*Stated Annual Percentage Rates (APR) shown are accurate as of 08/12/21. Rates apply to Fixed Rate Home Equity Loans at 85% Combined Loan to Value (CLTV). Other rates and terms are available. Consult your tax advisor for tax-deduction eligibility on Home Equity Loans. Property Insurance is required. A 2.99% APR, 60 month home equity loan costs $17.97 per month per $1,000 borrowed. A 3.24% APR, 84 month home equity loan costs $13.33 per month per $1,000 borrowed. A 3.45% APR, 120 month home equity loan costs $9.87 per month per $1,000 borrowed. Rates and terms are subject to change. Rates subject to credit approval. The Credit Union reserves the right to change any conditions of these programs, or to withdraw them, without prior notice. Contact a Loan Representative at a branch nearest you for an application or apply online at www.flfcu.org. New money only. Please check with a Member Service Representative for membership eligibility requirements. Not a member? Join today! An Equal Housing Lender. This Credit Union is Feder-ally Insured by the National Credit Union Administration. NMLS ID 493624.

Members Matter Just for the valued members of our Credit Union | Summer 2021

• Auto Loans ......................................... 2• FL Time Reader Choice Award..... 3• Scholarship Winners ...................... 4-5• Retirement Investments................ 6-8• New Hires ........................................... 8

We have a Home Equity Line of Credit to Fit Your Life!Make your dreams a reality with our low Home Equity rates. Stop putting off the important things in life by securing a rate as low as 2.99% APR* for 60 months! Use the money to fund things like a college education, medical expenses, a dream vacation, wedding, or finally completing long sought after home renovations.

No Closing Costs or Annual Fees ~ Borrow up to 85% of your Home's Equity ~ Flexible Repayment Terms

Stop by, give us a call, or check out our website www.flfcu.org (for Fairport CU - www.fairportcu.com) to learn more.

Follow Us!Now there are more ways to connect with your Credit Union than ever before. Check us out in the social media space of your choice.

Search for Finger LakesFederal Credit Union and ‘Like’ us on Facebook!

Follow us on Instagram (FingerLakesFCU). We post community-related Credit Union events and activities.

Find us on Twitter! We’re @FingerLakesFCU and we post the latest credit union info for you.

Bulletin Board

Holiday Closings

Get the Car You Want, at the Rate You Deserve!

Let us make your next auto purchase as easy as possible by getting pre-approved. Our auto loan rates start as low as 1.70% APR* for 48 months. Now is the time to apply.

Our convenient online application takes only a few minutes to complete and you will receive a response from one of our highly dedicated lenders within 1 business day.

• Fixed Rate & Payment• Terms up to 84 months• No prepayment penalties• Quick application process

Let us help you get the vehicle you have been dreaming of by contacting us today. To apply:• Call (315) 781-1334 (FLFCU) or (585) 223-9151 (Fairport CU)• Or Apply Now

*APR = Annual Percentage Rate. Stated 1.70% APR applies to a new vehicle loan with a term of 48 months, direct deposit, and automatic payments. Payments on a loan with a 48 month term at 1.70% APR would be $21.57 per $1,000 borrowed. Stated rate applies to the highest credit score pricing tier. Rates vary upon credit score. Rates and terms vary based on model year of vehicle, term of the loan, and amount financed. Other rates and terms are available. Vehicle loans refinanced from other financial institutions are eligible for this special offer, however existing FLFCU auto loans are not eligible for refinancing. The Credit Union reserves the right to change any conditions of these programs, or to withdraw them, without prior notice. Contact a Loan Representative at a branch nearest you for an application or apply online at www.flfcu.org. See Member Service Representative for membership eligibility requirements. Not a member?

Join today!

This Credit Union is federally insured by the National Credit Union Administration.

Auto Loans

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Click to Apply Now

Search for Fairport Credit Union and ‘Like’ us on Facebook!

