We`re celebrating!

T IPS A N D T R EN D S F R O M SE F C U W IN T E R 2 0 1 4
Moneyclips
save
I
learn
I dream
I
enjoy
I
balance I
live
We're
celebrating!
On our 80th anniversary, a look back
at how things have changed
PLUS FREE SEMINARS — TA X TIPS — INSURANCE SAVINGS — ANNUAL MEETING INFO — AND MORE!
Moneyclips
W I N T E R 2 014
Issue Highlights
7
Preparation can take the stress out of taxes
9
Get your house ready to sell
15
Is your financial strategy right for you?
Tips for keeping tax season as painless as possible
The right home improvements can boost your asking price
SEFCU Wealth Management Services answers your questions
Lifestyle/Opportunities
10 Celebrating
80 years of SEFCU
A look back at the credit
union's history and a nod
to the future
4
Winter seminar schedule
6
Save now for next year's holiday expenses
6
Check out SEFCU Text Banking
6
Stop by the Home Show
7
Earn Preferred Points with Visa® purchases
12
Bundle and save on insurance costs
13
iTeller on-the-Go just got better!
18
19 SEFCU student loan packages
Smart Sense
News
3
Message from the President & CEO
3
Holiday closings
16
Annual meeting set for March
16 Meet the candidates
20
Community update
Moneyclips is
www.facebook.com/sefcu
www.twitter.com/sefcu
MESSAGE FROM THE PRESIDENT AND CEO
The old adage that
time flies is certainly true! It’s
hard to believe we are saying
goodbye to 2013 and hello to
2014. We are excited on many
fronts to be ringing in the
New Year, as it brings new
beginnings and marks SEFCU’s
80th anniversary of serving
members’ financial needs.
Although we come from
humble roots, a small group
of people around a dining
room table decided to form a
credit union to serve New York
State employees in the Capital
Region, since 1934 we have
expanded our footprint not only
here in the Capital Region but
also in Binghamton, Syracuse,
and Buffalo. We have become
SEFCU President and CEO Michael Castellana, far right, joins Board Member Richard Cross and
one of the largest credit unions
Ashley Castellana wrapping gifts for families in need during SEFCU's Holiday Sharing event.
in the country with members
in every state and also serve members in nearly 50
We have a number of special events, promotions, and
countries around the world.
giveaways planned throughout the upcoming year. I
hope you’ll take part in our celebration as we look back
And while we remain committed to providing financial
at where we’ve been and look ahead to the next 80
products and services complete with outstanding member
years. Take a look at pages 10 and 11 in this edition of
service, we have also pledged to support those in our
MoneyClips as we kick off SEFCU’s 80th anniversary
neighborhoods who need our help through financial
celebration.
contributions and volunteerism. We were “raised” on
the credit union philosophy of “people helping people”
Enjoy reading this issue of MoneyClips. On behalf
and our employees over the past 80 years have taken it to
of everyone at SEFCU, thank you for choosing us as
heart. From volunteering their time to making monetary
your financial institution. As always, I welcome your
donations to simply lending a helping hand, all 800
comments at [email protected] or follow me on
SEFCU employees are dedicated to making a difference
Twitter@castellana_.
in the lives of others.
Michael J. Castellana
President & CEO
All SEFCU branches and the Member Solutions Center will be
closed in observance of the following holidays.
Smart Sense puzzle answers from page 19:
credit, savings, money, deposit, loans, dollars, cents, account
Final puzzle: Happy Anniversary, SEFCU!
Holiday closings
Martin Luther King, Jr. Day* l Monday, January 20
Presidents’ Day* l Monday, February 17
*Slingerlands and Glenville Price Chopper branches will be open on
this holiday operating under Saturday hours.
Federally insured by NCUA
MONEYCLIPS WINTER 2014 3
E D U C AT I O N U P C O M I N G S E M I N A R S
Winter seminars
●
Bending the Health Insurance Cost Curve –
Beyond the Affordable Care Act
Dave Ball, SEFCU Insurance Agency insurance benefits
specialist, will provide an overview of the Affordable Care Act,
including its current status and pending mandates. He will also
discuss simple plan design strategies that reduce premium costs
and effective steps for creating an action plan.
