reverse thinking

T IPS A N D T R EN D S F R O M SE F C U F A LL 2 0 1 2
Moneyclips
save
I
learn
I dream
I
enjoy
I
balance I
live
Reverse
thinking
A Reverse Mortgage may
provide a welcome source of
retirement cash
PLUS FREE SEMINARS — SCHOL ARSHIP INFO — COMMUNIT Y EVENTS ROUNDUP — AND MORE!
TO DO LIST
1
Ever dream about becoming your
own boss? SEFCU offers free
seminars on starting a small
business. (page 4)
2
Platinum shines! SEFCU’s
Visa® Platinum Credit Card
has no annual fee and a
variable interest rate, plus
perks for members. (page 6)
3
It’s not too early to start your
holiday shopping. Discount
coupon books make
great gifts! (page 7)
4
Need cash for a new car?
House? Tuition for college?
SEFCU is your one-stop
loan shop. (page 8)
5
If you know someone who’s
graduating from high school
and heading to college, check
out SEFCU’s scholarship
options. (page 18)
6
It’s time to celebrate! Stop by any
SEFCU branch to pick up your free
gift during Member Appreciation
Week, Oct. 14-20. (page 20)
Moneyclips
FA L L 2 012
Issue Highlights
8
A guide to your financial toolbox (Part II)
A further look at some of SEFCU’s most popular products and services
10
15
Reverse thinking
A Reverse Mortgage may be your answer to a comfortable retirement
SEFCU insurance offers savings, peace of mind
Price is just one of the factors to consider when shopping for insurance
Lifestyle/Opportunities
5
Free seminar schedule
6
Go Platinum!
6
iTeller Home now available
7
Entertainment® and Save Around®
Books offer discounts
18
College scholarships on tap
19
20
Smart Sense games and prizes
It’s Member Appreciation Week!
News
3
Message from the President & CEO
3
Holiday closings
7
SEFCU service protects your money
7
Visit our new Vista branch
14 Member-Get-Member referral program
16 Community news roundup
Moneyclips is
12 Two goals, one pot of money
Saving for retirement and college...at the same time
www.facebook.com/sefcu
www.twitter.com/sefcu
MESSAGE FROM THE PRESIDENT AND CEO
The old saying is true, time sure does fly! It’s
hard to believe, but summer is officially over and as we
welcome fall we are seeing yellow school buses as part
of our regular morning routine. As I look back, I’m very
proud, and thankful, of the SEFCU employees, families,
and friends that kept busy donating their time and talent
with a number of late summer events including the Chris
Thater Memorial Races in Binghamton and in the Capital
Region we recently held the 24th Annual SEFCU 5k race.
This year’s 5k was particularly special as we
remembered servicemen and women on active duty
– including two of our own employees. Visitors to our
Website could cast a vote to decide how the proceeds
from the race would be split. After thousands of votes,
STRIDE Adaptive Sports the Wounded Warrior Program
received the highest number of votes and earned
$15,000, Operation Adopt a Soldier had the second most
votes and received $10,000, and Saratoga RPC – VET
HELP Program received $5,000.
As our thoughts start to turn toward the upcoming winter
and holiday season, SEFCU is already planning for
our annual Holiday Sharing Program where we ask for
donations from our employees, members, and Business
Partners to help us continue our tradition spreading
cheer to children and families throughout the Capital
Region, Binghamton, Buffalo, and Syracuse. Last year,
we contributed more than $86,000 through the Holiday
Sharing Program and I hope you will consider making a
donation to SEFCU’s program this year.
Federally insured by NCUA
Albany County Executive Dan McCoy, far left, SEFCU
President and CEO Michael Castellana, and SEFCU Board
Member Tim Jennings present a $15,000 check to STRIDE
Adaptive Sports, The Wounded Warrior Program at SEFCU’s
24th Annual Labor Day 5k.
SEFCU’s commitment to volunteerism remains as strong
as ever. As the holiday season approaches I hope you
find a cause you believe in and get involved in some
way – by delivering hot meals, buying gifts for a family
in need, or mentoring a young child – and make a real
difference in your community. Not sure how to get
started? E-mail us at volunteer@sefcu.com with your
interests and where you live and we’ll help match you
with a non-profit.
As always, none of this would have been possible without
your support. Enjoy reading this issue of MoneyClips. On
behalf of everyone at SEFCU, thank you for choosing us
as your financial institution. As always, I welcome your
comments at moneyclips@sefcu.com.
Michael J. Castellana
President & CEO
Holiday closings
All SEFCU branches and the Member Solutions Center
will be closed in observance of the following holidays.
