OnTHEMoney

FIRSTNEWYORK

MARCH/APRIL 2017

1937 - 2017

Years ofMember Service

What’s Happening at FNY

Free SeminarsSolar SeminarThursday, April 6, 20176:00 p.m. – 7:30 p.m.First New York Community Room2 Wall Street, Colonie

Home - Buyers SeminarThursday, April 27, 2017 6:00 p.m. - 7:30 p.m. First New York Community Room2 Wall Street, Colonie

Investment Property SeminarWednesday, April 5, 20176:00 p.m.- 7:30 p.m.Capital Region Chamber of Commerce5 Computer Drive, Albany

A Letter from the President/CEO

Schenectady Teachers Federal Credit Union was formed in 1937 by a group of caring individuals whoknew a financial cooperative would make a difference in the lives of many. They were right. 80 years laterthe credit union is financially strong, technologically forward thinking and member focused.

As we began, our name, Schenectady Teachers Federal Credit Union, accurately reflected our intent toprovide services to educators and their families in the Schenectady area. Our name was changed to FirstTeachers FCU to welcome additional school districts and partners into our membership. In 2004, weadopted our First New York FCU name after being granted the 5-County Community Charter that allowsus to serve anyone who lives, works, worships or attends school in the counties of Albany, Schenectady,Rensselaer, Schoharie or Saratoga.

At First New York, we serve over 31,000 members that include your family, friends and neighbors. To celebrate the growth of the credit union we are offering three promotions that will save you money andput you on the right financial path to realizing your dreams.

During the months of March and April, First New York will pay all of the closing costs for a Home Equity Loan or Home Equity Line of Credit – this means mortgage tax, too. We will help you build yourdream addition, pay for your children’s education or consolidate your debt – without closing costs.

Now is the time to refinance your auto loan from other financial institutions. During March andApril, we will pay you up to $150.00 when you refinance your auto loan with First New York.

Not everyone needs a Home Equity loan or has an auto loan – but everyone can use an extra $5.00.During the months of March and April, sign up for e-statements and we will deposit $5.00 into your account. It’s easy and it’s green. You save the paper and we give you the green.

In 2017, we continue the tradition of a financial cooperative designed to save you money with competitive loan rates and convenient services. We offer auto loan rates as low as 1.74% APR with an easyapplication and approval process. We approve loans for those with stellar credit and those who have hit abump or two along the way. We offer you a free copy of your credit report with advice on how to improveyour score. We offer free debit cards, free checking accounts, free internet banking and free mobile banking.

We love what we do, and we know that we would not be in business if it were not for you. Thank youfor being a member at First New York FCU and entrusting your finances to us.

Sincerely,

Lucy Gottung Halstead, President/CEO

2017 Annual Meeting, Wednesday, April 26, 5:30 p.m.Stockade Inn, 1 North Church Street, Schenectady

Visit our Used Auto Sale!

On April 8th from 9 a.m.-1 p.m.

at our Niskayuna branch, 1776 Union Street,

Niskayuna

Holiday ClosingsMemorial DaySaturday, May 27, 2017andMonday, May 29, 2017

Home Equity LoansLet your home work for you

www.firstnewyork.org 3

Looking to renovate your home or consolidatedebt? A home equity line of credit (HELOC) is a greatway to leverage the value of your home and ensureyou have funds available for whatever you need.

The Run Down� Borrow up to 90% of the value of your home up to $417,000

� No annual fees� Quick Approval Process

There are two ways to get value from yourhome. The home equity line of credit type dependson your situation and your needs. Compare the options:

Variable Home Equity Line of Credit � Revolving line of credit for 10 years � 25-year repayment term � Introductory rate as low as 1.99% APR*

Fixed Home Equity Line of Credit� Low, fixed interest rate for the life of the loan� Revolving line of credit for 5 years with a fixed rate

� Flexible repayment terms – 10, 15, 20 years

We make it simply to apply - no need to visit a branchApply online at www.firstnewyork.org and click the “Apply Now” tab on the home page or contact a

Loan Expert at 393-1326 and press ‘3’.

