Volume 49 Number XIX Quarter 3 2017

Providing Financial SolutionsE V E R Y D AY !

907 BROADWAY, ELMIRA, NEW YORK 14904 • (607) 734-7144

website: solutionscu.orgemail: sfcu@stny.rr.com

audio response line: 735-9716

hours: Monday 8:30 am - 5:00 pmTuesday & Wednesday 8:30 am - 4:30 pm

Thursday & Friday 8:30 am - 5:30 pmFederally insured by NCUA, We do business in accordance with the Federal Fair Housing Law. Approval for financing is subject to lending guidelines and credit qualifications.

Holiday Closings

Columbus DayMonday October 9th

ThanksgivingThursday, November 23rd

Friday, November 24th

Christmas DayMonday December 25th

New Year’s DayMonday January 1st

Christmas Club

Christmas Club Funds will be transferred into your savings accounts on Monday October 16th . We no longer send out checks as it is costly and we find most want the funds accessible with their VISA Check card. New clubs to start at the end of October, start early for next year ***all new and reopened Christmas clubs will be in the drawing for a chance to win one $100.00 VISA gift card or one of two $50.00 VISA gift cards.

Savings rates

Many may not know that if you compare our savings rate of .25% to others in the area you will see that we are 2 to 5 times higher than most financials in our area. We understand the importance of giving you our members a return on your investment with us. We will continue to strive at giving a decent and generous return as we understand that without your trust and deposits we are unable to help those who need loans and provide services that meet your needs. Thank you and we hope to continue to offer as high a rate of return as possible.

Line of credit wisdom

We offer a line of credit personal loan product. This product is very convenient and eliminates the need to repeatedly fill out loan applications. Once an amount is approved it stays there and as it gets paid down the unused approved amount becomes available. There are two exceptions to this, one is when the credit score and or credit report change in a negative direction. The other is when we see that the limit year after year is not decreasing. So our wisdom on this product is to use it wisely and not to start depending upon it constantly. This means if you are having to use it every time the minimum amount to borrow is available you may be starting to depend on that line as part of your monthly expenses. If this starts it becomes imperative for us to lower the limit in an effort to keep you from getting into financial problems and a possible bankruptcy situations. Remember it’s there for emergencies, it’s there for indulgence in a controlled manner but we hope it gets used and not abused as it has been a very popular and successful product.

Skip – A – Payment Can make your Christmas time less stressful!

Why worry about a loan payment? For a small fee you can skip that payment for the month of December and concentrate on having a great Christmas season for you and your family. Stop by for more information on this effective and popular program.

STAFF MEMBERSManager ......................................................................................Tom WoodLoan Officer..............................................................................Sue StantonSenior Member Rep .............................................................Barbara HarrisChief Finance Officer ...........................................................Jennifer AntesMember Rep. ........................................................................... Hillary DavisMember Rep .............................................................................Judi BedzykMember Rep ............................................................................. Kylie Marsh

BOARD MEMBERSPresident ...............................................................................Martin MasonTreasurer .....................................................................................Tom WoodSecretary .........................................................................Steven BarnsteadDirector ....................................................................................John PolcynDirector .................................................................... Anthony DeGuglielmoDirector ...................................................................................... Jim MaherDirector .............................................................................. Delores Morgan

SUPERVISORY COMMITTEEChairman ............................................................................Rodney StrangeMember ...............................................................................John EastwoodMember .................................................................................. Dennis WolfeMember ....................................................................... Charline Cummings

New Vehicle (Sticker Price including Used VehicleWarranty, registration, taxes) (2013-2009) 115% of NADA Book Loan Rate Term Loan Rate Term (2018 – 2014)2.95 % to 9.45% 36 to 84 months 3.95% - 10.45% 36 to 72 mos.(66 mos. If over $8,000.00) (72 mos. If over $10,000.00) 2010 newer (84 mos. If over $20,000.00)

**This term for A & B paper only

PERSONAL LOANSUnsecured Loans $10,000.00 maximum. Secured Loans up to $25,000.00(Line of Credit or Term)Loan Rate Term Loan Rate Term7.5% - 14% 12 to 60 mos. 6.5% - 13% 12 to 72 mos.

Consolidation Loan (must be secured) 11.25% - 17.75% up to 48 months

LOAN RATES FOR THE MONTH OF OCTOBER 2017(PARTIAL LIST) for full list go to our website

(.25% OFF ALL DIRECT DEPOSIT ACH PAID LOANS) REVERTS BACK IF STOPPED.(.25% OFF WITH ACTIVE SAVING & CHECKING ACCTS. MIN. 3 TRANS MONTHLY ON EACH)

Share Secured Loan 2.50% Fixed Rate for 84 months.

Home Equity LoansMember pays the following Appraisal fee, Mortgage Tax, Recording Fees, Title Search, and Flood Certification.

Home Equity Loans fixed (Short Term)Loan Rate Term (finance 80% of appraised value) (finance 70% appraised second position) 4.25% (fixed) 84 mos. ($100,000.00 maximum loan amount) 4.50% (fixed) 180 mos. ($15,000.00 minimum loan amount)

Rental Property Loan Product$49,500.00 Maximum Limit, 84 mos., 50% appraised value, 9.75% Member pays all closing costs.

****RATES SUBJECT TO CHANGE WITHOUT NOTICE*******THE RATE OFFERED IS DETERMINED BY YOUR CREDIT HISTORY***

minimum loan rate allowed is 1.95% up to 84 months.

Presidents Comments If I speak with tongues of men or of angels, but do not have love, I am only a resounding gong or a clanging cymbal. If I have the gift of prophecy and can fathom all mysteries and all knowledge, and if I have a faith that can move mountains, but do not have love, I am nothing. If I give all I possess to the poor and give over my body to hardship that I may boast, but do not have love, I gain nothing. Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrong. Love does not delight in evil but rejoices in the truth. It always protects, always trusts, always hopes, always perseveres. I Corinthians 13 1-4.

These words from the Bible go along with the credit union motto of “people helping people” when we stop caring for each other we stop being effective as a credit union. I have never been more convinced that we need to remind everyone the importance we have to love one another . Paul in Corinthians goes on to say there is no Jew nor Greek nor free nor slave but all are in Christ. Isn’t that what the world is asking for equality, to be evaluated on the basis of who you are as a person with worth and dreams and a future. It is my sincere hope that at least occasionally we meet this standard of commitment. In this day of self let us remember others and with joy and thanksgiving in our hearts care for one another and put someone else’s needs above our own.

**If financing 1.16% or more of NADA book rate is 6.50% to 14.00% (New or Used vehicles) 72 mos. Max

Thanksgiving Thoughts

“So while it is true that Thanksgiving only comes but once a year, we should actually celebrate thanks each and every day. It’s just a matter of learning to live with a spirit of gratitude.” Unknown

“To be grateful is to recognize the love of God in everything He has given us – and He has given us everything. Every breath we draw is a gift of His love, every moment of existence is a grace, for it brings with it immense graces from Him.” –Thomas Merton-

God Bless You All this Thanksgiving Day!

Quotable Quote

“I place economy among the first and most important republican virtues, and public debt as the greatest of dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt…. I am for a government rigorously frugal and simple.” –Thomas Jefferson

Christmas Loan Special $2,000.00 max 4.95% rate 10 month term.

This Quarter’s CharitiesArctic League and Food Bank