Veterans’ Day l Monday, November 12
Thanksgiving Day l Thursday, November 22
Christmas Day l Tuesday, December 25
New Year’s Day l Tuesday, January 1
MONEYCLIPS FALL 2012 3
E D U CATI O N U P C O M I N G S EM I N A RS
Fall seminars
Are you Turning 65?
Attend this seminar and learn about Medicare Parts A, B
& C, Medicare Supplement plans, and different healthcare
options available to you.
Blogging and Building Business
Learn from Robert Braathe, from Braathe Enterprises, how
blogging can build your business by making your Website
more searchable, content relevant, and by incorporating
members of your team into the blogging process.
College Financial Aid and Scholarships
Get an overview of the financial aid process from a local
college professional and learn what scholarships are available
and how to take advantage of Tuition Rewards from SEFCU.
Defensive Driving
Attend this Department of Motor Vehicles-approved defensive
driving workshop and get a refresher on safe driving tips and
an overview of today’s vehicle and traffic laws. Plus, when you
complete the course you may be eligible to remove as many as
four points from your driving record. The cost of the class is
$25 for members and $35 for non-members.
Home Alone: Family Care Planning to Stay at Home
Find the answers to the questions you didn’t even know you
had to ask. Panel discussion to include representatives from
the Alzheimer’s Association, elder law, care management,
and long-term care planning.
Pension Maximization*
Planning on retiring? Learn how to maximize your pension
and protect your loved ones with the use of life insurance.
Retirement and Estate Planning
Attend this seminar and hear a discussion on wills, powers
of attorney, health care proxies, revocable and irrevocable
trusts, long-term care planning, and protecting assets. The
session is presented by Kate Madigan, Esq., Levene Gouldin &
Thompson, LLP, and Susan Suben, Long-Term Care Associates.
Not NCUA Insured
Not Credit Union Guaranteed
May Lose Value
Not Insured by Any Federal Government Agency
Not a Credit Union Deposit
*Securities offered through LPL Financial, member FINRA/SIPC.
Insurance products offered through LPL Financial or its licensed affiliates.
SEFCU and SEFCU Wealth Management Services are not registered
broker/dealers and are not affiliated with LPL Financial. Advisory services
offered through LPL Financial, a registered Investment Advisor.
4 MONEYCLIPS FALL 2012
Starting a Small Business
Learn how to effectively develop a business plan and get the
information you need to help you implement it.
Strapped for Cash?
Attend this seminar and learn about different financing options,
including consolidation loans, loan products, refinancing, and
home equity loans to help you get the cash you need.
Understanding Reverse Mortgages
Attend this seminar and learn how you can supplement your
social security with tax free income from Reverse Mortgages.
See the article on page 11 for more information on this product.
Women and Long-Term Care
Join Sheila Cervera, Certified Long-Term Care Specialist,
and Susan Suben from Long-Term Care Associates, as they
discuss the concerns of long-term care and the effect on
women. Women are the ones most likely to be a caregiver
and a surviving spouse. Learn how this could affect you and
what solutions are available.
Writing a Business Plan
Attend this seminar and learn the steps for writing a business
plan.
E D U CATI O N U P C O M I N G S EM I N A RS
Visit sefcu.com for a full list of upcoming seminars.
Capital Region
Binghamton
Capital Region seminars will be held at the Dora Maxwell
Auditorium at SEFCU Headquarters, 700 Patroon
Creek Boulevard, Albany, unless otherwise noted. Directions
to the Dora Maxwell Auditorium are available at sefcu.com or by
calling the Member Solutions Center at 518-452-8183 or 800-7273328.
Binghamton seminars will be held at the Vestal branch, 3460
Vestal Parkway, unless otherwise noted. Directions to SEFCU’s
branches are available at sefcu.com.
October 23
December 3
College Financial Aid and Scholarships
6 p.m. – 7:30 p.m.
October 25
Understanding Reverse Mortgages
6 p.m. – 7:30 p.m.
October 27
Defensive Driving
9 a.m. – 3 p.m.
October 30
Writing a Business Plan
6 p.m. – 7:30 p.m.
This seminar will take place at Manfred Real Estate Learning
Center, 920 Albany Shaker Road, Latham.
November 1
Pension Maximization*
6 p.m. – 7:30 p.m.
November 7
Blogging and Building Business
6 p.m. – 7:30 p.m.
November 8
Are You Turning 65?
6 p.m. – 7:30 p.m.
November 14
Home Alone: Family Care Planning to Stay at Home
6 p.m. – 7:30 p.m.
October 22
Retirement and Estate Planning
6 p.m. – 7:30 p.m.
College Financial Aid and Scholarships
6 p.m. – 7:30 p.m.
