TIPS AND TRENDS FROM SEFCU SUMMER 2016

TIPS AND TRENDS FROM SEFCU
SUMMER 2016
MONEYCLIPS
save
I
learn
I dream
I
enjoy
I
balance I
live
PLUS FREE SEMINARS — LIFE INSURANCE — BACK-TO-SCHOOL BANKING — SCHOLARSHIP WINNERS
— AND MORE!
MONEYCLIPS SUMMER 2016
1
MONEYCLIPS
15 Be ready for
back-to-school
Find out the best ways to
bank from campus, and
sign up for a chance to win $500 for textbooks
S U M M ER 2 016
Issue Highlights
8
How does “total wealth management” work for you?
SEFCU Wealth Management takes a look at the big financial picture
9
Shop smarter to save on insurance
Bundling your insurance policies may be the key to savings in the long run
10
Car sweepstakes could put you in the driver’s seat
12
Why I Care: Sonia Galan and Marylou Borowiak
14
Millennials want small, affordable homes
Don’t miss out on the SEFCU Car Sweepstakes!
Two women who take volunteering to heart
SEFCU Mortgage Services offers financing
18SEFCU brings banking to school
Good habits start with SEFCU’s Smart Sense School Banking Program
Lifestyle/Opportunities
4
8
Summer seminar schedule
Leave a larger benefit to those you love
19
Smart Sense game and giveaway
News
3
6
16
Message from the President & CEO
News and information
SEFCU Scholarship winners
20
SEFCU voted “Best Bank/Credit Union”
Moneyclips is
Holiday closings
All SEFCU branches and the Member Solutions
twitter.com/sefcu
Center will be closed in observance of the following
holiday:
Labor Day | Monday, September 5
Hope
to see you
at the2016
Labor Day 5k!
2 MONEYCLIPS
SUMMER
facebook.com/sefcu
MESSAGE FROM THE PRESIDENT AND CEO
SEFCU President and CEO Michael Castellana was recently inducted
into the Tech Valley Business Hall of Fame. He was accompanied to the
ceremony by his reading buddy Irvin, a student at Arbor Hill Elementary
School.
one-on-one tutorial about any of SEFCU’s convenient
services like our award-winning Mobile app, Text
Banking, iTeller on-the-Go, and more.
Our efforts in the community are a top priority and even
though the lazy, hazy days of summer may be upon
us, SEFCU remains committed to raising money – and
awareness for important causes in our communities.
■ Thank you! SEFCU was recently voted the
“Best Bank/Credit Union” in the Times Union Readers’
Poll for the 10th straight year! We are proud to receive
this acknowledgement and grateful for the support of our
more than 330,000 members. While this is the 10th year
we have received this honor, I promise that we don’t take
it for granted and will continue to work even harder to
exceed your expectations.
As the smoke from the last of the Fourth of July fireworks
settles, SEFCU is pleased to announce a new loan
program coming soon that will offer reduced fees, lower
loan rates, and other savings opportunities for active
military members and veterans who selflessly served the
red, white, and blue. While we can never truly repay them
for the sacrifices they’ve made, this is one way we can
express our gratitude.
As digital and mobile technology continues to advance
at a rapid pace, SEFCU looks for new, better, and more
convenient ways for you to manage your finances. This
spring we released Samsung Pay which allows you to
add your SEFCU MasterCard ® to a Mobile Wallet and
then pay for purchases using your Samsung smartphone.
To get members comfortable using some of the newer
technology we offered a free “Tech Day” in some of
our branches where members could stop by and get a
In Binghamton, we are once again the premiere sponsor
of the Chris Thater Memorial Races, an event that honors
the life of Chris Thater, a young man killed by a drunk
driver and reminds people about the danger of drinking
and driving. The education efforts are paying off. Since
2008, drug and alcohol-related crashes in Broome
County have been cut in half.
In the Capital Region, we are busy preparing for our 28th
Annual Labor Day 5k Race. Runners and walkers can
lace up their sneakers and get ready to participate in this
great event. Watch for registration information on
sefcu.com coming soon and your chance to vote to
determine who gets the proceeds from this year’s race!
As the cost of college tuition continues to rise, SEFCU
remains committed to easing the burden for students by
making a direct investment in their education. This spring,
the credit union presented $54,500 in scholarships to
students who not only demonstrate strong leadership
skills and are excellent students, but those who have
made volunteerism an integral part of their life.
Enjoy reading this issue of MoneyClips. As always I
welcome your comments at [email protected] or
follow me on twitter @castellana_. On behalf of everyone
at SEFCU, thank you for choosing us as your financial
institution.