During March & April -

No Closing Costs and We Pay theNew York State Mortgage Tax Too!*

*Closing costs including the New York State Mortgage Tax paid by First New York on behalf of the borrower. No closing costs offer ends 4/30/17. Reimbursementof fees will be added to the payoff amount of the loan if the home equity line of credit is paid and closed within three years of closing. Title insurance may be required. Minimum loan amount is $10,000, maximum is $417,000. **Annual Percentage Rate. SPECIAL INTRODUCTORY OFFER: Rates for Home Equity Line ofCredit (HELOC) are variable. Special Introductory Rate is as low as 1.99% APR for the first 13 months then as low as prime plus 0.00% APR thereafter. Rates arebased on 80% combined loan-to-value with a 25 year repayment term and are based on the Prime Rate published in the Wall Street Journal with an 18.00% APRlifetime ceiling and a 4.00% APR lifetime floor. Prime Rate as of February 2017 is 3.75%. This is a limited time offer and only applies to new First New York loans.All loans are subject to credit approval and actual rate may vary.

08Years of Member Service

Years of Member Service

UpcomingCommunity Shred DaysThe events run from 9 a.m.-1 p.m.

June 10 - Albany Branch818 Central Avenue

June 24 - Saratoga Branch424 Maple Avenue (Route 9)

July 8 - Cobleskill Branch795 East Main Street

August 5 - Glenville Branch19 Glenridge Road

August 19 - Niskayuna Branch1776 Union Street

September 9 - Rotterdam Branch1879 Altamont Avenue

Save 10% on your auto insuranceand reduce points on your NYS license*. The cost for each class is $22 per person and reservations are required. Seating is limited.

To reserve your spot call 393-1326 ext. 1804. Online defensivedriving classes are also available at www.firstnewyork.org.

Saturday, April 8 9:00 a.m. – 3:30 p.m.

Monday, May 15 andWednesday, May 176:00 p.m. – 9:00 p.m.

Tuesday, June 6 and Thursday, June 86:00 p.m. – 9:00 p.m.

First New York, Community Room2 Wall Street, Colonie

Sponsored by First New York FederalCredit Union and Liberty Mutual

Defensive Driving Classes

4 www.firstnewyork.org

Two positions on the Board of Directors are open for election at the 2017 Annual Meeting forFirst New York Federal Credit Union scheduled for Wednesday, April 26, 2017. A nominating committeeconsisting of Richard L. Palmerino, Gary Comley and David Wagner has nominated two individualsto stand for re-election for three year terms: Charles R. Smith and Timothy E. Schramm.

Nominating petitions on behalf of members seeking election to the Board of Directors may be completed and returned to the credit union by close of business April 10, 2017. Petitions must be signedby at least 1% of the membership, with a minimum of 311 and a maximum of 500 signatures.

A resume of qualifications, experience and biographical information should be provided,along with a signed statement indicating a willingness to serve should you be elected. Petitions areavailable by calling Terri Clasen at 393-1326, ext. #1201.

Nominations will not be accepted from the floor during the Annual Meeting, and there will beno balloting if there is only one nominee for each vacant position.

Election for the Board of Directors

Charles R. SmithCharles R. Smith has served

on the Board of Directors of First New York FCU since 1980. He has held the position of Chairman of the Board since1993. Previously he served as a member of the Supervisory Committee. He holds aBachelor of Science Degree from SUNY Brockportand a Masters Degree in Education Administrationfrom SUNY Albany. He is retired from the City ofSchenectady Public Schools where he held variouspositions including teacher, assistant principal,and principal.

Timothy E. SchrammTimothy E. Schramm

has been a member of First New York FCU since1990. In May 2001, he beganserving as a volunteer on the Supervisory Committeeand from 2011 he served in the position of Associate Director. He was appointed to the Boardas a Director in 2016. He earned a Bachelor ofScience degree from the University of Wisconsinat Madison. Mr. Schramm is the database administrator for the City School District of Albany where he has worked since 1990.

Wednesday, April 26, 2017

Business Meeting begins at 5:30 p.m. (light refreshments)

Stockade Inn 1 North Church Street, Schenectady

To RSVP, please call the Marketing Departmentat 393-1326 ext. 1804 by April 19, 2017.

Join Us for Our 2017 Annual Meeting

BOARD OF DIRECTORSCharles R. SmithChairman of the Board

Brian KrawieckiTreasurer

Ronald Szczepanski, Ph.D.Secretary

Matthew LynchDirector

Timothy SchrammDirector

Donna MicheleDirector

Kevin VeitchDirector

Erin CoufalAssociate Director

Erin HughesAssociate Director

Richard PalmerinoDirector Emeritus

SUPERVISORY COMMITTEERichard ArthurChairman

James Dunham

Robert Roback, Jr.There is a 100 lb. maximum ofshredding per person.

*Actual discounts and point reductions mayvary. Consult with your auto insurance carrierfor more details.

www.firstnewyork.org 5

Free Seminars

First New York would like to help takethe mystery out of the home-buyingprocess and walk you through the stepsfrom applying for a mortgage to movinginto your new home.

