Shared Interests JANUARY 2016

In this issue Pay it Green ................................................................. 2

Secured or Unsecured? .............................................. 3

Online Voting Reminder ............................................ 4

2016 Election ................................................................ 4

New Year’s Resolutions for Businesses .................. 6

Free Tax Preparation Services ................................... 7

Points Change .............................................................. 8

Apple Pay Now Available for HVFCU Visa Cards Apple PayTM is a convenient way to pay for purchases with your personal and business HVFCU Visa® Debit and Credit cards. Make purchases at participating merchants and within mobile apps using Apple Pay on any iPhone 6, Apple Watch, or select iPads. For detailed instructions on how to set up Apple Pay on your iPhone or iPad, visit the iPhone and iPad support page at https://support.apple.com/en-us/HT201239.

Apple Pay is a safe way to pay for purchases. A merchant will never receive any part of your specific credit or debit card information, such as your name, card number, or security code, etc. This keeps your personal information private and more secure.

Account Access–Anywhere, Any timeMobile Banking lets you access your accounts virtually anywhere you go. As long as you are traveling with mobile device in hand, you are never far from viewing your account activity.

Mobile Banking is available for both Apple and Android devices and lets you check balances, view account activity, make transfers between your accounts, view copies of cleared checks, pay bills – even text bank and deposit checks to a savings, checking, or money market account with Remote Deposit Capture. The latest version of our app also lets you sign on with your fingerprint for those devices that support Touch ID.

You need to be an Internet Banking user in order to use Mobile Banking, so if you’ve got that covered, you can get started by downloading our app from the Apple iTunes Store, Google Play, or the Amazon Appstore. If you aren’t an Internet Banking user, just give us a call and our staff will give you online access.

Bank More ConvenientlyBanking online has become one of the primary ways our members manage their accounts. However, are you using Internet Banking to its full capacity? Take a look at all you can do:

Manage Your Accounts. Access your accounts 24/7 with online banking; check your balance, transfer funds, set up account notifications and more.

Pay Anyone, Any Time. Transfer funds into almost anyone’s account, regardless of their financial institution with Popmoney. All you need is the recipient’s email address and account number.

Set Up Alerts. A great part of the online banking experience is your ability to set up free alerts to keep you informed of your account activity. Set up alerts so you know when you have a low balance, when a transaction has been made, and more.

Bill Pay. Create your own payment schedule with our free bill paying service. Arrange for automatic payments, paperless billing, account notifications, and more, all within Internet Banking.

Go to hvfcu.org to see all of the ways you can keep your account in check.

Fall Electronic Recycling Event In September, HVFCU held its second annual electronic recycling event at the Dutchess County Fairgrounds, collecting more than 45 tons of electronics! All the electronic waste equipment collected was dismantled and recycled. A big “Thank You” to all our environmentally conscious members for helping us reduce landfill.

Pay Your Bills the Green Way

You already know that paying bills online is convenient and easy—and absolutely free to members. But did you know that by paying bills online you’re helping the environment as well? If all U.S. households received electronic bills and paid their bills online, it would save:

• 2.3 million tons of wood or 16.5 million trees.

• 1.6 billion pounds of solid waste or 56,000 fully loadedgarbage trucks.

• 26 million BTUs of energy, enough to provide residentialenergy to the city of San Francisco for a year.

• 3.9 billion pounds of toxic air pollutants, an amount equal tothat produced by 355,000 cars.

Go Paperless with eStatementsWant to receive your account information more quickly and securely? You can, with convenient eStatements through Internet Banking. You’ll find eStatements to be:

Environmentally friendly - No paper is consumed. No trees are destroyed.

Fast - eStatements are delivered to your email box immediately after processing. No waiting 5-7 days for a paper statement to arrive in the mail.

Secure - Your statement is encrypted and password protected through Internet Banking.

Effortless - View or download financial records to your computer or money management software for easy access.

Call, click, or stop by to sign up for eStatements today.

How to Raise Your FICO ScoreHaving a good FICO score is very important if you want to get a lower interest rates on loans, credit cards, and other sources of credit. If your FICO score isn’t quite as high as you’d like it to be, here are a few ways you can raise it.

• Get a secured credit card. Use it like a credit card and chargeup to the matching amount secured in a designated savingsaccount. There is no way for you to overcharge or misspayments. Using the card can increase your FICO score.

• Don’t apply for too much credit. If you have a flurry of creditinquiries on your credit history because you applied for 10different credit cards in a three-month period, it can loweryour FICO score. Try to limit yourself to two inquires each year.

