Making the grade

Transcription

Making the grade
T IPS A N D T R EN D S F R O M SE F C U SUMMER 2015
Moneyclips
save
I
learn
I dream
I
enjoy
I
balance I
live
Making
the grade
with campus
banking
PLUS FREE SEMINARS — MORTGAGE MATCH — SCHOLARSHIP WINNERS — LABOR DAY 5K REGISTRATION — AND MORE!
Moneyclips
S U M M ER 2 015
Issue Highlights
7
Business profile: W&W Property Management
Firm maximizes time with SEFCU products
8 Savings count with Mortgage Match
Check out this program to boost your down payment on a new home
9
When buying life insurance, don’t forget college tuition
A good policy should include coverage for college expenses
10
SEFCU student loans bridge the gap
It’s the convenient way to cover your college expenses
11
What’s big on campus
12
Why I Care: Shane Rauh and Dawn Martin
SEFCU’s Campus Connect account offers plenty of perks
For these two, giving back is personal
Lifestyle/Opportunities
6 Making the
most of
your Debit
MasterCard® !
Tips for taking
4
6
14
Summer seminar schedule
Planning a trip? Let us know
Understanding insurance
18
Smart Sense giveaway
SEFCU 5k registration form
19
advantage of your
new benefits
News
3
6
16
18
20 Message from the President & CEO
Don’t let your assets become abandoned property
SEFCU scholarship winners announced
Community events update
SEFCU named “Best Bank/Credit Union”
for 9th year in a row
www.twitter.com/sefcu
Holiday closings
All SEFCU branches and the Member Solutions Center
will be closed in observance of the following holiday.
Labor Day l Monday, September 7
Hope to see you at the SEFCU Labor Day 5k!
www.facebook.com/sefcu
Moneyclips is
MESSAGE FROM THE PRESIDENT AND CEO
■ As SEFCU is committed to our members
and our community I have exciting things to report
on both fronts. First and foremost, thank you to all
of our members who voted SEFCU the “Best Bank/
Credit Union” in the Times Union Readers’ Poll for
the ninth year in a row. While we are on “Cloud 9” to
receive this honor, we are grateful for the support our
members provide us day in and day out and are proud
to serve your financial needs.
With respect to our commitment to the community,
I’m proud to announce this quarter’s employee and
member recipients of SEFCU’s Why I Care award
which honors people who go above and beyond in
the community by providing support, leadership,
companionship, and compassion to those who need it
most. Meet our award recipients, Shane Rauh, SEFCU
employee, and Dawn Martin, SEFCU member, on
page 12.
SEFCU President and CEO Michael Castellana, right, caught up with Ray Rudolph,
chair of the Capital Region Heart Walk, before the big event at the Empire State
Plaza in Albany.
Even though April is National Volunteer Month,
SEFCU employees are encouraged to give their time to
organizations in the community all year long. In 2015 SEFCU
hopes to have its employees donate 35,000 hours of their time and
you can get in on the fun too by logging your volunteer hours by
visiting sefcu.com.
Before the last school bell rang for the year, SEFCU was busy
planning and participating in some springtime community
events, raising money and awareness for important causes
in our community. In May, SEFCU members and employees
rolled the dice and passed “Go” at the 23rd Annual Monopoly
Tournament® to benefit the Center for Disability Services. More
than $20,000 was raised through this popular event.
For the second year in a row, SEFCU has been part of the
American Heart Association’s Heart Walk with SEFCU teams
raising more than $40,000 for the 2015 event. Once again
staff put their best foot forward and stepped up fundraising
efforts for this walk that took place in downtown Albany.
In Binghamton, staff participated in the American Cancer
Society’s Relay for Life, and the credit union provided $5,000
to support their mission.
In Buffalo, SEFCU teamed up with the American Red Cross and
provided $10,000 to support The BASH, a one-of-a-kind military
themed fundraiser that helps support disaster relief in Buffalo,
and more than 30 SEFCU employees attended this fun event.
For the first time ever, SEFCU employees participated in a
mentoring reading program at Arbor Hill Elementary School
in Albany where volunteers were assigned a third grade student
at the school to meet with once a week. Student and tutor
practiced reading and comprehension skills. While the program
was for the children, as a mentor myself, I found it to be an
extremely rewarding experience. In June, we wrapped up this
year’s program with a party, but I’ll look forward to meeting up
with my student again in the fall when he enters fourth grade.
As always, the work that SEFCU does in the community
wouldn’t be possible without the support from our members.
