A perfect match

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 2
Moneyclips
save
I
learn
I dream
I
enjoy
I
balance I
live
A perfect match
Quadruple your down payment
on a home with Mortgage Match
PLUS FREE SEMINARS — TUITION ASSISTANCE — WEALTH MANAGEMENT TIPS — AND MORE!
TO DO LIST
1
Start the New Year off on the right
foot with a free financial
seminar. (page 4)
2
Be safe! Cut out our accident
information checklist and
keep it in your car. (page 7)
3
Filling out college applications?
Don’t forget your SEFCU
scholarship application, too.
(page 8)
4
5
Mark your calendar for
SEFCU’s Annual Meeting on
March 28. (page 14)
Check out the Home Show
nearest you and start
planning for spring
home improvements. (page 20)
20 Meet us at the Home Show!
Get some great ideas for your
next home improvement project
and learn about SEFCU financing.
W I N T ER 2 012
Issue Highlights
Get a jump start on a home
down payment with Mortgage
Match. (page 10)
6
Moneyclips
6
10
13
14
Road Smarts
A handy guide on what to do in case of an auto accident
A perfect match!
Sign up for Mortgage Match and watch your savings grow
Aging well
Proper financial planning is especially critical for women
Meet the candidates
All the information you need on SEFCU’s March Board elections and Annual Meeting
Lifestyle/Opportunities
5
Free seminar schedule
8
College scholarships available
12
Transferring money is a snap!
18
Cash in on Tuition Rewards
19
Smart Sense games and prizes
News
3
Message from the President & CEO
3
Upcoming holidays
3
Keep in touch! Update your contact information
8
Check out SEFCU’s new mobile apps!
9
Savings Bonds available online
9
Understanding electronic transfers
9
Safer Social Security
16 Community update
Moneyclips is
www.facebook.com/sefcu
www.twitter.com/sefcu
MESSAGE FROM THE PRESIDENT AND CEO
As we turn the calendar to a new year, many people
take this opportunity to evaluate where they’ve been and set
goals for the future. For some that includes setting weight
loss goals, for others it could mean making a commitment
to return to school, or even vowing to start volunteering.
SEFCU, not unlike many Americans, also evaluates where
we’ve been and where we’re going. This past year was a
good one for SEFCU – with the addition of mobile apps
and low loan rates that made members’ financial lives
a little bit easier. In addition, we have experienced rapid
member growth and are currently over 220,000. Our asset
base remains strong at more than $2.1 billion, and SEFCU
also earned the highest ratings from reviews conducted by
our regulators and auditors. Thanks to you, SEFCU was
voted the “Best Bank/Credit Union” in the Capital Region
by Times Union readers, the “Locals Choice Award”
winner with Saratoga.com/Saratoga Today, and the
“Readers Choice Award” winner with The Saratogian.
In terms of our dedication to serving the community,
2011 was a great year. SEFCU members contributed
more than 7,000 volunteer hours and SEFCU employees
donated more than 17,000 hours to non-profits throughout
Albany, Syracuse, Binghamton, and Buffalo. Members and
employees answered the call for volunteers and stepped up
to assist friends and neighbors affected by Tropical Storms
Irene and Lee. Our Holiday Sharing Program set an all
time record with more than $75,000 collected, allowing the
credit union to make the holidays brighter for even more
families in need.
If you’ve already made a resolution for 2012 I hope you’re
sticking with it. If you haven’t, I encourage you to get
Keep in touch!
SEFCU wants to be able to let you know about special offers,
great rates, and upcoming promotions, so make sure your
contact information is current. If you have recently moved or
have a new phone number or e-mail address, please let us know!
To update your e-mail or mailing address, log into SEFCU
OnLine and click on the “Member Options” or “Online Forms”
tabs. Or, just call the Member Solutions Center at 518-452-8183
or 800-727-3328, or visit any branch.
SEFCU’s president and CEO, Michael Castellana, stands with
young volunteers during SEFCU’s holiday wrapping event.
involved in your community and make volunteering your
goal for this year. Join SEFCU’s community efforts and
volunteer or participate in some of our events planned for
2012. E-mail [email protected] to get started.
Thank you for your continued patronage of SEFCU. You
have made our cooperative a stronger financial institution
and allowed us to support our communities. On behalf of
everyone at SEFCU, thank you for choosing SEFCU as
your financial institution, and best wishes for a happy and
healthy 2012. I welcome your comments at moneyclips@
sefcu.com.
