FROM THE CEO MESSAGE
Don’t Tax My Credit Union
During times of economic uncertainty, consumers count on community institutions that put people first and empower them to find financial success. Erie Federal Credit Union is one of those institutions.
Erie Federal Credit Union is a not-for-profit, member-owned financial cooperative that was founded and maintains operations right here in Erie, PA. Since 1936, we have fulfilled a very special mission to serve and provide benefit and value to over 79,000 members, our associates, and our community rather than Wall Street shareholders. Over 140 million Americans just like you rely on credit unions for financial services because of our people first approach.
Credit unions pay a host of federal, state, and local taxes, but because we reinvest profits back into our member-owners and the communities we serve, we do not pay federal income tax on profits. Focused on providing member benefits, earnings are returned to members through higher savings rates, lower loan rates, and fewer and lower fees. We are focused on people, not profits! The credit union tax status delivers a 1,300% return on investment that goes back into local communities, therefore, even people who are not credit union members benefit from having a credit union in their community.*
“It’s not about finding your voice; it’s about giving yourself permission to use your voice.”
~Kris Carr
While big banks operate solely for the profit and benefit of their shareholders, credit unions are owned by their members with a focus on serving them, regardless of financial status. This is the “credit union difference.” As illustrated below, credit unions maintain a much higher share of loans to households than both community and national Wall Street focused banks.
A tax on credit unions is a tax on you.
But there is a threat looming that would put credit unions at risk. The new Congress and administration are moving fast on tax reform, which could mean adding a new tax on credit unions and the members they serve, including you. The tax status is crucial to all credit unions’ survival and continued ability to serve people left behind by banks. As cooperatives, credit unions succeed when people come together. We are stronger when we advocate and act with one unified voice. And your help in protecting credit unions as a trusted financial partner is needed now more than ever.
Here is how you can help protect your credit union:
Please visit this site to take action!
(https://www.donttaxmycreditunion.org/). Simply click on the red “Take Action” button, fill in your contact information, and click on the red “Send Message” button at the bottom of the page. You have the option to add in your own story if you would like to personalize the message.
Thank you for your attention to this urgent request of members and for exercising your voice as a member-owner of Erie FCU. With your support, we will continue to do all that we can to best serve our members, associates and communities.
From all of us at Erie Federal Credit Union, we sincerely thank you for your continued patronage and ongoing support.
Together… we are stronger!!!
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:
Erie FCU Annual Meeting!
As a not-for-profit, member-owned credit union, we all benefit from the engagement and participation of our members. That’s why we’re inviting you to our 2025 Erie FCU Annual Meeting! Hear how the credit union is performing and all about the exciting things happening through the rest of the year!
Register Now and Save the Date!
Members will have the option to join the meeting virtually online or in-person.
Date/Time:
Monday, May 12, 2025 at 5:30 PM.
Location:
Glenwood Branch - Community Room at 3503 Peach Street, Erie PA.
Streamed:
Live via Zoom.
Registration is required. You can register anytime from now until May 10.
After registering, you will receive a confirmation email containing information about joining the webinar.
We’re Growing Together!
Erie FCU welcomes two new business lenders! Introducing Matt Feleppa and Paul Kruszewski.
Matt joins our business lending team with over 19 years of banking experience, most recently serving as Senior Commercial Lender/Relationship Manager/VP of Northwest PA districts for Farmers National Bank. A resident of Meadville, Matt will work out of our Edinboro, PA branch office.
Before coming to Erie FCU, Paul worked at Northwest Bank as a branch manager and business banker and brings his over 24 years of expertise to our newly expanded business lending department. Paul, an Erie native, will work out of our Glenwood branch office.
Matt and Paul will both serve Erie and Crawford Counties, PA and will be focused on building strong relationships with business owners while providing tailored financial solutions to meet their unique needs. This talent expansion is in direct response to the increasing demand for commercial solutions and to better serve the wide variety of businesses in our service area.
