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A Dream, Answered

February 28, 2014

LetterTopAt First Source, we put our highest premium on you, our Members. Our whole job is about supporting you in your dreams, no matter how big or small. We really value your feedback, so it’s especially rewarding and humbling when a Member takes the time to let us know they appreciated something we did for them. Here’s a wonderful note from a Member. And we’d love to hear from you—so please let us know if we did something well, or can do something better!


I heard about the low financing available for home equities, which is what sparked my interest originally a couple years ago. I had already had a home equity loan with First Source a few years back.

The woman who I had been dealing with was no longer there, so I was introduced to Pete. He was such pleasure to work with, extremely helpful to me and my husband. I asked many questions and Pete was very, very knowledgeable. And if he didn’t know, he found the answer within minutes.

I was attracted to First Source as their rates were very low. Everyone from the person at the front desk, to the tellers, to the loan specialist were so very friendly, always willing to help with a smile on their face. They have saved me a lot of money with the low rate that I am getting for my home equity loan. The process was extremely easy, I only needed to give them a few papers and Pete did all the rest.

I have recommended my friends to First Source and to specifically ask for Pete as he is very easy going and so intelligent. I am the type of person that is not comfortable talking about money with people I don’t know. Pete made it so easy. I had dealt with other credit unions in the past for years and I am happy to say I will be staying here. I am very happy to be a member of First Source Federal Credit Union.

Whenever I had called Pete with a question, he always returned my call very quickly if he was busy helping someone else, and no question of mine was ever silly to him. He made my experience very smooth and comfortable. I will now be opening a savings account for my children. Excellent service, very helpful and caring employees.

– Lisa Skowron, First Source Member

Posted in: members

First Source at the AHA Indoor Mall Walk

February 28, 2014

Ten First Source Employees got up early and started their day off heart-healthy! Not only did they exercise by walking, they also raised awareness and funds for the American Heart Association during their New Hartford Indoor Mall Walk.

mall

Posted in: Indoor, Walk

How Does First Source Staff Dream Big?

February 26, 2014

Your dreams are our dreams. When we’re able to help you afford your dream home, send your kid to college, retire early, drive off in your new car – that’s what makes us happy. Several of our employees were recently recognized for doing just this. We had 13 inductees into the 2013 President’s Circle for outstanding service in helping our Members achieve their dreams.

Congratulations to:

  • Mike Orsomarso
  • Mary Beth Geglia
  • Melissa Sack
  • Ashley Dever
  • Sue Maxam
  • Kim Crye
  • Peter Berowski
  • Dawn Arabia
  • Russ Hayes
  • Cheryl Sylvester
  • Julieann Maciag
  • Girlie Ann Baldwin
  • Mel Greiner

Posted in: Staff

It Pays to Save Early…Literally

February 18, 2014

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‘Compound interest’ is a term it is very good to be familiar with, especially if you’ve just started your first job. Let’s say you’re in your early 20’s, just graduated from college and got a job making roughly $35K. You save about $5,000/year for retirement. Let’s say you do this for 10 years saving $50K. Then something happens, you have a life change and end up not contributing any more to this initial savings. Your existing savings will still continue to grow until you retire when you’re 65.

Now let’s say instead, you were unable to save right away. But at around 40 you had a secure job making roughly $75K, and now you could start to save. So you save $10K/year for 10 years, saving $100K. At 50, you have a life change and cannot contribute any more. But your initial savings grow until you retire at 65.

In both scenarios, let’s say your investment grew at 10%/year. At age 65 your totals would be very different. The “you” who started saving in your early 20’s would have a little over $1 million to retire. The “you” who started saving at 40, even though you contributed more, would have only a little over $500,000.

Why?

Time. Investments take time to grow and the longer you have, the better. So even if it doesn’t seem like much, it’s better to start saving even a little now, than waiting to save more later.

Want to know more and see what will work best for you? Talk to our friends at Choice Investments. They’ll customize a plan that works within your budget. It’s never too early to start. Call them today at 315-732-7200.

Posted in: savings

National Wear Red Day

February 7, 2014

Today is The American Heart Association’s National “Go Red” Day and First Source is proudly be participating. This is a day when our employees wear red and our physical branches will be sporting the color too. We do this to help raise awareness of heart disease in women. Many of our employees and Members are women. It is important to us to help educate them as well as the greater community on taking care of yourself and knowing the signs of a heart attack.

Women tend to take care of others, putting their family, friends and jobs first. Inevitably, this means they are putting themselves last. Women need to focus on themselves too. They need to listen to their bodies. Sometimes the very symptoms of a heart attack can be perceived as stress and are often ignored.

First Source is honored to do our part to empower, educate, and encourage women to take charge of their health. Join us in supporting the American Heart Association and the Go Red for Women movement on May 7th at the Go Red for Women Luncheon at Hart’s Hill Inn. This will be First Source’s fifth year as the Luncheon’s Presenting Sponsor.

Posted in: Red, Wear

Actual Balance versus Available Balance

February 4, 2014

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Ever catch yourself overdrawing your account and you could have sworn that money was in there? Here’s what may have happened. If you made a check deposit after 2:00 p.m. at many financial institutions that money is actually not available until the next business day. If it’s a Friday, you’re not seeing it until Monday! This means if you had $40 in your account and deposited $100 (after 2:00 p.m.), your actual balance is $140, but your available balance is still only $40. If you go grocery shopping that night and spend $75, you’ve just overdrawn your account.

If you’re depositing a check for a large amount, or from an unfamiliar business, there may be a hold placed on the check. On average this can be from 3 – 5 days. While it may seem unfair at first, this is actually done to protect you. You would not want to go spending that money and have the check not clear. Then you would be on the hook to pay overdraft fees on the money you spent that never actually made it into your account. The good news is we will notify you if a check is being held so you should be aware that those funds are not yet available.

With First Source, here are some instances that this will not happen. 1. If you deposit cash versus a check. Cash will always be available immediately, including Saturdays. 2. If you deposit a payroll check. These funds are always available immediately.

What about an ATM deposit? No matter how much you deposit through an ATM, (check or cash) only $200 is available immediately per day. The full amount is available after 2 days. So if you deposit $500 on Wednesday, you’re actual balance is $500. But your available balance is only $200 on Wednesday and Thursday. Your available balance will jump up to $500 on Friday.

Sometimes the actual date a transaction happened can vary from the date when the place you’ve spent the money pulls those funds. You may go to dinner on a Saturday night and spend $50. That $50 may not actually be withdrawn from your account until Tuesday. It’s up to you to know that you’ve already spent it. The best thing you can do is keep your register current and check your balance frequently online.

Posted in: Tips

First Source Federal Credit Union Supports Dreamers Everywhere

February 1, 2014

Do you have a dream you haven’t shared yet, or wonder if it’s out of reach? Our new commercials this year focus on you, and what inspires you. We believe that if you have a dream, you deserve a chance to make it come true. That’s why we support you, no matter what your dream is. So keep imagining a better life. Go ahead and dream big, and share yours with us to get started on making it real. Just ask.

Posted in: TV

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