Federally insured by the NCUA
Michael J. Castellana
President & CEO
Upcoming holidays
Most SEFCU branches and the
Member Solutions Center will be closed
in observance of the following holidays:
Martin Luther King, Jr. Day* Monday, January 16
Presidents’ Day* Monday, February 20
*Slingerlands and Glenville Price Chopper
branches will be open on this holiday
operating under Saturday hours.
MONEYCLIPS
WINTER 2012 3
E D U CATI O N U P C O M I N G S EM I N A RS
Winter seminars
A Guide to the Home Buying Process
Join us for an introduction to the home buying process from
start to finish.
College Financial Aid: What Students and Parents
Need to Know
Learn about money for college – grants, scholarships and
loans – and how to apply for student financial aid through
the FAFSA. Presented by representatives from the New York
State Higher Education Services Corporation and financial
aid professionals.
f
Getting Out of Debt
Hear the warning signs of credit trouble, get realistic tips for
reducing debt, and learn strategies for building a better credit
report.
Introduction to Investing*
Why do people invest? For a rainy day, for a brighter future,
for their children, or retirement? Whatever the reason, this
seminar will help you get started.
Not NCUA Insured
Not Credit Union Guaranteed
May Lose Value
Not a Credit Union Deposit
Not Insured by Any Federal Government Agency
*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.
Prospectuses which contain details about the investment
objectives, risks, charges and expenses as well as other
important information about investing in mutual funds and
variable annuities, will be available at the seminar. You
should carefully read and consider this information before
investing.
Variable Annuities are suitable for long-term investing, such as
retirement investing. Withdrawals prior to age 59 may be subject to
tax penalties and surrender charges may apply. Variable Annuities
are subject to market risk and may lose value.
4 MONEYCLIPS WINTER 2012
f
Getting a Loan: A Banker’s Perspective
Have you ever wondered what the loan process entails?
Get an inside look from a banker’s perspective on what
information is used to determine a loan decision and learn
how to get the best interest rate possible for you.
Making Your Company Green Certified
Certify your business as green! Learn about tools, tips, and
resources for operating as environmentally and socially
responsible as possible.
Managing Finances After Retirement
Attend this seminar and listen as Scott Dillon from Tully
Rinckey PLLC discusses strategies to help stretch your
retirement dollars.
Protecting Yourself from Identity Theft
This seminar outlines common scams and provides tips about
what you can do to make sure you don’t become a victim of
identity theft.
Recovering From a Financial Crisis
Get realistic strategies for rebuilding savings and reducing
debt resulting from a financial crisis.
Retirement Plans for Small Business*
Choosing among the various retirement plans available can
be confusing. Learn about our retirement plan options and
how each one may affect you and your employees.
f
Capital Region
Capital Region seminars will be held at the Dora
Maxwell Auditorium at SEFCU Headquarters,
700 Patroon Creek Boulevard, Albany, unless
otherwise noted. 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.
January 24
Getting Out of Debt
6 p.m. – 7:30 p.m.
January 25
Managing Finances After Retirement
6 p.m. – 7:30 p.m.
February 8
Recovering From a Financial Crisis
6 p.m. – 7:30 p.m.
February 15
College Financial Aid: What Students and Parents
Need to Know
6 p.m. – 7:30 p.m.
February 16
Introduction to Investing*
6 p.m. – 7:30 p.m.
March 14
Protecting Yourself from Identity Theft
6 p.m. – 7:30 p.m.
March 21
Retirement Plans for Small Business*
6 p.m. – 7:30 p.m.
E D U CATI O N U P C O M I N G S EM I N A RS
Syracuse
Syracuse seminars will be held at the Cicero branch,
8086 Brewerton Road, unless otherwise noted.
Directions are available at sefcu.com.
February 2
A Guide to the Home Buying Process
5 p.m. – 6:00 p.m.
February 8
College Financial Aid: What Students and Parents
Need to Know
4 p.m. – 7 p.m.
By appointment only. This seminar will be held at the
Jobs Plus office, 677 South Salina Street, Syracuse.
February 29
Making Your Company Green Certified
5:30 p.m. – 7:00 p.m.
Binghamton
Binghamton seminars will be held at the Vestal
branch, 3460 Vestal Parkway, unless otherwise
noted. Directions are available at sefcu.com.