• Pay off outstanding debt. Even one old, unpaid debton your credit report can really drag your FICO scoredown. To undo the damage that has been done, pay it offand make arrangements with the creditor to have thejudgment removed.

• Don’t close old accounts. Unused, old accounts attribute toyour length of credit history and affect your score. The longeryou have an account, the better it looks. Closing old accountscan actually lower your FICO score.

• Always pay bills on time. Each late payment can lower yourscore by as much as 20 points. In contrast, paying your bills ontime consistently raises your FICO score.

• Lower your debt. Having a significant amount of outstandingdebt can lower your debt-to-income ratio, and in turn, yourFICO score. Lower your total debt and watch your FICOscore increase.

If you are having a hard time managing your credit and raising your FICO score to an acceptable level, consider getting professional help through a low cost or no cost credit counseling service such as BALANCE.

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2016: Resolve to Save More Experts suggest that you try to save between 5% and 10% of your take home pay each year. But don’t set money aside only when there’s some left over; pay yourself first. The key here is automatic savings. Automatic account transfers, payroll deduction, and direct deposit are ideal

tools for moving money out of your hands before you have the opportunity to spend it. To help

you, we offer several dividend-bearing accounts, such as money markets

and certificates, and tax-deferred vehicles in which to park it. All of our accounts come with low minimum balance requirements to help you start saving.

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Secured or Unsecured? Personal loans and credit cards are both excellent sources of credit, but which one should you use? It all depends on what you are purchasing and when.

A personal loan is an unsecured loan you can use for just about any purpose. Many members use it for debt consolidation, college expenses, or a vacation. It is a closed-end loan, meaning that you’ll receive one lump-sum amount upon approval, and you’ll pay fixed monthly payments for the term of the loan. At HVFCU, there is no penalty if you wish to pay off any loan early.

On the other hand, credit cards have a revolving balance with no specific term. The credit line replenishes as the balance is paid down, so you can access it repeatedly. They are especially convenient for online shopping and travel. You can pay off the entire balance or make payments. It’s up to you.

Which one should you use? It depends on why you need to use credit. In general terms, if you’re making a smaller purchase (between $500-$1,000), you may want to use a credit card and pay off the balance quickly for minimal impact (if any) from interest. However, if you need to borrow more than $1,000, you may want to consider a personal loan with fixed payments and a definitive term, making it easier to budget.

HVFCU offers both types of unsecured credit for your benefit. Review the personal loan and credit card options available to you at hvfcu.org, give us a call, or stop by any branch.

February is Financial Aid Awareness MonthIt may be a short month, but in February there is a lot to take care of if you’re in college or starting this fall. Over 65% of undergraduate students receive financial aid or assistance, but you must do the work to find it. Fill out your FAFSA (Free Application for Federal Student Aid) at fafsa.ed.gov — your first step in receiving any federal aid.

Look at the programs your college of choice has to offer. Many have scholarships for merit, course of study, ethnic background, or need. Scour the web for more scholarships and grants. Check out websites like FastWeb.com, studentaid.ed.gov, finaid.org, and www2.ed.gov/finaid. These sites provide free searches for thousands of scholarships from all over the country. Many colleges even provide links to help you in your search.

Financial aid comes in many forms so don’t limit yourself. Check out military connections, faith-based groups, the scouts, 4-H, Rotary and Lions Clubs, and other local organizations as well. In addition, HVFCU also sponsors an annual scholarship contest.

Millions of dollars are left on the table because no one asked or applied. Take the time and reap the benefits.

Track Your Loan Online

We’ve enhanced our online loan applications so that you can now track the status of your vehicle, Readi-Cash, or other consumer loan application. You’ll create a user ID and password when applying that allows you to check the application after submission.

2016 ElectionUnlike other financial institutions, your credit union’s Board of Directors is comprised entirely of volunteers from among our membership. This year, the Nominating Committee has nominated the following four candidates for the three open positions in our Annual Election. Please exercise your right as a credit union member to vote in this year’s HVFCU Board of Directors Election. Results will be announced at the Annual Meeting on April 26, 2016.

Marianne Collins

Present and Past Work Experience: Dean of Advancement and Continuing Education at SUNY Ulster (Retired 2015). Led and supervised the College Foundation and all the programs and initiatives of the Continuing and Professional Education Division including the Small Business

Development Center. As Chief Advancement and Government Relations Officer, served as a member of the president’s executive staff. Previously, Governor’s Mid-Hudson Regional Representative, coordinating NYS’s response to the IBM downsizing in the early 1990’s; Director of Individual Giving at SUNY New Paltz; grant-writing/development consultant for not for profit corporations; and Executive Director of Creative Music Foundation.