Buffalo
Directions are available at sefcu.com.
November 8
Starting a Small Business
6 p.m. – 7:30 p.m.
This seminar will be held at SEFCU’s Clarence branch,
4375 Transit Road.
November 29
College Financial Aid and Scholarships
6 p.m. – 7:30 p.m.
This seminar will be held at SEFCU’s Clarence branch,
4375 Transit Road.
Syracuse
Directions are available at sefcu.com.
October 25
Women and Long-Term Care
6 p.m. – 7:00 p.m.
This seminar will be held at the Courtyard Marriott,
6415 Yorktown Circle, East Syracuse.
October 30
College Financial Aid and Scholarships
6 p.m. – 7:30 p.m.
SEMINAR INFO Reservations are required for all seminars
and can be made by calling 518-464-5321 or 866-733-2880
x5321, or online at sefcu.com. Please visit sefcu.com
the day of the seminar to make sure the seminar hasn’t
been cancelled due to inclement weather or circumstances
beyond our control.
This seminar will be held at SEFCU’s Midler branch,
107 Simon Drive.
December 13
Strapped for Cash?
6 p.m. – 7:00 p.m.
This seminar will be held at SEFCU’s Cicero branch,
8086 Brewerton Road.
MONEYCLIPS FALL 2012 5
S E F C U N E W S A N D I N F O R M AT I O N
iTeller Home makes
deposits a snap
Your time is valuable and that’s why SEFCU has made it even easier
to make deposits. Now, with iTeller Home, you can scan and deposit*
checks into your SEFCU account right from your home computer.
Simply endorse and scan your checks with your personal scanner and
then select the account where you’d like the check to be deposited. The
money will automatically be credited to your SEFCU account and then you
can store the paper check in a safe place for your records.
To get started, log in to SEFCU OnLine and click on “iTeller Home” in
the top menu bar.
*Your current account relationship with SEFCU will determine if you are
eligible for this service. Please note that one of the requirements includes
a personal line of credit on the account. For more information, contact the
Member Solutions Center at 518-452-8183 or 800-727-3328.
Coming soon! The ability to deposit checks from your
iPhone® or Android® with iTeller On the Go. Watch for details!
Go Platinum!
If you’re going to carry a credit card, make sure it’s a
SEFCU Visa® Platinum Card. With no annual fee and a
variable rate, now is the time to get this card in your
wallet.
When you choose a Visa Platinum Credit Card you’ll get:
• Access to Visa checks and cash advances
• No fee balance transfers
• Rewards in the form of Preferred Points
• An automatic payment option from your SEFCU Really Free Checking account
• Generous credit limits up to $30,000 (if credit qualified)
Plus, with a SEFCU Visa Platinum Card you can pay your bills automatically – like
your cable or electric bill – with your card and then pay it off at the end of the month.
To learn more or apply for a SEFCU Visa Platinum Card, visit sefcu.com or call the
Member Solutions Center at 518-452-8183 or 800-727-3328.
6 MONEYCLIPS FALL 2012
S E F C U N E W S A N D I N F O R M AT I O N
SEFCU service
protects your
money
Have you ever received a call or message from someone
who says they are calling you on behalf of your financial
institution concerning your debit card? In today’s world that
may seem to be a scam and you should ignore the call.
However, in an effort to protect our members’ accounts
and reduce the impact of fraud, SEFCU has partnered
with Fidelity Information Services (FIS) and their service
Preventative Risk Management (PRM) that monitors
transaction activity to spot transactions that are not typical
for our members and flags them as suspicious.
Visit our new
Vista branch
Earlier this month, SEFCU opened its
46th branch in the Vista Technology
Campus at 12 Vista Boulevard in
Slingerlands. The new branch is a fullservice branch with a coin sorter, drivethru, and ATM.
For a complete list of all SEFCU
branches, visit sefcu.com.
In the event that a large or unusual purchase is made, you
may receive a call from PRM. If you miss the call, they will
leave a message asking you to return the call, but they will
never ask for personal or confidential information like your
Social Security Number or account number. It is important
that you return the call and confirm if you made the purchase
or if someone is using your card fraudulently.
If you ever have any questions about calls you receive, you
can always call the Member Solutions Center at 518-4528183 or 800-727-3328.
Entertainment and
®
Save Around Books
offer great deals
®
Need a gift idea or looking for an easy way
to save money? Entertainment and Save Around
Books offer coupons and discounts for the
places you dine, shop, and get entertainment.
Stop by a Capital Region, Syracuse, or
Buffalo SEFCU branch to purchase an
Entertainment Book for just $30. If you
are in Binghamton, purchase a
Save Around Book for $20.