If you’re looking for an easy way to get involved, sign up for
Giving for Good. For as little as $1 a month you can help us
make a huge difference in your community. Enjoy reading this
issue of MoneyClips. On behalf of everyone at SEFCU, thank
you for choosing us as your financial institution and we value
the trust you have placed in us. I welcome your comments at
[email protected] or follow me on twitter@castellana_.
Michael J. Castellana
President & CEO
Federally insured by NCUA
MONEYCLIPS SUMMER 2015
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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
■ Affordable Care Act: Small Business Health
Care Tax Credit
Susan R. Jensky, Internal Revenue Service Sr. Stakeholder
Liaison, will discuss the qualifications and reporting
requirements of the Small Business Health Care Tax Credit,
Provision 45R of the Affordable Care Act. To register, contact
[email protected] or call 518-361-4330 by July 31.
■ Alternative Solutions to Long-Term Care
Planning
Join Sheila Cervera, certified long-term care specialist, 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 at this seminar.
■ Get Financially Fit
Balancing life and your budget can get tricky. Get simple
suggestions and realistic options for successfully trimming
monthly expenses and saving for goals. You’ll also hear
strategies to help repair and build credit to improve your financial
fitness.
july
■ Medicare Advantage Plans and
Long-Term Care Planning
Are you turning 65 and need to choose a Medicare Advantage
Plan? Gearing up for open enrollment and want to learn more?
Join Vicki Beyer, Nevin’s Insurance Agency director of sales
and marketing, and Sheila Cervera, SEFCU certified long-term
care specialist, to learn the ins and outs of Medicare Advantage
Plans and Long-Term Care Planning.
■ Owning Your Financial Future: Six Ways
Women Can Take Control of What’s Ahead*
Today, women are earning more money, making more financial
decisions, and planning for the future. Join us while we explore
six potential financial scenarios that affect women and learn how
you can take action.
■ Super Savers: Save for a Goal and Activity
Attend this interactive lesson on the importance of saving with
your elementary-aged child. We’ll begin with a short story about
setting savings goals and then provide tools to create their own
savings jar to bring home.
■ Top 10 Tasks of Estate Planning
Join Bill Pfeiffer, Esq. to learn about basic estate planning tools.
Topics will include wills, trusts, guardianships, Medicaid and
long-term care planning, the use of medical directives, and
power of attorney forms.
Business Series: QuickBooks 101 (BACK BY POPULAR DEMAND!)
QuickBooks™ is the leading accounting software utilized by small business owners across the country. The QuickBooks 101
series, offered by the NYS Small Business Development Center, is designed to assist new users of the software with three
progressive classes. Attendees must bring a laptop or other portable computer with the QuickBooks software already installed. In
order to follow along with all in-class exercises and demonstrations, use of QuickBooks Pro or higher is encouraged.
Session 1: Getting Started and Setup • Thursday, September 17 • 8 a.m. – 11 a.m.
Basic functions of QuickBooks software • Basic accounting principles • Understanding the importance of lists in QuickBooks
Sessions 2: Working with Accounts and Entering Transactions • Thursday, September 24 • 8 a.m. – 11 a.m.
Setting up bank accounts • Recording sales • Recording deposits • Entering and paying bills and expenses
Session 3: Generating Financial Reports, Tracking Payables and Receivables • Thursday, October 1 • 8 a.m. –
11 a.m.
Overview of reports • Using QuickBooks to track and pay vendors, invoice time, and track customer receivables
Cost is $99 for all three sessions, payable by check at the first session. When you register you are enrolling in all three sessions
and it is strongly recommended that you attend all three for maximum benefit. Reservations are required. See seminar reservation
information on the top of the next page.
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.
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MONEYCLIPS SUMMER 2015
aug
sept
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. Directions to the Dora Maxwell Auditorium are
available at sefcu.com or by calling the Member Solutions
Center at 800-727-3328.
■ Tuesday, July 28
Super Savers: Save for a Goal and Activity
10 a.m. – 11 a.m.
■ Tuesday, July 28
Get Financially Fit
6 p.m. – 7:30 p.m.
■ Wednesday, July 29
Top 10 Tasks of Estate Planning
6 p.m. – 7:30 p.m.
■ Wednesday, August 5
Affordable Care Act: Small Business Health Care
Tax Credit
1 p.m. – 2 p.m.
This is a webinar and you will receive instructions when
you register.
■ Tuesday, August 18
Alternative Solutions to Long-Term Care Planning
6 p.m. – 7:30 p.m.