Michael J. Castellana
President & CEO
Federally insured by NCUA
MONEYCLIPS SUMMER 2016
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
Summer seminars
■ Alternative Solutions to Long-Term Care
Join Sheila Cervera, certified long-term care specialist and
Susan Suben from Long Term Care Associates, Inc., to review
new planning options for long-term care expenses and decide
what is best for you and your family.
■ Are You Social Security Savvy?*
When it comes to retirement income, Social Security plays an
important role. Find out how you can maximize your Social
Security benefits, learn the benefit rules you need to know, and
more! Please join us for this educational seminar as we discuss
these options and much more.
■ Building a Strong Financial Future: Strategies
for Age 45 to Retirement*
Join us as we discuss retirement savings needs, how to
estimate Social Security benefits, and the impact of inflation.
We will also focus on different asset allocation strategies as
well as estate planning considerations and new tax rules.
■ Making Your Nest Egg Last – Strategies for
JULY
AUG
SEPT
■ Protecting Your Assets from Nursing Homes
You have worked your entire life to accumulate your assets
so find out how you can protect them from the high costs of
health care. Join James LeBrou and Terry Greismer from the
Rowlands and LeBrou Law Firm and find out how you can
protect everything you worked so hard to earn.
■ Teens and Money
In this session, teens will learn the importance of budgeting,
organizing bill payments, and setting financial goals.
■ Understanding Reverse Mortgages
Home Equity Conversion Mortgages (HECMs), also known as
Reverse Mortgages, help Americans age 62 and older convert
a portion of their home equity into tax-free funds. Reverse
Mortgages are insured by the Federal Housing Administration
and allow seniors to stay in their home and achieve retirement
security. Our seminar will discuss common scenarios to
take advantage of a Reverse Mortgage, the payout options,
closing costs, and the new guidelines put in place by HUD to
strengthen the program and protect the borrower.
Sustainable Income in Retirement*
The risks for retirees are well-known – but you may find some
of the specifics interesting or perhaps even startling. As your
retirement date approaches, it’s important to explore what
these risks might mean to you and how you might address
them.
■ Pension Maximization*
Planning on retiring? Learn how to maximize your pension
and protect your loved ones with the use of life insurance.
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 broker/dealer. The LPL representatives associated with this website may discuss and/or transact securities business only with
residents of the following states: CA, CT, FL, MA, ME, NC, NJ, NY, PA, UT, VA, and WI.
700 Patroon Creek Boulevard, Suite 301, Albany, NY 12206
and 200 Salina Meadows Parkway, North Syracuse, NY 13212
Licensed Mortgage Banker - New York State Department of Financial Services
NMLS Company ID – 309847
4
MONEYCLIPS SUMMER 2016
SEMINAR INFO Reservations are required for all seminars and can be
made by calling 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
Capital Region seminars will be held at the Dora Maxwell
Auditorium at SEFCU, 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 800-727-3328.
■ Making
Your Nest Egg Last – Strategies
for Sustainable Income in Retirement*
Thursday, July 28 • 6 p.m. – 7:30 p.m.
This seminar will be held in SEFCU’s Atrium,
700 Patroon Creek Boulevard, Albany.
■ Pension
SYRACUSE
■
Understanding Reverse Mortgages
Wednesday, August 3 • 10:30 a.m. – 12 p.m.
This seminar will be held at SEFCU’s Cicero
branch, 8086 Brewerton Road, Cicero.
Alternative Solutions to Long-Term Care
■
Wednesday, September 21 • 6 p.m. – 7:30 p.m.
This seminar will be held at SEFCU’s Midler branch, 107 Simon Drive, Syracuse.
Maximization*
Tuesday, August 16 • 6 p.m. – 7:30 p.m.
■
Teens and Money
Tuesday, August 23 • 6 p.m. – 7:30 p.m.
■ Building
a Strong Financial Future: Strategies for Age 45 to Retirement*
Wednesday, August 24 • 6 p.m. – 7:30 p.m.
■ Protecting
Your Assets from Nursing Homes
Tuesday, September 13 • 6 p.m. – 7:30 p.m.
■ Are
You Social Security Savvy?*
Thursday, September 29 – • 6 p.m. – 7:30 p.m.
MONEYCLIPS SUMMER 2016
5
S E F C U N E W S A N D I N F O R M AT I O N
Don’t let your
assets become
abandoned
property
Monopoly® Tournament
raises $25,000 for charity
■ For your protection, banks,
credit unions, insurance companies,
utilities, investment companies, and
many other businesses are required
by New York State law to surrender
accounts that have been inactive for
three years.