●
Defensive Driving
Attend this Department of Motor Vehicles-approved Defensive
Driving workshop and get a refresher on safe driving tips and an
overview of today’s vehicle and traffic laws. When you complete
the course you may be eligible to remove as many as four points
from your driving record and receive a 10% reduction on your
car insurance. The cost of the class is $25 for members and $35
for non-members. Please bring cash or a check for payment on
the day of the class. Lunch will be provided.
●
Estate and Wealth Transfer Strategies
Richard Rowlands and James LeBrou from Rowland and
LeBrou will discuss transfer and gifting strategies as well as the
importance of estate planning.
●
Get Financially Fit
Balancing life and your budget can be tricky. Jenny Brannon,
SEFCU’s Manager of Member Education, will provide realistic
options for successfully cutting back on spending, trimming your
monthly expenses, and saving toward specific goals.
● How Will Managed Care and ObamaCare
Affect Your Estate and Long-Term Care Planning?
Join Bill Pfeiffer from the Girvin and Ferlazzo law firm to learn
about the new changes in health care and managed care. Find
out how these new changes will impact your future plans.
●
Managing Your Credit and Protecting
Yourself from Identity Theft
This seminar offers the basics of credit such as who reports your
payment information, understanding your credit score, and
●
good versus bad credit. We will discuss simple strategies to help
repair bad credit and effective ways to build good credit. Also
learn what you can do to make sure you don’t become a victim of
identity theft.
●
NYS Taxpayer Financial Forum
Learn about services provided by the government and
organizations to assist state taxpayers. You will hear from the
NYS Department of Taxation and Finance, NYS Office of
Temporary and Disability Assistance, NYS Department of State
Consumer Protection Division, the Internal Revenue Service,
Child Care Coalition, SEFCU, The Legal Project, Inc., and
Albany Law Clinic. Speakers will share information on free
tax preparation services, consumer advocate services, benefit
programs, and fraud prevention.
●
Small Business 101
Learn the basics of starting your own small business, what it
takes to get your business online with different Website options,
and effective ways to market your business through social media.
●
Starting and Growing Your Small Business
(Binghamton)
If you're considering starting a small business or have already
started one, this seminar features a panel of experts, including
a representative from SCORE who will address the basic
fundamentals of business ownership. Experts include a small
business attorney, tax accountant, and an economic development
representative on small business grants and loans to businesses.
●
Starting and Growing Your Small Business
(Syracuse)
If you are considering starting a small business or already have
one, this forum presented by the Onondaga County Economic
Development Office helps match businesses with appropriate
resources, including grants and loans. A representative from
Tech Garden will also talk about how to develop a business plan,
access angel investments, and make connections with mentors.
Business Series: QuickBooks 101
QuickBooks™ is the leading accounting software utilized by small business owners across the country. The QuickBooks 101 class, offered
by the NYS Small Business Development Center, is designed to assist new users of the software with initial setup, entering transactions, and
generating financial reports. The interactive program will be offered over the course of three weeks with three progressive classes:
Class 1: Getting Started and Setup — February 19 • 8:30 a.m. to 11:30 a.m.
Basic functions of QuickBooks software • Basic accounting principles • Understanding the importance of lists in QuickBooks
Class 2: Working with Accounts and Entering Transactions — February 26 • 8:30 a.m. to 11:30 a.m.
Setting up bank accounts • Recording sales • Recording deposits • Entering and paying bills and expenses
Class 3: Generating Financial Reports, Tracking Payables and Receivables — March 5 • 8:30 a.m. to 11:30 a.m.
Overview of reports • Using QuickBooks to track and pay vendors, invoice and track time, and invoice and track customer receivables
The cost is $99 for all three sessions. When you register, you are registering for all three sessions. It is strongly recommended that you attend
all three sessions for the maximum benefit of the training. Reservations are required. See seminar reservations information on the next page.
4 MONEYCLIPS WINTER 2014
E D U C AT I O N U P C O M I N G S E M I N A R S
JAN
FEB
MARCH
Capital Region
SEMINAR INFO Reservations are required
for all seminars and can be made by calling
518-464-5321 or 866-733-2880 x5321,
or online at sefcu.com. Please visit
sefcu.com the day of the seminar to make
sure the seminar hasn’t been cancelled due
to inclement weather or circumstances
beyond our control.
