Shared Interests
OCTOBER 2016
Change is in the Air
Website Redesign. Watch our website next month for a brand new look. The new
hvfcu.org will be a fully responsive site designed to provide members with the
best experience possible across a variety of mobile and desktop devices. Our new
website will feature:
•
•
•
•
A clean, modern design
An optimized version for mobile devices
User-friendly navigation and content throughout
Enhanced functionality
The best part? Internet Banking and other sign-ons and passwords will not
be affected.
Receive $200 when you
refinance your auto or
home equity loan!* Lowering your interest rate could save you
hundreds, if not thousands, of dollars over the
life of your loan. Refinance an auto or home
equity loan of $10,000 or more from another
institution before October 15, 2016, and we
will deposit $200 right into your HVFCU
account of choice.
Receive $200 to Refinance Your Auto Loan.
Even a small difference in rate could add up to
big savings over the life of your loan. Refinancing
your auto loan at a lower rate can help you
lower your monthly payment. You may want to
consider refinancing if:
New Business Internet Banking. By the end of the year, we will introduce a new
Business Internet Banking system with enhanced security, member-to-member
transfer functionality, and enhanced cash management features. At the same time,
we’ll also launch a new mobile banking app specific to business members. Watch
our website in the coming weeks for more information on both of these changes.
•Your credit has improved since you
purchased your vehicle.
•Your current rate is higher than the rates
we offer.
•You want a longer term and lower monthly
payments.
Tap. Pay. Done. Android Pay® and Samsung Pay® have joined ApplePay® as faster,
safer ways to pay at the checkout using your personal and business HVFCU Visa®
Debit and credit cards. Use Samsung and Android Pay virtually anywhere you can
swipe or tap your card, and to make purchases through mobile apps.
•Your lease is expiring and you want to keep
the vehicle.
Android and Samsung Pay are both confidential and safe. Merchants do not receive
any of your specific card information such as your name, card number, or security
code—and both offer several layers of security. Android and Samsung Pay don’t
send your actual credit or debit card number with your payment. Instead, a virtual
account number is used to represent your account. This ensures that your personal
information as well as card details remain private and secure.
In this issue
Android Pay is available for any NFC-enabled Android device (KitKat 4.4+).
Samsung Pay is available for Galaxy S6 & S7, Galaxy S6 edge & S7 edge, Galaxy
S6 active & S7 active, Galaxy S6 edge+, and Galaxy Note5. Go to Google Play to
download either app.
Defensive Driving Classes.......................................... 4
Continued on page 4...
Continued on page 2...
With Thanks and Gratitude ...................................... 2
Save Energy and Cash.................................................3
Hudson Valley Restaurant Week.............................. 3
ACH Setup the Easy Way............................................ 4
Get Out of Line..............................................................5
College Scholarships, Grants and Loans................ 6
Free Seminars................................................................7
With Thanks and Gratitude
Refinance your auto or
home equity loan Continued from page 1...
Receive $200 to Refinance Your Home Equity Loan
Using the equity in your home can be a great option to
refinance and save. So whether you have balances on highrate credit cards and/or store branded cards, or a previous
home equity with a balance from a time when rates were
higher, you could save thousands by refinancing with an
HVFCU home equity loan today.
You can also benefit from paying off or consolidating a
variety of other debts with a home equity, including tuition
and any unexpected expenses that you may have. Even
more, the interest you pay on a home equity loan may also
be tax deductible, giving you even greater savings. Consult
with your tax advisor to determine your eligibility.
See if refinancing makes sense for you. Visit one of our
convenient branch locations or apply online today.
*See important disclosures on page 8
In the past few months, two long-tenured
credit union volunteers have made the
decision to retire from service. David Bagley
began volunteering for HVFCU in 1991 as a
member and followed as Chairman of the
Nominating Committee. He then served on
our Board of Directors from 2001 to April
of 2016. David was Treasurer of the Board
for 11 years and Secretary/Treasurer for one
year, Assistant Treasurer for two years, and an active member of
several committees including Asset Liability and Compensation
and Benefits. David is a generous community volunteer and has
served many other groups including the Eleanor Roosevelt Center
at Val-Kill, the Ebenezer Church Breakfast Program, and the Upsilon
Tau Chapter of Omega Psi Phi Fraternity. An accomplished singer,
David has sung with the RSVP Golden Age Singers, Cappella Festival
Choral Group, as well as local church choirs.