■ Wednesday, September 9
Medicare Advantage Plans and Long-Term Care
Planning
6 p.m. – 7:30 p.m.
■ Wednesday, September 16
Are You Social Security Savvy?*
6 p.m. – 7:30 p.m.
Binghamton
■ Wednesday, July 15
Super Savers: Save for a Goal and Activity
10 a.m. – 11 a.m.
This seminar will be held at the Broome County
Library, 185 Court Street, Binghamton.
■ Wednesday, September 30
Alternative Solutions to Long-Term Care Planning
6 p.m. – 7:30 p.m.
This seminar will be held at SEFCU’s Kirkwood
branch, 4 Crescent Drive, Kirkwood.
Buffalo
■ Thursday, July 30
Super Savers: Save for a Goal and Activity
10 a.m. – 11 a.m.
This seminar will be held at the Buffalo & Erie County
Public Library, 1 Lafayette Square, Buffalo.
Syracuse
■ Thursday, July 23
Super Savers: Save for a Goal and Activity
12 p.m. – 1 p.m.
This seminar will be held at the Soule Branch Library,
101 Springfield Road, Syracuse.
■ Wednesday, September 16
Alternative Solutions to Long-Term Care Planning
6 p.m. – 7:30 p.m.
This seminar will be held at SEFCU’s Midler branch,
107 Simon Drive.
■ Wednesday, September 30
Owning Your Financial Future: Six Ways Women Can
Take Control of What’s Ahead*
6 p.m. – 7:30 p.m.
MONEYCLIPS SUMMER 2015
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S E F C U N E W S A N D I N F O R M AT I O N
Planning a trip? Let us know
■ Summer vacation season is in full swing
and if you’re planning on using your SEFCU credit or
debit card while you’re away give us a call to let us
know.
Just contact SEFCU’s Member Solutions
Center at 800-727-3328 and tell us the dates
you are traveling and where you’re going.
That way if we notice transactions coming
from a location where you don’t normally make
purchases, we’ll know you’re traveling and
won’t assume your card is being used
fraudulently. Have a great vacation!
Don’t let your assets become
abandoned property
Making the most of your
new Debit MasterCard®
■ For your protection, banks, credit unions, insurance
■ Over the past several months all SEFCU
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. These accounts
are known as “lost,” “abandoned,” or “unclaimed” funds.
debit cardholders received an upgraded MasterCard.
Now that you have your new card follow these tips to
take full advantage of all the benefits it offers!

ACTIVATE your new card by calling the number on the sticker.
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. 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. For information about SEFCU’s abandoned property
policy, call the Member Solutions Center at 800-727-3328.
You can search for New York State abandoned property or
unclaimed funds at osc.state.ny.us.
Remember, even though your new MasterCard is chipenabled you can still swipe it like you
always have to pay for purchases
at merchants whose terminals
aren’t EMV compatible yet.
Thank you for your patience as
we upgraded all of our members’
debit cards to MasterCard and we
apologize for any inconvenience
you may have experienced during
this time.
 USE it online and at retailers that accept MasterCard.
PAY BILLS like your utilities, gym memberships,
or insurance premiums — by providing your card
number. Funds will be deducted from
your Checking account.
SEFCU credit cardholders
will receive an upgraded
Credit MasterCard later
this summer. To learn
more about the
upgrade to
MasterCard visit
sefcu.com/
NewMasterCard
or stop by any
branch.
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MONEYCLIPS SUMMER 2015
BUSINESS PROFILE
W&W PROPERTY MANAGEMENT
Property management company
maximizes time with SEFCU products
A
s a full service real estate management company,
W&W Property Management Company in
Binghamton covers all the bases when it comes to
homeownership, coordinating
advertising and renting vacant housing
units, collecting monthly rents on behalf
of their clients, coordinating lawn mowing
and snow removal services, as well as
general maintenance, construction, and
remodeling.
With clients all around the world, W&W
Property Management owners Josh
Williams and Dave Watson needed a
financial institution that could save them
time and help them manage their finances
quickly and conveniently.
Since W&W Property Management was
established four years ago their business
has grown to more than 300 tenants —
and so has the number of rent checks
they receive on a daily basis. To save
time, W&W Property Management uses
SEFCU iTeller for Business, which allows
Williams and Watson to deposit checks
they receive from their office right into their SEFCU account via
a special check scanner, saving hours each week.
W&W Property Management has
helped restore three houses on historic
Front Street to their original glory.
These properties are fully rented
and Williams and Watson are proud
of the work they’ve done to bring
these homes back to their original
condition.
