The Boardcast

...And Now a Word From Our Sponsor

UFirst FCU has placed 3 different commercials on both local and cable TV stations. Members who don't watch much TV or who may have missed them can view one of them here.

UFirst FCU Artists

Members may have noticed a recent addition to the lobby of our new building. Board President Peter Zielinski and members of his family, Elyse and Keri Zielinski stenciled a wonderful greeting which provides an eye catching addition to the interior north wall of UFirst FCU. Thanks to Peter, Elyse and Keri for their creative addition to our lobby and to Jody Carpenter for her technical support. Their hard work provides us with a reminder of the UFirst slogan "Helping  you get there".

UFirst FCU Sponsors Training for Teachers

Created with Admarket's flickrSLiDR.

UFirst FCU in partnership with the New York Credit Union Foundation and Cornell Cooperative Extension sponsored a day long training for credit union personnel, board members and teachers at the Valcour Educational Center on Thursday, 8/23. Diane La Vigna-Wixted, of the New York Credit Union Foundation, presented curriculum for the National Endowment for Financial Education (NEFE's) High School Financial Planning Program (HSFPP). UFirst CEO Linda Bourgeois, Marketing Director Jody Carpenter and Board Member Virginia Brady attended along with representatives from GP FCU, Peru Teachers FCU and faculty from Peru Central School, Saranac Lake Central School and Ausable Valley Central School.  The HSFPP is designed to be used both in school and in the community to teach teens financial responsibility and management. It is a free program that provides tested materials which meet both federal and state instructional standards. HSFPP includes units in goal setting, budgeting, saving, spending, and the importance of protecting financial information. The HSFPP website features materials for parents, teachers and students. Local schools and credit unions will be initiating this program with students this year.

Members who are interested in having this program introduced to administrators and faculty in local schools should email The Boardcast or email Jody Carpenter at UFirst FCU.

Board of Directors Meeting - 08/21/2007

The UFirst FCU Board of Directors met at our main branch on Rugar St. on Tuesday, 8/21 at 4:30pm. The board has regular meetings on the 3rd Tuesday of each month. Jody Carpenter, UFirst Marketing Director, reported marketing activities to the board. Jody is working with Peru Teachers Credit Union and Plattsburgh City School District FCU in cooperation with school administrators and teachers at Peru Center School and the Plattsburgh City Schools to initiate financial education programs in these local schools. One of the programs called Spend, Share, & Save is targeted to grades K-5. Jody has been busy speaking to school and community groups on topics designed to encourage fiscal responsibility. Jody has taken a leadership role in the New York State Credit Union League's Real Solutions Program which is working toward Asset Building Activities for credit union members. Watch for educational services and innovations at UFirst within the next year.

CEO Linda Bourgeois announced the hiring of Karen Singer-Bleau who has recently joined the UFirst family.

Regular board business included a report on the UFirst FCU financial report, a discussion of proposed credit union services and updating the policy manual. The board has approved over 100 new members since we opened our Operations Center on Rugar St.

Members who would like to propose items for board discussion are welcome to contact Linda Bourgeois, a member of the Board of Directors or email The Boardcast.

Congratulations Linda Bourgeois

UFirst CEO Linda Bourgeois has been named to the Board of Directors of the New York Credit Union Foundation. The New York Credit Union Foundation supports those initiatives that express the credit union difference and the movement’s "people helping people" philosophy.

Diane LaVigna-Wixted, executive director of the Foundation, announced the appointment. "We are pleased to appoint Linda, who has a strong understanding and passion for the credit union philosophy, to our Foundation Board," said LaVigna-Wixted. James Mack, chairman of the NYCUF Board of Trustees added, "Ms. Bourgeois is a strong advocate of the ideals of the Foundation and the credit union movement and will be a welcome addition to the board."

Credit Cards and Older Americans

Rep. Kirsten Gillibrand (D-N.Y.) and U.S. Rep. Carolyn Maloney (D-N.Y.), chair of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit recently called a public hearing in Halfmoon NY on the unique challenges facing older consumers who use credit cards. Rep. Maloney is a cosponsor of the Credit Union Regulatory Improvement Act of 2007 (CURIA). The Credit Union Industry was represented by John DeCelle, executive vice president of the $1.4 billion asset SEFCU, based in Albany, N.Y. Mr. DeCelle observed that many older Americans use credit cards to handle financial shortfalls caused by limited income and the high cost of medication and healthcare. DeCelle testified that:

"Credit unions are concerned about the growing problems associated with credit card abuse and older Americans.  At SEFCU, we are committed to educating our members on how to manage their financial lives responsibly in an effort to reduce the instances we see each day of members committing to credit terms and conditions that are predatory in nature."

"At SEFCU, we offer card programs that provide low interest rates, no hidden fees and other benefits that meet the needs of our members," DeCelle continued. "We work with our members to fully explain the credit card rates and fees they are currently paying and show them the true costs for items purchased."

Research conducted by the Credit Union National Association indicates that credit cards issued by credit unions charge interest rates that are, on average, three pecentage points below credit cards issued by banks. UFirst FCU joins credit unions dedicated to providing an affordable credit card product for members. UFirst FCU personnel are available to assist members who need help managing their credit card debt.

Back to School

August signals back to school preparations for parents and students. Mixed with the trips to Staples and Walmart are the decisions that need to be made about tuition, book and fee payments. Most parents and students have to rely on loans for this purpose. Recently College Board officials offered students the following money-saving tips:

• Avoid borrowing up to the maximum amount. It's tempting to borrow more than you can afford to repay, especially since there are no payments while you're in school, but don't fall into this trap.
• Avoid borrowing the entire amount shown in your award letter. Borrow only what you actually need.
• Hold down expenses, work more, and explore scholarship opportunities. Bringing in more money reduces the amount of money you'll need to borrow.
• Shop for a loan with the lowest interest rate.

UFirst FCU provides student loans for members and may be able to advise the student in your home how to borrow what they need to complete college or vocational programs.

Our Branch on the SUNY Plattsburgh Campus

Account Representative Donna Miller is available to serve members at our Campus Branch located in the College Bookstore in Saranac Hall. Branch hours are Monday, Wednesday and Friday from 10am-2pm. Visit Donna at the UFirst College Branch for basic credit union transactions.

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