Education: BS Political Science, State University College at Buffalo.

Credit Union Involvement: I have only recently become an HVFCU member and maintain a savings account.

Civic Involvement: Served for 14 years as a member of the SUNY New Paltz College Council, as a Board member of Family of Woodstock, the Woodstock Guild of Craftsmen, and the Ulster County YWCA. Former trustee of the Woodstock Library and co-chair of the Historic Woodstock Library Fair. Founding member and first Chair of the Friends of Hudson Valley Libraries. Former Treasurer of Friends of the Hudson Valley Inc., an organization committed to fostering smart and sustainable growth. Founding member of the Pauline Oliveros Foundation (securing funding for artists and art-related projects). Served on the Ulster County Charter Commission, the Charter Transition Committee, the Ulster County Workforce Investment Board, Ulster County BOCES Vo-Tec Advisory Committee, the Catskill Interpretive Center Siting Committee, the Stewart Airport Commission Noise Abatement Committee, and the National Association of Jazz Educators and Bond Street Theatre Coalition Advisory Boards.

Christopher Wyble

Present and Past Work Experience: IBM since 2000. Currently Social Business Transformation Leader, creating apps and tools that enable IBM’s sales force to connect with their clients to solve business problems. Previous positions with IBM include Mobility

Services, Ecosystem Skills Development, Program Manager and Solution Project Manager. Also Group Fitness Instructor at Mike Arteaga’s Health & Fitness Center since 2007.

Education: MS Management, Rensselaer Polytechnic Institute. BS Computer Science, Lehigh University, cum laude. Project Management Professional (PMP®), Project Management Institute (PMI), 2006–present. IBM Certified Expert Project Manager, 2010 – present. Leadership development courses include LEADing@IBM Leader Readiness lab, 2008; and Leader Foundation self-directed learning, 2007.

Credit Union Involvement: Member since 2001. HVFCU is my primary financial institution. Credit Union volunteer since 2012 serving on the Policy and Governance Committee and the Volunteer Information Security, Technology, & Access (VISTA) Task Force. Candidate for the Board of Directors in 2015 and 2016.

Civic Involvement: July 2012–present, Hudson Valley Federal Credit Union, Poughkeepsie, NY. December 2011 – present, GLSEN Hudson Valley, Poughkeepsie, NY. April 2013 – present, Benesecure Ltd., Poughkeepsie, NY.

Joseph E. Eppich

Present and Past Work Experience: IBM retiree. Last positions included: Consulting Contract Professional - Software; Senior Engineer & Contract Negotiator; Large Systems Packaging Manager; Technical & Resource Planning Manager - Poughkeepsie

Laboratory; and Semiconductor Technology Forecaster. NY National Guard and US Army.

Education: M.S. Electrical Engineering, Syracuse University; B.S. Mechanical Engineering, Polytechnic University of NY; numerous courses and refresher training within each of the fields of: contractual law; intellectual property law; negotiating; management; programming. Dale Carnegie Institute Assistant Instructor. Various and on-going Credit Union industry seminars. Hudson Valley Commercial Fruit Growers’ School. NYS Dept. of Environmental Conservation pesticide license.

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Credit Union Involvement: Board of Directors 1989 – present: currently Second Vice Chairman of the Board and Policy & Governance committee member. Past Board Officer positions include: Chairman; First Vice Chairman, Secretary; and Assistant Treasurer. Past member or Chairman of the following committees: Branch Activity; Benefits; Headquarters’ review; Space (site locations); Charter Conversions; Management & Personnel; and Asset Liability Management. Director of HVFCU’s wholly owned CUSERVE subsidiary. Supervisory Committee member 1983-1988 and Chair 1987-1988. Credit union services used: Savings (regular, money market, certificates of deposit); Checking; Overdraft protection; Web-banking; MAGIC; credit card; ATM; Signature Guaranty; Sale of Stock; and Home and Car insurance.

Civic Involvement: Currently: Vassar College Lehman Loeb Art Center volunteer; Mount Alvernia Retreat Center volunteer (bingo caller); Germania Singing Society Honorary Member; Cornell Cooperative Extension of Dutchess and Ulster Counties; Cornell Hudson Valley Research Laboratory in Highland; and Gottscheer KUV. Previously Board of Trustees of Vassar Brothers Institute.

Misty Decker

Present and Past Work Experience: IBM Corporation, Program Director – zSystems Academic Initiative. Previously Program Manager – STG University Alliances, Development Manager –zSeries I/O Firmware, and Project Manager - zSeries Customer

Satisfaction. Various technical positions within IBM.