The Credit Union will be closed to observe the following holidays:

Labor Day:Saturday, September 4th, and Monday September 6th Columbus Day:Monday, October 11th

Veterans Day:Thursday, November 11th

Thanksgiving Day:Thursday, November 25th

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Did You Know?FLFCU was voted Best Credit Union in the Finger Lakes!Best Credit Union of the Finger Lakes – Four years in a row!

We are so honored that for the fourth year in a row, we have been voted the best Credit Union in the Finger Lakes Region in the 2021 Finger Lakes Times Reader’s Choice Awards. It is a testament to our loyal members whom we love. We are as much a service organization as we are a financial institution. We earn that member loyalty through the incredible service that our staff provides over time.

Congratulations to our scholarship winners! Every year, the Credit Union awards three scholarships to local high school seniors.

The Gene McFadden Scholarship Award - $1,000

Emily McFadden- a senior at Geneva High School. Emily has been accepted into Cornell University and will major in Plant Sciences.

The Gene McFadden Scholarship Award. This $1,000 scholarship was created to honor Gene McFadden, the first manager and one of the founders of what is now called Finger Lakes Federal Credit Union. Credit Unions exist due to the dedication and spirit of volunteerism that people like Gene exhibit. The scholarship is a continuation of Gene’s legacy with Finger Lakes Federal Credit Union and promotes the “people helping people” philosophy that was so important to Gene.

The scholarship selection committee was comprised of many credit uniom employees from several participating credit unions in the Rochester Chapter of NY State Credit Union Association.

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FLFCU Scholarships

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FLFCU ScholarshipsFLFCU ScholarshipsThe Laurie Monahan Memorial Scholarship Award - $750

Abraham Porschet- a senior at Geneva High School. Abraham plans to major in Math and will be attending Swarthmore College in the fall.

The Laurie Monahan Scholarship Award. The Credit Union established a $750 memorial scholarship in memory of Laurie A. Monahan, a beloved Credit Union employee of 22 years. Laurie worked in various positions during her Credit Union career including Member Services, the Information Technology Department, and most recently in the Loan Department. Laurie demonstrated attentiveness to members’ needs and concerns and a sincere commitment to delivering exceptional personal service. With this scholarship, Laurie’s memory and devotion to service continues.

FLFCU Scholarship Award - $500

Bella Albano- a senior at Pittsford Mendon High School. Bella will be attending Northeastern University in the Fall and plans to major in Health Sciences and Business Administration.

All applicants were judged on their academic performance, extracurricular and community service activities, leadership positions, and honors and awards. The Credit Union wishes these seniors, and all our scholarship applicants, all the best in their academic endeavors.

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Don't forget that while they are sound strategies, asset allocation and diversification can't guarantee a profit or protect against the possibility of loss. All investing involves risk, including the possible loss of principal, and there can be no guarantee that any investing strategy will be successful. Past performance is no guarantee of future results.

The right approach during all kinds of markets is to be realistic. Have a plan, stick with it, and strike a comfortable balance between risk and return.

Handling Market Volatility Conventional wisdom says that what goes up must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when your money is at stake. Though there's no foolproof way to handle the ups and downs of the stock market, the following common-sense tips can help.

Don't put your eggs all in one basket Diversifying your investment portfolio is one of the key tools for trying to manage market volatility. Because asset classes often perform differently under different market conditions, spreading your assets across a variety of investments such as stocks, bonds, and cash alternatives has the potential to help reduce your overall risk. Ideally, a decline in one type of asset will be balanced out by a gain in another, though diversification can't eliminate the possibility of market loss. One way to diversify your portfolio is through asset allocation. Asset allocation involves identifying the asset classes that are appropriate for you and allocating a certain percentage of your investment dollars to each class (e.g., 70% to stocks, 20% to bonds, 10% to cash alternatives). A worksheet or an interactive tool may suggest a model or sample allocation based on your investment objectives, risk tolerance level, and investment time horizon, but that shouldn't be a substitute for expert advice.

Focus on the forest, not on the trees As the market goes up and down, it's easy to become too focused on day-to-day returns. Instead, keep your eyes on your long-term investing goals and your overall portfolio. Although only you can decide how much investment risk you can handle, if you still have years to invest, don't overestimate the effect of short-term price fluctuations on your portfolio.

