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

National Credit Union Administration, a U.S. Government Agency

NCUA

Holiday Closings

Board of Directors

By the NumbersMembersCapital Ratio

AssetsLoans

Office Information245 Vulcan StreetBuffalo, NY 14207Mon., Tues. & Thurs. 8:30 am - 4:00 pmWed. 9:00 am - 4:00 pmFri. 8:30 am - 4:30 pm

315 Stahl RoadGetzville, NY 14068Mon., Tues. & Wed. 9:00 am - 4:30 pmThurs. & Fri. 9:00 am - 6:00 pmSat. 9:00 am - 12:00 pm

Erie 716-875-1747 • Niagara 716-213-0220Toll Free 1-800-875-1747 • Fax 716-875-1792

Audio Response 716-875-1747 – Phone Option 4

www.riversidecreditunion.com

SupervisoryCommittee

May 25 – Memorial Day

July 3 & 4 – Independence Day

September 7 – Labor Day

October 12 – Columbus Day

November 11 – Veterans Day

November 26 – Thanksgiving Day

December 24 – Christmas Eve – ½ Day

December 25 – Christmas Day

December 31 – New Year’s Eve – ½ Day

Thomas H. Rew, President

Richard Maziarz, Secretary

William Brick, Jr., Treasurer

Gary Shonitsky

Robert McCleery

Paul Sulpizio

Jeffrey Pietrzyk

Peggy Gervase

Rodger White

Margaret Perkins

John Sanabria

David Wilder

News and information from your credit union

RiversideRiverside

In this issue...•••••

Summer 2010

....................................................... pg. 2 Summer Discounts ......................................................... pg. 2 MEMBERS Financial Services ........................................... pg. 2 Refinancing Auto Loan ................................................... pg. 3

3

Scammers Exploit the FTC’s Good Name, Promise Phoney Sweepstakes PrizesRFCU Recent Events

FTC Consumer Alert - Federal Trade Commission Bureau of Consumer Protection Division of Consumer & Business Education

“Hi, I’m calling from the Federal Trade Commission to tell you that you have won $250,000…”Someone who claims to work for the Federal Trade Commission calls to inform you that you have won a lottery or sweepstakes. To receive the prize, all you have to do is pay the taxes and insurance. �e caller asks you to wire money or send a check for an amount between $1,000 and $10,000. What should you do? Don’t send

Dusk Til Dawn Relay - on Friday, May 28, 2010 RFCU was a sponsor of the Amherst Youth Foundation Dusk Til Dawn Relay.

Corporate Challenge - on Thursday, June 10, 2010 Riverside FCU participated in the Corporate Challenge.

UpcomingEventsRFCU Annual Meeting - Wednesday, July 28, 2010. This years meeting will be held at the branch at 315 Stahl Road in Getzville at 5:30pm. This will be a meeting only and is free to any members that would like to participate. (No dinner or gifts will be accompanying this years meeting.)

GM Car Show - Saturday, July 24, 2010

RFCU Summer Sizzler Triathlon - Saturday, August 7, 2010. You can find more information and register to compete at www.score-this.com

Hunter’s Hope 3rd Annual Every Step Walk - Saturday, September 18, 2010 at Beaver Island State Park. For more information and to register or donate please visit www.huntershope.org. RFCU will begin fundraising in our branches in July.

Overdraft Protection

2010 Scholarship Winners............................................... pg.••

Scammers Exploit the FTC cont. ..................................... pg. 4 Holiday Closings ............................................................ pg. 4

money or account information, and immediately report the incident to the real Federal Trade Commission (FTC).

�e FTC is the nation’s consumer protection agency. It investigates fraud and provides free information, but it never collects money directly from consumers. FTC staffers don’t have any involvement with this sweepstakes scam, but they do want you to avoid it. �e caller might suggest that the FTC is supervising the giveaway. He or she might even use the name of a real FTC employee. Your Caller ID might display the Federal Trade Commission’s name or a Washington, DC area code. Don’t be surprised if you receive repeated calls and follow-up faxes.