“We were SEFCU members
before W&W Property
Management was established
and built some solid
relationships so it just made
sense to pursue SEFCU for
our business needs.”
“We were SEFCU members before
W&W Property Management was
established and built some solid
relationships so it just made sense
to pursue SEFCU for our business
needs,” said Williams. “Running a
business is challenging at times and it’s
nice to have a team that we can rely on
to make our lives much easier.”
To learn how SEFCU can make
managing your finances easier,
contact a Business Solutions Officer at
800-727-3328 x5222.
Josh Williams
MONEYCLIPS SUMMER 2015
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O P P O R T U N I T I E S M O R T G A G E M AT C H F O R N E W H O M E O W N E R S
SEFCU MORTGAGE SERVICES
Savings count with
Mortgage Match
I
f you’re in the market for a new home, Mortgage
Match might be the boost you need to save
enough for a down payment. When first-time
homebuyers enroll in this program, 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.
With Mortgage Match you make regular deposits (at
least $20 per month) into a Mortgage Match account
for a period of 10 to 24 months. During that time
you’ll also need to attend free seminars on
finance and homeownerships to help you learn
how to budget and pay bills. When you close
on your mortgage, you’ll receive a match from
the Federal Home Loan Bank equal to $4
for every $1 you saved.
Not a first-time home buyer?
Displaced homemakers and single
parents who have previously owned a
home may also be eligible.
Ask about it today! Call SEFCU Mortgage
Services at 518-783-1234 in the Capital
Region or 315-701-1390 in Syracuse.
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
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MONEYCLIPS SUMMER 2015
I N S U R A N C E P R O T E C T I N G YO U R C H I L D R E N ’ S E D U C AT I O N
SEFCU INSURANCE AGENCY
When buying life
insurance, don’t
forget college tuition
M
any people buy life insurance so that in the event of the unexpected,
death benefits can serve as income replacement. Life insurance can’t
replace a loved one, but it can ease the financial hardship caused by the
loss. People typically plan on life insurance to help pay for a mortgage
and ongoing living expenses, but it is also important to make certain
that an untimely death does not deprive your children of a quality college education. It is very
important to calculate and plan for the cost of higher education when evaluating your family’s
life insurance needs.
SEFCU Insurance Agency
has partnered with
AccuQuote to provide
reliable insurance options
to meet your needs.
For your free personalized
life insurance review,
call AccuQuote at
877-654-8916 or visit
www.sefcu.com/
accuquote today!
You can protect your children’s future by purchasing sufficient life insurance coverage to pay for their college
education in the event that a parent passes away. According to the College Board, the average cost of tuition and
fees at a private college for 2014-2015 was approximately $31,000, bringing the cost of a four-year degree at a
private school to an average of $120,000. If your son or daughter attends a public college, tuition and fees over a
four-year period will cost approximately $40,000 to $90,000, depending on state residency requirements.
Life insurance is a cost-effective means of providing the financial resources necessary to make the dream
of college education for your children come true. Rest easy knowing that all of your family’s financial needs
(including college education, mortgage, long-term living expenses, and more) are adequately provided
for by purchasing the correct amount of life insurance.
You can start the process today by visiting sefcu.com/accuquote or calling
877-654-8916. SEFCU has partnered with AccuQuote to provide this
important coverage and their licensed representatives are available to assist
you in determining exactly how much life insurance protection you need
and will guide you through the application process.
Call today and enjoy peace of mind knowing that your family is
protected from the financial loss in the event of a loved one’s
passing.
MONEYCLIPS SUMMER 2015
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SEFCU student
loans bridge
the gap
T
uition payments for the fall semester will be due
soon and if you are still worried about how you are
going to pay the bill, consider a SEFCU student loan.
SEFCU student loans are designed to fill the funding
gap that federal loans, financial aid, and scholarships
leave behind. Borrowing limits range from $2,000 to
$30,000 and you can choose a fixed- or variable-rate option.
Requirements
To be eligible for a student loan, applicants must have a SEFCU
Campus Connect account and may need to provide:
• A copy of the college or university award letter
• A copy of the tuition bill
• A self-certification form
• Proof of income
• Proof of maintaining at least a 2.0 GPA
Repayment options
Once you’ve selected the loan that’s right for you, several repayment
options are available, including monthly automatic transfers from
your SEFCU account. With this option you’ll also enjoy a quarterpercent rate discount. While the student is enrolled in school (at
least half time), your loan payment will be the greater of the interest
amount due or $35. Full principal and interest payments begin six
months after graduation, or when the student is no longer enrolled
in school.
