The Boardcast

Why UFirst Federal Credit Union Is Offering a 0% Fuel Loan

I don't normally include information about UFirst FCU products in the Boardcast. The purpose of the Boardcast has always been to highlight information from the UFirst Board of Directors and the wider credit union world in the hope that UFirst FCU members (and other interested readers) will join a dialogue with the board on these topics. This post is different. UFirst has placed a large ad in today's Plattsburgh Press Republican announcing a fuel loan being offered to our members during the month of August. This loan is different from any other product we've ever offered. It is an interest free loan for up to $3000 for one year to be used to assist our members in paying fuel bills this winter.  Recently, the local media has been full of news about the crisis that residents of the North Country face this winter. The cost of oil, kerosesne and other heating fuels have doubled since last year. Our members are faced with an unanticipated increase to their fuel bills that many cannot afford. Family budgets have already had to be adjusted because of the increases in gas and food prices. Many members are scrambling to find room in their budgets to handle this additional increase in home heating costs. The UFirst board and management have been discussing a way that we, at UFirst, can respond to this crisis. It is with this in mind that the board approved setting aside $100,000 to offer fuel loans to members during the month of August. Members who would like to take advantage of these loans should talk with Loan Officers Colleen West or Lois Nichols who will be happy to explain the terms and conditions.

We are also pleased to anounce that UFirst staff will be part the Heating and Energy Fair being held at the Town of Plattsburgh Town Hall tomorrow, August 2nd from 10am to 2pm. An editorial in today's Plattsburgh Press Republican gives the followng description,

"Here's a partial list of the subjects to be discussed or displayed at the fair: chain saws, log splitters, wood stoves, insulating equipment, pellet stoves, outdoor boilers, indoor wood and coil units, bio bricks, electric boilers, solar energy and systems, chimney pipes, infrared heating systems, natural gas, geo-thermal systems, masonry heaters, windows, LED recession lights, furnaces, computer controls for furnaces, energy-saving add-ons, energy audits, infrared thermal imaging, all kinds of electrical heating systems and devices, furnace cleaning and home-equity, fuel-interest and other loans."

UFirst members are encouraged to attend the Heating and Energy Fair for ideas to save on energy costs this winter. UFirst believes that the entire community can benefit from this information.

Our Plattsburgh High School Members

Students from Mrs. Karen's Rock's Career and Financial Management Class returned to the UFirst Operations Center on February 13, 2008. This visit was part of the NEFE, High School Financial Planning Program which the students have been using in their class since October. The students have been active members of UFirst since the class began. During this visit, Jody Carpenter, UFirst's Marketing Director, discussed strategies for spending, saving and investing money. She also spoke with the students about how to protect themselves against identity theft. As part of their NEFE instruction, the students "shopped" for cars using local ads. They submitted a practice loan application and Jody completed the calculations so that they could see their loan payment amounts. Staff and board members hope that UFirst will be the first stop these students will make when they are ready to purchase their first car.

The students enjoyed refreshments supplied by Mrs. Rock. Congratulations to these students who have completed the first half of this valuable, financial education program.

(Flickr Slideshow of PHS Visit)

UFirst FCU Offers Scholarships

UFirst is offering local high school seniors entering college a chance to win a scholarship to help finance their education. UFirst is participating in the New York State Credit Union League's statewide credit union scholarship program. This program offers UFirst members the chance to win scholarships to either a two-year or four-year accredited educational institution.

To be eligible, students must be a member of UFirst FCU and a high school senior attending college for the first time in the fall of 2008. Student/applicants will be competing against other credit union members from across the state. Applicants will be judged on their academic achievements, extra-curricular and community activities and the quality of a written essay.

Last year the NYS Credit Union League awarded $13,500 in scholarships through this program. UFirst FCU awarded $1500 to three members in 2007.

For more information, contact Jody Carpenter by phone 518-324-5700 or email jodyc@ufirst.net.

Scam-Smart

Most of us have seen stories about people who have lost money on scams. We all like to think of ourselves as being smart enough to spot scams and avoid them by discarding or not listening to those offers that sound "too good to be true". One type of scam with many variations is "The Fake Check Scam". Fake check scams result in the loss of thousands of dollars each year and we all like to think that we could never be fooled. The National Consumer League has developed a website designed to alert us to how fake check scams can vary and what makes some people at risk of being entrapped by them. The National Consumer League is a not for profit organization that has been in operation over 100 years. It's mission is...

...to protect and promote social and economic justice for consumers and workers in the United States and abroad. The National Consumers League is a private, nonprofit advocacy group representing consumers on marketplace and workplace issues. We are the nation's oldest consumer organization.

NCL provides government, businesses, and other organizations with the consumer's perspective on concerns including child labor, privacy, food safety, and medication information.

Their website FakeChecks.org provides an entertaining way to learn about fake check scams and how to avoid them. Videos on FakeChecks.org are used to illustrate how scammers operate in a variety of settings. In spite of the fact that these videos had the feeling of caricatures, they made valuable points. I found the most interesting link to be the Fraud Tests. These quizzes are designed to measure an individuals risk of being scammed. Many of us think, "That couldn't happen to me" and then, unknowingly, we find ourselves in circumstances that can lead to scams. Exploring FakeChecks.org only takes a few minutes and can help prevent us from being complacent about scams and our immunity to them.

(Please note - If you ever receive a communication online that appears to be from UFirst FCU and asks you to give personal information DO NOT RESPOND! Call the credit union as soon as possible)

...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 Unveils New Debit Card Benefits

UFirst FCU will be offering the ScoreCard Bonus Point program to members holding its debit card. UFirst is the first credit union in the area to unveil this program.

The ScoreCard Bonus Point program enables cardholders to earn Bonus Points for each purchase dollar. Cardholders save and redeem these Bonus Points for their choice of gift merchandise, ranging from digital thermometers to CD players and gift certificates. Or, they can use their Bonus Points for hotel discounts or a round-trip coach airline ticket to any destination in the US, Caribbean, Europe or Asia.

If you don't have a debit card, apply for one today so that you can take advantage of this great UFirst product. If you'd like more information on the ScoreCard Bonus Point Program call UFirst FCU at 561-4110.

Member ATMs

View Larger Map

At UFirst FCU you, the member, come first. We are always looking for ways to make your "banking" experience more convenient. UFirst has member ATM's at 4 convenient locations in Plattsburgh. Click on this interactive map to get details about these ATMs. Members also have access to Surcharge Free ATM's in may other locations through our membership in CO-OP Network, the largest credit union-only ATM  network in the country.