Henry Rodgers also tendered his resignation
in August of this year following 49 years
of service to HVFCU. Serving first as an
Associate Member of our Supervisory
Committee beginning in 1967, Henry was
elected to the Board of Directors in 1969.
During his tenure on the Board Henry served
twice as our Board Chairman, and also
held the executive positions of First Vice
Chairman, Treasurer, and Assistant Treasurer, as well as Chairman of
our CUSERVE Board. He was named Volunteer of the Year in 1990 by
the National Association of Federal Credit Unions. Like David, Henry
also served the greater community in many ways, most recently
as a Board Member and Past Board President for Mill Street Loft in
Poughkeepsie.
In appreciation of their many years of service, both David and Henry
have been named Director Emeritus. We thank them - and their
families - for their unwavering support of our financial cooperative.
The 2016 Times Herald Record Readers’ Choice awarded
first place to HVFCU for best credit union–four years
running. Thank you for your voting us #1!
2
Save Energy and Cash
Performing green practices when it comes to
remodeling your home can be just as good for your
wallet as it is for the environment. If you’re looking
for ways to reduce your carbon footprint, here are
the top five green home improvement projects
that will help:
• I nsulation. Poorly insulated areas in your home can contribute to
high energy inefficiency. Get your home insulation up to speed by
replacing faulty doors and windows, weakly insulated basement
and attic spaces, cold floors, and walls.
• Replacement Windows. High efficiency windows can slice your
energy use by as much as 50% in a year! Look for ENERGY STARmarked windows as approved by the U.S. Department of Energy.
• H
eating Systems. Home heaters contribute more than 35% of
your home energy expenses. Energy efficient boilers and furnaces
can trim your expenses by half, depending upon how current your
heating system is and where you live.
•
Air Conditioning. Replacing your old air conditioner with a new,
high efficiency model can be instrumental in lowering your monthly
utility bills. ENERGY STAR certified units have SEER (Seasonal Energy
Efficiency Ratio) ratings, with the highest efficiency units rating 20
and higher. The higher the SEER rating, the better your savings.
Consent to Contact
Changes have been made to our Truth in Savings
Disclosure and Account Agreement that affect all
accounts in terms of how we may contact you.
Consent to Contact. You are required to provide an
active telephone number by which we can reach you. You
may, but are not required to, provide us with a cellular,
voice-over-Internet-protocol (VoIP), or other telephone
number which may require you to pay for receiving calls
(a “mobile” number). You are not required to provide a
mobile number in order to access any product or service
provided by us. If you choose to provide us with a mobile
number, you thereby expressly consent to receiving
communications from us and our affiliates and agents at
that number for any purpose and by any method, including
efforts to contact you regarding a debt, prerecorded or
artificial voice message calls, text messages, and calls
made by an automatic telephone dialing system. Such
calls and messages may incur access fees from your cellular
provider. Your consent to receive prerecorded or artificial
voice message calls, text messages, and calls made by an
automatic telephone dialing system may be revoked at any
time, although we may still contact you in connection with
any debt you may have.
• K
itchen Appliances. Updating your kitchen appliances can result
in a more energy efficient home. ENERGY STAR appliances such as a
fridge or dishwasher can cut down energy use by at least 40%!
Making smart choices to improve your home means you are not only
saving on your utility bills, but also contributing to an eco-friendly and
sustainable home environment for future generations.
Save even more by choosing the right financing for your project.
Your project deserves the best financing—like our interest-only1 home
equity line of credit. It features a variable rate and flexible terms to help
you shop affordably for your improvements. Our regular fixed rate
home equity loan is also affordable. A reduced rate when you arrange
for AutoPay2 can really boost your savings. More information
and our quick and easy application are available at hvfcu.org.