We’ll pay the school
To make it convenient, once you are approved and all
the loan disclosures have been finalized, SEFCU
will forward loan funds directly to the college or
university. Funds are sent at the beginning of each
semester, provided all the requirements are met.
Ready to get started? Apply online at sefcu.com,
stop by any branch, or call the Member Solutions
Center at 800-727-3328.
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MONEYCLIPS SUMMER 2015
COLLEGE BAN KIN G EVERY THING YOU NEED TO MAKE THE GR ADE !
What’s big on campus
■ Whether your plans for college keep you close to
Smartphone apps and Text Banking
home or 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.
What’s the one thing you never leave
your dorm or apartment without?
Your phone! With SEFCU’s free
iPhone®, iPad®, Android®, and
Kindle Fire® apps, 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
Campus Connect designed for you
Whether you’re starting your freshmen year 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!
You’ll also enjoy:
• Free Checking • Free online banking • Free ATM access
Open your account today at sefcu.com/CampusConnect!
Save with free ATM withdrawals
Money is tight so don’t waste it by paying ATM fees! SEFCU
is a member of the Allpoint® network of ATMs which means
you can withdraw your cash for free at ATMs at major retailers
like CVS®, Target®, Walgreens®, and Hess®. Allpoint ATMs
are located throughout the U.S., Canada, Mexico, Puerto Rico,
England, and Australia. Find a location near you by downloading
the Allpoint or SEFCU app. Learn more at sefcu.com/allpoint.
Attending college next
year? If you’re a Campus
Connect member e-mail
[email protected]
with your name, expected
graduation year, and
the name of the college
you’re attending and
we’ll send a scholarship
application when they are
ready in the fall.
sefcu.com/apps
or sefcu.com/TextBanking.
Campus Connect Textbook Contest
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, 2015
and runs through September 8, 2015 for
University at Albany, University at Buffalo,
Rensselaer Polytechnic Institute, and all
other Campus Connect members except
Skidmore College. Skidmore College
contest opens June 1, 2015 and runs
through September 15, 2015. A total of ten
(10) winners will be selected as follows:
two (2) from the University at Albany, two
(2) from the University at Buffalo, two (2)
from Rensselaer Polytechnic Institute, two
(2) from Skidmore College, and two (2) from
all additional Campus Connect members.
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 are 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 8,
2015 with the exception of Skidmore College
entries which must arrive no later than September
15, 2015.
MONEYCLIPS SUMMER 2015
11
BANKING WITH A PURPOSE WHY I CARE
Why I Care: sHANE RAUH & DAWN MARTIN
For these two, giving back is personal
E
ach quarter, SEFCU honors individuals who go above and beyond in the community with the Why I Care award. Our latest
recipients, Shane Rauh and Dawn Martin, have reasons for volunteering that hit close to home. Thank you, Shane and Dawn,
for all you do!
Shane Rauh, Employee Recipient
SEFCU Business Banking Officer Shane Rauh learned the
importance of giving back at an early age from his mom. She
believed the idea of showing someone you care is as simple
as giving them your time – by volunteering, checking in on
someone, or just holding a door. Now a father of two, Shane
hopes to make the same impression on his children – and so far
he has.
Showing someone
you care is as
simple as giving
them your time.
Shane recalls a time
he was stopped
at a traffic light
when his young son
noticed a man with
a sign standing on
the corner. After
Shane explained
why the man was there, his son asked if he could give the man a
dollar and pay his dad back from his piggy bank when they got
home. Shane’s son got the message of giving back loud and clear.
Shane is an active volunteer for a number of organizations,
including Crossroads Center for Children (in 2014 he received
the Distinguished Service Award), the Regional Food Bank
of Northeastern New York, Equinox, and the Schenectady
YMCA. But his favorite volunteer moments occur during his
time at Schenectady Home Furnishing, especially observing the
expressions on the faces of those who are receiving much needed
furniture.
Dawn Martin, Member Recipient
Eight years ago when Dawn Martin’s son, Shawn, a U.S. Marine,
was killed while serving in Iraq, she began looking for a purpose
and a way to honor Shawn’s memory, a young man who was
well known for his strong hugs. Soon after, Uncle Shawn’s Hugs
was born, a non-profit that makes and distributes warm, fleece
blankets (hugs) to underprivileged children.