Hear from professionals in the mortgageindustry, including an Attorney, RealEstate Broker, Home Inspector and aMortgage Lender.

All attendees will receive a couponfor $200 off closing costs on mortgagesobtained through First New York.

Seating is limited. To reserve your spot,call 393-1326 ext. 1804 by April 26.

Home – BuyersSeminarThursday, April 27, 2017 6:00 p.m. - 7:30 p.m.First New York Community Room2 Wall Street, Colonie

First New York has partnered with The Girl Scouts ofNortheastern New York to offer our branch locations for their cookie sales.

Look for the Scouts at our various branches sellingtheir delicious treats on Saturdays from 9 a.m.- 1 p.m.

For a list of cookie sale locations, please visit ourwebsite at www.firstnewyork.org and select the “Events” tab.

Some of the benefits to switching yourpaper statement to e-statements include:

� Faster Delivery - with e-statements youcan access your account statement muchquicker than if you receive your statementthrough the mail.

� More Secure - your statement is not e-mailed to you, and it can’t be viewed byanyone with access to your e-mail. We sendyou a notification that your e-statement isavailable on First OnLine. To view yourstatement log in to our home banking product, First OnLine, which has multiplelayers of security. Receiving your statementelectronically also reduces the risk of identity theft since a mailed statement can be delivered incorrectly or stolen from your mailbox.

� Convenient - you no longer have to keepprinted statements for your records becauseyour statements are archived electronicallyfor 24 months.

� Environmentally Friendly - we allwant to do what we can to reduce our carbon footprint. Electronic mail is muchkinder to the environment than having apaper statement printed and delivered.

� Saves First New York Money - bychoosing electronic statements rather than paper statements you can help thecredit union reduce its expenses. Every dollar we save is a dollar we can return to our members in the form of lower fees and low rates on our loans.

Enroll in e-statements by visiting FirstOnLine, clicking “e-statements” under the accounts page and following the simple instructions to enroll.

If you need assistance signing up, contacta Member Service Specialist at 393-1326 andpress ‘2’.

It’s Cookie Time!

Solar SeminarThursday, April 6, 20176:00 p.m. – 7:30 p.m.First New York Community Room2 Wall Street, ColonieTo register, please call 393-1326ext. 1804 by April 5.

You’ll learn how solar systems work on your home and how solar can saveyou money and help preserve our environment. We will also be covering financing, state incentives, site assessments and tax credits.

Going Green=$5Sign up for e-statements today!

Receive $5 during when you sign upfor e-statements, our free electronicstatement service.

Available from March 1- April 30.

Investment Property SeminarWednesday, April 5, 20176:00 p.m.- 7:30 p.m.Capital Region Chamber of Commerce5 Computer Drive, AlbanyGuest Speaker: Bill Chow,Commercial Business DevelopmentOfficer, First New York FederalCredit UnionTo reserve your spot, please call393-1326 ext.1804 by April 3.

6 On the Money6 www.firstnewyork.org

Finance or RefinanceWe’ve Got You Covered

Of all of our products and services, members tell us that Auto Loans continue to set us apartfrom the banks. Our low rates mean more affordable monthly payments. Our terms give you flexibility – including the ability to earn up to $150 cash for refinancing your current auto loan.

Follow these steps before you buy:

� Get pre-approved for your loan with First New York.

� Take notes. If you plan to shop around, this will help you remember what each car has to offer.

� Ask questions. This is a big decision. By receiving a pre-approval, you can take the guesswork out of the loan process and concentrate on getting the best deal for your car.

� To make sure you are getting the best rate and deal, give us a call before you finance anywhere else.

Refinance your current auto loan from another financial institutionfor as low as 1.74% fixed APR*, plus we’ll give you up to $150.**

*Fixed Annual Percentage Rate (APR). Rate listed includes a 0.25% APR discount for automatic loan payments. 1.74% APR rate is based on 2010-2017 model years with a 24 or 36 month term. Rates arecurrent as of 2/1/2017 and are subject to change at any time. Financing up to 100% of book value or purchase price, whichever is lower, plus tax, title, registration and warranty. Other rates and terms mayapply. All loans are subject to approval and actual rate may vary. **Minimum loan amount eligible for cash back offer is $7,500 and actual amount of cash back will be determined by amount of finalamount financed. Offer applies to model years 2010-2017 only. Does not apply to existing First New York loans. Cannot be combined with any other offers. Offer expires 4/30/2017.

Already have an auto loan with another financial institution? Refinance with us for a lower rate.You could reduce your monthly payment and save money over the term of the loan.

