ve arranged for a special online discount for our members on Waldameer & Water World all day combo passes! Membership has its advantages!
For more information: www.eriefcu.org/waldameer-member-discount The Erie FCU discount code is: ERIEFCU2025
3503 Peach Street • Erie, PA 16508-2741
Office Locations & Hours of Operation
38th Street Office 1109 East 38th St. Erie, PA 16504
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Bayfront Office 1005 Greengarden Rd. Erie, PA 16501
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM
Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM Drive Thru Hours:
Buffalo Road Office 2436 Buffalo Rd. Erie, PA 16510
Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM
9AM-5PM • Thur-Fri: 9AM-6PM
9AM-1PM
Edinboro Office 101 Washington Towne Blvd. Edinboro, PA 16412
9AM-5PM Friday: 9AM-6PM
Erie FCU No Surcharge & No Fee ATMs
Fairview Office 7141 West Ridge Rd. Fairview, Pa 16415
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Important
Information Drive Thru Hours: Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM
Mon-Wed: 9AM-5PM
9AM-5PM • Thur-Friday: 9AM-6PM Saturday: 9AM-1PM Drive Thru Hours: Mon-Wed: 9AM-5PM •
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
Glenwood Office 3503 Peach St. Erie, PA 16508
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
State Street Office 518 State St. Erie, PA 16501
Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM
Peach Street Office (Walmart Supercenter Peach & I-90 ) 1825 Downs Drive Erie, PA 16509
Lobby Hours
Mon-Tue: 9AM-5PM Wed-Thur: 9AM-6PM Friday: 9AM-7PM Saturday: 9AM-3PM
Zuck Road Office 5500 Zuck Rd. Erie, PA 16506
9AM-5PM
9AM-1PM
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)
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.
Holiday Hours & Closings
Labor Day Monday, September 1, 2025 All offices will be closed
Statistics Financial Data as of June 30, 2025
$813,492,903
$489,297,320