Dawn vividly remembers one of the first times she was handing
out blankets at stops on the Toys for Tots Holiday Train and a
young boy who had just received a new toy asked if he could have
a blanket in exchange for his toy. “I knew that was a wake-up call
for me,” said Martin. “It made me realize that although there are
great needs everywhere, I could make a difference right in my
own backyard.”
Since it started, Uncle Shawn’s Hugs has distributed more than
5,800 “hugs” to children in need. Dawn finds comfort in knowing
that each time she wraps a blanket around a child, she is keeping
Shawn’s mission of giving to others alive.
Shane Rauh, center, pitches in on a community clean-up with other
SEFCU volunteers.
Know a SEFCU employee or member who deserves the Why I Care Award? Visit sefcu.com/WhyICare to
nominate someone you believe makes a difference in his/her community.
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MONEYCLIPS SUMMER 2015
Above: SEFCU President & CEO Michael Castellana presents Why I Care awards to Dawn Martin and Shane Rauh for their communty
volunteerism. Below: Dawn Martin shows off a finished blanket ready to be handed out to someone who needs a “hug.”
“I have been so very blessed to meet so many wonderful, caring
people through Uncle Shawn’s Hugs and I will forever have a
place in my heart for them,” said Martin.
Since it started, Uncle
Shawn’s Hugs has distributed
more than 5,800 “hugs” to
children in need. Dawn finds
comfort in knowing that each
time she wraps a blanket
around a child she is keeping
Shawn’s mission of giving to
others alive.
To learn more about Uncle Shawn’s Hugs
visit uncleshawnshugs.org.
MONEYCLIPS SUMMER 2015
13
W E A LT H M A N A G E M E N T I N S U R A N C E Q & A W I T H S H E I L A C E R V E R A
WEALTH MANAGEMENT SERVICES
Your key to
UNDERSTANDING INSURANCE
Fifteen Minutes with Sheila Cervera LUTCF, CLTC, CES
U
nderstanding and finding the right insurance coverage for your needs can
be overwhelming and confusing, but SEFCU’s credit union insurance
specialist, Sheila Cervera, can help you navigate the process and get you
the protection you need.
Question: Can you descibe what
you do at SEFCU?
Sheila: As part of the Wealth Management team,
I’m the credit union’s insurance specialist. I meet with
members and develop comprehensive solutions that
help them protect their families. When we get
together, we do a thorough review of their current
situation and any existing insurance coverage they
may have. If there are any gaps, I recommend
strategies that can help fill them.
“I am not a
commissioned
sales person,
I’m here
to help
members.”
14
MONEYCLIPS SUMMER 2015
“Not having enough life insurance coverage and not
having their own disability income insurance are two of
the most common errors people make.”
Question: Everyone knows they need
insurance but, next to buying a car, it’s the
last thing most people want to do! What’s
the experience like working with you?
Sheila: It’s funny that you say that because there are
studies out there that say people avoid getting insurance
because they fear a high pressure sales pitch. We just don’t
do that at SEFCU. Our wealth management approach is very
simple. We learn as much as we can about our members
and we make recommendations that we feel are in their best
interests. I am not a commissioned sales person, I’m here to
help members. When you get a recommendation from me, or
any of my colleagues on the Wealth Management team, it’s
what we think is the best course of action for you.
Question: What are some common
insurance mistakes people make?
Sheila: Not having enough life insurance coverage and not
having their own disability income insurance are two of the most
common errors people make. Life insurance needs change over
your life, so it’s important to evaluate your coverage from time-totime to make sure it’s enough. Also, a lot of people have coverage
from their employer, however, if you’re between jobs, you will
lose that extra coverage. Disability insurance protects your income
in the event you get hurt and can’t go to work, whether on a
temporary or permanent basis. While losing a loved one is never
easy, in some ways, caring for a permanently disabled family
member can be even more stressful, especially when their salary
stops. We always take a look at your disability coverage as part of
any wealth management review.
Question: Aside from life and disability
insurance, is there any other coverage
people should consider?
Sheila: Long-term care insurance can help cover the costs
of advanced nursing care at home, in an assisted living facility,
or in a nursing home. New York State offers the Partnership
for Long-Term Care which can be a more affordable approach
to long-term care than a traditional policy. With a Partnership
policy, members receive long-term care benefits that protect
their assets, or part of their assets, for a certain number of
years. After that time is up, they can then receive coverage
through Medicaid without having to spend down all their
assets. These are good plans for folks who intend to stay in
New York after retirement. There are a couple of different
Partnership plans available, but some people may find a
traditional policy better meets their needs.
Question: Any final thoughts?