Capital Region seminars will be held at the Dora Maxwell
Auditorium at SEFCU Headquarters, 700 Patroon Creek
Boulevard, Albany. Directions to the Dora Maxwell Auditorium
are available at sefcu.com or by calling the Member
Solutions Center at 518-452-8183 or 800-727-3328.
● Tuesday, January 28
Get Financially Fit
6 p.m. – 7:30 p.m.
● Wednesday, February 5
NYS Taxpayer Financial Forum
6 p.m. – 8 p.m.
● Saturday, February 8
Defensive Driving
9 a.m. – 3 p.m.
Buffalo
The following seminars will be held in the Jacobs
Management Center Lecture Hall on the University at
Buffalo's North Campus.
● Thursday, February 6
Managing Your Credit and Protecting Yourself from Identity Theft
5:30 p.m.– 6:30 p.m.
● Wednesday, February 12
Bending the Health Insurance Cost Curve – Beyond
the Affordable Care Act
6 p.m. – 7:30 p.m.
● Wednesday, February 19
QuickBooks Class 1
8:30 a.m. – 11:30 a.m.
● Tuesday, February 25
How Will Managed Care and ObamaCare Affect Your
Estate and Long-Term Care Planning?
6 p.m. – 7:30 p.m.
● Wednesday, February 26
QuickBooks Class 2
8:30 a.m. – 11:30 a.m.
● Wednesday, March 5
QuickBooks Class 3
8:30 a.m. – 11:30 a.m.
● Tuesday, March 25
Estate and Wealth Transfer Strategies
6 p.m. – 7:30 p.m.
● Thursday, March 6
Small Business 101
5:30 p.m.– 6:30 p.m.
Binghamton
● Tuesday, March 4
Starting and Growing Your Small Business
6 p.m. – 7:30 p.m.
This seminar will be held in the Exhibit Room at the Broome County Public Library, 185 Court Street, Binghamton
Syracuse
● Thursday, February 13
Starting and Growing Your Small Business
5 p.m. – 6:30 p.m.
This seminar will be held at SEFCU’s Midler branch,
107 Simon Drive.
MONEYCLIPS WINTER 2014 5
S E F C U N E W S A N D I N F O R M AT I O N
Text 4 UR Bal
● If you didn’t even blink
when reading the headline of
this article then SEFCU’s Text
Banking is just what you need
to make transfers, check your
account balance, and view recent
transactions.
Save now for next year’s
holiday expenses
● The packages are opened and
celebrations are over, but for some the holidays will last
well into 2014 in the form of monthly credit card bills to
pay off holiday purchases. Instead of making the same
mistake again next holiday season, open a SEFCU Holiday
Club account and save for next year’s gifts all throughout
the year.
Plan ahead. With a SEFCU Holiday Club account
you can add to it at any time during the year, in branch,
through direct deposit or payroll deduction, or with
SEFCU OnLine. Savings will accumulate throughout the
year and on October 1 your Holiday Club balance will
be transferred into your SEFCU Checking account so
you can get a jump start on holiday shopping.
Start today! Take some of the stress out of next
year’s holiday season. Open a Holiday Club
account via SEFCU OnLine, at any branch, or
by calling the Member Solutions Center at
518-452-8183 or 800-727-3328.
Did you know? Saving just $10
a week in your Holiday Club
account will give you more than
$500 at the end of the year?
Text Banking is simple to use.
First you need to enroll via SEFCU
OnLine. Log in and click
on “Mobile Banking &
Alerts” and then enter
your cell phone number.
You’ll be asked to select
a primary text banking
account (usually
your checking account) and a
funding account (many people choose a savings account).
Once you complete these easy steps you can text “bal”
or “last” to 454545 and you’ll receive a return text with
your account balance or the last five transactions on your
account.
Text Banking is completely free (though carrrier rates may
apply) so get started today and your account information is
never more than a text away.
Stop by the Home Show!
● Looking for home improvement ideas before
spring? Stop by the Times Union Home Expo February
7-9 at the Times Union Center & Empire State Plaza
in Albany to talk to contractors, plumbers, roofing
companies, landscapers, and more! Then, visit
SEFCU’s booth #135 to find out how you can get
the financing you need to make your dream a
reality this year.