No matter how convincing the impersonation, you should never send money to claim a prize. No FTC employee will ever call to ask you to send money. Legitimate sweepstakes companies won’t either. Many older consumers and their families have reported this kind of scam, but anyone could be contacted.

*Continued on Page 4

For Your Profit

Quarterly ProfitQuarterly Profit

New Laws Require Members to Opt-In to Overdraft Protection

Beginning August 15, 2010 Members who wish to take advantage of our Overdraft Protection services for everyday debit card and ATM transactions will need to have filled out an Overdraft Protection Opt-In form. �ese forms will be mailed to each member, and are available at each location. �ey will also be available online in the near future. If a form has not been filled out and returned to the credit union, Overdraft Protection will be unavailable for debit and ATM transactions. Members are able to Opt-in or Opt-out at any time.

What is Overdraft Protection?

An Overdraft occurs when you make a purchase or ATM transaction but don’t have enough money in your account to pay for it. For a fee the credit union’s overdraft protection service will cover you when you become overdrawn. �is fee can apply to each time you overdraw your account. The basic factsGenerally, credit unions can cover your overdrafts in one of two ways:

Standard overdraft practices. Your credit union will cover your transaction for a flat fee of $25 each time you overdraw your account. For example, if you make a purchase with your debit card for $150 but only have $100 in your account, your account will be overdrawn by $50 and your credit union will charge you a fee. If you then make an ATM withdrawal for $50, your account will be overdrawn by $100 and you will be charged another fee. In this example, if the fee your credit union charges for its standard overdraft practices is $25, you will pay a total of $50 in fees.

Overdraft protection plans. Your credit union may offer a link to your savings account to cover transactions when you overdraw your account. Credit unions typically charge a fee each time you overdraw your account, but these overdraft protection plans may be less expensive than their standard overdraft practices. At RFCU a member can cover an overdraft from their savings account up to 6 times per month and there is no fee for this service.

The new rules

You choose. In the past, some credit unions automatically enrolled you in their standard overdraft practices for all types of transactions when you opened an account. Under the new rules, your credit union must first get your permission to apply its standard overdraft practices to everyday debit card and ATM transactions before you can be charged overdraft fees. To grant this permission,

Summer DiscountsDon’t forget to take advantage of the Riverside FCU discount tickets!

Stop in today to get your discounted rates on:

Darien Lake Passes

Fantasy Island Passes

Delta Sonic Car Washes

Regal Cinemas Movie Tickets

you will need to respond to the notice and opt in (agree).

Existing accounts. If you do not opt in (agree), beginning August 15, 2010, your bank's standard overdraft practices won't apply to your everyday debit card and ATM transactions. These transactions typically will be declined when you don't have enough money in your account, but you will not be charged overdraft fees.

New accounts. If you open a new account on or after July 1, 2010, your credit union cannot charge you overdraft fees for everyday debit card and ATM transactions unless you opt in. If you open a new account before July 1, 2010, your credit union will treat you as an existing account holder: you will receive a notice about your credit union’s standard overdraft practices and will have to decide if you want them for everyday debit card and ATM transactions.

Flexibility. Whatever your decision, the new overdraft rules give you flexibility. If you opt in, you can cancel at any time. If you do not opt in, you can do so later.

Checks and automatic bill payments. The new rules do not cover checks or automatic bill payments that you may have set up for paying bills such as your mortgage, rent, or utilities. Your credit union may still automatically enroll you in their standard overdraft practices for these types of transactions. If you do not want your credit union’s standard overdraft practices in these instances, talk to your credit union; you may or may not have the option to cancel.

Information courtesy of federalreserve.gov

Overdraft Protection Reminder

Financial AdvisementMEMBERS Financial Services is here to help you when you need advisement on your financial health. �ey can assist you with:• Retirement Planning • Wealth Management Education • Funding Mutual Funds 401(k)/ Pension Rollovers• Life Insurance • Long-Term Care Insurance

For more information call our advisors David Goldpenny & Stewart Conover at 875-1747 Ext.148

Congratulations to the 2010 RFCU Scholarship Winners

Riverside FCU was proud to award these four talented individuals with a scholarship this year. �ey proved to be students of excellence with outstanding future goals. RFCU hopes that our scholarship will help them achieve their dreams. Good luck to them and all of our RFCU high school grads!