For more information about Erie FCU’s Business products and services, please contact 814-825-2436 or visit us online at: www.eriefcu.org/business-banking
Register at: https://www.eriefcu.org/annual-meeting
Matt Feleppa
Paul Kruszewski
Beginning April 2, 2025,
access to Erie FCU Card Manager for managing your credit card account will no longer be accessible outside of the Erie FCU Card Manager App or EZ Money Manager (EZMM).
This new enhancement is part of Erie FCU’s commitment to strengthening security, mitigating fraud and responding to market fraud trends.
Account-based takeover fraud – a form of identity theft when bad actors enroll using a consumer’s account to conduct financial crimes – is becoming increasingly sophisticated. The FTC has indicated a 49% rise in account takeover fraud reported in 2024 from 2021, resulting in consumers losing nearly $8.8 billion in 2024 alone. Across the board, digital applications are being targeted by fraudsters using a variety of tactics, including phishing, keylogging and sourcing compromised personal information via social engineering and from the dark web.
We are committed to protecting you in the fight against fraud.
Next steps to prepare for this enhancement:
If you are not currently enrolled in the Erie FCU Card Manager App or EZ Money Manager (EZMM), updating your access is easy.
Online Banking
Enroll in EZ Money Manager (EZMM).
Go to www.eriefcu.org.
Click on Online Access. Enroll.
Card Manager is accessible directly from the menu (under Services) inside EZ Money Manager.
Mobile Banking
Search for the Erie FCU Card Manager app from your device’s app store.
Download and install the Erie FCU Card Manager app.
Register within the app in order to manage your cards.
Home Equity Loan vs. HELOC
What’s the difference?
With the equity you’ve built up in your home over the years, you could be sitting on a lot of money! When you’re ready to put your home’s equity to work, you may be wondering which option is best for you – a home equity loan or a home equity line of credit (HELOC).
One of the most common misconceptions is that home equity loans and HELOCs can only be used for home improvements. These loans can be used for a variety of needs, including consolidating high-interest debt, financing a college education, buying a new car or taking a dream vacation.
Choosing the loan option that’s right for you starts with an understanding of equity. Equity is the difference between the value of your home and the remaining unpaid principal balance of your mortgage. For example, a home worth $250,000 with a principal balance of $100,000 remaining has $150,000 in equity.
So, what’s the difference between a home equity loan and a HELOC?
A home equity loan is a one-time loan for a fixed dollar amount, at a fixed interest rate, with a fixed term of repayment. This type of loan has a predetermined monthly repayment amount and an amortization schedule for up to 15 years. Home equity loans are great for specific, one-time purchases like a new car or a home remodeling project.
A HELOC is a variable-rate loan that can be drawn down, either all at once or at different times. You can borrow up to the credit line maximum, but you’ll only pay interest on the funds you use. For example, if you’re approved for a $50,000 equity line but only borrow $15,000 right now, you are only charged interest on the $15,000. Once you have repaid the amount borrowed, your credit line is fully renewed and available for borrowing again. Most HELOCs feature a 10-year draw period followed by a 15-year repayment period. HELOCs are a smart way to pay for recurring expenses like college tuition.
An Erie FCU mortgage loan specialist can help you determine whether a home equity loan or line of credit is the best option for you. For more information about home equity loans and lines of credit, visit www.eriefcu.com or stop by today!
ATTENTION: Card Manager Mobile App Users
During this transition, some debit and credit card features may be unavailable in the Erie FCU Card Manager app until the enhancement is complete. If you have further questions, please contact our member support at (814) 825-2436, Option 0, or email memberservices@eriefcu.org. 4 4 4 4 4 u u u
IMPORTANT UPDATE!
Starting May 1, 2025, all Shared Branching users must preload their state-issued driver’s ID into the IDCheck application before visiting a Participating Shared Branch location. Erie FCU understands it’s crucial to help protect you from account takeover fraud. That’s why we are introducing this new ID proofing measure. This new fraud prevention measure allows us to make certain it is YOU trying to access your account, not an imposter.
Protect Your Identity in a Flash...