Friday, February 7
3 p.m. – 9 p.m.
Saturday, February 8
10 a.m. – 7 p.m.
Sunday, February 9
10 a.m. – 5 p.m.
6 MONEYCLIPS WINTER 2014
S E F C U N E W S A N D I N F O R M AT I O N
Earn Preferred Points
with every Visa® purchase
● In addition to the convenience
of using a SEFCU Visa Platinum Credit Card to pay for
purchases online or at your favorite retailers, you can also
earn Preferred Points every time you use your card!
With SEFCU’s Preferred Points program you earn one
Preferred Point for each dollar you spend. Preferred Points
can be redeemed for travel, entertainment, electronics,
jewelry, and so much more. Points automatically
accumulate each time you use your card so there’s no
program to sign up for or specific places you can earn
points. To check your balance or redeem points, log into
SEFCU OnLine and click on “Additional Services” and
then “Preferred Points.”
Don’t have a SEFCU Visa Platinum Credit
Card? Apply for one online at sefcu.com, at any
branch, or by calling the Member Solutions Center
518-452-8183 or 800-727-3328.
Preparation can take
the stress out of taxes
To make an appointment to prepare your tax returns, please
call 518-451-2893. For a complete list of FSA and Volunteer
Income Tax Assistance (VITA) sites, visit www.irs.gov.
● Filing your income taxes may mean
If you plan to hire a tax preparer, the New York State Tax
Department offers these tips to keep in mind:
• Confirm the fees in advance
• Make sure your return will be e-filed
• Ask if the preparer will represent you if you are audited
• Never sign a return that is incomplete, incorrect, or that you don't
understand
• Make sure the preparer signs your return and includes his/her
identification number provided by the IRS
• Keep a copy of the return for your records
• Have your refund deposited directly into your financial institution
account or choose the Tax Department’s debit card. Do not have
your refund deposited into an account that is controlled by the
preparer.
refunds for some, but it can also mean paying someone
to prepare your taxes. The IRS estimates that hiring a tax
professional to prepare your income tax return will cost
you, on average, $250.
Good news! The New York State Tax Department will
launch a new, free Web File program this year. As a
result, 85% of New Yorkers can electronically file their
income tax returns for free. E-filing is fast, secure, and
the quickest way to get your refund!
Need help preparing your taxes? You may be eligible to have
an IRS-certified volunteer right in your community prepare
your income tax return for free. For more information, visit
www.tax.ny.gov and enter keyword “volunteer.”
If you’d like to prepare your 2013 federal and state tax returns
for free, and earned less than $57,000 annually, check out
SEFCU-sponsored Free Self-Assisted (FSA) Tax sites.
FSA sites will be held January 21 through April 15, Tuesdays
from 10 a.m. to 2 p.m. and Saturdays from 9 a.m. to 12 p.m.
at the following locations:
For more information visit www.tax.ny.gov.
*Adapted with permission from the New York State Tax Department.
Planning to prepare your own taxes?
Access TurboTax through your SEFCU
OnLine account.
• Hoosick Road branch, 256 Hoosick Road, Troy
• SEFCU Square, 469 State Street, Schenectady
• Park South branch, 16 New Scotland Ave., Albany
MONEYCLIPS WINTER 2014 7
S O LUTIO N S GE T YOUR H OUSE RE ADY TO SELL
8 MONEYCLIPS WINTER 2014
SEFCU Mortgage Services
Get your house
ready to sell
● In a 2012 survey of real estate agents, almost
90% said home improvements can help sell a house
faster, and nearly 73% felt home improvements could
boost the sales price — if the right improvements are
done.
Since most of us have a limited supply of time and
money, figure out how to best invest yours to get your
home ready for sale. Here are some tips to help you
maximize your money.
Declutter. Agents will tell you that clutter eats
equity. Descend on your bulging closets and storage
areas. Decide what to keep, toss, recycle, or donate to
charity. Same with the knickknacks, family photos, and
souvenirs. Pack them up and move the boxes out of the
main part of the house.
Clean. That means every nook, cranny, and corner.
Buyers don’t like to buy other people’s dirt.
Paint. It makes a huge difference in a room’s
appearance. Neutral colors are best. Most buyers want to
be able to move right in without having to immediately
tackle redecorating and repairs.