Sheila: I work with SEFCU’s Wealth Management
financial planners to help put a comprehensive plan together.
We look at all aspects of your financial life, including loans,
credit cards, insurance, income, and investments. If you’re
interested in getting the ball rolling, I would be happy to
send you our fact finder. It’s the first step in developing
a financial plan for you. E-mail me today at scervera@
sefcuinsuranceagency.com or call 518-862-1955.
Not NCUA Insured
Not Credit Union Guaranteed
May Lose Value
Not Insured by Any Federal Government Agency
Not a Credit Union Deposit
*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.
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 SUMMER 2015
15
MEMBER BENEFITS SEFCU PRESENTS $ 52,000 IN SCHOLARSHIPS
SEFCU presents $52,000 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. Felisha Brown was awarded the $2,500 Dr. Carmen M. Cornute Memorial
Scholarship4 to help her further her education in nursing. SEFCU also awarded $1,000 scholarships to current students attending
Rensselaer5, Skidmore6, the University at Albany7, and the University at Buffalo8. Three students9 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 26,000 volunteer hours. Congratulations to all!
capital
region
Ifeoluwa Adelugba
Siena Coll.
Erick Bower
Hudson Valley Comm. Coll.
Mark Brenner 3
Siena Coll.
Anna Brewer
Brandeis Univ.
Kristin Connolly
Austin Daily 2
Catholic Univ. of America Catholic Univ. of America
Felisha Brown 4
DePaul Univ.
Laree Burden
Univ. of Bridgeport
Caitlin Chauhan
Albany Coll. of Pharmacy
Carolyn Cimo
Clarkson Univ.
Ethan DiMura
Siena Coll.
Cameron Duwe
New York Univ.
Rachel Gamache
Elmira College
Tyler Gannon
Albany Coll. of Pharmacy
Bryan Gellner
Binghamton Univ.
Caroline Halburian 1
SUNY Cortland
Katia Hernas
Nazareth Coll.
Jennifer Hoffmann 9
Case Western Univ.
Christopher Kelsey
Boston Coll.
Zachary Kircher
Univ. of Maryland
Claudia Heritage
Syracuse Univ.
16
Cameron Bartow
Northeastern Univ.
Lillian Herrmann
Colby Coll.
MONEYCLIPS SUMMER 2015
Benjamin Long
Summit Univ. of Penn.
John Mackay
Haverford Coll.
Bianca Mascitelli
Albany Coll. of Pharmacy
Abbey McGrath
Berklee School of Music
Ryan Mullane 7
Univ. at Albany
Gerson Murillo-Nunez
Univ. at Albany
Annie Ouyang 8
Univ. at Buffalo
Allegra Padula 9
Colgate Univ.
David Parker
Wheaton Coll.
Ariane Ramlochan
Binghamton Univ.
Tyler Ruhle
Marist Coll.
Robert Schmitz
Clarkson Univ.
Morgan Shaw
Siena Coll.
Oneida Shushe
Colgate Univ.
Kaitlyn Smith
Siena Coll.
Jacob Spencer
Marist Coll.
Zoe Sykes-Varnhagen
Case Western Reserve Univ.
Briela Tollisen
SUNY Oneonta
Katherine Wainwright
Univ. of Penn.
Evelyn Welch
SUNY Geneseo
Buffalo
Binghamton
Patrick Crowley
Canisius Coll.
Michayla Paniccia
SUNY Broome Comm. Coll.
David Stackrow 9
Northeastern Univ.
Madeline Welsch 6
Skidmore Coll.
Hanna Sykes-Varnhagen
Univ. of Colo./Boulder
Deborah Winograd 5
Rensselaer
Applications for next
year’s awards will be
available in the fall.
Watch October’s
edition of MoneyClips
for more information.
!
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Congratula
MONEYCLIPS SUMMER 2015
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C O M M U N I T Y E V E N T S U P D AT E
CAPITAL REGION’S
SMARTEST
COMPANY
PRESENTED BY SEFCU
Save the date!
Capital Region’s
Smartest Company
coming this fall
Monopoly® Tournament wrap up
Special thanks to the more than 160 people who participated in the 23rd Annual
Monopoly ® Tournament to benefit the Center for Disability Services. More than
$20,000 was raised at this year’s event. As his prize for winning the tournament,
SEFCU member Jeff Foote donated $5,000 to a local food pantry. The Albany
Devils were the winning Mogul table and they selected the Center for Disability
Services as the charity to receive their $5,000 donation.