1
The variable rate effective August 19, 2016 is 3.50% and is subject to change. The rate is as low as
stated. Rates (for this product) are determined by an evaluation of applicant credit, and your rate
may vary from the rate shown. Maximum Annual Percentage Rate is 18%.Borrower is responsible
for both homeowners and flood insurance.
The AutoPay rate is discounted by .25% and includes a requirement that loan payments are
automatically transferred from your HVFCU savings, checking, or tiered money market account
for the life of the loan. The monthly payment is not decreased as a result of this discounted rate.
2
Hudson Valley Restaurant Week,
November 1 – 13
HVFCU is proud to once again join our members and
neighbors to support the businesses and organizations
that make this community a great place to live, work - and
dine. That’s why we’re happy to be the presenting sponsor
of Hudson Valley Restaurant Week, November 1 - 13, when
we’ll have the opportunity to enjoy the extraordinary
culinary offerings from more than 200 participating
restaurants at special prices.
Make a reservation and join HVFCU in supporting local
business. Go to valleytable.com/hvrw/restaurants.com
for complete information and a list of participating
restaurants.
3
Faster, Easier
Auto Financing
ACH Setup the Easy Way
Direct deposit via ACH (Automated Clearing House) is today’s safest,
fastest, most convenient way to deposit your paycheck, Social
Security, or other recurring payment into your checking, savings, or
money market account—and it’s simple to set up. To begin, you’ll
need HVFCU’s transit routing number and your ACH number, which
can found within Internet Banking.
To locate your ACH number and set up ACH:
✓
Sign on to Internet Banking
✓Click on the savings, checking, or money market account you
would like to use for your deposit and click “see account details”
on the right side of the page.
✓A drop down list of items will appear, including an “ACH
Number.” Provide this number along with our transit routing
number (221979363) to your payroll department or appropriate
party to initiate your ACH direct deposit.
✓While you’re in Internet Banking, be sure to set up CUAlerts and
On-the-spot convenience. If you’re shopping for a car, you’ll
be glad to know that HVFCU offers competitive rates and flexible
terms to make your financing experience just as satisfying as
your buying experience. In fact, if you’re at the dealer when
you’ve decided on the vehicle you want, you can apply for HVFCU
financing on-the-spot and drive away happy. See our participating
dealer list at hvfcu.org.
Shop with confidence. Take some time to get pre-approved in
advanced by applying online at hvfcu.org, or by stopping by any
branch to apply. A pre-approval helps you shop with confidence,
because you know the price and type of vehicle you can afford so
you can get the best deal.
Lower your rate with AutoPay. When completing your
financing, be sure to arrange to have the payments automatically
deducted from your HVFCU savings, checking, or money market
account. By doing so, we will lower the interest rate on your loan
by .25%!1 In addition to saving money, you’ll never have to worry
about being late with a payment, which can help you build and
maintain a good credit history.
The AutoPay rate is discounted by .25% and includes a requirement that loan payments are
automatically transferred from your savings, checking, or tiered money market account for
the life of the loan. The monthly payment is not decreased as a result of this discounted rate.
1
arrange to receive direct deposit notifications by text or email.
Follow this same process to set up a recurring withdrawal (e.g. a
health club membership).
Change is in the Air Continued from page 1...
Visa Checkout. Visa Checkout makes online shopping more
enjoyable by making it easy to complete your purchase. Simply
select the Visa Checkout payment option, enter your username
and password, and speed through your online shopping
experiences with a single account that can be used across all your
devices. No need to re-enter your card number or address because
all your personal and business HVFCU Visa® Debit and Credit card
information is stored in advance.
Visa uses advanced security technologies to help protect
your information, including industry standard encryption and
multilayer authentication. To create an account, and for more
information about Visa Checkout, visit visacheckout.com
4
Defensive Driving Classes
Save 10% on your auto insurance and reduce points on
your NYS license. The cost for each class is $25 per person;
prepayment and reservations are required. Seating is
limited. To reserve, register online at hvfcu.org, or call
845.463.3011 ext. 2410. Online defensive driving classes
are also available at hvfcu.org.