Best of all, a portion of the proceeds
benefits SEFCU’s Community Support
Program.
MONEYCLIPS FALL 2012 7
S O L U T I O N S S E F C U P R O D U C T S A N D S E R V I C E S AT A G L A N C E
A guide to your
financial toolbox
PA RT
II
In our last issue of Moneyclips, we reviewed some of the products and services SEFCU offers to
make dealing with your finances easy, convenient, and a great value. But there’s more! In Part II,
we’ll show you how we can save you money when you’re shopping for your next car, financing your
education, buying a house, and meeting other life goals. At SEFCU, our purpose is to be your partner!
CONVENIENT CARDS
Need a loan?
SEFCU Visa® Platinum Card — Take
advantage of SEFCU’s great six-month
introductory rate and shop, dine out, or go on
vacation with SEFCU’s Visa Platinum Card! You
can even use this credit card to pay your bills –
for utility companies, newspaper subscriptions,
or anything else – quickly and conveniently.
Credit limits on this variable rate card range from
$500 up to $30,000.
Education loans — Need help financing private school or college? SEFCU’s
education loan lets you borrow with your choice of a loan or line of credit with a
maximum 15-year term. If you own your own home, you can choose a SEFCU home
equity loan to help cover school costs.
SEFCU Secured Visa Platinum
Card — Our SEFCU Secured Visa Platinum
Card is perfect if you maintain larger balances in
savings or open a Share Certificate at SEFCU.
You can get the convenience of a credit card
at a greatly reduced rate. Just secure funds on
deposit, plus an additional 10%, as collateral
for your credit card loan, and continue to earn
interest on your secured funds.
Gift cards — Choose Visa gift cards for that
special someone! A low fee of $3.95 applies.
Share Secured loans — Need cash in a hurry but want to avoid early withdrawal
penalties on your long-term savings? Borrow up to 100% of your share or certificate
balance if credit-qualified.
Home Equity loans — You’ve worked hard to own your home so let the equity
you’ve built work for you! Our Home Equity loan allows you to take funds in one lump
sum to consolidate debt, build an addition, pay college tuition, or use for whatever you’d
like! Choose our Home Equity Line of Credit and borrow (up to your approved limit) any
time you need cash.
Get on the road
New and pre-owned auto loans
No matter what kind of car you want, SEFCU has a loan just for you! With many
SEFCU auto loans, you can borrow up to 125% of the purchase price, including tax and
licensing fees (if credit-qualified). Our auto loans are also available for motorcycles.
Recreation vehicle (RV), sportscraft, and boat loans — Take to the
road ... or the high seas! With a SEFCU RV or boat loan, you can get competitive
rates and flexible loan terms to get you moving. Maybe you’re looking for an ATV,
snowmobile, or jet-ski. If so, SEFCU has a special loan with low rates just for you!
Auto Advantage — Do you like the idea of getting a new car every few years?
With Auto Advantage, you can enjoy all the benefits of leasing while owning a vehicle.
Finance a new or pre-owned vehicle up to three model years old and choose from
24-72 month terms based on model year.
Want to learn more about SEFCU’s products and services?
Visit sefcu.com, call the Member Solutions Center at
518-452-8183 or 800-727-3328, or stop by any branch.
8 MONEYCLIPS FALL 2012
Re
ov
pr
Bo
ed
tu
iTe
Home sweet home
SEFCU Mortgage Services provides a complete range of mortgage products and services. Get
all the answers you need to buy a home online at sefcumortgageservices.com or by
calling 518-783-1234 or 800-444-6313.
Traditional mortgages — For level payments throughout the life of your loan, choose
a fixed-rate mortgage with a term that’s right for you. Or, select an adjustable-rate mortgage
(ARM) and get lower monthly payments for one, three, or five years. ARM rates are adjusted
after the introductory period with low annual and lifetime caps on rate increases.
VA mortgages — If you’re a veteran, consider this loan before purchasing a home. A
Veteran’s Adminstration (VA) loan is designated for veterans only and features 0% downpayment.
FHA mortgages — These government-insured mortgages are designed for members who
would like to buy a home but do not have a lot of funds for the downpayment and closing costs.
The initial mortgage insurance premium can be financed into the loan amount.
Mortgage Match program — Struggling to save for the downpayment on a home of
your own? Our Mortgage Match program can provide the boost you need! If you meet income
requirements, you may qualify for a match of $4 for every $1 you save toward your house
purchase (maximum match is $7,500). The program requires participants to attend financial
education seminars and make regular deposits to a SEFCU savings account.