Education: MS Information Systems, Marist College, 1993. BS Mathematics, Virginia Tech, 1991. MS Certificate, Project Management, GWU, 2000. PMI Certification, 2001. IBM Management Training, 2007.

Credit Union Involvement: Member since 1991. Board of Directors since 2010. Chair of Policy and Governance Committee since 2012. Led a special project to ensure processes are in place to constantly assess member needs and measuring how those needs are met.

Civic Involvement: 2014 Co-Chair of the Whale of an Auction for Chancellor Elementary School. Singer in Cappella Festiva Chamber Choir from 1991 to the present and previously served as the choir’s President and Concert Chair.

Tuesday, April 26, 7 pm, Anthony’s Pier Nine, 2975 Route 9W, New Windsor

This year’s Annual Meeting will be held in Orange County for the first time at Anthony’s Pier 9 in New Windsor. As announced at last year’s event, Annual Meetings will now be standard business meetings with a review of the state of the credit union. There will be no guest speaker, gifts, refreshments, or raffles. To ensure the safety of our members, volunteers and staff, everyone attending the meeting will be required to pass through a security check-point. Potentially hazardous items (such as pocket-knives or weapons) will be held by security personnel during the Meeting or you will be asked to return them to your vehicle. Thank you.

Watch for our 2015 HVFCU Annual Report available online and in branches Wednesday, March 23, 2016.

Nomination by PetitionIn addition to the candidates nominated, any member age 18 or older may petition for a position on the 2016 election ballot. Petition forms are available on January 4, 2016 by calling 845.463.3011, ext. 3402. Your completed petition signed by 500 or more current members must be received by 5 pm ET on Friday, February 5, 2016, at the Nominating Committee’s post office box. Solicitation of signatures on credit union property is not permitted and will invalidate a petition, and completed petitions will not be accepted at any HVFCU office. No nominations will be permitted from the floor at the Annual Meeting.

Online Voting ReminderRemember that beginning this year, if you use eStatements, you will receive your annual Board of Directors ballot via email. Eligible voting members who do not use eStatements will continue to receive a paper ballot; however, all eligible members may vote online or by phone. Please watch for your ballot – electronic or paper – after March 23rd.

New Year’s Resolutions for Business OwnersThe New Year signifies a fresh start and an opportunity to make changes that improve our lives. When making your 2016 New Year’s resolutions, be sure to have a few that focus on enhancing your

business. These three tips can help you begin:

Resolution #1 Dive Deeper into Your Finances – You may be an expert at running the daily operations of your business, but do you have the same level of knowledge with your business finances? If the answer is no, then it’s time to take a closer look. Your business finances reveal more than just profits and losses. They are a window into your company’s success and opportunities for improvement. This is also a good time to find new ways to improve your cash flow. Mortgage rates are still low and one of the best ways to reduce expenses is to refinance your commercial building. Doing so could save you tens of

thousands of dollars in interest over the life of your loan.

Resolution #2 Lean on Your Business Partners – It’s important to surround yourself with a team of professionals who can provide specialized guidance that helps keep your business thriving. Team members will vary based on your unique needs, but at a minimum it should include your accountant and your banker. Leverage their expertise and industry knowledge for specific ways to elevate your company’s performance. For example, you may already know that you need to purchase, modernize, or improve a commercial property. One possibility is an SBA 504 loan, which allows for as little as 10% down. SBA loans are a great resource—even for businesses less than two years old. These programs are often underutilized because they aren’t as well-known as other financing options. Be sure to speak with your

team about all available options.

Resolution #3 Invest in Your Business – Armed with the results of your financial check-up and advice from your business partners, you can begin to formulate a new business plan. Think about how your business fares against competitors and where you should invest to gain an advantage. For example, HVFCU worked with a medical practice that had outgrown their space. Their waiting room was too small and hindered their ability to meet the needs of their growing practice. The credit union provided them with a commercial mortgage for a larger facility with a spacious waiting room that would allow them to increase their patient base and profits.

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Supervisory Committee Volunteers NeededWe are currently seeking volunteers who would like to serve on our HVFCU Supervisory Committee. This committee is responsible for ensuring that the credit union is operating within government guidelines and regulations. It’s a busy position that requires thoroughness and attention to detail. If this sounds like you, apply online, download an application at hvfcu.org, or call 845.463.3011 ext. 3402 to have one mailed to you. Applications must be received by 5 pm Friday, April 22, 2016, either online or at the Nominating Committee’s post office box.