Saturday, October 15
8:30 am–3:00 pm Hyatt House, 100 Westage Business Center Drive, Fishkill, NY
Saturday, November 19
8:30 am– 3:00 pm
Hampton Inn, 2361 South Road, Poughkeepsie, NY
Sponsored by HVFCU Insurance Agency.
Insurance products: Are not NCUA/NCUSIF insured | Are not obligations
of HVFCU | Are not guaranteed by HVFCU.
Money-Saving Auto
Maintenance Tips
Get Out of Line
Times have changed, especially when it comes to technology and
banking. The old routine for cashing a check or making a deposit is
to head to the local branch, make a beeline for the teller, and wait
your turn in line. It’s how you’ve always done it. But are you aware
that we offer alternate ways to cash a check or make a deposit that
are faster and much more convenient?
HVFCU ATMs are great for getting quick cash or making deposits on
the run. However, one lesser-known feature of the majority of our
ATMs is their ability to cash checks.1 No envelopes required. Just slip
your check into the slot; the ATM will read and verify the amount,
and dispense your cash (change, too). Much better than waiting in
line for a teller. It’s quick and easy.
While it’s convenient to make a deposit at one of our ATMs, you
can also make deposits in a snap with the Mobile Deposit feature
in our Mobile Banking app. This is so easy to do, you’ll be amazed.
Just snap a picture of your check with your mobile device, and it’s
deposited instantly to your account.2
Next time, before waiting in line for a teller to cash a check,
remember our HVFCU ATMs and Mobile Banking. For ATM locations
and information, go to hvfcu.org.
Subject to check verification and withdrawal limits as outlined in the Electronic Funds
Disclosure and Agreement.
1
Standard check holds apply to your deposits. Please refer to the funds availability policy in
our Truth in Savings Disclosure & Account Agreement.
2
Branch Closing Schedule
•Avoid paying for high octane gas as the benefit
doesn’t justify the cost. According to Edmunds.com,
advances in engine technology mean that even if
the owner’s manual recommends premium gasoline,
the car will typically run on regular without issue or
damage to the engine.
•Inflate your tires to the level listed in your car’s owner’s
manual, not the maximum listed on the tires. This will
help you achieve better mileage and less wear.
•Have your fluid levels checked before going on a
long trip.
•Thoroughly research online reviews of local mechanics
to find the best and most reasonable.
•Get your tires rotated at least twice a year to make
them last much longer.
•Install a vehicle service app for your mobile device
to help you remember when to perform your
maintenance.
•Avoid the rapid acceleration and abrupt braking of
“jackrabbit” driving, which uses more gas.
•Make sure your spare tire is present and in working
shape to remove the need for a tow in the case of
a flat tire.
•The old 3,000-mile oil change commandment is
outdated because technology has changed so
dramatically. According to Edmunds.com, the majority
of automakers today call for oil changes at either 7,500
or 10,000 miles. Consult your owner’s manual.
•Perform the easy task of changing your own air filter
instead of paying a mechanic to do it.
Our offices will be closed during the following times
in observance of these holidays:
October 10 – Columbus Day
November 11 – Veterans Day
November 23 – Closing at 3 pm
November 24 – Thanksgiving Day
December 24 – Closing at 1 pm
December 26 – Christmas Day (observed)
December 31 – Closing at 1 pm
January 2 – New Year’s Day (observed)
5
College Scholarships, Grants
and Loans. What do They Cover?
Students and their families have plenty of options to consider when it comes to
paying for college tuition. From scholarships to grants to loans, filling the gap can
be a confusing proposition. Before deciding what options are right for you, here
are a few important tips to keep in mind.
Start with free money. Begin by maximizing “free” money that you won’t have
to pay back, including scholarships, grants, and work-study. We’ve partnered with
Sallie Mae® to offer our members access to their Scholarship Search tool, with
more than 5 million scholarship options worth $24 billion. Scholarships can be based on residency, personal interests, grades, and
more. When you register to use Scholarship Search by Sallie Mae, you can enter a monthly $1,000 sweepstakes. No purchase necessary.
Void where prohibited. See official rules at SallieMae.com/SweepstakesRules.