Home
improvements
could boost
the sales price
— if the right
improvements
are done.
Carpeting. Install new carpet if yours is worn or
outdated. Again, neutral colors are best.
Research before remodeling. Don’t assume a
new kitchen or bathroom will boost your home’s sales
price enough to recoup the costs. It depends on what’s
happening in your market so make sure you check it out
before you start demolition work.
Get an inspection. Consider getting a professional
home inspection before you put your house on the
market. You’ll avoid nasty surprises and added stress
when you’re in the midst of sales negotiation deadlines.
If you’re in the market for a new home, start by
contacting a mortgage originator at SEFCU Mortgage
Services. Our experienced professionals are available to
help you every step of the way throughout the mortgage
process. Call us today at 518-783-1234 in the Capital
Region, 315-701-1390 in the Syracuse region, or toll free
at 800-444-6313 to get started!
621 Columbia Street Ext., Cohoes, NY 12047 and
200 Salina Meadows Parkway, North Syracuse, NY 13212
Licensed Mortgage Banker - New York State Department of Financial Services
NMLS Company ID – 309847
MONEYCLIPS WINTER 2014 9
H A P P Y A N N I V E R S A R Y ! C E L E B R AT I N G 8 0 Y E A R S O F S E R V I C E
Celebrating
avera
pricesg*e
the n a n
d now
80 years of service
A
lot has changed in 80 years. From modern medicine to technological
advances, our culture has become fast-paced and thrives on having
information at our fingertips (literally) through the use of smartphones
and tablets and readily-available Internet access. But, one thing
that has remained the same over the past eight decades is SEFCU’s
commitment to serving members and the communities where we’re located.
Throughout 2014, we’ll be celebrating our 80th anniversary in branches, with online
contests, by making community donations, and so much more. Most importantly, we’ll
remember our humble roots and our members who have supported our mission and
allowed us to become the credit union we are today.
If you can’t remember back to 1934 when SEFCU was established, check out just how
much has changed over the years!
$51,017
*as of november 30, 2013
Average
salary
$1,600
14
20
1934
on
gall as
g
of
1934
2014
n
lo a s
l
ga f g
o
8
.4
3
$
$.10
1934
new
car
$625
10 MONEYCLIPS WINTER 2014
2014
new
car
$30,303
As you can see, SEFCU has come a long
way since it was established 80 years ago
and history has helped shape the financial
services industry into what it is today. Now, we enjoy
instant account access and loan decisions, branches
throughout our communities, and numerous ways to
contact us for questions.
We wouldn’t be where we are today without you – our
members. So thank you for choosing SEFCU and for
allowing us to serve your needs for the past 80 years. We
look forward to carrying on the credit union philosophy of
“people helping people” by assisting you with your financial
needs. Please join us this year as we celebrate our 80th
anniversary!
SEFCU: Then a nd Now
Number of members
Assets
Loans
19342014*
436297,978
$9,700 $2.67 billion
$13,000 $1.47 billion
Branches1
Employees0
46
803
*2014 numbers as of november 30, 2013
1934
gallon
of milk
$.45
2014
gallon
of milk
$3.43
2014
1934
new
house
new
house $234,500
$5,970
1934
2014
loaf
of
bread
loaf
of
bread
$.08
$1.41
MONEYCLIPS WINTER 2014 11
SAVI N G S B U N D LIN G IN SUR A N CE C O U LD GE T YO U DISC O U N TS
agency
SEFCU Insurance Agency offers
Homeowners insurance
Condo and renters insurance
Auto insurance
Motorcycle insurance
Life insurance
Boat and RV insurance
Personal Umbrella insurance
Vacation and Rental Home insurance
Antique car insurance
Collectible insurance
SEFCU INSURANCE AGENCY
Bundle and save on insurance costs
J
ust like buying in bulk or when stores offer
discounts for buying multiple items of the
same kind, SEFCU Insurance Agency (SIA)
can offer you savings on your premium
when you purchase multiple lines of insurance
products (auto, homeowners, motorcycle, etc.).
Protecting your home, auto, valuable possessions,
and personal belongings is important. When you
choose SIA to handle all of your insurance needs,
you could save as much as 25% on your premiums.