621 Columbia Street Ext., Cohoes, New York 12047
Licensed Mortgage Banker
New York State Department of Financial Services
NMLS Company ID – 309847
eally Free checking con
verdraft protection meM
Protection
you need
Get a free quote from SEFCU
Insurance Agency to see if you can
save on your premiums. Call 518786-9905 or 888-250-6689 or visit
sefcuinsuranceagency.com.
Personal products — From
life, to auto and homeowners, SEFCU
Insurance Agency has you covered!
Commercial insurance — Any
loss or accident has the potential to
negatively affect your business, but
what if your insurance doesn’t cover
it all? SEFCU Insurance Agency
has industry-leading coverage that
will help ensure your assets – and
business – are protected. SEFCU
Insurance Agency can also provide
your business with a full range of very
competitively priced employee benefit
products that can save you money
while providing your employees with
quality coverage. See how affordable
this coverage can be! Contact SEFCU
Insurance Agency, and we’ll review
your business needs and recommend
the protection that’s right for you.
agency
referred points share certificates
oomer Club Holiday club smart sen
ducation savings campus banking
uition rewards cash management
eller visa check card merchant
MONEYCLIPS FALL 2012 9
S O L U T I O N S A R E V E R S E M O R T G A G E M AY B E T H E A N S W E R T O R E T I R E M E N T C A S H
Reverse Mortgages
are governmentinsured loans that
allow individuals
age 62 and older to
convert a portion of
their home’s equity into
cash, tax free, while
retaining ownership –
and title – of the home.
10 MONEYCLIPS FALL 2012
Reverse thinking
Need extra cash? Want to update your home? Planning a dream vacation? You may not realize it, but if you
own your home and are 62 or older, Reverse Mortgages provide another cash flow option you may not have
considered.
What is a Reverse Mortgage?
Reverse Mortgages are government-insured loans that allow
individuals age 62 and older to convert a portion of their home’s
equity into cash, tax free, while retaining ownership – and
title – of the home. Unlike traditional mortgages, homeowners
don’t make monthly mortgage payments, but instead receive
payment against the equity in their home from the lender. The
loans are provided by a third party and the loan amount is
determined by the market value of the home and the borrower’s
age. Best of all, there aren’t any income requirements.
Who is eligible?
To qualify for a Reverse Mortgage, individuals must:
• Own or have equity in a one- to four-unit home, townhouse,
or HUD-approved condominium
• Occupy the home as a primary residence
• Be at least 62 years of age
What can the equity be used for?
If you choose to take advantage of a Reverse Mortgage, you can
use the equity to pay off your current mortgage, go on vacation,
pay bills, or modernize/remodel your home, including updating
bathrooms, building ramps, or adding elevators or lifts that
will allow you to age at home – all without making a monthly
mortgage payment.
Repaying a Reverse Mortgage
Mortgage payments are not required for as long as you can
live in your home. However, if you sell the home, you have
up to one year to repay what you borrowed. When all of the
borrowers of the Reverse Mortgage pass away, your estate
will repay what you have borrowed by payment or sale of the
property and keep the remainder of the equity.
Other requirements
A full residential appraisal is needed to determine the market
value of the home. Borrowers receive free consultation from
SEFCU Mortgage Services Reverse Mortgage Senior Loan
Specialists. Borrowers must also attend U.S. Department of
Housing and Urban Development counseling to ensure their
understanding of the program.
Get started!
Contact SEFCU Mortgage Services by phone to learn more or
to apply at 877-296-6777.
Reverse Mortgage payment methods
Depending on your needs, you can choose from one or a
combination of the following payment options:
• Receive a lump sum
• Choose monthly payments to supplement your current or
future income
• Leave your funds in a line of credit to draw on as needed
621 Columbia Street Ext., Cohoes, New York 12047
Licensed Mortgage Banker – New York State Department of Financial Services
NMLS Company ID – 309847
MONEYCLIPS FALL 2012 11
Two goals,
one pot of money
There’s no doubt that college costs are high — and getting higher.
So, if you expect your child to go to college, it probably makes
sense to start saving as early as possible. There’s also no doubt
that if you plan to retire someday, you’re going to need money to
live on — maybe a lot of money, since your retirement could last
for 30 years or even longer.
Saving for both your child’s education and your retirement may
take more resources than you ever expected. You may think
that saving for college should be your first priority, since your
retirement may still be many years away. However, keep this in
mind. Your child can always borrow money to pay for college.
But who’s going to lend you money to fund your retirement?
12 MONEYCLIPS FALL 2012
Retirement Saving — A Do-It-Yourself Project.