Carefully consider how much money you need. Hudson Valley Federal Credit Union encourages our members to borrow
responsibly, only taking on the amount of debt you really need. Keep in mind that college costs include more than tuition – you may
need to include funds for housing, food, school supplies, transportation, a computer, and more. Once you have the total cost for the
upcoming year, subtract any scholarships or grant money you’ve received, as well as any savings you or your family plans to contribute
toward your education.
It’s important for students to borrow only what they need to fund their education, not necessarily a lifestyle. In some cases, the loan
amount offered to you might exceed the amount of money you really need to cover your expenses. To keep your debt low, determine
your budget and only borrow what you need. Also explore options like work study programs through your school or other job
opportunities that can help defray college costs.
Consider responsible gap financing. If after considering your savings, scholarships, and grants, you still come up short, a private
student loan can help to fill the gap. Hudson Valley Federal Credit Union has partnered with Sallie Mae to offer our members the Smart
Option Student Loan®. To encourage responsible borrowing, Smart Option Student Loans must be certified by the school’s financial aid
office to help ensure students borrow no more than their cost of attendance less other financial aid received. With competitive variable
and fixed interest rates, choice of deferred and in-school repayment options, and no origination fee or prepayment penalties, the
Smart Option Student Loan is a responsible way to fund your education.
For more information or to apply, visit https://studentloans.hvfcu.org/
Hudson Valley Federal Credit Union is not the creditor for these loans and is compensated for the referral of Smart Option Student Loan customers. This information is for borrowers
attending degree-granting institutions only. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.
Call for Candidates
Unlike other financial institutions, your credit union’s Board of
Directors consists of nine unpaid volunteers who are voted into
office by their fellow members. Please consider serving on the
Board of Directors by running for one of the three vacancies
available in this year’s election. All experience is welcome,
especially those with business, finance, human resources, and
information technology experience. Most important is the
willingness to serve and volunteer your time.
6
Online applications are available at hvfcu.org or call 845.463.3011
ext. 3402 to have one mailed to you. Completed applications
must be received by our Nominating Committee by Tuesday,
November 1, 2016. The Nominating Committee will review all
applications and may request a personal interview with potential
candidates in early to mid-November. Our financial cooperative
and our members benefit from a diverse group of volunteers;
please consider if you can contribute your time and talent.
Free Seminars
Maximizing Social Security Benefits
Learn key facts about Social Security and how to navigate
the decisions surrounding this program, including how
benefits are calculated, what is “full retirement age,” and
how to choose the right time to file. Seating is limited.
Register online at hvfcu.org or call 845.463.3366.
Storm Preparedness
You don’t have to be a Boy Scout to be prepared. We are heading
into the colder months, which typically means snow, ice, storms,
and possible power outages. It’s time to get ready for the
unexpected.
There are a few things you can do to make sure you and your family
are safe and comfortable until all is clear:
•Stock up on batteries, flashlights, battery-operated candles, a
first aid kit, and enough bottled water (1 gallon per person per
day) and non-perishable food to last 3 days. Other items that
could be helpful are a manual can opener and 2-way radio.
•Keep extra blankets around. Always be safe and use your
discretion when it comes to staying warm. It’s never a good idea
to use the stove for heat.
•Develop a family communication plan. How will you contact
each other and what will you do in the event of an emergency?
•Secure all loose objects around your yard (including outdoor
furniture and toys).
•Invest in a battery back-up for your cell phone. If the power goes
out and your cell phone dies, you won’t be able to communicate
with anyone, unless you still have a house phone with a cord.
And when it comes to your home, we want you to feel at ease,
knowing that it and your belongings are safe, secure, and protected.
HVFCU Insurance Agency can help compare options to make sure
your current policy meets all of your needs at an affordable price.
For a check-up or no-obligation quote, visit us online at hvfcu.org or
call 845.463.5646.
Wednesday October 19
5:30-6:30 pm
Newburgh Branch
953 Route 300
Newburgh, NY
Thursday November 3
5:00-6:30 pm
Fishkill Hyatt
100 Westage Business Center Drive
Fishkill, NY
Roadmap to Retirement
The retirement journey begins with saving for the future,
and then travels through asset allocation, consolidation,
protection and tax diversification, and finally drives to
retirement income and wealth transfer. This roadmap
introduces important conversations that investors should
consider having with their financial professional.