Why Refinance your Auto Loan with First New York?

� Lower your monthly payment

� Pay off your loan faster

� Enjoy competitive rates as low as 1.74% APR*

� Get up to $150** cash

Applying is quick and easy!Apply anywhere, anytime at www.firstnewyork.org, or call 393-1326 andpress ‘3’ to speak to a Lending Expert.

Visit our Used Auto Sale!

On April 8th from 9 a.m.-1 p.m.

at our Niskayuna branch, 1776 Union Street,Niskayuna

Whether you are looking for a new or used auto, First New York offersfinancing that will put you in the driver’s seat of your dream car for less.

We’ll give you up to $150** to make the switch!

Offer ends April 30, 2017

www.firstnewyork.org 7

Tell Us Where You Want To Go. We’ll Help You Get There.

Perhaps you’re just beginning to build thefoundation for your future, or maybe you’rean empty nester with the new found freedomto travel and pursue lifelong dreams. Maybeyou are nearing retirement, hoping to maintain a comfortable lifestyle while ensuring you won’t outlive your assets.

Whatever your stage of life, Don Dorr, ourMEMBERS Financial Representative, can helpwith top-notch financial and investment advice. He uses a full spectrum of investmenttools and options designed to help youachieve your dreams.

Don Dorr has the depth of knowledge and the breadth of experience to guide you to where you want to go. From a full range of offerings, he will help you choose the investment options that will help you bestreach your financial goals.

At First New York, you can trust us to help you build your wealth. To arrange a no-cost, no-obligationmeeting, simply call Don Dorr at 393-1326 ext. 1301.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registeredbroker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members.Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

We Can Help Your Business Thrive Let us help you with your financial needs.� Secured Business Lines of Credit� Overdraft protection for your business checking� Business Credit Cards

Commercial Vehicle LoansGet your business rolling in the right direction with a commercial vehicle loan.� Competitive rates� Up to 100% financing on qualified vehicles� Vehicles can be titled in the business name� No prepayment penalties

Investment Property LoansReap the rewards of an investment property loan.� Low interest rates� Variety of repayment terms� 5/5 ARM, 10 Year balloon, up to 25 year amortization� No prepayment penalties� Purchase or refinance your property up to 80% LTV

Since the beginning, we’ve been with our membersevery step of the way.

� Online and Mobile Banking with Bill Pay� Business checking accounts � Instant Issue Visa Debit Cards� Competitive business loan produts

For all your business needs, call Bill Chow, Commercial BusinessDevelopment Officer at 393-1326 and press #1008 or e-mailwilliam.chow@firstnewyork.org.

Our mobile banking services delivers account access to you anywhere, anytime,through your mobile phone or tablet. So regardless if you are at home, at work, or atplay, you can be in touch with your First NewYork accounts, day and night. Mobile bankingis available, FREE*, to all members.

With First New York :� Deposit checks with Remote Check Deposit� Send money through Popmoney®

� Login with the touch of a finger using Touch ID� Pay Bills� Transfer funds between accounts� Locate Free ATMs & Shared Branches� Set alerts to notify you of account activity � Transfer money� Text banking

To get startedVisit the App store , Google Play or

Amazon and search “First New York”. Onceyou download our app, the login process issimple; just use your established First OnLineusername and password.

Not a First OnLine user? Simply enteryour First New York account number as yourusername and the last 4 digits of your socialsecurity number as your password. Follow theprompts to log in and access your account.

Banking at the Speed of LifeManage your finances anytime, anywhere with Mobile Banking!

6 On the Money

Saving is Fun! Join First New York’sKID$ Banking Program

Our KID$ savings program helps childrenunderstand that saving their money andwatching it grow is not only fun but very rewarding.

Some of the ways First New York is helpingchildren learn is by teaching them that even asmall deposit each week adds up to significantsavings. This basic understanding of savingand the pride that it instills will carry withthem throughout their life.

We make saving money fun and interactiveby rewarding our children with prizes for every 5th deposit they make. Plus, studentmembers in grades K through 12 can earn$20 per year for bringing their quarterly report card in to any one of our branches. Additionally, First New York partners with over

28 Capital Region schools to bring our KID$program right to their school. Visit us onlineat www.firstnewyork.org for a full list of participating schools.

The in-school banking program is funand an interactive way to provide hands-onbanking experience right in the child’sschool. At regularly scheduled “bank days,”students can open memberships and make deposits to their accounts.

If your student’s school does not participate,visit any First New York Branch to enroll.

If your school is interested in receiving moreinformation on our in-school program, contact Sayla Eisner-Mix at 393-1326 ext.1803 or sayla.eisner-mix@firstnewyork.org.