Thank you to everyone who participated, especially our Platinum Partners,
CUNA Mutual Group and NYSID! See you next year!
SEFCU SMART SENSE
You could be a winner!
Register for a drawing to win* a $100 Amazon gift card!
If you have a Smart Sense account at SEFCU, here’s your chance to win a
$100 Amazon gift card. Visit sefcu.com/Moneyclips and enter the drawing
by September 30, 2015 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.
18
MONEYCLIPS SUMMER 2015
Round up some of your smartest employees
and save the date for the Capital Region’s
Smartest Company, a multi-media trivia
event.
Tuesday, October 13
SEFCU Headquarters
Kiernan Plaza, 575 Broadway,
Albany, NY
Companies interested in participating
should e-mail [email protected] for a
sponsorship packet.
S E F C US M
LA
DN
AY
I SNTDR A
AB
RO
T RS E
S E5 K
G ARMEEG A
P TRIIO
ZN
E
Monday, September 7, 2015
SEFCU @ Patroon Creek
Race / Walk Start: 9:00 a.m.
Location:
Race/walk starts and finishes at SEFCU, 700 Patroon Creek Blvd., Albany
HMRRC Entry Fee for 5k Race/Walk*:q $15 for HMRRC members and SEFCU members who pre-register
q $20 for all others who pre-register
q $25 day of the race registrants
q $30 for HMRRC fee and a donation to the non-profit recipient of the race funds
Applications must be received by Friday, September 4, 2015.
HMRRC Entry Fee for Kids*:
$1 per child; 1 mile; approximate 10 a.m. start
Event day registration only
Separate application for team competition is available at sefcu.com
Race Prize Structure:
Shirts:
Medals to the first three male and female finishers in each of the following age groups: 11-17; 18-21; 22-29; 30-34; 35-39; 40-44; 45-49; 50-54; 55-59; 60-64; 65-69; 70 and over. Trophies will be awarded to the first three male and female overall finishers. Trophies will also be awarded to the first three male and female overall finishers who are SEFCU members. No duplication of prizes.
Commemorative SEFCU 5k T-shirts will be given to all participants.
Refreshments:
Complimentary fruit, drinks, etc. available at end of event.
Results:
Posted 15 minutes after event and available the same day at www.hmrrc.com.
For More Info:
Call 518-464-5341, or visit www.hmrrc.com.
Name
I will participate in:
Address
City
Age
o 5k Run
o 5k Walk
StateZip
Sex
SEFCU Member o
Male o
Female oPhone
HMRRC Member o
Where did you hear about this event?
*I would like to make a donation directly to the SEFCU Community Support Program in the amount of $
Mail donations to: SEFCU Community Support Program, 700 Patroon Creek Blvd., Albany, NY 12206.
Signature
.
Parent/Guardian (if under 18)
I know that running a road/trail race is a potentially hazardous activity. I attest that I am physically fit and sufficiently trained to compete in this event. I agree to abide by any decision of
a race official relative to my ability to safely complete the run. I assume all the risks associated with running in this event, including but not limited to falls, contact with other participants,
the effects of weather, including high heat and humidity, traffic and the conditions of the road, all such risks being known and appreciated by me. Having read this waiver and in consideration of your acceptance of my entry, I, for myself and anyone entitled to act on my behalf, waive and release the Hudson-Mohawk Road Runners Club, SEFCU, the SEFCU Foundation, non-profit recipients of funds from the race, the State of New York, their sponsors, officials, representatives, and successors from all claims or liabilities of any kind arising out of my
participation in this event, even though that liability may arise out of negligence or carelessness on the part of the persons or organizations named in this waiver. I also understand that
the use of headphones, ear buds, or other listening devices during this race is prohibited and may result in my disqualification. I agree that any digital or print photographs taken during
this event are the sole property of SEFCU and may be used appropriately in future SEFCU publications or other marketing materials.
Make registration checks payable to Hudson Mohawk Road Runners Club. Send entry fee with completed
application form to: HMRRC c/o John Parisella, 117 Elmer Avenue, Schenectady, NY 12308.
You may also register online at http://members.hmrrc.com/event-1967097
Applications cannot be accepted at SEFCU locations.
Directed by
MONEYCLIPS SUMMER 2015
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MONEYCLIPS
s U M M E R 2 015
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 www.sefcu.com
awards sefcu named “ best bank / credit union ” for 9 th year in a row !
Thanks for voting SEFCU the “Best Bank/Credit Union”
in the Albany Times Union Readers’ Poll for the 9th year in a row.