■ Special thanks to the more than 225 people who
participated in the 24th Annual Monopoly ® Tournament
to benefit the Center for Disability Services. More than
$25,000 was raised at this year’s event. As his prize for
winning the tournament, Justin Reuter donated $5,000
to the Boys and Girls Clubs of Albany, of which he is
executive director. Representatives of St. Anne Institute
won the business sponsors portion of the tournament and
selected St. Anne Institute as the recipient of its $5,000
award.
These accounts are known as “lost,”
“abandoned,” or “unclaimed” funds.
If accounts remain dormant for three
years, the assets will be turned over
to the Office of the State Comptroller
which will serve as the custodian of
the money.
Thank you to everyone who participated, especially our
Partners, CUNA Mutual Group, St. Peter’s Hospital, and
NYSID! See you next year!
If you can prove you are entitled
to the money you can reclaim it as
yours at any time.
To avoid this hassle, simply make a
deposit or withdrawal to or from your
account. You can search for New
York State abandoned property or
unclaimed funds at osc.state.ny.us.
THANK YOU TO OUR SPONSORS!
community news
Numbers
you
should
know
The 24th Annual
Monopoly Tournament
sponsored by
SEFCU raised
SEFCU employees
spent
for the Center for
Disability Services,
St. Anne Institute, and
the Boys and Girls
Clubs of Albany
this year with
students in school
mentoring and
reading programs
$35,000
6 MONEYCLIPS SUMMER 2016
992
hours
SEFCU
walkers raised
SEFCU
volunteers logged
SEFCU bowlers
brought in
to benefit the
American Heart
Association’s Annual
Heart Walk held in
June
during April in
honor of National
Volunteer Month
during its spring
Bowl for Kids’ Sake
fundraiser
$50,000
980
$25,000
to benefit Big
hours Brothers
Big Sisters
S E F C U N E W S A N D I N F O R M AT I O N
CAPITAL REGION’S
SEFCU sponsors free movies
for “Summer in the City”
■ Looking for something to do this summer? On Tuesdays at
SMARTEST
COMPANY
PRESENTED BY SEFCU
1 p.m., take the kids to the Palace Theatre in Albany to watch a
free children’s movie as part of “Summer in the City.” Kids under
12 will receive a free popcorn, compliments of SEFCU, and one
lucky child at each movie showing will receive a free iPad from
SEFCU pre-loaded with ABCmouse®.
Check out the movie schedule:
July 12: The Spongebob Movie: Sponge Out of Water
July 19: Finding Nemo
July 26: Diary of a Wimpy Kid: Dog Days
August 2: Brave
Capital Region’s Smartest
Company coming this fall
■ Round up some of your smartest employees and save the
date for the Capital Region’s Smartest Company, a multi-media
trivia event.
August 9: Cloudy With a Chance of Meatballs
August 16: Inside Out
August 30: The Peanuts Movie
Stop by or call the Palace Theatre box office for your free tickets!
At SEFCU, it’s all about the kids.
Tuesday, October 13
SEFCU Headquarters
Kiernan Plaza, 575 Broadway, Albany
Pay conveniently with your smartphone
■ If you like paying for your purchases quickly and conveniently, a mobile payment
service is the perfect solution for you! Instead of paying with cash, check, or
a credit or debit card, you can simply use your smartphone
to complete your transaction. Here’s how it works.
When you register your SEFCU MasterCard credit and debit
card for Samsung Pay your card information is stored securely
within your device. When it’s time to pay for purchases at
a retailer you’ll simply need to open the Samsung Pay
app, verify your identity with your fingerprint, and place
the device near the payment terminal. The terminal
will read your card information and the transaction
will proceed as if you paid cash or swiped a card.
Learn more about Samsung Pay by visiting sefcu.com/SamsungPay.
MONEYCLIPS SUMMER 2016 7
W E A LT H M A N A G E M E N T P L A N N I N G F O R Y O U R F I N A N C I A L F U T U R E
WEALTH MANAGEMENT SERVICES
Leave a larger
benefit to those
you love
■ Are you looking for a simple,
convenient way to leave a legacy
for future generations without the
large tax burden? Prudential’s
MyLegacy® may be the solution
for you.*
MyLegacy is a single-premium,
universal life insurance policy that can
be paid with one easy, online payment.
It also serves as an alternative solution
to purchasing Share Certificates which
require you to pay years of taxes on
interest.
This policy aims to make your assets
available for future generations. You
could potentially increase the amount
that you leave to your beneficiaries
with a money-back guarantee and tax
advantages – now and later.**
Call Sheila Cervera from our Wealth
Management team today at 888-2506689 x2026 to learn how you could
benefit from MyLegacy.
