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Still Time to Help with Relay Race

On Tuesday, June 7, members of the Pittsford FCU Phone Center dressed up in green to support the credit union's "Go Green" campaign to raise money for the upcoming Relay For Life. Through July 9, 2011, the credit union will donate $5 to the Relay for each separate account on which paper statements are canceled. After talking up the cause during phone calls and emails with members, the Phone Center staff raised $65 by the end of the day.

The goal of the Relay For Life is to create a world with less cancer and more birthdays. On Saturday, July 9, Pittsford FCU will be sending a team of walkers to Pittsford Sutherland High School to participate in the Relay.

If you've already canceled your paper statements, there are other ways to contribute to the cause:

  • Make a donation and/or join our relay team at PittsfordFCU.org/relay.
  • Purchase a luminaria for $5 at our Pittsford branch. Luminarias will be lit during a special relay ceremony in honor, support, or memory of loved ones who have been affected by cancer.
  • Purchase a gift basket raffle ticket at either branch, or during the relay event ($2 for one chance; $5 for three chances).

As of June 24, Pittsford FCU had raised $2,064 – just $186 away from our goal of $2,250. Donate or join our team today to help us reach our goal! For more information, visit us at PittsfordFCU.org/GoGreen and click on "Learn More about the Relay For Life."

Photo: Pittsford FCU Phone Center staff member Dave Presby wears green to support the credit union's "Go Green" campaign.

* Raised amount as of 6/24/11. Click here to see the current amount raised.



Kids Earn 5% with In The Money Certificate

Summer is the time of year when parents traditionally bring in their children and introduce them to the benefits of Pittsford FCU membership. Of course, these benefits include an occasional ice cream treat on a hot Friday afternoon or a stop at the very-popular candy bowl, but what's more important is the life lesson of the value Pittsford FCU membership provides.

That value begins with our 5% In The Money Certificate for children up to age 21 and continues with the ability to learn and earn up to $75 when a teen member opens his or her own checking account with direct deposit and completes our online checking account management course. What a great opportunity for teens starting their first summer jobs.

Visit us at PittsfordFCU.org/Youth for all In The Money Account details.



Handling Periodic Expenses

Do you struggle to come up with the cash to pay your car insurance, property taxes, or other periodic expenses? If so, you are not alone. Things like food and gas are always on your radar, but if you only pay for something once or twice a year, it is very easy to forget to budget for it. However, a little planning can make paying for recurring expenses much easier.

The first step is to figure out what periodic expenses you have and how much they cost per year. You may want to look through your bills or checking account statements to help you remember them all. List both fixed expenses, such as insurance, as well as variable expenses, like car repairs. Obviously, you will not know to the penny what you will be spending on variable expenses, but you can take an educated guess.

Next, for each of these expenses, divide the yearly cost by 12 to get the per-month amount. That way, you can start thinking of it as a monthly expense. Your car insurance is not costing you $600 every six months – it is costing you $100 a month. (Sure, mathematically they are equivalent, but it is much easier to come up with $100 on the spot than it is $600.) Instead of paying this amount to a business, like you do with regular expenses, just put the money aside in a savings account each month.

While you can put everything in one savings account (don't leave it in a checking account), many people prefer establishing separate accounts for different purposes. Not co-mingling funds can make it easier to, for example, not blow the money for your car insurance on your vacation. Simply set up special savings accounts. After you have set up the desired number of accounts, determine how much you want to go into each one. If possible, have some of your paycheck directly deposited into your savings account(s) or set up a regular automatic transfer from your checking account to your savings account(s).

If, despite your best efforts, you are unable to save enough to pay your expenses on time, talk to whomever you owe. Can you lower any penalties by paying what you can now? Can you set up a monthly payment plan? Charging things to your credit card when you cannot pay off the balance in full the next month is usually not wise, but in this case, it could be the best option if the interest you are charged on your card is less than the fees you are charged for paying the bill late. However, you don't want to make it a habit. If you currently cannot put enough in savings to cover periodic expenses, it is a good idea to examine your expenses to see what you can cut to free up cash.

By thinking about recurring expenses year round, they won't be a cause of alarm every time they come due. For more information about budgeting, contact our partners at BALANCE where financial education is available to you free of charge as a Pittsford FCU member.



Member Appreciation

Join us for a special Member Appreciation Day on Friday, July 29, 2011. We will be serving hot dogs, chips, drinks, and ice cream at each branch. Feel free to bring your friends, neighbors, or co-workers.



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A Fond Farewell

We would like to bid a fond farewell to Anne Bubacz, who is retiring in July after working in the Accounting Department for 15 years. In addition to her accounting related duties, Anne also assisted members in a variety of ways throughout the years.

Anne is planning on spending her newfound free time traveling with her husband, Ken, as well as spending time with her children, grandchildren, and her many hobbies. We wish Anne the best and are very appreciative of all that she has done to help the members and the staff of the Credit Union. Congratulations Anne! Enjoy your retirement.



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