January 23
Getting Out of Debt
6 p.m. – 7:30 p.m.
March 27
Protecting Yourself from Identity Theft
6 p.m. – 7:30 p.m.
Buffalo
Buffalo seminars will be held at the Amherst branch,
3155 Niagara Falls Boulevard, unless otherwise
noted. Directions are available at sefcu.com.
February 16
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 it hasn’t been cancelled due to inclement
weather or circumstances beyond our control.
Getting a Loan: A Banker’s Perspective
6 p.m. – 7:30 p.m.
March 22
Protecting Yourself from Identity Theft
6 p.m. – 7:30 p.m.
MONEYCLIPS
WINTER 2012 5
SOLUTIONS
ACCIDENT PROTECTION
Road
smarts
Be prepared
No one likes to think about auto
accidents, but the truth is they do
happen. The key is to know what
do to in the event that you are in
an accident and how you can make
sure you are physically and
financially protected.
DID YOU KNOW? You can
get a free insurance quote from
SEFCU Insurance Agency by calling
518-786-9905 or 888-250-6689, or
visiting sefcuinsuranceagency.com.
6 MONEYCLIPS WINTER 2012
SOLUTIONS
Accident information
In addition to reporting the accident, it’s important to make sure you gather the
necessary information so your insurance company can assist you. Make a copy of this
page and leave it in your car so you have it handy in the event of an accident.
Date of accident:
ACCIDENT PROTECTION CHECKLIST
CHECKLIST
Here is a checklist of things you’ll
need to take care of at the scene
of an accident, as well as what
information you need to gather.
Time of accident:
Location:
your car and find out if
q Stop
anyone is injured.
Weather conditions at time of accident:
Other carWitnessES
Driver’s name: 1. Name:
9-1-1 and report the
q Call
accident. Be sure to include
how many people were hurt
and the types of injuries.
Address: Address:
City and State: City and State
Driver’s license number:
2. Name:
Owner’s name: Address:
Phone number: City and State:
Address: City and State: Car registration (number and State):
Year and make of car:
Parts damaged:
injured people with a
qCover
blanket.
Try to protect the accident q
scene. Take reasonable steps to protect your car from further damage by setting up flares and/or moving your vehicle off the road.
Insured by:
Ask the police officer where q
you can get a copy of the Damage to other property
Owner’s name:
Address:
City and State:
Persons injuredPolice Investigation
Name: Officer’s name:
Address: Badge number:
City and State: Headquarters:
police report if you don’t receive one at the scene.
If necessary have your car q
towed to a repair shop.
notes of what happened, q Keep
the time and date, and get the names of possible witnesses.
See the form at left.
Name:
Address:
City and State:
Accident description
agency
MONEYCLIPS
WINTER 2012 7
S E F C U N E W S A N D I N F O R M AT I O N
College connection
Scholarships available to SEFCU members
With the cost of college tuition rising, paying for higher
education is getting more and more difficult. To take some
of the burden off families, SEFCU is offering a number of
scholarships to students planning to attend a two- or four-year
public or private college next fall.
Smart Sense Scholarship
Available to high school seniors, this award provides $1,000
to students who have a strong academic record and have
demonstrated a commitment to their community through
volunteerism.
Rensselaer Polytechnic Institute, Skidmore
College, University at Albany, University at
Buffalo
This one-time award is available to students
planning to attend Rensselaer Polytechnic
Institute, Skidmore College, the University
at Albany, or the University at Buffalo. One
$1,000 scholarship will be awarded per
college or university to a high school senior
planning to attend in the fall. Applicants
must have a strong academic
record and demonstrate a commitment to
their community through volunteerism.
Robert Berroyer Memorial Scholarship
Established in memory of Robert Berroyer, a
former SEFCU Board Member, this $2,500 onetime award is available to students graduating from
La Salle Institute. Applicants must have a strong academic
record and demonstrate a commitment to their community
through volunteerism.
John Ilacqua Memorial Scholarship
In memory of John Ilacqua, a former SEFCU Board Member,
this $2,500 one-time award is available to one high school
senior planning to attend Siena College. Applicants must have a
strong academic record and demonstrate a commitment to their
community through volunteerism.
