Making Life Better

October 2012

A quarterly credit union publication for HRCCU members.

Have you been putting off home repairs like a new roof or windows? Need a new furnace? Or just want to upgrade that kitchen or bathroom?

Make those energy-efficient improvements just in time for winter with an HRCCU

home loan.

Now is the time to apply for an HRCCU home loan. With rates like this, why wait?

Call, click or stop by today!

YOUR OWNER’S GUIDE TO HRCCU

How To Budget Your Money

A budget is a plan that allows you to set spending goals and track your actual cash flow to make sure you’re staying within the boundaries you’ve set for yourself. Charting and sticking to a budget will give you a good picture of your spending habits and can help you make better choices in the future.

Determine your overall income and track what you spend. A budget is a plan for how you’re going to spend the money you have coming in for the expenses you have going out. Break down your expenses into two categories: essential and non-essential. Look through these lists to find areas where you can cut back.

Spend less than you earn. No matter how much you earn, you’ll never get ahead if you spend more than you earn. A little cost-cutting effort in a number of areas can result in big savings. If your bills exceed your net earnings, you must revamp your spending habits giving priority to necessities.

Consolidate credit card debt. Consolidating debt may help to reduce your monthly payments and get you on a faster track to reducing your overall credit burden. You may also be able to lower your cost of credit by consolidating your debt through a home equity line of credit. These loans may provide certain tax advantages that are not available with other kinds of credit.

Avoid Credit Card Interest Charges. Use debit or cash where possible. Swiping a plastic card has become incredibly easy.With both credit and debit cards, we can have our purchase in a matter of seconds. However, this convenience comes at a cost. By using plastic we can begin to lose track of how much we actually spend. And with interest charges, the item you bought on sale may actually cost more in the long run.

Efforts to stay within a budget will build new spending habits that can be maintained over time. If you follow these tips, you can create a viable budget that will help you achieve peace of mind and eliminate many financial worries. Contact HRCCU for options on savings and debt reduction.

Cathy Straight Sr. VP of Financial Services

Rates start as low as:

2.75% A.P.R.*

Time to Remodel?

*A.P.R. = Annual Percentage Rate. A.P.R. listed herein is applicable on a 5/5 adjustable rate mortgage (ARM) loan to value (LTV) less than 50% with HRCCU in first position as lien holder and assumes applicant has a credit score of 730+. Eligible members must credit qualify and have automatic payments made from an HRCCU share draft checking account. Checking account must remain active otherwise HRCCU may increase the A.P.R. by .25%. Annual percentage rate is fixed for 5 years and reprices annually thereafter. The A.P.R. cannot increase more than 2% per change period and not more than 6% over the initial A.P.R. during the life of the loan. Other A.P.R.s and terms available. Rates/terms subject to change without notice. HRCCU will pay a portion of closing costs and member will be responsible for any fees over this amount that are not paid by HRCCU. Mortgage tax varies slightly by county but could be estimated at $10 for every $1,000 borrowed. Additional fees, including but not limited to: appraisal; recording; attorney; title; etc. will vary depending on loan amount and type. Member may qualify for a one time rate relock prior to the expiration of the initial term for a fee of $500. The relock rate will be the prevailing HRCCU A.P.R. that member qualifies for at time of relock. The minimum loan amount available is $10,000 and maximum $417,000. If your home loan is paid off within 36 months, all closing costs paid by HRCCU will be added to the loan payoff amount. Closing costs you may be required to reimburse HRCCU are estimated at $1,000. NOTE: Home loan financing may be tax deductible. Consult your tax professional about deductibility in your situation. Equal Housing Lender.

HRCCU Member Services Representative Jennifer Moore awards a check to Speigeltown

Fire Department President Kim Franklin. Speigeltown Fire Department was the selected

Community Hero for the month of April.

HRCCU salutes our Local Community Heroes and thanks them for their commitment and their service.

As a not-for-profit financial cooperative, HRCCU shares the same values as our local charitable Community Service Organizations and the commitment to our communities as our local paid and volunteer first responders, teachers, nurses, care givers as well as active and retired military personnel.

HRCCU donates $5 for each new member/owner account opened (along with a new product or service adoption at the time of account opening) and for each member/owner who adds a new product or service during the month. Help your Credit Union support our Local Community Heroes while doing good for yourself, too!

Community Heroes

VISA® GIFT CARDS MAKE GREAT HOLIDAY GIFTS!

HRCCU VISA® Gift Cards make great gifts for family, friends and business associates because they are flexible, secure and accepted anywhere VISA® debit cards are welcomed. Card amounts range from $10 up to $500. Give the special people in your life the best gift of all.....the gift of choice!

Buried Under A High Interest Auto Loan?

A.P.R.*2.75% Model Years 2010 - 2012

Refinance your current loan from another financial institution and

put money back in your pocket or shorten your auto loan term.