Our licensed agents will work closely with you to
find the insurance coverage for your specific needs.
Find out if you are getting the best pricing
possible. Ask an SIA representative to review your
current coverage to see if you can bundle your
policies to help you save money and increase
your coverage. Call 888-250-6689 or visit
www.sefcuinsuranceagency.com for your free
quote today!
When you choose SIA to handle all of your insurance needs,
you could save as much as 25% on your premiums.
12 MONEYCLIPS WINTER 2014
C O N V E N I E N C E i T E L L E R O N -T H E - G O E N H A N C E M E N T S
iTeller on-the-Go
just got better!
L
ike the convenience of depositing checks into your
SEFCU account just by taking a picture with your
smartphone? SEFCU recently made some
changes to enhance iTeller on-the-Go for added
convenience.
Increased deposit limit
SEFCU has established three different tiers for iTeller onthe-Go users to determine deposit limits. Now, members
who previously could only deposit up to $250 daily may
deposit up to $1,000.
Access your funds sooner
Because we realize quick access to your cash is important,
now deposits made using iTeller on-the-Go will be
processed two times each day Monday through Friday,
excluding holidays. Deposits made before 11 a.m. will be
available in your account by 12:30 p.m. and deposits made
by 4 p.m. will be available by 6 p.m.
Ready to get started
using iTeller on-the-Go?
If you already have the SEFCU
mobile app installed on your
iPhone® or Android®, make
sure you have the most recent
version. Don’t have the app? Get
it by visiting the Apple Store or
Google Play.
How much can you deposit?
SEFCU has established three different tiers for iTeller users
to determine deposit limits. Find out where you fall below.
Tier 1:
If you are a member in good standing for at
least 90 days and have a SEFCU Checking
account, use SEFCU OnLine, and have
at least a $500 Personal Line of Credit
or Home Equity Line of Credit, you can
deposit up to $10,000 daily using SEFCU’s
iTeller products.
Tier 2:
If you are a member in good standing for at
least 90 days and have a SEFCU Checking
account, use SEFCU OnLine, and have
any SEFCU loan (other than a Personal
or Home Equity Line of Credit) you can
deposit up to $5,000 daily using SEFCU’s
iTeller products.
Tier 3:
If you are a member in good standing for at
least 90 days and have a SEFCU Checking
account and use SEFCU OnLine, you can
deposit up to $1,000 daily using SEFCU’s
iTeller products.
MONEYCLIPS WINTER 2014 13
W E A LT H M A N A G E M E N T I S Y O U R F I N A N C I A L S T R AT E GY R I G H T F O R Y O U ?
14 MONEYCLIPS WINTER 2014
WEALTH MANAGEMENT SERVICES
Is your financial strategy
right for you?
R
egardless of where you are in the retirement
planning process, it’s important to
occasionally step back to evaluate your
current strategy to ensure that it will help
you save the money you need to live the life
you desire. Since there are a number of factors that can
change over a lifetime, it’s important to find a professional
whom you can trust to help you make the right financial
decisions.
The financial advisors at SEFCU Wealth Management
Services have dedicated their careers to helping clients
effectively pursue their financial goals. Each financial
advisor works closely with individuals and families to
build a comprehensive plan that seeks to meet today’s
needs and prepare for tomorrow.
It’s important to occasionally step back to
evaluate your current strategy, to ensure that it
will help you save the money you need to live
the life you desire.
During the past few years, even amidst economic
uncertainty, we have focused on our clients’ individual
needs, placing their best interests first, and have remained
true to our philosophy that trust, honesty, and integrity
are keys to building a strong financial foundation for our
clients. This approach has benefited our clients, and we
can offer this same personalized service and unbiased
guidance to you.
Whether you are overdue for a financial checkup or
want a second opinion on how you can protect and grow
your wealth today and beyond, call SEFCU Wealth
Management Services at 518-451-2948 to schedule a free,
no-obligation consultation. It would be our pleasure to help
you create thoughtful, personalized financial strategies for
you and your family.
Not NCUA Insured
Not Credit Union Guaranteed
May Lose Value
Not Insured by Any Federal Government Agency
Not a Credit Union Deposit
*Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates.