Jean L. Myers Memorial Scholarship
Created in memory of Jean Myers, a former SEFCU Board
Member, this award is available to one high school senior
graduating from South Colonie Schools. This one-time
scholarship provides $2,500 to a student who has a strong
academic record and demonstrates commitment to his or her
community through volunteerism.
Dr. Carmen M. Cornute Memorial Scholarship
To be eligible for this $2,500 award, the applicant must be
pursing an advanced degree in Nursing or Social Sciences
in an accredited program (advanced degree as defined by
credentialing agency appropriate to the field of study)
and provide evidence of involvement in extracurricular
volunteer/community service,
and/or career-related
activities.
To request an application, e-mail marketing@
sefcu.com or call 518-451-2897. Include your name
and address in the body of the message and the name of
the scholarship in the subject line. Hurry! The application
deadline is January 20, 2012.
We’ve got an app for that
Need to bank on the go? If you have an iPhone®, iPad®, or
Android® device, SEFCU has free mobile banking apps
for you. With SEFCU’s mobile apps you can make
transfers, check account balances, and find a branch near you quickly and conveniently right
from your phone. Ready to get started? Download your app today by visiting sefcu.com/apps.
8 MONEYCLIPS WINTER 2012
S E F C U N E W S A N D I N F O R M AT I O N
Safer Social
Security
If you currently receive paper Social
Security checks each month, as of
March 1, 2013, you’ll be required to
have your check directly deposited
into a bank or credit union account.
Don’t worry! It’s easy to switch and
is safe and more convenient than
receiving a paper check.
Savings Bonds available online
To make buying a Savings Bond even more convenient, now you can purchase them
quickly and conveniently online.
Recently, the U.S. Department of the Treasury announced that Savings Bonds are no
longer available for purchase at banks and credit unions, but can be purchased securely
online at www.treasurydirect.gov. Paper bonds can still be redeemed at any
SEFCU branch.
To learn more about SEFCU’s savings options, visit sefcu.com.
SEFCU Text Banking is here!
Banking by phone just got easier! Now, SEFCU members can receive account balances
and request transfers via text messages. Sign up for SEFCU's Text Banking by logging into
SEFCU OnLine and clicking on "Mobile Banking & Alerts" to get started. Once you enter
your mobile phone number you'll receive a text message within a few minutes so you can
complete the enrollment process. Best of all, SEFCU doesn't charge for the service, but
check with your service provider to see if message and data rates apply to your plan.
SEFCU's Text Banking is quick, convenient, and secure. Take advantage of this new service.
Log on to SEFCU OnLine to get started!
Understanding electronic transfers
Have you ever tried to make an electronic withdrawal* to another account or third party
and been denied? Here’s why. A Federal Regulation (Regulation D) limits you to a
maximum of six electronic withdrawals and transfers from a savings account per month.
Want to avoid this inconvenience? Open a Really Free Checking account at SEFCU and
make as many transfers from your account as you like.
Log onto SEFCU OnLine to open a checking account, visit any branch, or call the
Member Solutions Center at 518-452-8183 or 800-727-3328.
* Defined as telephone, ACH, bill payment, or SEFCU OnLine-initiated transaction.
What are the benefits
of direct deposit?
With direct deposit, there aren’t
any checks to be lost or stolen so
you and your money are safe. Plus,
you’ll always get your benefit on
time, even if you are out of town,
sick, or unable to make a deposit.
How will I know
the money is in my
account?
Your money will be deposited on
the day you’re scheduled to receive
your benefit. For example, if you
usually receive your benefit on the
third of the month, your money
will be available to you first thing
on the third. You can check your
SEFCU account balance via SEFCU
OnLine, DIAL, via mobile app or
text message, through the Member
Solutions Center, or at any branch.
How do I sign up for
direct deposit?
If you already have a SEFCU
checking or savings account,
complete a direct deposit form
and return it to the nearest Social
Security office. Or, call Social
Security at 1-800-772-1213.
Visit www.ssa.gov/deposit
to learn more. Get started with
direct deposit at SEFCU by going
to sefcu.com.
MONEYCLIPS
WINTER 2012 9
S O L U T I O N S Q U A D R U P L E YO U R S AV I N G S W I T H M O R T G A G E M AT C H
A perfect
match
If you’re in the market for a new home,
Mortgage Match might be just what you need to
save enough for a down payment. Find out how
you can enroll in this program and quadruple
your savings toward a new home.