Look before you leap When the market goes down and investment losses pile up, you may be tempted to pull out of the stock market altogether and look for less volatile investments. The modest returns that typically accompany low-risk investments may seem attractive when more risky investments are posting negative returns. But before you leap into a different investment strategy, make sure you're doing it for the right reasons. How you choose to invest your money should be consistent with your goals and time horizon. For instance, putting a larger percentage of your investment dollars into vehicles that offer asset preservation and liquidity (the opportunity to easily access your funds) may be the right strategy for you if your investment goals are short term and you'll need the money soon, or if you're growing close to reaching a long-term goal such as retirement. But if you still have years to invest, keep in mind that stocks have historically outperformed stable-value investments over time, although past performance is no guarantee of future results. If you move most or all of your investment dollars into conservative investments, you've not only locked in any losses you might have, but you've also sacrificed the potential for higher returns.

Investments & Retirement

Investments seeking to achieve higher rates of return also involve a higher degree of risk.

Look for the silver lining A down market, like every cloud, has a silver lining. The silver lining of a down market is the opportunity to buy shares of stock at lower prices. One of the ways you can do this is by using dollar-cost averaging. With dollar-cost averaging, you don't try to "time the market" by buying shares at the moment when the price is lowest. In fact, you don't worry about price at all. Instead, you invest a specific amount of money at regular intervals over time. When the price is higher, your investment dollars buy fewer shares of an investment, but when the price is lower, the same dollar amount will buy you more shares. A workplace savings plan, such as a 401(k) plan in which the same amount is deducted from each paycheck and invested through the plan, is one of the most well-known examples of dollar cost averaging in action. For example, let's say that you decided to invest $300 each month. As the illustration shows, your regular monthly investment of $300 bought more shares when the price was low and fewer shares when the price was high:

Although dollar-cost averaging can't guarantee you a profit or avoid a loss, a regular fixed dollar investment may result in a lower average price per share over time, assuming you continue to invest through all types of market conditions. (This hypothetical example is for illustrative purposes only and does not represent the performance of any particular investment. Actual results will vary.)

Making dollar-cost averaging work for you

Get started as soon as possible. The longer you have to ride out the ups and downs of the market, the more opportunity you have to build a sizable investment account over time.

Stick with it. Dollar-cost averaging is a long-term investment strategy. Make sure you have the financial resources and the discipline to invest continuously through all types of market conditions, regardless of price fluctuations.

Take advantage of automatic deductions. Having your investment contributions deducted and invested automatically makes the process easy and convenient.

Don't stick your head in the sand While focusing too much on short-term gains or losses is unwise, so is ignoring your investments. You should check your portfolio at least once a year — more frequently if the market is particularly volatile or when there have been significant changes in your life. You may need to rebalance your portfolio to bring it back in line with your investment goals and risk tolerance. Rebalancing involves selling some investments in order to buy others. Investors should keep in mind that selling investments could result in a tax liability. Don't hesitate to get expert help if you need it to decide which investment options are right for you.

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Investments & Retirement

Staff News

Finger Lakes Federal Credit Union has announced the recent appointment of Lynn Dunn as Branch Manager of Webster Credit Union (a division of Finger Lakes FCU). Lynn comes to the Credit Union with nine years of lending and branch operations experience most recently with Fairport Savings Bank. Lynn has worked in the local Fairport, Penfield & Webster markets and is looking forward to building her client base in this market.

“I am very proud to tell family, friends and community members that I work for Finger Lakes Federal Credit Union. I am excited to promote and grow our new Webster location. I look forward to becoming actively involved in the Webster community.” stated Lynn Dunn. “On my first day, I was amazed how friendly and welcoming all the staff was to a new employee. I felt as though I’ve been part of the Credit Union family for many years.”