If you bank at one of our Shared Branch locations, a teller can now identify and authenticate members with out-of-state IDs in the branch through a QR code and one-time passcode multi-factor authentication verification. This additional layer of authentication will be used for all transactions.
How it Works:
1. Scan the QR code located in the branch or use the one below.
2. Select your credit union’s name from a drop-down list.
3 Enter your member account number and the last four digits of your social security number.
4. Upload a photo of your ID.
5. Take a selfie.
• Tip: Save your validation for an even quicker experience next time!
6. Show your one-time passcode to the teller (passcode is valid for 20 minutes)
Erie FCU Security Tips
& News Website Page
Identity theft and fraud affects the lives of millions each year. With your personal info, criminals can open accounts, file tax returns, buy property and more. We believe cybersecurity begins with awareness, so we’ve partnered with Stickley on Security (SoS) to provide our members with the most relevant cybersecurity and fraud news information. Timely and helpful tips and news necessary to stay one step ahead of the fraudsters.
Feel free to browse the 2,000 plus comprehensive educational videos and written articles. SoS will provide the valuable assets and resources for you to become educated on how to spot and better protect yourself against fraud and cybersecurity risks. Make sure to sign up online for the newsletter to keep up on the latest security tips, news and breaches delivered weekly to your inbox.
Check it out at: www.eriefcu.org/resources/educational/security-tips-news
Here 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 am-4:30 pm Monday – Friday. The office is closed 1-1:30 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.
Saving our members money is what we do! Every 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.
Ready for Summer?
Summer fun is right around the corner and what better place to build those family memories than Waldameer Park and Water World. Find Member discounts on All-Day Combo Passes when you purchase online with our Erie FCU member code. Details at www.eriefcu. org/special-offers/waldameer-discounts-for-members
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
Get on Track for Retirement –
10 Smart Tips
1. Put as much money into your company’s 401(k) as you can. And, at the very least, contribute up to your company match. Otherwise, you’re throwing away free money.
2. If your company does not offer a 401(k) plan, open your own IRA (Individual Retirement Account).
3. Pay yourself first. Have money automatically deducted from your paycheck and invested for your retirement.
Many times, people put off saving for retirement, which can seriously set them back on retirement planning. While it’s always a good idea to have a trusted financial advisor with whom you can speak about your goals and progress, these 10 tips will get you started on the right track to saving enough for retirement.
Do not ever dip into your retirement savings, no matter what the excuse.
Set new priorities to spend less and save more – now. Sometimes this means selling a more expensive car and buying a cheaper one to cut back on your car payments, thus giving you more money to sock away.
Develop a retirement savings plan with the help of a financial advisor. It’s important to be realistic and know how much money you will need to live the lifestyle you want in retirement.
Invest your savings appropriately. Learn when to take on more risk and when to take on less.
Commit to saving more. Calculate the most you think you can put away for retirement, and then add 10% to that amount. That’s a big commitment, but well worth the reward.
9. Don’t “cash in” your retirement money when switching jobs as you’ll lose money to taxes and penalties. Instead, roll your money over to another plan or an IRA.
10. Start now! No matter how young or old you are, you don’t have time to waste. Starting to save immediately will get you on the right track for retirement that much sooner.
Skip-A-Pay* is available for an Erie FCU personal, auto, RV, boat, or motorcycle loan** and available thru your online banking. Certain restrictions apply.
How to skip via your Online Banking:
• 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!
How’s Your Credit?
Skip-A-Pay forms are available at any office or call today at (814) 825-2436 to get the process started.
*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.
We’re Celebrating Youth Month!
All through April, we’re “Celebrating Our Youth Month! Our goal is to set an example and inspire our young members to learn the importance of saving. Together, we’re encouraging young members to set a financial path early in life to develop solid saving goals for their future.
To reward good saving habits, all qualifying Treasure Club Kids Accounts (https://www.eriefcu.org/invest/investment-planning/youth-saving-options#features) opened in April will receive:
• An Erie FCU piggy bank to help your child save for their future
• A free pirate hat.