If you’re a first-time homebuyer, with Mortgage Match you’ll
earn $4 for every $1 you save — up to a maximum match of
$7,500 — to use toward your down payment and/or closing costs.
4:1 odds guaranteed
How does it work? When you enroll in Mortgage Match, you make
regular deposits (at least $20 per month) into a Mortgage Match
account for a period of 10 to 24 months. You’ll also need to attend
free seminars on finance and homeownership to help you learn
how to budget and pay bills. At the end of the savings period, you’ll
receive a match from the Federal Home Loan Bank that is equal to
$4 for every $1 you saved.
Affordable housing options
Contact an organization near you to learn more about eligibility and
affordable housing options, and to find out when upcoming home
buying seminars are being held. A listing of resources is on the
opposite page.
Mortgage Match is a great way to get you into your first
home. Get started today by visiting the Mortgage Center
on sefcu.com or call SEFCU Mortgage Services at 518783-1234 or 800-444-6313.
Get a free homeowner’s insurance quote from SEFCU
Insurance agency. Call 518-786-9905 or 888-250-6689 or
e-mail [email protected].
10 MONEYCLIPS WINTER 2012
Capital Region
Affordable Housing Partnership
255 Orange Street, Albany
518-434-1730
www.ahphome.org
Albany County Rural Housing
Alliance, Inc. (ACRHA)
P.O. Box 58, Faith Plaza, Ravena
518-765-2425
www.acrha.org
Consumer Credit Counseling of
Central NY, Inc.
5794 Widewaters Parkway, Syracuse
315-474-6026
www.CreditHelpNY.org
Home Headquarters, Inc.
124 East Jefferson Street, Syracuse
315-474-1939
www.homehq.org
Belmont Housing
1195 Main Street, Buffalo
716-884-7791
www.belmonthousingwny.org
Homefront
560 Delaware Avenue, Suite 101,
Buffalo
716-856-2952
www.homefrontbflo.org
Binghamton
Troy Rehabilitation & Improvement
Program (TRIP)
15 River Street, Troy
518-690-0020
www.triponline.org
Consumer Credit Counseling Center
49 Court Street, Binghamton
607-723-2671
www.CreditHelpNY.org
Ithaca Neighborhood Housing
Services 115 West Clinton Street,
Ithaca
607-277-4500
www.ithacanhs.org
Syracuse
Buffalo
MONEYCLIPS
WINTER 2012 11
SOLUTIONS TRANSFERRING MONEY MADE EASY
Transferring money to
your student is a snap!
Sending a child to college can be stressful, but making sure
your student has enough money doesn’t have to be. SEFCU
has a number of solutions to make managing money – for both
of you – quick and easy.
SEFCU OnLine
If both you and your student have SEFCU accounts,
transferring money between accounts is easy. Just request to
have your accounts linked and you can transfer money right
to your son or daughter’s account with just a few clicks. Best
of all, the transfer is immediate and you don’t have to worry
because account information and balances remain hidden
from members not listed on the account.
POPMoney
If you have an account at another financial institution and
would like to transfer money to your son or daughter from that
account, POPMoney can make it happen. Check to see if your
bank or credit union offers this convenient option. Standard
transfers take three business days, but an express option is
available for next day transfers.
Mail a check
It may seem old fashioned, but depending on your situation it may
be the quickest way to get money to your student – especially if
he/she studies at a college/university with a SEFCU branch on
campus (University at Albany, Skidmore College, Rensselaer
Polytechnic Institute, and the University at Buffalo). Once your
son or daughter receives the check he/she can stop by the branch
and deposit it or cash it for immediate money.
Wire transfer
You can wire money to your student’s SEFCU account by visiting
your financial institution. With a wire transfer you can transfer
money into your son or daughter’s account, but your financial
institution may charge you a hefty fee. SEFCU does not charge
for incoming wire transfers, but check with your bank or credit
union to find out how much outgoing wire transfers will cost you.
Regardless of where your child attends college, SEFCU
offers a number of ways to get him or her money quickly
and conveniently. To learn more about SEFCU’s program for
college students, Campus Connect, visit sefcu.com or stop
by any branch.
sealed
with a kiss
12 MONEYCLIPS WINTER 2012
W E A LT H M A N A G E M E N T F I N A N C I A L P L A N N I N G F O R W O M E N
Aging well
Proper financial planning is especially critical for women
A key goal of investing for retirement is making sure you save
enough to make your money last throughout your lifetime. The
current life expectancy of a female is almost 81 years, compared
with 75 years for a male. Although six years may not appear
significant, many people in this age group incur expenses for
health care and other items while living off of Social Security and
personal assets.