SEFCU and SEFCU Wealth Management Services are not registered broker/dealers and are not affiliated with LPL Financial. Advisory services
offered through LPL Financial, a registered Investment Advisor.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a
qualified tax advisor.
MONEYCLIPS WINTER 2014 15
SEFCU ANNUAL MEETING
SEFCU Annual
Meeting set
for March 19
SEFCU members are
invited to attend the
2014 Annual Membership
Meeting at 6 p.m. on
March 19, 2014, at
SEFCU Headquarters,
700 Patroon Creek
Boulevard, Albany.
Immediately following
the Annual Meeting a
special session will be
held to consider the
expulsion of members
who have caused SEFCU
a monetary loss.
Advance reservations
and proof of membership
are required for attendees.
Reservations can be
made by calling
518-451-2895 or e-mailing
[email protected].
Meet the
candidates
● The Nomination Committee
has selected four individuals
to stand for re-election for three-year terms on the SEFCU Board of Directors.
Nomination petitions on behalf of members are accepted until February 3, 2014.
If there are additional candidates, an election of the Board of Directors will be
conducted by ballot. Eligible members may vote prior to the Annual Meeting
on March 19, 2014. At least 500 SEFCU member signatures are required on a
nominating petition. Petitions must be accompanied by a signed certificate from
the nominee agreeing to the nomination and to serve if elected to office.
Petition forms and certificates can be obtained from the Board Secretary.
Nominees should include a brief statement of their qualifications and
biographical information. Nominating petitions should be sent to the SEFCU
Board Secretary at 700 Patroon Creek Boulevard, Albany, NY 12206.
Peter D. Komarinski
Credit Union Experience
In 1985 Mr. Komarinski became
a volunteer member of the Credit
Committee and later served on the
Technology and Asset/Liability
committees. He was appointed as
Associate Director and Chair of the
Supervisory Committee in 1993. In
1994 he was elected as Director and
has served as Vice Chair of the Board
of Directors, Chair of the Governance
Committee, and Pension Trustee.
Professional Experience
Mr. Komarinski is the Principal
Consultant of Komarinski &
Associates, LLC, a biometric
identification consulting company.
He is retired from the NYS Division
of Criminal Justice Services where
he worked with the Statewide
Automated Fingerprint Identification
System (SAFIS) and other emerging
identification technologies. He has
been active in the field of criminal
16 MONEYCLIPS WINTER 2014
justice for more than 30 years. He has
lectured and authored a book on these
topics and remains professionally
active on several national and
international identification policy
committees.
Educational Experience
Mr. Komarinski has a Master’s
Degree from the University at Albany
School of Criminal Justice.
M E E T T H E C A N D I D AT E S
Ron Rock
Credit Union Experience
Mr. Rock has been a member of
the SEFCU Board of Directors
since 1988. He has also served as a
member of the Credit Committee,
Asset/Liability Committee, Budget
Committee, Nomination Committee,
Strategic Planning Committee,
Volunteer Search Committee, and
Chair of the CEO Compensation
Committee. He was elected to serve
as Chairman of the Board in April
2005 and he continues to serve as the
Chair.
Sheri L. Scavone
Credit Union Experience
Ms. Scavone has been a member
of the SEFCU Board of Directors
since 2006 and has served on the
Nomination Committee. She currently
serves on the Community Support
Committee.
Professional Experience
Ms. Scavone has had a career
providing and administering health
and human services in both Western
New York and the Capital Region.
Leonard Smith, Jr.
Credit Union Experience
Mr. Smith has been a member of the
SEFCU Board of Directors since
1984. He was appointed Secretary
of the Board of Directors in 1997.
Previously, he held the position of
Assistant Secretary/Treasurer. In
addition to his service on the Board,
he has served on several committees
including Delinquency, Human
Resources, Strategic Issues, Asset/
Liability, Supervisory, and CEO
Compensation.
Professional Experience
After a career spanning 30 years with
the New York State Department of
Transportation, the Division of the
Budget and the Governor's office as the
Assistant Secretary for Transportation,
Mr. Rock retired as the Deputy Director
of the New York State Division of the
Budget. He currently is employed by
the law firm of Brown & Weinraub in
the field of Government Relations.