Although you may receive Social Security and possibly pension
benefits from your current or a former employer, these sources
alone probably won’t provide enough income for you to live
comfortably throughout retirement. So you’ll want to save as
much as you can. The good news is that assets in Individual
Retirement Accounts (IRAs) and 401(k), 403(b), and similar
plans generally won’t be included when colleges calculate your
expected family contribution to education costs. So it makes
sense to contribute as much as you can to these accounts.
Contribute to an Education Savings Plan. By starting to
sock away money when your child is young, you may be able to
accumulate significant savings for college. Section 529 plans*
W E A LT H M A N A G E M E N T S AV I N G F O R R E T I R E M E N T A N D C O L L E G E TA K E S P L A N N I N G
Your child can always borrow money
to pay for college. But who’s going to lend
you money to fund your retirement?
allow savings to grow tax deferred and
offer tax-free distributions for qualified
educational expenses. Funds in Section
529 plans generally are treated as parents’
assets for financial aid purposes. However,
the money must be used for qualified
college expenses of the beneficiary (or
certain relatives of the original beneficiary)
to qualify for tax-free withdrawal. So, if
your child doesn’t attend college, you won’t
be able to withdraw the funds for
retirement without paying income tax.
You Can Always Take It Out.
If college is looming and you’re short
on cash, money in an IRA may be
withdrawn penalty free to pay qualified
educational expenses at an eligible
educational institution. Any taxable
portion of your withdrawal will be
treated as ordinary income.
To learn more about these and other savings
options, contact a SEFCU Wealth Management
financial advisor at 518-862-1955 or 800-727-3328 (option 6).
* Certain benefits may not be available unless
specific requirements (e.g., residency) are met.
There also may be restrictions on the timing of
distributions and how they may be used.
Not NCUA Insured
Not Credit Union Guaranteed
May Lose Value
Not Insured by Any Federal Government Agency
Not a Credit Union Deposit
*Securities offered through LPL Financial, member FINRA/SIPC.
Insurance products offered through LPL Financial or its licensed affiliates.
SEFCU and SEFCU Wealth Management Services are not registered
broker/dealers and are not affiliated with LPL Financial. Advisory services
offered through LPL Financial, a registered Investment Advisor.
This information is not intended to be a substitute for specific
individualized tax advice. We suggest that you discuss your specific tax
issues with a qualified tax advisor.
MONEYCLIPS FALL 2012 13
member benefits te l l peop l e about sefcu a n d y ou cou l d be a wi n n er !
Proud to be
a SEFCU
member!
Tell others about your experience
Did you know once you become a SEFCU member your family
is also eligible to join and take advantage of all the great credit
union products and services that you already enjoy? If you
like the low loan rates and fees, convenient, friendly services,
and higher savings rates you get from SEFCU, tell your family
about the experience so they can open their account.
Best of all, when you refer your friends and family to SEFCU
you could win* a $100 Visa® Gift Card as part of SEFCU’s
Member-Get-Member program. Simply clip the card below,
print your name on the first line, and give it to the person you
are referring. If they turn in their card when opening a new
account, you’ll be entered in a drawing* for a $100 Visa Gift
Card for each new person you refer!**
*One winner’s name will be selected each month from all of the
qualified referral cards. Winners will be contacted by phone. SEFCU
employees and their immediate families are not eligible. To participate
in the drawing without submitting a referral, send a 3” x 5” card with
your name and phone number to SEFCU Marketing, “Member-GetMember,” 700 Patroon Creek Boulevard, Albany, NY 12206. Program
may end with no advance notice. No purchase necessary.
**Referrals must be for new members only to qualify for the drawing.
Membership eligibility requirements apply.
"
Member-Get-Member Referral Card
I,
Full Member Name
am pleased to refer
Full Prospective Member Name
to join SEFCU. If my name is chosen in the drawing, you may contact me at
(
)
Telephone Number
Opening a new account is quick and easy! Applicants must be at least 18
years old, have a valid ID, and $1 is required to open an account. Apply at a
branch or visit www.sefcu.com.
14 MONEYCLIPS FALL 2012
SOLUTIONS SHOPPING AROUND FOR THE RIGHT INSUR ANCE
Save money and get peace of mind
SEFCU Insurance Agency has you covered
If you’ve ever shopped for homeowner’s, auto, or renter’s insurance, the quote you get probably plays a big factor in your
decision. You may not realize it, but there are a number of other factors that should also influence your decision.
Seeing dollar signs
SEFCU Insurance Agency has over 20 insurance carriers so we can match your needs with the company that can provide the best
protection for you. Best of all, because of the number of options available to us, we may be able to save you a significant amount on
your premiums.