Since life expectancy statistics are averages and many people live
much longer, it is not unusual for an individual’s retirement to last
20 or 30 years or more. There is also the issue of the length of
a person’s career and how much time an individual has to build
retirement assets. Many women take time off for care giving
responsibilities, and during these years they may not add to their
retirement portfolio.
of ongoing contributions to retirement accounts to build assets
over time. Although there are no guarantees, the longer you
invest, the more likely that your contributions may benefit
from compounding, when investment gains are reinvested and
potentially earn even more over time.
Be sure to consider how you will pay for health care expenses not
covered by Medicare or other medical insurance. If you find that
your retirement assets are coming up short, delaying retirement or
saving more while you continue to work may be helpful strategies.
SEFCU’s financial advisors can help you calculate how much you
are likely to need for your later years. Call today to schedule a noobligation consultation at 518-862-1250 or 800-727-3328, option 6.
Source: Center for Disease Control, National Center for Health
Statistics
In addition, time off from work may affect Social Security benefits
because those who are not working do not earn credits that are
used to determine retirement benefits. Also, parents, children,
and other loved ones often have financial needs, and both women
and men may provide help for family members, which may divert
funds from retirement savings.
Estimating how much you’ll need
Of course, every woman’s life is unique and many women
capitalize on the benefits available to them, including participating
in an employer-sponsored retirement plan or funding an IRA,
to build the assets needed for their later years. It’s important not
to underestimate how much you may need or the importance
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.
If you’re not a current client of SEFCU Wealth Management Services, then give us a call to find out what
you’re missing! To schedule a free consultation, please call 800-727-3328, option 6.
MONEYCLIPS
WINTER 2012 13
SEFCU NEWS ANNUAL MEETING AND BOARD ELECTIONS
Annual Meeting
slated for March
SEFCU members are invited to attend
the 2012 Annual and Membership
Meeting at 6 p.m. on Wednesday,
March 28, 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. A brief member reception will
conclude the event.
Advance reservations and proof
of membership are required for
attendees. Reservations can be made
by calling 518-451-2895 or e-mailing
[email protected].
Board elections set
The Nominating Committee has
selected five individuals to stand for
re-election to the SEFCU Board of
Directors. There are five three-year
terms to be filled. Nominating petitions
on behalf of members seeking election
to the Board of Directors will be
accepted until February 13, 2012.
If there are additional candidates, an
election of the Board of Directions will be
conducted by ballot. In this case, eligible
members will be able to vote prior to the
Annual Meeting on March 28.
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: 700
Patroon Creek Boulevard, Albany, NY
12206.
14 MONEYCLIPS WINTER 2012
VINCENT W. COLONNO
Credit Union Experience
Mr. Colonno has been involved in credit
unions since 1980, when he was instrumental
in organizing the Albany County Federal
Credit Union (ACFCU). In 1985, ACFCU
merged with RENSCO where he served as a
Director. RENSCO then merged with SEFCU
and in 1992 Mr. Colonno was appointed
an Associate Director of SEFCU. He was
elected a full Director in 1994. He has served
as Chair of both the Volunteer Education and
Selection Committees and as a member of the
CEO Compensation/Evaluation Committee.
Mr. Colonno, who is Vice Chairman of the
Board, currently serves on the Asset Liability
Management Committee and as the Chairman
of the CEO Compensation/Evaluation
Committee. In 1995 he was the recipient of
SEFCU’s “Volunteer of the Year” Award.
Professional Experience
Mr. Colonno is the Chief Executive Officer
of Catholic Charities of the Albany Diocese.
Prior to that, he was the Commissioner of
the County of Albany, Department of Social
Services. Previously, he was the Commissioner
of the County of Albany, Department of Aging
and served as the Deputy Commissioner of
the County of Albany, Department of Social
Services. Mr. Colonno is currently an adjunct
professor at the State University of New York/
Empire State College.
Educational Experience
Mr. Colonno holds a Master’s Degree in
Public Administration from the Sage
Colleges Graduate School, a Bachelor’s
Degree in Human and Community
Services from the State
University of New York/
Empire State College,
and an Associate’s
Degree in Business
Administration
from the Junior College
of Albany.