Educational Experience
Mr. Rock received a Bachelor of
Arts Degree in Political Science
from Syracuse University in 1975
and pursued graduate studies from
Syracuse’s Maxwell School of
Citizenship and Public Affairs.
Educational Experience
A Western New York native, Ms.
Scavone earned a Bachelor of
Science in Physical Therapy from
Russell Sage College, a Master of
Science from the Rochester Institute
of Technology Executive Leader
Health Systems Administration
program, and a post-graduate
certificate in Palliative Care from
the Institute of Palliative Care of
The Sage Colleges.
Professional Experience
Mr. Smith retired from the Structures
Division of the New York State
Department of Transportation where
he was employed for 35 years.
Educational Experience
Mr. Smith received an Associate’s
Degree in Liberal Arts from Hudson
Valley Community College in 1966
and an Industrial Labor Relations
Degree from Cornell University in
1979.
MONEYCLIPS WINTER 2014 17
S O L U T I O N S S E F C U S T U D E N T LOA N PAC K AG ES
STUDENT FINANCING
Take some of
the sting out of
paying for college
C
ollege costs are rising each year and some
families are scrambling to make tuition
payments. With SEFCU’s student loan
options, we can take some of the stress out of
financing a college education. Below is a quick overview.
Rate options
Fixed or variable rates
Minimum loan amount
$2,000
Maximum loan amount
$30,000 (based on credit
qualifications)
Repayment terms
• Interest-only payments while
student is enrolled (at least
half-time) in school
• Interest-only payments
will continue during the six
months following graduation
(or separation from school)
• Principal and interest
payment for the remaining
term of loan
Other requirements
• Applicants must meet
SEFCU loan guidelines.
• Proof of enrollment at
accredited college/university.
• Student must maintain a
GPA of at least 2.0.
18 MONEYCLIPS WINTER 2014
SEFCU’s student loans are a good option to fill the
funding gaps that federal aid and scholarships can leave
behind. And, our variable rate is very competitive and
can help your son or daughter achieve his or her dream
of higher education.
Get a head start and apply for your student loan today!
Visit sefcu.com, call the Member Solutions Center at
518-452-8183 or 800-727-3328, or stop by any branch.
smart sense game and pri z e
Celebrating 80!
SEFCU is marking its 80th year serving the community. That calls for a cheer! Unscramble each of
the clue words below. Take the letters that appear in the
boxes and unscramble those for the final
message. Answers are on page 3.
RTDIEC
AVSGNIS
MOENY
DEPOITS
SALNO
LOARDSL
TSENC
TOCCUNA
H
P
Y,
SEFCU SMART SENSE
You could be a winner!
F
!
FPO
Register for a drawing to win* a $100 Barnes & Noble Gift Card.
If you have a Smart Sense account at SEFCU, here’s your chance to win
a $100 Barnes & Noble Gift Card. Fill out this entry blank and drop it
off at any branch or mail it by March 31, 2014 to: SEFCU Marketing,
700 Patroon Creek Blvd., Albany, NY 12206.
Member Name
Member Number
Phone Number
E-mail Address
*SEFCU employees and their immediate families are not eligible. Open to Smart Sense
members only. If you have more than one Smart Sense member in your family, photocopies
of this entry form are acceptable. One entry per person.
MONEYCLIPS WINTER 2014 19
MONEYCLIPS
W I N T E R 2 0 14
Patroon Creek Corporate Center
700 Patroon Creek Boulevard
Albany, NY 12206
MoneyClips is a quarterly newsletter published
for the benefit of SEFCU members.
Main Number 518-452-8183 • 800-727-3328
DIAL Automated Phone Svc. 518-452-2874 • 800-733-2848
SEFCU Insurance Agency 518-786-9905 • 888-250-6689
SEFCU Mortgage Services 518-783-1234 • 800-444-6313
Website www.sefcu.com
b anking with a purpose community support update
BUFFALO
Holiday and
community spirit
alive at SEFCU
As part of SEFCU’s Community Support Program,
SEFCU employees and volunteers from all our regions
were busy last month celebrating the season by shopping
for and wrapping gifts for less fortunate families.
SYRACUSE
ION
CAPITAL REG
BINGHAMTON
PRESORTED STANDARD
U.S. POSTAGE
PAID
SARATOGA SPRINGS NY 12866
PERMIT #426