A fair comparison
Did you know that if you’re only looking at the bottom line – the price – when getting insurance quotes, you may not be comparing
apples to apples? When SEFCU Insurance Agency gives you a quote they are usually basing it on minimum of $100,000 of property
damage coverage. Some other companies only quote the New York State minimum of $10,000, so consider this scenario: You have a
brand new car worth $30,000 and you get in a serious accident (no one is hurt) with another driver in a brand new car worth $30,000,
and both cars are totaled. But, because you opted to go with the cheaper coverage you are only covered for $10,000. You would be
responsible for paying the remaining $20,000 out of pocket!
Get educated
Before making a decision, SEFCU Insurance Agency wants to make sure you are
choosing the insurance coverage that’s right for you. Our professionals will review
your current coverage and make recommendations so you can be adequately protected.
Then we’ll shop around and help you find the lowest rate possible.
Ready for a free quote? Visit sefcuinsuranceagency.com
or call 518-786-9905 or 888-250-6689 to get started.
agency
MONEYCLIPS FALL 2012 15
c
16 MONEYCLIPS FALL 2012
community
SEFCU walkers/runners rack up the miles
This summer, SEFCU runners and walkers participated in a number of walks and runs to raise
money for several non-profit organizations. Below is a recap of the events SEFCU took part in.
3 Days. 60 Miles.
In July, a team, led by SEFCU president and CEO, Michael
Castellana, participated in the Susan G. Komen 3-Day
walk in Boston. At this event, participants walk 60 miles
over three days to raise money and awareness for breast
cancer. Thanks to the generosity of SEFCU employees,
members, and business partners, the credit union
contributed over $100,000 to the Susan G. Komen fund.
SEFCU Labor Day 5k race
This year, the credit union held the 24th Annual Labor
Day 5k. The event attracted nearly 600 runners, walkers,
and for the first time, handcycle riders. Once again,
SEFCU held a public vote to determine how the race
proceeds would be split between three non-profits. After
a close vote, STRIDE Adaptive Sports, the Wounded
Warrior Program received the highest number of votes
and earned $15,000, Operation Adopt-a-Soldier earned
the second highest votes and received $10,000, and
Saratoga RPC – VET HELP Program was awarded
$5,000.
The top male finisher was Mike Roda, second
place was Chris Judd, and third place was Jordan
Pantalone. The top female finisher was Meghan
Davey, second fastest woman was Crystal Perno, and
third place was Karen Bertaso. Thanks to everyone
who participated!
The race is coordinated by the Hudson Mohawk
Road Runners Club (HMRRC). Special Thanks to the
following race sponsors: 99.5 The River, Benetech,
CDPHP, Chubb Group of Insurance Companies, CUNA
Mutual, DeCrescente Distributors, Dunkin’ Donuts,
George K. Baum & Company, Group for Organizational
Effectiveness, Inc., Hayner Hoyt Corp., Janitronics
Facility Services, Inc., JCB Specialties, Inc., LAMAR
Advertising, Langan Automotive Group, Preferred
Mutual Insurance Company, S & B Contracting, Inc.,
Sandler O’Neill & Partners, L.P., Saratoga Water,
SEFCU Insurance Agency, SEFCU Mortgage Services,
Sterling Insurance Company.
MONEYCLIPS FALL 2012 17
member benefits are you eligible for a sefcu scholarship ?
College planning
How will you pay? SEFCU can help.
Whether you are a high school senior or already attending college, paying tuition costs can be
expensive for you and your family. To help ease the financial burden, SEFCU offers a number of
scholarships. Check the descriptions below to see if you’re eligible and learn how to apply.
For incoming freshmen
Smart Sense Scholarship
Available to high school seniors planning to attend a two- or
four-year college next fall, SEFCU’s Smart Sense Scholarship
provides a $1,000 one-time award to students who have a strong
academic record and have demonstrated a commitment to their
community through volunteerism. Multiple winners will be
selected for this scholarship.
For graduate students
Dr. Carmen M. Cornute Memorial Scholarship
To be eligible for this $2,500 award, applicants must be
pursuing an advanced degree in Nursing or Social Sciences
in an accredited program (advanced degree as defined by
credentialing agency appropriate to the field of study) and
provide evidence of involvement in extracurricular, volunteer/
community service, and/or career-related activities.
Jean L. Myers Memorial Scholarship
Created in memory of Jean Myers, a former SEFCU Board
Member, this award is available to one high school senior
graduating from South Colonie Schools. This one-time
scholarship provides $2,500 to a student who has a strong
academic record and has demonstrated a commitment to his or
her community through volunteerism.
Applications will be available later this fall. To request one,
e-mail marketing@sefcu.com. Include your name and
address in the body of the message and the name of the
scholarship in the subject line. You can also call 518-451-2897
or 866-733-2880 x2897. The application deadline is Friday,
January 25.