*A.P.R. = Annual Percentage Rate. Offers listed herein are available for qualified HRCCU members only for used vehicle loans. Rates listed herein are for up to 60 month term loans on vehicles model years 2010-2012 and 2006-2009 respectively, $3,000 minimum amount financed and include .25% A.P.R. discount for having automatic loan payments from an HRCCU account. Member must credit qualify. Rates listed are for a credit score of 730+. Other rates and terms available. A credit report fee of $5.00 may be charged. Other terms and conditions may apply. Offers/terms listed herein are subject to change without notice. HRCCU reserves the right to alter or withdraw this offer or certain features thereof without prior notification. Payment example: $15,000 loan @ 60 months = $267.87. Other rates and terms available. Rates valid as of 1/5/12.

Call 518-654-9028, visit hrccu.org or stop by any of our branches to apply.

Let HRCCU and our network of AutoSmart dealers help put you behind the wheel.

Visit hrccu.org for a full list of dealers. Shop online to find the car of your dreams!

Take Five and Save! Transfer your non-HRCCU credit card balances to our VISA® Platinum credit card today and take five-percent off your current credit card rate (from your transaction date through the next 12 months).

We offer: • No balance transfer fees • No hidden fees • No surprises • Great rates

Offer only effective on balance transfers from non-HRCCU credit cards. Special rate available October 1, 2012 through November 30, 2012. 12 months after your initial balance transfer, your rate will return to the base rate, based on credit worthiness and disclosed at time of approval. Base rates range from 7.90% to 18.00% Annual Percentage Rate. Borrowers must credit qualify. A credit report fee of $5.00 may be charged. New York State residents may contact the NYS Banking Deparment to obtain a comparative list-ing of credit card rates, fees and grace periods by calling toll-free 1-800-522-3330. The minimum payment due is 2.75% of balance or $30.00 whichever is higher. If you apply for another loan with HRCCU, your VISA A.P.R. may be raised or decreased based on your credit score at the time of application. Your A.P.R. will be reviewed upon reissue date and your rate may decrease or increase based on your credit score. The credit union has the right to offset your shares for payment. The Non-Sufficient Funds fee is $25.00; the late payment fee is $21.00. Other terms and conditions may apply. Rates and terms subject to change without notice.

Call 518-654-9028, visit hrccu.org or stop by any of our branches to apply.

Our auto loan rates start as low as:

Celebrate International Credit Union Week With Us!

“Members Matter Most” is the theme of this year’s International Credit Union Day! At Hudson River Community Credit Union we focus on meeting the needs of our members with lower rates on loans, competitive dividends on savings, a diversified range of financial products, friendly and professional service, and long-term security.

Credit unions are not-for-profit financial cooperatives that provide an effective and viable alternative to for-profit financial institutions for more than 4.6 million members in New York. We exist to serve our member/owners, providing a safe place to save money and access to affordable loans.

Credit unions are so much more than money lenders and holders. We stand for the power of people helping people. Each year in October we celebrate this spirit on International Credit Union Day to thank members for joining us in our efforts to build stronger individuals and stronger communities.

Credit unions play a vital role in the economic development and stability of the communities they serve, helping people improve their lives through access to affordable financial services.

“In the face of all challenges, credit unions have always existed to serve their members,” said Brian Branch, World Council of Credit Unions president and CEO. “The clear and simple message, ‘Members Matter Most,’ summarizes credit unions reason for being.”

Hudson River Community Credit Union would like to thank each and every member/owner for being a part of our great Credit Union. Please join us October 15 - 20 for a week-long celebration with free giveaways, financial education literature and refreshments. Please join us!

• Free giveaways during the week

• Enter to win raffles • Electronics recycling events • Free popcorn

And much more! Visit hrccu.org for event details and locations.

Direct Deposit Of Federal Government Benefit Payments Begins March 1, 2013

As the final step in its initiative to phase out the printing and distribution of paper checks, the U.S. Department of the Treasury will require individuals who currently receive paper checks and those applying for federal benefit payments to receive those funds by Direct Deposit beginning March 1, 2013. As an alternative, you may opt for a Direct Express® Debit MasterCard® card account. Payments will be electronically loaded onto the card each month. It can be used anywhere MasterCard is accepted, and one free ATM withdrawal is allowed every month. Subsequent withdrawals are 90 cents each. The debit card has no sign-up, monthly account or overdraft fees.Once you switch to direct deposit or the debit card option, you will begin receiving electronic payments in approximately six weeks.

If you already receive federal benefits payments electronically, this change will not affect you.

To arrange for the convenient direct deposit of your federal benefits payments or for more information, please ask an HRCCU Financial Services representative or visit the Treasury Department’s informational website at www.godirect.org.

Beware Of Phishing Scams! A “phishing” email scam is one where a fraudster will distribute fraudulent emails (under the guise of being legitimate) to unsuspecting consumers. A phishing email will likely include information which may appear official at first glance to the consumer and will ask the recipient to provide personal and confidential information by return email.