Thursday October 13
3:30-5:00 pm
Fishkill Hyatt
100 Westage Business Center Drive
Fishkill, NY
Tuesday October 25
5:00-6:30 pm
Poughkeepsie Hampton Inn
2361 South Road
Poughkeepsie, NY
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. Hudson Valley Federal Credit
Union and HVFCU Financial Services are not registered broker/dealers and
are not affiliated with LPL Financial.
Insurance products: Are not NCUA/NCUSIF insured | Are not obligations of HVFCU | Are not
guaranteed by HVFCU
Not NCUA Insured | No Credit Union Guarantee | May Lose Value
7
Board of Directors
Branches
Noreen Hennessy, Chairman
Takao Inouye, First Vice Chairman
Joseph E. Eppich, Second Vice Chairman
Nancy Kappler-Foster, Treasurer
Stephen M. Caswell, Assistant Treasurer
William L. Spearman, Secretary
Marianne Collins, Director
Misty V. Decker, Director
Monday-Friday 8:30-7:00 and Saturday 9:00-5:00
4 Tucker Drive, Arlington
324 Main Street, Beacon
2 Terrace Drive, Carmel
6 Schuyler Boulevard, Fishkill
101 Tillson Avenue, Highland
415 Route 376, Hopewell Junction
4011 Albany Post Road, Hyde Park
1639 Ulster Avenue, Kingston
40 Lloyds Lane, Middletown
30 Hawkins Drive, Montgomery
953 Route 300, Newburgh
265 Windsor Highway, New Windsor
12 North Avenue, Pleasant Valley
159 Barnegat Road, Poughkeepsie
6740 Route 9, Rhinebeck
11 Marshall Road, Wappingers Falls
Monday-Friday 8:30-5:30 and Saturday 9:00-2:00
1620 Route 22, Brewster
David S. Bagley, Director Emeritus
Jan Mahar Sturdevant, Director Emeritus
Henry J. Rodgers, Jr., Director Emeritus
Supervisory Committee
Jeffrey S. Battistoni, Chair
William J. Mulvey, Secretary
Carlos L. Acosta, Member
Kathleen Dispensa, Member
Tuknekah Noble, Member
Elinor Speckman, Associate Member
Daniel F. Thomas, III, Associate Member
Michael J. Young, Associate Member
845.463.6934 | 800.468.3011
P.O. Box 1624, Poughkeepsie, NY 12601
[email protected]
President & CEO
Mary D. Madden
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HVFCU ATMs
All HVFCU Branches
1 Civic Center Plaza, Poughkeepsie
Adams Fairacre Farms, Route 44, Poughkeepsie
Bridgeview Plaza, Route 9W, Highland
East Fishkill IBM Bldgs.* 300, 320, 323, 330
Gap/Old Navy Distribution Center, Fishkill*
Nine Mall, 1810 South Road, Wappingers Falls
Poughkeepsie IBM Bldgs.* 052, 416, 705
Putnam Hospital Center, 670 Stoneleigh Avenue, Carmel
Vassar Brothers Medical Center, Poughkeepsie
*Employee accessible only.
TDD (for hearing impaired)
845.463.1709
From page 1, Receive $200…
*$200 offer valid for auto and home equity loan refinances of $10,000 or more. Application must be received between 8/17/16 and 10/15/16 and loan must close/finalize by 11/15/16. All
other loan types and HVFCU refinances not eligible for the $200 offer. Limit one $200 offer per member per loan. $200 will be deposited into member’s HVFCU account of choice at funding.
Qualified loan must remain open for a minimum of 6 months from date of funding or the $200 will be forfeited and withdrawn from member’s HVFCU account. May be subject to IRS reporting.
Not valid where prohibited by law. This offer is not guaranteed if your account is not in good standing and if you do not meet our credit criteria, including providing acceptable property for
collateral. Offer may be withdrawn at any time. Certain restrictions and exclusions apply.
Federally insured by the NCUA