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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.

"Our sound lending decisions and efficient operation have kept us secure, strong and solid, which enables us to once again provide our members with this bonus dividend," said Board President Bill Beach. "Sharing our earnings with our members is one important difference between Pittsford FCU and other financial institutions," Beach continued. "In light of the current economic climate, we believe it's a difference that is more important than ever."

Bill Martin, Manager of Pittsford FCU, added, "We are proud to be financially healthy and in a position to reward the members who build relationships with Pittsford FCU. The Special Member Dividend is just another way we attempt to help our members get ahead financially. We believe the $3 million distributed under the program over the last seven years supports our commitment to improving our members' financial lives."

Qualified member-owners will receive their Special Member Dividend in January 2011. The dividend is calculated as a percentage of all dividends earned on deposits and interest paid on loans throughout 2010. As such, it directly represents a member's entire relationship with the credit union. As the combined total of savings and/or loans increases, so does the value of a member's Special Member Dividend.

 

 

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 January 28. For more information about these scholarships, call our Member Services Department at 624-7474 or (800) 836-8010.

 

 

Member Survey Results

Pittsford FCU commissioned its fifth member satisfaction survey in August, and the results, as always, were very interesting. The results indicate that members, overall, remain very satisfied with the service provided by the credit union. In fact, 85 percent of our members would recommend us to family and friends. This rate is much higher than the 65 percent average recommendation rate of members of other credit unions participating in this particular survey. Word of mouth recommendations are our most powerful means to continue our growth, and we're delighted to know so many members speak highly of their credit union.

Each time we conduct a member survey, we read through the written comments to learn as much as possible from members. Several comments revealed we need to clarify a few things to our members.

Wegmans ATM Deposits

The decision by Wegmans to discontinue accepting deposits at their ATMs was Wegmans' decision alone. In fact, we contacted Wegmans and offered to further subsidize the expense of handling deposits, without success. Wegmans stopped accepting deposits for all financial institutions, and there was no means by which we could avoid the elimination of that service. While not perfect alternatives, we do offer postage-paid deposit envelopes (we'll even mail you a supply if requested), and we pay a $50 bonus to any member establishing ACH direct deposit with us. Finally, the CO-OP ATM network includes 9,000 deposit-accepting ATMs throughout the United States and Canada. Locally, that includes Xceed Financial and Family First. Please visit us online at PittsfordFCU.org/ATM and use the CO-OP ATM Locator for more information.

24-Hour ATM in Pittsford

We have not installed a 24-hour "outdoor" or "drive-through" ATM in Pittsford due to the relatively secluded nature, after business hours, of the office park where our branch is located. The security issues related to such an isolated location in the off hours are too significant to overcome. We continue to evaluate alternatives and remain determined to ultimately provide 24-hour drive-thru ATM access in Pittsford. In the meantime, as noted above, there are many locations where members can access their accounts without a surcharge.

Fewer Envelopes

If you are receiving more than one statement envelope from Pittsford FCU each month, we do offer the ability to combine multiple statements into one mailed statement. Email or call our member service center to have us help you reduce our postage expense, as well as reduce wasted envelopes. Or, better yet, go paperless and enjoy anytime access to your eStatements and eTax forms (new this year). Click on eStatements within Internet Banking to enroll today.

Thank you to all the members who completed and returned our most recent survey. Your answers and comments provide valuable insights that helps us ensure we are meeting your needs. Also, thank you and congratulations to survey drawing winner Kristen Schell of Pittsford! Kristen was randomly selected to win a $1,000 U.S. Savings Bond.

 

 

Tools to Get You Through Tax Time

TurboTax

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.

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 Pittsford FCU's R/T #222381918. If you have any questions call 624-7474 or visit PittsfordFCU.org.

Free Tax Guides

Our free Income Tax Handbook is now available at both Pittsford FCU branches.

eTax Forms

You can now go paperless with eTax Forms. Click on eStatements within Internet Banking.

 

 

Scams Don't Take a Holiday

It's an unfortunate fact that when economic times get tough, people are particularly prone to financial scams. So Asset Recovery Specialist Stacie Figler feels it is worth repeating that arming yourself with good, old-fashioned common sense can thwart any financial scam. Please alert a Credit Union representative if a transaction you are involved in has any of these tell-tale signs:

  • It sounds too good – or bad – to be true.
  • It involves sending money back to the sender for overpayment or taxes on winnings.
  • It involves divulging personal and/or financial information during an unsolicited call or email.

Here are some situations recently presented to Pittsford FCU members:

  • You've won a free iPad, and all you pay is shipping with a credit card.
  • Your nephew was arrested while vacationing and needs bail money wired.
  • You've won a lottery; just deposit this check and send us a small processing fee by Western Union.
  • Your debit card has been compromised, please verify your card number and PIN.

Remember, scammers generally want you to make a quick decision and typically insist you give them a credit card number or send funds by wire transfer or Western Union. Disarm them by telling them you have to verify or research the offer.

 

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Credit Union. All rights reserved.
Your savings Federally Insured to at least $250,000 and backed by the full faith and credit of the United States Government.  National Credit Union Administration, a U.S. Government Agency.