Hudson River Community Credit Union has recently been made aware of a new phishing scam asking consumers to set a new secure password for their Verified by Visa account.

The fraudulent email was addressed “Dear cardholder” instead of a personalized address, and the link included in the email was not properly formatted. However, the web address and phone number were correct and the Visa logo was included making the email look genuine.

The emails can also include links asking for security data or personal information. Responding to an email such as this would then provide the scammer with access to your account.

A spokesperson from Visa Europe says: “Verified by Visa will never send you an email requesting you to update your details for any reason. If you get one of these emails, it is a scam and you should report it to your card issuer.”

The Verified by Visa service was created to give you extra protection when you buy something online. Before a purchase is confirmed, a window will appear asking the customer to confirm certain security details.

Another recent example of a phishing email included both the MasterCard and Visa logo within it. This should immediately be cause for alarm as these are two entirely separate companies, and they would not send out a joint email. If you receive an email from Verified by Visa that you suspect is fraudulent do not provide any security or personal details. Instead, contact Visa directly to confirm if the email is genuine or not. You can also forward the email to phishing@visa.com to be investigated.

Convenient 24-Hour Access...• Audio Response System (518-654-7330) FREE!• Virtual Branch Internet Banking & Bill PayIt® and Mobile Money FREE!• Drive-thru ATMs at all branches

MAIN OFFICE312 Palmer Ave., Corinth, NY 12822518-654-9028 ~ 1-800-824-0700www.hrccu.org ~ info@hrccu.org

GLENS FALLS BRANCH: 160 Broad StreetHUDSON FALLS: 3762 Burgoyne AvenueCOHOES BRANCH: 35 Niver StreetTROY BRANCH: 40 Leversee Road (cat.#36469-NEWSLTR-10/12)

Monday, October 8 Observance of Columbus Day

Monday, November 12 Observance of Veteran’s Day

Thursday, Nov. 22 & Friday, Nov. 23 Observance of Thanksgiving

Monday, Dec. 24 & Tuesday, Dec. 25 Observance of Christmas

Tuesday, January 1 Observance of New Years

H o l i d ay C l o s i n g sStart saving now for next year’s holiday season. HRCCU’s Holiday Club year runs October 1, 2012 through September 30, 2013 but you can jump right in at any time to set up your Club account! When the Club year ends, your money is automatically deposited into your HRCCU Share Draft Checking Account to be used the very next day. However, if you do not have an HRCCU Share Draft Checking Account your money will be deposited in your Share Savings Account. Please note: Present Holiday Club members, your Holiday Club funds for theprevious year were transferred into your checking/savings ac-count on October 1, 2012. Holiday Clubs automatically renew for the next year on October 1st unless you notify HRCCU. No more waiting for the check to arrive in the mail. You can begin using your money right away! For more information or to set up your HRCCU Holiday Club Account, speak to any of our Financial Services Reps or visit us online at www.hrccu.org.

Travelers Benefits Plus® Insurance Available for Members!As a member of Hudson River Community Credit Union, you can save money on your personal insurance needs through an exclusive group insurance program administered by Marshall & Sterling Insurance. Start saving today on your Home, Auto and Personal Umbrella Insurance.

Getting started is very simple... just click the link on our homepage and provide your information to receive your fast, free, no-obligation insurance quote.Stop by and speak to a Marshall & Sterling representative in our branches on the following dates:

The first Tuesday of each month: Corinth The first Wednesday of each month: Glens Falls The first Thursday of each month: Hudson Falls The last Wednesday of each month: Troy The last Thursday of each month: Cohoes

Your savings are federally insured to at least $250,000 and backed by full faith and credit of the United States government.

Free Member Education Classes

Open a Holiday Club Account at HRCCU!

Members are invited to attend the following education workshops in October. Seating is limited. Pre-registration is required by calling Cornell Cooperative Extension at 518-746-2560 or via email at csomers@hrccu.org. Education Workshops are being offered free of charge to members and non-members.

Thurs., Oct. 4th – Budgeting Made Easy 6:00 p.m. – 8:00 p.m.

Thurs., Oct. 18th – Energy Savings 6:00 p.m. – 8:00 p.m.

Tues., Oct. 23rd – Credit Management 6:00 p.m. – 8:00 p.m.

All classes are presented by: Linda Law-Saunders, Cornell Cooperative Extension – Washington CountyClasses will be held at Cornell Cooperative Extension, Annex Bldg. 2, 415 Lower Main St., Hudson Falls, NY

Virtual Branch Services Enjoy the convenience of online banking with Hudson River Community Credit Union’s Virtual Branch Home Banking Service. With your personal computer you can manage your finances and do most of your banking through the internet anytime, anyplace. Use BankIT® Home Banking Service to transfer and review funds with up-to-the minute accuracy. Use PayIT® Bill Payment Services to securely pay your bills over the Internet. Virtual Branch Banking services are free to HRCCU members. Visit hrccu.org for more information and to register.