**MyLegacy® is issued by Pruco Life Insurance
Company except in New York, where it is
issued by The Prudential Insurance Company
of America. Both are Prudential Financial
companies located in Newark, NJ. Each is
solely responsible for its own financial condition
and contractual obligations. Policies contain
exclusions, limitations, reductions of benefits,
and terms for keeping them in force. We can
provide you with costs and complete details.
Policy form number for MyLegacy is SPUL-2015
& ICC15 SPUL-2015. Not available in all states.
All guarantees are based on the claims-paying
ability of the issuer.
How does “total wealth
management” work for you?
W
hen most people think of
“wealth management,” they
tend to think of “investment
management.” Investment advice is an
important part of the process, but “total
wealth management” is something more.
At SEFCU Wealth Management Services
we view total wealth management as
the development of a comprehensive
financial plan that looks at a member’s
total financial picture which leverages the
strength of SEFCU to help members pursue
their purpose. We don’t just review your
investments and assets, we also review
liabilities and risks.
As part of this process, we spend time
getting to know our members and what
drives your financial decision-making.
What are your priorities beyond the goals
we all share? Because every person is
unique, so is your approach to
managing your financial life.
This is where “total
wealth management”
works for you.
In addition to
the standard
investment
review and asset
projections you’ve
come to expect, our financial planners
work for you to help save you money by
identifying loan refinance opportunities or
strategies that could maximize tax savings.
We work for members by developing
retirement income strategies that may
create tax-free income while also creating a
pool of resources that could fund a longterm care strategy or maybe create an
estate for a surviving spouse.
In short, we are looking for ways to
maximize your resources to help you
achieve your purpose, whatever that may
be. And because our financial planners
are salaried professionals and not
commissioned salespeople, you can rest
assured that the recommendations they
make are in your best interest.
If you are over age 50 and expect to receive
retirement benefits from a pension and/or
a defined contribution plan (e.g. 401k,
403b, 457 deferred compensation) and
are interested in leveraging our total
wealth management approach for
your family, contact SEFCU
Wealth Management
Services at 518-451-2948
to set up a no-obligation
consultation with one of our
financial planners.
*Securities and Advisory Services offered through LPL Financial, a Registered
Investment Advisor. 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.
Not NCUA Insured
Not Credit Union Guaranteed
May Lose Value
Not Insured by Any Federal Government Agency
Not a Credit Union Deposit
8
MONEYCLIPS SUMMER 2016
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.
I N S U R A N C E B U N D LI N G P O LI C IES C O U L D N E T YO U SAVI N G S
SEFCU INSURANCE AGENCY
Shop smarter to save on insurance
D
id you know you could save money on your insurance
premiums by combining products such as your auto and
homeowners insurance?
According to the J.D. Power and Associates U.S. National
Auto Insurance Study, 58% of consumers bundle their auto and
home insurance policies with the same insurance company. But
how do you begin to find the best combined insurance quotes?
Start by talking to our team at SEFCU Insurance Agency.
Our team of dedicated, non-commissioned agents can evaluate
your coverage needs, comparison shop for the best combined
insurance plans, and provide you with multiple quotes from
some of the industry’s leading national insurance companies.
When you choose SEFCU
Insurance Agency to handle all of
your insurance needs, you could
save as much as 25% on
your premiums!
When you choose SEFCU Insurance Agency to handle all of
your insurance needs, you could save as much as 25% on your
premiums!
Ask one of our representatives to review your current
coverage to see if you could save money by combining
insurance policies. Call 888-250-6689 or visit
www.sefcuinsuranceagency.com/request-quote for your
free quote today!
MONEYCLIPS SUMMER 2016 9
S E F C U S W E E P S TA K E S E N T E R F O R A C H A N C E TO W I N A N E W CA R !
Car sweepstakes could
put you in the driver’s seat
Nothing beats the smell of a new car…except the smell of a new car that you don’t have to make
monthly payments on! SEFCU can give you a chance (well, actually many chances) to make that
happen as part of our new car sweepstakes. Here’s how it works.
Enter to Win
You have to be in it to win it so you’ll need to register (it’s free
to register) to indicate your interest in the car sweepstakes. If
you’re at least 18 years old, you can enter in one of three ways:
• By completing an entry form at any branch
• Online at sefcu.com/sweepstakes
• Via SEFCU OnLine by clicking on the “Sweepstakes” link in the upper right corner.