Affordable Check Cashing If you have a large check and need immediate access to the funds, take advantage of HVFCU’s check cashing service*. No matter what type of check—tax refund, attorney, handwritten, etc.—you’ll get your money on the spot without having to wait for it to clear. Stop by any branch for details. HVFCU’s check cashing service is also an affordable alternative for anyone who needs to cash checks, but doesn’t have a checking account.

*HVFCU charges a fee of 1.5% of check amount for government and payroll checks and

2.15% of check amount for all other check types.

Free Tax Preparation ServicesFree tax preparation services are currently available for local low and moderate-income individuals, families, and seniors. These services are provided in Dutchess, Orange, and Putnam Counties through the Hudson Valley CA$H Coalition, a group of organizations dedicated to helping families and individuals in the Hudson Valley save money and improve their

financial stability. Those in need of this service can schedule an appointment to have a certified volunteer prepare their 2015 federal and state income taxes. Tax preparation sites are located throughout the Hudson Valley, including HVFCU’s Newburgh and Carmel branches. If you or someone you know can benefit from free tax preparation services, please call the United Way’s help line on or after January 15, 2016 at 2-1-1 or 800.899.1479 seven days a week from 9:00 am to 7:00 pm ET. A call specialist will review eligibility, make an appointment, as well as provide directions to tax sites and a complete list of required documents for an appointment.

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What’s on Your Horizon in 2016?It’s time to take a fresh look at your finances with HVFCU Financial Services.

Like most people, you’re probably starting off 2016 with some New Year’s resolutions to improve your overall health and wellbeing. These may include joining a gym or spending more quality time with your family. While improving your physical, emotional, and spiritual health may be top of mind, don’t overlook your financial health. It’s just as important.

The New Year is a great time to take a fresh look at your financial plans to make sure you’re still on track to achieve your goals. Schedule a free, no-obligation consultation with an HVFCU Financial Services Consultant at any branch, call 845.463.3366, or go online to hvfcu.org/consultations.

Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. Hudson Valley Federal Credit Union and HVFCU Financial Services are not registered broker/dealers and are not affiliated with LPL Financial.

Not NCUA Insured | No Credit Union Guarantee | May Lose Value

Board of DirectorsNoreen Hennessy, ChairmanTakao Inouye, First Vice ChairmanJoseph E. Eppich, Second Vice ChairmanNancy Kappler-Foster, Treasurer David S. Bagley, Assistant TreasurerWilliam L. Spearman, SecretaryStephen M. Caswell, DirectorMisty V. Decker, DirectorHenry J. Rodgers, Jr., DirectorJan Mahar Sturdevant, Director Emeritus

Supervisory CommitteeJeffrey S. Battistoni, ChairWilliam J. Mulvey, SecretaryCarlos L. Acosta, MemberKathleen Dispensa, MemberJohn Hogan, MemberTuknekah Noble, Associate MemberElinor Speckman, Associate MemberDaniel F. Thomas III, Associate Member

845.463.6934 | 800.468.3011P.O. Box 1624, Poughkeepsie, NY 12601scmail@hvfcu.org

President & CEOMary D. Madden

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Federally insured by the NCUA

BranchesMonday-Friday 8:30-7:00 and Saturday 9:00-5:00

4 Tucker Drive, Arlington324 Main Street, Beacon2 Terrace Drive, Carmel6 Schuyler Boulevard, Fishkill101 Tillson Avenue, Highland415 Route 376, Hopewell Junction4011 Albany Post Road, Hyde Park1639 Ulster Avenue, KingstonRoute 211, Fairgrounds Plaza, Middletown30 Hawkins Drive, Montgomery 953 Route 300, Newburgh265 Windsor Highway, New Windsor12 North Avenue, Pleasant Valley159 Barnegat Road, Poughkeepsie6740 Route 9, Rhinebeck11 Marshall Road, Wappingers Falls

Monday-Friday 8:30-5:30 and Saturday 9:00-2:001620 Route 22, Brewster

HVFCU ATMsAll HVFCU BranchesAdams Fairacre Farms, Route 44, PoughkeepsieBridgeview Plaza, Route 9W, HighlandEast Fishkill IBM Bldgs.* 300, 320, 323, 330Gap/Old Navy Distribution Center, Fishkill*Nine Mall, 1810 South Road, Wappingers FallsPoughkeepsie IBM Bldgs.* 052, 416, 705Putnam Hospital Center, 670 Stoneleigh Avenue, CarmelVassar Brothers Medical Center, Poughkeepsie*Employee accessible only.

TDD (for hearing impaired)845.463.1709

Points Change Effective February 1, 2016, HVFCU Visa Debit cardholders will earn one point for every $3 spent on signature-based transactions. Please visit our website for a set of complete terms and conditions for the HVFCU Rewards! program.