STOP THROWING MONEY OUT THE WINDOW ON HIGH

AUTO LOAN PAYMENTS

Award Recipient: Graduating high school: Planning to attend college at:Tessa Carberry - Iroquois Central High School - SUNY GeneseoMary Teresa Galante - Mount St. Mary Academy - Rochester Institute of TechnologyKatherine Landahl - Frontier Central High School - Canisius CollegeGraham Siegling - Williamsville East High School - Macaulay Honors College at Hunter College, CUNY

Graham SieglingTessa Carberry

*Mary Teresa Galante and Katherine Landahl not pictured

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

National Credit Union Administration, a U.S. Government Agency

NCUA

Holiday Closings

Board of Directors

By the NumbersMembers: 5577Capital Ratio: 9.40%

Assets: $57,538,890Loans: $28,376,548

Office Information245 Vulcan StreetBuffalo, NY 14207

315 Stahl RoadGetzville, NY 14068

Erie 716-875-1747 • Niagara 716-213-0220Toll Free 1-800-875-1747 • Fax 716-875-1792

Audio Response 716-875-1747 – Phone Option 4www.riversidecreditunion.com

SupervisoryCommittee

Tip of the Month : Scammers Exploit the FTC’s Good Name, Promise Phoney Sweepstakes Prizes FTC Consumer Alert - Federal Trade Commission Bureau of Consumer Protection Division of Consumer & Business Education*Continued

Keep from falling for the lure of sweepstakes scams by taking a few precautions:• Don’t pay to collect sweepstakes winnings. If you have to pay to collect your winnings, you haven’t won anything. Legitimate sweepstakes don’t require you to pay “insurance,” “taxes,” or “shipping and handling charges” to collect your prize.

• Hold on to your money. Scammers pressure people to wire money through commercial money transfer companies like Western Union because wiring money is the same as sending cash. If you discover you’ve been scammed, the money’s gone, and there’s very little chance of recovery. Likewise, resist any push to send a check or money order by overnight delivery or courier. Con artists recommend these services, so they can get your money before you realize you’ve been cheated.

• Look-alikes aren’t the real thing. It’s illegal for any promoter to lie about an affiliation with — or an endorsement by — a government agency or any other well-known organization. Disreputable companies sometimes use a variation of an official or nationally recognized name to try to confuse you and give you confidence in their offers. Insurance companies, including Lloyd’s of London, do not insure delivery of sweepstakes winnings.

• Phone numbers can deceive. Some con artists use Internet technology to call you. It allows them to disguise their area code: although it may look like they’re calling from Washington, DC, or your local area, they could be calling from anywhere in the world.

• File a complaint with the FTC. If you receive a call from someone who claims to be a representative of the government trying to arrange

Visit www.FTC.gov to find more information on scams and managing your money.

for you to collect supposed sweepstakes winnings, file a complaint at ftc.gov or call 1-877-FTC-HELP. Your complaint will be most useful to enforcement officials if you include the date and time of the call, the name or phone number of the organization that called you, the FTC employee name that was used, the prize amount, the amount of money requested, the payment method, and any other details.

The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.FOR THE CONSUMER1-877-FTC-HELPftc.govFEDERAL TRADE COMMISSIONOctober

Thomas H. Rew, President

Richard Maziarz, Secretary

William Brick, Jr., Treasurer

Gary Shonitsky

Robert McCleery

Paul Sulpizio

Jeffrey Pietrzyk

Peggy Gervase

Rodger White

Margaret Perkins

John Sanabria

David Wilder

Independence DayLabor DayColumbus DayVeterans DayThanksgiving DayChristmas Eve - 1/2 DayChristmas DayNew Years Eve - 1/2 Day

July 5September 6October 11

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