You only need to complete a registration form once to earn an
entry in the sweepstakes, but you can earn more chances to win
by adding SEFCU products and services to your account during
the sweepstakes period, August 15 to October 15. Already
have some of the products and services listed on the next page?
Great! Once entered, you’ll automatically earn those points.
Pedal to the metal
Gaining entries into the sweepstakes is easy. You have already
earned entries just for being a SEFCU member. If you scan
through the list of products on the opposite page and realize
you only have a few – don’t worry. Sign up now for one or all
10
MONEYCLIPS SUMMER 2016
of these SEFCU products, before the sweepstakes ends, and
earn a maximum of 190 entries.
You can win a car!
In late October, entries will be totaled and one entrant will be
randomly selected from all of the entries.
Your choice of vehicles
Thanks to Goldstein Auto Group, the winner has a choice of
one of four cars:
• 2016 Mitsubishi Outlander Sport SEL
• 2016 Buick Verano
• 2016 Jeep Renegade Sport 4x4
• 2016 Subaru Forester
Enter for a chance to win a new
car, cash prizes, and a donation
to your favorite charity.
Best of all, if you win the car you’ll also get to choose
a local non-proft to receive $1,000.
Second chances
Even if your name isn’t selected as the winner of the
2016 car, two additional winners will be selected
at random to receive alternate prizes. The second
winner will receive a $2,500 SEFCU MasterCard®
Gift Card and the third winner will receive a $1,000
SEFCU MasterCard Gift Card.
You have to be in it to win it so make sure you
register for the sweepstakes beginning August 15!
And, if you haven’t earned the maximum 190 entries
make sure you start taking advantage of all the ways
SEFCU can make your banking life better – and earn
more chances to win a new car!
To learn more and for complete rules visit
sefcu.com/sweepstakes.
SWEEPSTAKES RUNS AUG. 15 – OCT. 15
Start tallying your
entry points here!
NUMBER
OF
ENTRIES
PRODUCT NAME/TYPE
Membership –
be the primary member on a SEFCU
account in good standing
25
SEFCU OnLine
(logged in at least once within 30 days
of October 15, 2016)
25
Active Checking account
(at least one transaction within 30 days of
October 15, 2016)
20
Insurance policy through
SEFCU Insurance Agency
(auto or homeowners, not expired)
20
SEFCU Mobile App user
(logged in at least once within 30 days of
October 15, 2016)
20
Active consumer SEFCU MasterCard ®
Debit Card (at least one transaction in the
last 30 days as of October 15, 2016)
20
Enrolled in eStatements
15
Enrolled in eNotices
15
Use SEFCU iTeller on-the-Go
(consumer not business)
(at least once since January 2016)
10
Consumer loan
(auto, personal, home equity, student)
10
Active consumer MasterCard Credit Card
(at least one transaction within 30 days of
October 15, 2016)
10
MONEYCLIPS SUMMER 2016
11
BANKING WITH A PURPOSE WHY I CARE
WHY I CARE: SONIA GALAN AND MARYLOU BOROWIAK
Two women who take volunteering to heart
S
ince SEFCU began recognizing employees and members who give back to their communities through the Why I Care award,
we have met some amazing individuals – some who have overcome obstacles to make a better life and some who are simply
committed to helping others. Meet this quarter’s recipients, Sonia Galan and Marylou Borowiak, two women who are healing
hearts and helping the hungry – one life at a time.
Sonia Galan, Employee Recipient
Like so many, Sonia wanted to make a difference in the lives
of others, but wasn’t sure where to start. After moving to
Broome County and beginning her career at SEFCU she was
pleasantly surprised to be working for an employer who not only
encouraged her to volunteer, but supported her as she became
active in planning and coordinating major fundraising events.
Since her move to New York seven years ago, Sonia has been
active for a number of different non-profits, including the
American Heart Association, where she received the Volunteer
of the Year Award in 2014, Chris Thater Memorial Races, and
Toys for Tots, among others.
Like so many, Sonia wanted to make
a difference in the lives of others,
but wasn’t sure where to start.
Sonia remembers when she recruited a brother and sister ages
four and six, to participate in the Heart Walk and recalls how
excited they were to volunteer. That’s the kind of impact she’s
hoping to make on others as they become part of the change that
makes a difference.
Marylou Borowiak, Member Recipient
Before becoming president and CEO of the Food Bank of
Western New York, Marylou Borowiak served on its Board of
Directors for 12 years, and is proud to be the only
female executive director to have led the Food
Bank.
She remembers the very first time she volunteered
at the Food Bank’s Food 2 Families fundraiser and
was touched to see the community come together
to help families in need, being especially inspired
by the people who once relied on the Food Bank
for support making generous donations.