MARY WARR COWANS
Credit Union Experience
Ms. Warr Cowans began her
volunteer service with SEFCU
in 1994, was appointed an
Associate Director in 2005,
and subsequently to the Board
of Directors in September
2006. She has served on the
Supervisory, Bylaws and
Governance Committees
and currently serves on the
Asset Liability Management
Committee.
Professional Experience
Ms. Warr Cowans is currently
retired after 35 years of New
York State service where she
most recently served as the
Associate Director, Division
of Nutrition at the New
York State Department of
Health. Ms. Warr Cowans is a
Registered Dietitian, member
of the American Dietetic
Association, and a New York
State Certified Dietitian/
Nutritionist.
Educational Experience
Ms. Warr Cowans earned
a Bachelor of Science from
Cornell University and has
a Master’s Degree from
Syracuse University.
S E F C U N E W S M E E T T H E B O A R D C A N D I D AT E S
Meet the candidates
JUDY DELONG
Here's an overview of the five incumbents running for
re-election to the SEFCU Board of Directors this year.
Credit Union Experience
Ms. DeLong has been active
with SEFCU’s Board of
Directors since 1990 and
became an Associate Director
in 1997. She has served on
the Supervisory, Selection/
Nomination, Bylaws and
Governance Committees. In
2003 she was the Chair of
the Selection/Nomination
Committee. She currently
serves on the Policy Review
Committee. To fill a vacancy,
Ms. DeLong was appointed
to the Board of Directors in
September 2006.
KENNETH C. HAHN
Professional Experience
Ms. DeLong is retired
from the New York State
Department of Social Services
where she worked as a Child
Protective Specialist.
Professional Experience
Mr. Hahn retired as a Civil
Engineer II for the New York State
Department of Transportation, at the
State Campus in Albany.
Educational Experience
Ms. DeLong earned a
Bachelor of Arts in Sociology
and a Master of Science in
Counselor Education from the
State University of New York
at Plattsburgh.
Credit Union Experience
Mr. Hahn has been on the Board of
Directors since 1985. He was Board
Vice Chairman from 1990 to 1993
and was elected Chairman in 1994
and served in that capacity until
2005. He has served on numerous
Committees: Compensation,
Executive, Annual Meeting, Asset
Liability Management (Chair),
CEO Compensation/Evaluation,
Communications, Investment,
Human Resources, Nominating
(Chair), Policy (Chair), Technology,
Computer, Dedication, Delinquency,
and Budget.
Educational Experience
Mr. Hahn received a Bachelor of
Science in Civil Engineering in 1968
and studied Public Administration at
the State University of New York’s
Rockefeller College from 1983 to
1985.
TIMOTHY J. JENNINGS
Credit Union Experience
Mr. Jennings has been an Associate Director on
SEFCU’s Board of Directors since 2002 and is
currently the Chair of the Supervisory Committee.
To fill a vacancy, Mr. Jennings was appointed to the
Board of Directors in September 2006.
Professional Experience
Mr. Jennings retired from The Research Foundation
of State University of New York in 2011. Prior
to his retirement, Mr. Jennings was the Assistant
Vice President for the Foundation’s Finance Office
where he managed the Foundation’s insurance and
risk management program. In his prior professional
experience, Mr. Jennings held positions in notfor-profit hospitals, credit unions, and a research
related entity. Mr. Jennings is a Certified Public
Accountant and since 1985 has been a member
of the American Institute of Certified Public
Accountants and the New York State Society of
Certified Public Accountants.
Educational Experience
Mr. Jennings holds a Masters in Business
Administration and a Bachelor of Science in
Accounting from the State University of New
York at Albany, and an Associate’s in Business
Administration from Corning Community College.
MONEYCLIPS
WINTER 2012 15
B A N K I N G W I T H A P U R P O S E C O M M U N I T Y U P D AT E
community
SEFCU’s Community Support Program kicked into full swing this fall. From community
events to holiday fundraising, volunteers were hard at work throughout the Capital Region,
Binghamton, Syracuse, and Buffalo.
SEFCU spirit brightens the holidays
Although the wrapping paper and bows have all been put away,
SEFCU helped ensure that hundreds of individuals throughout
the Capital Region, Syracuse, Binghamton, and Buffalo enjoyed a
happy holiday season.