Robert Berroyer Memorial Scholarship
Established in memory of Robert Berroyer, a former SEFCU
Board Member, this $2,500 one-time award is available to a
student graduating from La Salle Institute and planning
to attend a two- or four-year college. Applicants must
have a strong academic record and demonstrate a
commitment to their community through volunteerism.
John Ilacqua Memorial Scholarship
In memory of John Ilacqua, a former SEFCU Board Member,
this $2,500 one-time award is available to one high school
senior planning to attend Siena College. Applicants must have
a strong academic record and demonstrate a commitment to
their community through volunteerism.
For current college students
Rensselaer, Skidmore, University at Albany, and
University at Buffalo
If you are a student at Rensselaer, Skidmore, the University at
Albany, or the University at Buffalo and will be entering
your sophomore, junior, or senior year at these schools, then
you are eligible to apply for this $1,000 one-time award.
Applicants must have a strong academic record and demonstrate
a commitment to their community through volunteerism.
18 MONEYCLIPS FALL 2012
SEFCU reserves the right to not award any of the above in any
given year.
S M A R T S E N S E G A M E S A N D G I V E A W AY S
Trick or Treat
A Halloween Safety Quiz
Read each question below and check the answers to see how many
you get right. Just for fun, Trick = False and Treat = True.






Trick / Treat
Before going up to a house, you should always check that it has Halloween decorations.
Trick / Treat
If there’s a jack o’lantern on the porch you should avoid going to that house because
the candle might light your costume on fire. Trick / Treat
You got a yummy, crunchy candy bar at the first house you visit and you’re hungry,
but your sister says you should wait until you get home to eat it. Trick / Treat
Everyone should get their own flashlight on Halloween.
Trick / Treat
You should walk, stalk, slither, or sneak only on sidewalks on Halloween night.
Trick / Treat
The best way to have fun on Halloween is to stay out as late as possible and get
as much candy as you can!
ANSWERS:
1. Treat! Sidewalks are best. Be sure to cross the street only at marked intersections and look both ways for cars.
2. Trick! Although Halloween decorations are fun, the most important thing to look for is a well-lit home with the front porch light on.
3. Trick! Although it’s smart to avoid candles, you don’t have to avoid the house altogether. Just watch your step and your costume when approaching the flame.
4. Treat! You should always wait until you get home to eat anything so your parents can help you inspect the candy in the light.
5. Treat! Everyone should see and be seen for safety so a flashlight is essential. You can also attach reflective tape to your costume.
6. Trick! The best way to have fun on Halloween is to stay safe and go with a group, following safety rules.
You could be a winner!
Register for a drawing to win* a Nintendo DSi.
If you have a Smart Sense account at SEFCU, here’s your chance to win
a Nintendo DSi. Fill out this entry blank and drop it off at any branch or mail it
by January 2, 2013 to: SEFCU Marketing, 700 Patroon Creek Blvd., Albany, NY 12206.
Member Name
Member Number
Phone Number
E-mail Address
*SEFCU employees and their immediate families are not eligible. Open to Smart Sense
members only. If you have more than one Smart Sense member in your family, photocopies
of this entry form are acceptable. One entry per person.
MONEYCLIPS FALL 2012 19
MONEYCLIPS
fall 2 0 1 2
MoneyClips is a quarterly newsletter published
for the benefit of SEFCU members.
Member Solutions Center 518-452-8183 • 800-727-3328
Administration
518-452-8234 • 866-733-2880
DIAL Automated Phone Svc.
518-452-2874 • 800-733-2848
SEFCU Insurance Agency 518-786-9905 • 888-250-6689
SEFCU Mortgage Services 518-783-1234 • 800-444-6313
Website www.sefcu.com
M E M B E R A PPR E C I ATI O N W E E K STO P I N FO R YO U R FR EE G I F T !
It’s time
to celebrate…
you!
We appreciate your ongoing support
and to show our gratitude, SEFCU will
celebrate International Credit Union Day,
October 18. Stop by any SEFCU branch,
October 14 – 20 and receive a free gift*.
You can also enter to win a 2013 Entertainment®
or Save Around® Book and a $500 Visa® Gift
Card**.
*While supplies last.
**No purchase necessary to enter prize drawing. Drawing
to be held the week of October 22, 2012. No substitution
of cash for prizes is permitted. Entrants must be at least 18
years of age. SEFCU staff and their immediate families are
not eligible. One entry per person.
Patroon Creek Corporate Center
700 Patroon Creek Boulevard
Albany, NY 12206
PRESORTED STANDARD
U.S. POSTAGE
PAID
SARATOGA SPRINGS NY 12866
PERMIT #426