Sonia Galan, second from right, hangs out with the SEFCU team taking part in
Bowl for Kids’ Sake, a fundraiser for Big Brothers Big Sisters.
12
MONEYCLIPS SUMMER 2016
It was after Marylou graduated from college
that she made the commitment to give back and
change the lives of others, first volunteering at her
company-sponsored events, and eventually joining
several Boards of Directors where she could
make an impact. Her contributions can be felt
throughout Western New York, giving her time to
Susan G. Komen Western New York, Southtowns
Walleye Association, and Hillside Scholarship
Connection, to name a few. Marylou was once
given the advice to surround herself with people
who shared similar interests and that really
Left: SEFCU President
and CEO Michael
Castellana presents Why I
Care Awards to Marylou
Borowiak, left, and Sonia
Galan.
Below, Marylou Borowiak
works with food bank
volunteers to keep food
pantries stocked.
resonated with her. She realized that if she surrounded herself
with community-minded individuals who had the same
beliefs she could make a more positive impact in her work and
volunteer efforts – and this mantra has forever changed her life
– and her outlook.
It was after Marylou graduated
from college that she made the
commitment to give back and change
the lives of others, first volunteering
at her company-sponsored events,
and eventually joining several Boards
of Directors where she could make
an impact.
If these stories inspire you, nominate someone
you know for SEFCU’s Why I Care award by
visiting sefcu.com/WhyICare.
MONEYCLIPS SUMMER 2016
13
SEFCU MORTGAGE SERVICES TIPS FOR MILLENNIAL HOMEBUYERS
SEFCU MORTGAGE SERVICES
Millennials Want
Small, Affordable Homes
SEFCU Mortgage Services offers financing
A lot of people think young people won’t ever buy a home. Only 33% of people between
the ages of 25 and 29 own a home — lower than previous generations, but recent
surveys have found that millennials are finally starting to enter the market — albeit slowly.
We get the reluctance. The financial crisis began in part because
people bought homes they couldn’t afford, and those homes
became a huge financial burden both for them and the economy.
But a home loan doesn’t have to mean huge debt and a
McMansion in the suburbs. Many young couples today are tired
of living in apartments that feel impersonal and where they
can’t make any changes. They’re looking for small, affordable,
well-built houses that are close to many amenities.
700 Patroon Creek Boulevard, Suite 301, Albany, NY 12206
and 200 Salina Meadows Parkway, North Syracuse, NY 13212
Licensed Mortgage Banker - New York State Department of Financial Services
NMLS Company ID – 309847
14
MONEYCLIPS SUMMER 2016
Owning a home also can be like a forced savings plan. Your
monthly mortgage payment most likely is more than what
you were paying for rent, but you might not have been saving
or investing the extra money you had left when renting, so in
effect, owning a home forces you to save.
If you’re ready to make the move and buy a home of your
own, SEFCU Mortgage Services can help. Whether you’re
looking for a program to help you save for a down payment,
adjustable- or fixed-rate loans, or specialty mortgages, SEFCU
Mortgage Services’ Mortgage Originators are ready to walk
you through every step of the process. Get started by visiting
sefcumortgageservices.com or calling 518-783-1234 in the
Capital Region or 315-701-1390 in Syracuse.
C OLLEGE LIFE MANAGING YOUR FINANCES ON CAMPUS
Be ready for back-to-school
Whether your plans for college keep you close to home or take you thousands of miles
away, SEFCU has a solution to help you save money – and time. Find out how you can
enjoy free ATM access, open a Really Free Checking account, and bank right from your
fingertips with our Campus Connect account.
Campus Connect designed for you
Save with free* ATM withdrawals
No matter if you’re a freshmen on campus or are a returning
student, SEFCU’s Campus Connect account is designed with
college students in mind so you can focus on your
classes, not managing your money. We’ll even get new
members started by making the $1 minimum deposit to open
an account!
Money is tight so don’t waste it by paying ATM fees! SEFCU
is a member of the Allpoint® Network, which means you can
withdraw your cash for free at ATMs at major retailers like
CVS®, Target®, and Walgreens®. Allpoint ATMs are located
throughout the U.S., Canada, Mexico, Puerto Rico, England,
and Australia. Find a location near you by downloading the
SEFCU Mobile app. Learn more at sefcu.com/allpoint.
You’ll also enjoy:
• FREE Checking
• FREE online banking
• FREE ATM access
• FREE electronic account transfers from any other financial institution
Open your account today at sefcu.com/CampusConnect!