• With a deposit of $10 or more, your child can pick a treasure from the Treasure Club Treasure Box.
• We’ll deposit the $5 minimum membership requirement.
All new youth accounts opened in April will be entered for a chance to win an Erie gift basket worth $100*.
*Children 12 years and younger are eligible for a Treasure Club Youth account. Only Treasure Club Youth Accounts opened April 1, 2025 - April 30, 2025 are eligible for a chance to win an Erie gift basket worth $100 deposit with a qualifying deposit to their Treasure Club Kids Account. One winner will be chosen. Random drawing from all entries will be made May 1, 2025. One account per member/social security. Membership eligibility required. No Purchase Necessary. Rules subject to change.
I To help protect your identity and financial reputation, one of the smartest things you can do is check your credit report on a regular basis. Your credit report can affect anything from loan rates and credit card approvals to mortgage and insurance rates.
Thanks to a federal law, consumers can get a free copy of their credit report from each bureau once every 12 months by calling 1-887-322-8228, but they can also get a weekly credit report by going online at annualcreditreport.com. The three agencies are Equifax, Experian and TransUnion. If requesting yearly, we suggest spacing your requests evenly throughout the year by requesting a report from one of the three agencies every four months.
Be sure to check your credit report carefully each time you receive it and eliminate or correct any errors as soon as possible. A clean credit report will really pay off!
Financial Data as of February 28, 2025 Assets...................... $824,289,475
3503 Peach Street • Erie, PA 16508-2741
Office Locations & Hours of Operation
Drive Thru Hours:
38th Street Office 1109 East 38th St. Erie, PA 16504
Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM
Bayfront Office 1005 Greengarden Rd. Erie, PA 16501
Mon-Wed: 9AM-5PM • Thur-Friday: 9AM-6PM Saturday: 9AM-1PM
Buffalo Road Office 2436 Buffalo Rd. Erie, PA 16510
Fairview Office 7141 West Ridge Rd. Fairview, Pa 16415
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Drive Thru Hours: Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM
Lobby Hours
Important Information
Routing Number: 243380927
Website: eriefcu.org
E-mail: memberservices@eriefcu.org
E-Z Phone: 814.825.2436, Option 9
Toll Free: 800.480.0494
Lost/Stolen Debt & Credit Cards
Debit Mastercard® or ATM Card: 1.866.820.2868 (After Hours)
Mastercard® Credit Card: 1.866.611.4864 (After Hours)
Drive Thru Hours:
Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM
Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM
Edinboro Office 101 Washington Towne Blvd.
Edinboro, PA 16412
Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
State Street Office 518 State St. Erie, PA 16501
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
Erie FCU No Surcharge & No Fee ATMs
9AM-5PM • Thur-Friday: 9AM-6PM Saturday: 9AM-1PM Drive Thru Hours:
As an Erie FCU member, you can make withdrawals and deposits at our ATMs or Fast Branch/ATMs using your Erie FCU Debit Mastercard ® and you will not be charged a surcharge or Out-of-Network Fee. For a current listing of all ERIE FCU ATMs, visit www.eriefcu.org/atms
Lobby Hours
Mon-Wed: 9AM-5PM • Thur-Fri: 9AM-6PM Saturday: 9AM-1PM Lobby Hours Mon-Thur: 9AM-5PM Friday: 9AM-6PM Glenwood Office 3503 Peach St. Erie, PA 16508
Peach Street Office (Walmart Supercenter Peach & I-90 ) 1825 Downs Drive Erie, PA 16509
Mon-Tue: 9AM-5PM Wed-Thur: 9AM-6PM Friday: 9AM-7PM Saturday: 9AM-3PM
Zuck Road Office 5500 Zuck Rd. Erie, PA 16506
Lobby Hours
Mon-Thur: 9AM-5PM Friday: 9AM-6PM Saturday: 9AM-1PM
Memorial Day Monday, May 26, 2025 All offices will be closed Juneteenth Thursday, June 19, 2025 All offices will be closed