*Carrier rates may apply for text banking.

www.firstnewyork.org 8

*Annual Percentage Rate. Rate quoted is for a 24 month term and includes a 0.25% discount for automatic payments. Other rates and terms available. Rates are subject to change at any time and all loans are subject to approval.

Life happens. That’s why First New Yorkoffers Lifestyle Loans. Every member has aunique lifestyle and deserves a loan that is justas unique. At First New York, we understandthat situations arise and you may need moneyfor things which are well, unique.

Lifestyle loans help make your dreamscome true without building up high creditcard debt.

Lifestyle Loan Terms

� Fixed rates as low as 6.74% APR*� Repayment up to 60 months� Borrow up to $25,000

Our loan covers anything you need.

� Weddings� Cosmetic Surgery� Adoption� Fertility Treatments� Car repairs/improvements� Home Furnishings� Day Care Expenses� Exercise Equipment� Veterinary Care� Anything

Get purchasing power, perks, and convenience witha First New York Visa® credit card and get the rewardsyou want with ScoreCard points.

Low rates and feesFirst New York offers all NEW Visa® Gold credit card

holders an introductory rate of only 6.99% APR* for 13 months. That’s a lot of buying power.

We also offer no balance transfer fees, whereasmany financial institutions charge a 3% fee of thetransferred amount.

Visa alertsWith Visa Alerts, you will receive free, real-time

alerts to your e-mail and mobile phone to monitoraccount activity. These alerts serve as an early warningfor potential fraudulent activity and help you better manage and track your spending.

Quick approvalYou can apply for a credit card and receive a

decision in minutes. Just contact a Loan Expert at 393-1326 and press ‘3’ or apply online 24 hours a daywith WebLoan 24 at www.firstnewyork.org.

ScoreCard bonus pointsFirst New York Visa credit cards earn Scorecard

bonus points for every purchase. You can use yourpoints towards travel rewards such as airline tickets, vacation packages, cruises, hotel stays, rental carsand more. Destinations are worldwide.

See why thousands of credit union memberschoose First New York Visa Credit Cards. Apply today!

With This Rate–You Would be Excited Too!

Life Happens... Make the Most of Your Money

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*Annual Percentage Rate. Special introductory rate is as low as 6.99% for the first 13months then as low as prime plus a margin thereafter. Prime Rate as of February2017 is 3.75%. The introductory rate is applicable for balance transfers and purchasesonly. Rates are subject to change at any time. Offer valid for new First New York creditcard holders only. All loans are subject to approval.

No BalanceTransfer FEE

Rates as low as6.99% APR*

No Annual Fee

ScoreCard Rewards

Quick Approval

Apply online at www.firstnewyork.org or call us at 393-1326 and press ‘3’.

Main Number (518) 393-1326 � 1 (800) 734-7375LocationsNiskayuna ATM 1776 Union Street Cobleskill ATM 795 East Main StreetGlenville ATM 19 Glenridge RoadAlbany ATM 818 Central AvenueRotterdam ATM 1879 Altamont AvenueSaratoga Springs Drive-up ATM 424 Maple Avenue (Route 9)Colonie Drive-through Service 2 Wall Street (at New Karner Rd)

& Community RoomWebsite www.firstnewyork.org E-mail member.services@firstnewyork.org

On the Money is a newsletter published for the benefit of First New York Federal Credit Union members. ©2017 First New York FCU

2 Wall Street, A lbany, NY 12205

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

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

Mobile:m.firstnewyork.org Text: 454545 First New York mobilebanking app available on:

First New York’s First Annual

Annual Percentage Rate. Rate is fixed. Rate listed includes a 0.25% APR discount for automatic loan payments. 1.74% APR rate is based on 2010-2017 model years with a 24 or 36 month term.Rates are current as of 2/1/2017 and are subject to change at any time. Financing up to 100% of book value or purchase price, whichever is lower, plus tax, title, registration and warranty. Other rates and terms may apply. All loans are subject to approval and actual rate may vary.

Get pre-approved before the sale, call 393-1326 and press ‘3’, online at www.firstnewyork.org or visit any First New York Branch.

Lending Experts will be on site for immediate approval.

First New York and 2010 Auto Sales have teamed up to offer membersa great opportunity to save money on high-quality used autos.

Join us for a Super Sales Spectacular Day at First New York’sNiskayuna Branch on:

Saturday, April 8th, 9 a.m. – 1 p.m.1776 Union Street, Niskayuna

Get rates as lowas 1.74%* APRUsed Auto Sale!