Enter for your chance to win*
$500 toward textbooks
Books are expensive; so SEFCU gives our Campus Connect
members a chance to win $500 toward textbooks again this
fall! Enter online this summer at sefcu.com/textbooks.
Winners will receive a $500 gift card or voucher to their
school’s bookstore.
*No purchase necessary. One entry per person and only offered to SEFCU
Campus Connect members. Duplicate entries will not be included in the
drawing. Contest opens June 1, 2016 and runs through September 6, 2016
for University at Albany, University at Buffalo, Rensselaer Polytechnic
Institute, and all other Campus Connect entries except Skidmore College.
Skidmore College contest opens June 1, 2016 and runs through September
14, 2016. A total of five (5) winners will be selected as follows: one (1) from
the University at Albany, one (1) from the University at Buffalo, one (1)
from Rensselaer Polytechnic Institute, one (1) from Skidmore College, and
one (1) from all additional Campus Connect member entries. Winners will
receive a $500 gift card or voucher to their school’s bookstore. No exchange
of cash for prizes. SEFCU staff and their immediate families not eligible.
Winners will be contacted by phone. To participate without entering online,
you may also send a 3”x5” card with your name, phone number, and college
attending to SEFCU Marketing/Textbooks, 700 Patroon Creek Blvd.,
Albany, NY 12206. Mailed entries must arrive no later than September 6,
2016 with the exception of Skidmore College entries which must arrive no
later than September 14, 2016.
Smartphone apps and Text Banking
What’s the one thing you never leave your dorm or apartment
without? Your phone! With SEFCU’s free app for iPhone®,
iPad®, Android®, and Kindle Fire®, you can manage your
money conveniently from the palm of your hand. Need to
check your account balance in a hurry? Sign up for SEFCU’s
free Text Banking service and keep tabs on your balances or
transfer money just by typing a few characters.
Find out more at sefcu.com/apps or sefcu.com/TextBanking.
*SEFCU members are not
required to pay a fee at Allpoint
ATMs. If a charge screen
appears during your Allpoint
ATM transaction, enter “yes”
to accept the charge and
proceed with your withdrawal.
The additional fee will not be
deducted from your SEFCU
account. The savings
can be $3 or more per
transaction. Please note, at
international Allpoint ATMs,
you will still be responsible
for the MasterCard®
Foreign Currency
transaction fee.
MONEYCLIPS SUMMER 2016
15
MWEEMABLE
ET
F CMUAPPR
E NOTUST $A5 4P, L5 A
0N
0 IN SCHOLARSHIPS
TR
H B
MEANNEAFGI T
ES
M ES N
PE
I NSG
SEFCU presents $54,500 in scholarships
■ In May, the credit union awarded $1,000 scholarships to SEFCU members graduating from high school and planning to attend
college in the fall. SEFCU also presented an additional $7,500 in scholarship money in the memory of three past Board Members:
Jean Myers1, Robert Berroyer2, and John Ilacqua3. Kimberly Hannigan was awarded the $2,500 Dr. Carmen M. Cornute Memorial
Scholarship4, an award established in memory of SEFCU Board Member Robert Cornute’s wife to assist someone pursuing an
advanced degree in Nursing or Social Sciences.
For the first time, the credit union awarded the Smart Sense Roma Intangible Lodge #215 scholarship5, and SEFCU also awarded
$1,000 scholarships to current students attending Rensselaer6, Skidmore7, the University at Albany8, and the University at Buffalo9.
Two students10 were also recipients of the New York Credit Union Association’s scholarships. Applications were judged based on
academic achievements, leadership positions held, a written essay, and community service. This year’s recipients had a combined total
of 46,000 volunteer hours. Congratulations to all!
CAPITAL
REGION
Monica Blanchard
Hudson Valley Comm. Coll.
Aaron Catchpole
Liberty University
Hannah DeWeerd
Saint Michael’s College
Kayla Hanrahan
Sacred Heart Univ.
16
Caitlin Borger
LeMoyne College
Bellame Bower1
Univ. at Albany
Nicole Choiniere
SUNY Plattsburgh
Daniel Cohen2
Siena College
Meghan Conboy3
Siena College
Caroline Conti
Quinnipiac Univ.
William Dong10
Princeton Univ.
Julia Dudley
Cazenovia College
Ashley Gifford
Connors State College
Gillian Hamilton
SUNY New Paltz
Precious King
Georgetown Univ.
Olivia Lang
Hofstra Univ.
Carlee Lockrow
Fairfield Univ.
Courtney Heritage
Syracuse Univ.