Dunn graduated with a bachelor’s degree from SUNY Oswego. She lives in Perinton with her husband Ricky, their daughter Carly and dog Rossi. Lynn volunteers and is active in the community. She has served on the Financial Committee of the Fairport Perinton Merchant

Association in past years. Also volunteering with the Fairport Music Festival, Pirate Toy Fund, March of Dimes and Annual Happiness House walk.

New Hire

Don't count your chickens before they hatch As the market recovers from a down cycle, elation quickly sets in. If the upswing lasts long enough, it's easy to believe that investing in the stock market is a sure thing. But, of course, it never is. As many investors have learned the hard way, becoming overly optimistic about investing during the good times can be as detrimental as worrying too much during the bad times. The right approach during all kinds of markets is to be realistic. Have a plan, stick with it, and strike a comfortable balance between risk and return.

Higgins Financial Services is located at 6819 Pittsford Palmyra Road, Suite 100 in Fairport NY 14450. They can be reached at 585-223-2500. Securities and investment advisory services offered through Royal Alliance Associates, Inc. (RAA), member FINRA/SIPC. RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA. Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individuals personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice. This communication is strictly intended for individuals residing in the state(s) of AL, CA, IA, MD, NE, NJ, NY, OH, PA and VA. No offers may be made or accepted from any resident outside the specific states referenced. Prepared by Broadridge Advisor Solutions Copyright 2021.

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Investments & Retirement

Fairport Officea division of Finger Lakes

70 S Main StreetFairport, NY 14450

(585) 223-9151www.fairportcu.com

Hours:Monday – Thursday: 9:00 AM – 5:00 PM

Friday: 9:00 AM – 5:30 PMSaturday: 9:00 AM – 12:30 PM

24-Hour Walk-Up ATM on premises

Webster Officea division of Finger Lakes

815 Ridge RoadWebster, NY 14580

(585) 671-8900www.websterfcu.org

Hours:Monday – Wednesday: 10:00 AM – 4:00 PM

Thursday, Friday: 10:00 AM – 5:00 PMSaturday: 9:00 AM – 12:00 PM

BOARD OF DIRECTORSBob Stivers, Chair

Jamie McDowell, Vice ChairPatrick McGuire, Treasurer

Kelly Ernst, SecretaryReed BalewskiTrudy Bantle

Doreen HoveyJoan Leonard

R.J. Passalacqua, Jr. Lara Chatel Turbide

Edward Wright

BOARD ADVISORYErin Hughes Brian Natale

SUPERVISORY COMMITTEERobert McCann, Jr., Chair

Scott Avedisian

Christine BurkeCarrie FiorillaDoreen Hovey

Main Office 27 Seneca Street

PO Box 433 Geneva, NY 14456

(315) 781-1334www.flfcu.org

Loan Line: (315) 781-2945

Hours:Monday – Wednesday: 9:00 AM – 4:30 PM

Thursday: 9:00 AM – 6:00 PMFriday: 9:00 AM – 5:00 PMSaturday: 9:00 AM – Noon

24-Hour Walk-Up ATM on premises

Ovid Office 7116 County Road 132

(Willard) Ovid, NY 14521(607) 869-5315

www.flfcu.org

Hours:Monday, Tuesday: 9:00 AM – 4:00 PM*

Wednesday: 9:00 AM – 5:00 PM*Thursday: 9:00 AM – 6:00 PM*

Friday: 9:00 AM – 4:00 PM*Saturday: Closed

*Closed Each Day: 11:00 AM – Noon24-Hour Walk-Up ATM on premises

Phelps Office1934 State Route 96

PO Box 96Phelps, NY 14532

(315) 548-2100www.flfcu.org

Hours:Monday – Wednesday: 9:00 AM – 4:30 PM

Thursday: 9:00 AM – 6:00 PMFriday: 9:00 AM – 5:00 PM

Saturday: Closed

Drive-Thru (2 Lanes):Monday – Wednesday: 9:00 AM – 4:30 PM

Thursday: 9:00 AM – 6:00 PMFriday: 9:00 AM – 5:00 PM

Saturday: Closed24-Hour Drive-Thru ATM on premises

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