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Special Member Dividend announced
Pittsford Federal Credit Union’s Board of Directors is pleased to announce that an extraordinary dividend will be distributed to Pittsford FCU member-owners for the sixth consecutive year. In December, the volunteer Board approved the payout, totaling just over $250,000. Since the program’s inception, more than $2.75 million has been paid as Special Member Dividends.
“The Special Member Dividend program is a powerful differentiator and a wonderful way to remind members of the Credit Union’s success,” stated Bill Beach, President of the Board. “As a volunteer board, we are committed to giving back to the membership whenever possible. Equally important, we were able to pay the extraordinary dividend even though we offered market-leading rates on deposits and loans throughout all of 2009.”
“The Special Member Dividend is the result of a surplus in the Credit Union’s operating budget due to such factors as managed growth, technological advances, and an outstanding effort by every one of our remarkable, dedicated employees,” said Bill Martin, General Manager of Pittsford FCU. “Every day we strive to show members that we are very different from the typical financial institution. It’s important to remember that our members are the reason for our success. Rewarding them for their loyalty and support, especially in these challenging financial times, is the right thing to do. Working toward our goals provides us a very real opportunity to focus on helping our members get ahead financially,” explained Martin.
Qualified member-owners will receive their Special Member Dividend in January 2010. The dividend is calculated as a percentage of all dividends earned on deposits and interest paid on loans throughout 2009. As such, it directly represents a member’s entire relationship with the credit union. The larger savings and/or loan balances a member has, the greater their special dividend will be.
FinanceWorks added to Internet Banking
Pittsford FCU is pleased to announce the addition of FinanceWorks™ to our list of online services. FinanceWorks is accessed by logging into Internet Banking. It’s main purpose is to help members analyze spending habits, set budgets and understand what you really have available to spend.
FinanceWorks, which is powered by Quicken, allows you to connect to more than 16,000 financial institutions and see them all in one convenient location. Alerts and reminders help you pay bills on time and get timely updates about your accounts. You can even link directly into Bill Pay to schedule payments. FinanceWorks automatically categorizes your transactions from your accounts so you can control spending more easily, stay on budget, and save more. Even get organized at tax time – Tax Watch report tracks tax deductible expenses such as charitable contributions. These are just a few features of FinanceWorks. Log into Internet Banking to learn more.
New TurboTax feature added to Internet Banking
Preparing your own taxes with TurboTax® is now easier than ever – it’s right inside Pittsford FCU’s Internet Banking. Just log into Internet Banking at PittsfordFCU.org and click on the “My TurboTax” tab to get started.
TurboTax guides you through your taxes step by step and finds all the deductions and credits you deserve. TurboTax even has help designed specifically for first-time users.
- Save you time by bringing in personal, tax and direct deposit information right from your Pittsford FCU account
- Provide answers to your commonly asked tax questions on every screen
- Process your refund easily with e-file and direct deposit into your Pittsford FCU account.
Tax time tips
E-filing – Electronic filing can save you time and get your refund deposited to your account more quickly. To ensure proper credit to the account you designate, use the account number listed on your statement and PFCU’s R/T #222381918. If you have any questions call 624-7474 or visit PittsfordFCU.org.
Free Tax Guides – PFCU is again offering our free Income Tax Handbook, now available at both PFCU branches.
Scholarships for high school seniors
Pittsford FCU is once again presenting college-bound high school seniors with the opportunity to compete in three scholarship programs: Rochester Chapter of New York State Credit Unions Scholarship Program, The Credit Union Association of New York (CUANY), plus Pittsford FCU will be awarding five additional $1,000 scholarships exclusively to Pittsford FCU member-applicants. The process starts with one application, which is available for download at PittsfordFCU.org or pickup at either branch location.
With the increase in college costs, this is an opportunity high school seniors shouldn’t pass up. Just don’t delay! The application deadline for all scholarships is February 5. For more information about these scholarships, call our Member Services Department at 624-7474 or (800) 836-8010.
Online defensive driving course available through Pittsford FCU
Pittsford FCU members can now take the New York Defensive Driving Course offered by the American Safety Council from the comfort of your own homes. Completion of this online course will provide you with an insurance discount and help you protect your license. It is fully approved by the New York State Department of Motor Vehicles.
As a benefit of membership, Pittsford FCU is offering this course at the discounted rate of $25 – that’s almost half off the regular price. To get more information and register for the course, visit PittsfordFCU.org/driver.
Check your credit report
In the process of helping members with loans and other financial decisions, Member Service Representative Sharon Parrotta often reminds members of the importance of checking their credit reports on a regular basis.
Your credit report can affect your ability to purchase a home, rent an apartment, buy a car, receive favorable insurance rates, or even get a new job. Further, checking your credit report regularly is a crucial step in protecting yourself from fraud or inaccurate reporting.
It’s recommended you check your report once a year, and before any major purchase or life-change. You have the right to a free report each year from each of the three major credit bureaus, and the only source for a truly free credit report is the Annual Credit Report Request Service at www.annualcreditreport.com or (877) 322-8228.
One benefit of your Pittsford FCU membership is access to BALANCE, a financial fitness program. Once you receive your credit reports, Sharon recommends you arrange to review them with a balance financial counselor. BALANCE credit report review and education include the following: understanding your credit score, correcting inaccuracies in your report, improving your credit standing, protecting against identity theft and fraud, and overcoming identity theft. You can access BALANCE services through the Resource Library link at PittsfordFCU.org or by phone at (888) 456-2227.