Each year, as part of SEFCU’s Holiday Sharing Program,
employees, volunteers, and Board members made donations,
volunteered their time to shop and wrap gifts, and hosted parties to
make the holidays joyous.
Visit sefcu.com and click on “Community” to learn about what
events you can get involved in.
The Music Mobile was one of eight non-profits to win a $2,500
grant at this fall’s SEFCU Community Expo.
SEFCU hosts Community Expo
This fall, SEFCU held its fourth Community Expo at the
SEFCU Arena. The event, which brings together non-profit
organizations and the general public, highlighted the importance
of volunteerism and helped match individuals with volunteer
opportunities.
At the event, SEFCU awarded $2,500 grants to eight randomly
selected non-profits. Recipients included:
• Big Brothers Big Sisters of the Capital Region
• Capital District Women’s Employment & Resource Center
• Empire Servicedog Program, Inc.
• Food Pantries for the Capital District
• Music Mobile
• Northeast Kidney Foundation
• Ronald McDonald House Charities of the Capital Region
• Sexual Assault/Crime Victims Assistance Program
16 MONEYCLIPS WINTER 2012
SEFCU volunteers kicked off the 2011 Holiday Sharing Program by wrapping hundreds of gifts for families in need throughout
the state.
MONEYCLIPS
WINTER 2012 17
MEMBER BENEFITS TUITION REWARDS
Cash in on Tuition Rewards
Sign up and earn points toward paying for college
Whether you have a young child in your family or a teenager
planning for college in the next few years, SEFCU’s Tuition
Rewards is a great way to save for college expenses.
How does it work?
SEFCU has partnered with SAGE (Savings and Growth for
Education) to offer a convenient way to help offset college costs.
With Tuition Rewards you can earn “points” toward tuition at
more than 275 colleges and universities across the United States.
Enroll the young people in your life (including your own children
as well as grandchildren, nieces, nephews, godchildren, cousins,
etc.) in Tuition Rewards before their junior year of high school
begins.
Once enrolled, balances in your SEFCU accounts – including
checking, all savings accounts, and Share Certificates – will be
added together. Each quarter you’ll receive “points” to use toward
tuition equal to 1.25% (5% annually) of your asset balances.
Each point equals $1 that can be used to pay for tuition (room
and board is not included). Points are applied and used equally
over a four-year education at participating private colleges. The
earlier you start, the more points you accumulate.
For a list of college and universities that accept Tuition Rewards points, visit sefcu.com. Enroll in Tuition Rewards by visiting sefcu.com or at any branch. Best of all, each eligible student will receive a 1,000 point sign-up bonus when registered for the first time.
18 MONEYCLIPS WINTER 2012
S M A R T S E N S E G A M E S A N D G I V E A W AY S
A-mazing fun!
The snowman is waiting for his Smart Sense birthday card. Can you help
him find his way through the maze to get to the mailbox?
T
FINISH
T
START
You could be a winner!
Register for a drawing to win* a $100 iTunes® gift card.
If you have a Smart Sense account at SEFCU, here’s your chance to win a $100 iTunes® gift card. Fill out this entry blank and drop it off at any branch or mail it by March 30, 2012 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 2012 19
MONEYCLIPS
W I N T E R 2 012
MoneyClips is a quarterly newsletter published
for the benefit of SEFCU members.
Member Solutions Center 518-452-8183 • 800-727-3328
Administration
518-452-8234 • 866-733-2880
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
L I F E S T Y L E A B E A U T I F U L H O U S E S TA R T S AT T H E H O M E S H O W
Meet us at the
Home Show!
If you’re looking for home improvement
ideas or need financing for your remodeling
project, SEFCU will be at home shows
across the state. Stop by and visit our
booth and find out what loan is right
for you!
The Great Northeast Home Show
February 10-12
Times Union Center and Empire State Plaza, Albany
Buffalo Home Show
March 9-11 & 16-18
Buffalo Niagara Convention Center
Southern Tier Home Builders and
Remodelers Association
March 10-11
Broome County Arena, Binghamton
Home Builders and Remodelers
of Central New York
March 15-18
New York State Fairgrounds, Syracuse
20 MONEYCLIPS WINTER 2012
Patroon Creek Corporate Center
700 Patroon Creek Boulevard
Albany, NY 12206
PRESORTED STANDARD
U.S. POSTAGE
PAID
SARATOGA SPRINGS NY 12866
PERMIT #426