MONEYCLIPS SUMMER 2016
Kayla Carlin
SUNY Geneseo
Nicholas Cashman9
Univ. at Buffalo
Rachel Darsinos
UMass/Amherst
Kimberly Hannigan4
SUNY Empire State
Colin McLean
Northeastern Univ.
Daniel Meyer8
Univ. at Albany
Sarah Murray
Clark Univ.
Hanna Nichols
Syracuse Univ.
Antonio Pecoraro5
Rensselaer
Alyia Ruggles
Canisius College
Abigail Salvon6
Rensselaer
Samantha Sandwick
Brown Univ.
Lesley Santos
Siena College
Ian Seerung
Tufts Univ.
Jamie Smythe
Sage Colleges
Lily-Anne Trainor
Cornell University
Jamison Wells
Brown Univ.
Siara Clos10
LeMoyne College
Brendan Downey
Univ. at Buffalo
SYRACUSE
Madeleine Welsch7
Skidmore College
Stefanie Wood
Univ. of S. Carolina
Katie Yang
Georgetown Univ.
BINGHAMTON
Keenan Nellis
SUNY Geneseo
Kelly Veit
SUNY Cortland
Dana Croswell
SUNY Brockport
Jessica DiGennaro
Glenville State
College
Jessica Duff
Penn State Worthington
Scranton
Applications for next
year’s awards will be available in the fall.
Watch October’s edition of MoneyClips
for more information.
Dena Iadanza
D’Youville College
Phoebe Macaulay
Broome Community
College
Marissa Taylor
Binghamton Univ.
Congratulations!
MONEYCLIPS SUMMER 2016
17
S C H O O L BA N K I N G S EFC U B R I N G S SAVI N G S TO T H E C L AS S R O O M
SEFCU brings banking to school
■ Good saving habits start young and that’s why SEFCU’s Smart Sense School Banking Program is a great way to get elementary
students on the right path to making good financial decisions. This free, interactive program gives students a chance to make weekly,
regular deposits in their SEFCU Smart Sense account – right from school!
Perks for students – and your school
There are a number of ways students – and schools – can benefit from participating in SEFCU’s School Banking Program. Here are
some ways you can earn cash!
For students
• Sign up!
Any new student who opens an account will receive $5! That
includes the $1 minimum deposit to open the account and an
additional $4 deposited in his/her Smart Sense account.
• Reading reward
In December, school bankers can earn up to $1 for each book
read (up to $5) over the school break.
For the school
• Sign up School Bankers
For every student in your school who has an open and active
SEFCU School Banking account by December 31 of each
school year, your PTA will receive $5.
• Starring report card
Students who are in good standing and meeting expectations
for their grade, can submit their report card by July 31 to earn
$5 to spend or save!
• Third, no, fourth time’s a charm
After every fourth time a student banks he/she will earn a
prize as a reward for being a consistent saver.
18
MONEYCLIPS SUMMER 2016
To find out if your school participates in
SEFCU’s School Banking Program, or to see
how you can add the program to your school,
visit sefcu.com/schoolbanking.
SMART SENSE GAME AND PRIZE
Celebrate summer, SEFCU-style!
Take a break from the heat and see if you can unscramble
these words related to SEFCU and summer.
binngak
cdiert uoinn
hragmube
cei macre
MyipneoCls
irucannse
mmeebr
semumr
opol
pcam
vinsgas
ANSWERS: banking, credit union, hamburger, ice cream, MoneyClips, insurance, member, summer, pool, camp, savings
SEFCU SMART SENSE
You could be a winner!
Register for a drawing to win* a $100 MasterCard® Gift Card!
If you have a Smart Sense account at SEFCU, here’s your chance to win a
$100 MasterCard® Gift Card. Visit sefcu.com/Moneyclips and enter the drawing
by October 28, 2016 for your chance to win.
*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, you
may complete the online form for each child. One entry per person.
MONEYCLIPS SUMMER 2016
19
MONEYCLIPS
S U M M E R 2 016
Patroon Creek Corporate Center
700 Patroon Creek Boulevard
Albany, NY 12206
PRESORTED STANDARD
U.S. POSTAGE
PAID
SARATOGA SPRINGS NY 12866
PERMIT #426
MoneyClips is a quarterly newsletter published
for the benefit of SEFCU members.
Main Number 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
TTY Phone Number
518-464-5252
Website sefcu.com
AWA R D S SEFCU NAMED BEST BANK / CREDIT UNION FOR THE 10TH YE AR IN A ROW !
Thanks for voting SEFCU
the “Best Bank/Credit Union”
in the Albany Times Union Readers’ Poll
for the 10th straight year!