October, 2014

A quarterly online publication for Member/Owners.

Making Life Better

Upside Down on Your Mortgage? Let us help.

certificate specials mean high yields ahead!

Holiday “Skip-a-Pay” is back!

PLUS:2015 College Scholarship News

For our Member Owners

Many homeowners in upstate New York have found themselves to be “upside down” on their current mortgage because the value of their home has decreased, or the monthly mortgage payments they were making have increased due to the terms of their mortgage loan. Homeowners in this situation require a specialized, non- traditional high loan to value (LTV) refinancing solution which is available at Hudson River Community Credit Union. The HRCCU Equity Builder Home Loan will provide the high loan to value you need to get out from under your upside down mortgage. Give us a call at 518-654-9028, stop by your conveniently located branch or visit hrccu.org for more information on this exciting new refinancing option available through HRCCU!

Trouble finding a bank who will refinance your Upside Down mortgage?

Talk with HRCCU!

Our “Skip-A-Pay” program is back - just in time for the holidays!

Beginning Saturday, November 1, 2014 and continuing through January 31, 2015, we’re offering our member/owners the opportunity to defer an upcoming HRCCU Visa® Credit Card or Consumer Loan payment.

This limited-time offer is available to you if you meet the following qualifications:

• You have an HRCCU Visa Platinum Credit Card or Consumer Loan.

• Your Visa account or Consumer Loan must be a minimum of six months old as of November 1, 2014 and you have made six (6) payments.

• Your Visa account or Consumer Loan must be “up- to-date” and not had a past due payment history since April 1, 2014.

• Your HRCCU account must be in good standing.

To participate:

Call us at 518-654-9028 or stop by one of our conveniently located branches.

Let us know that you’d like a one-month “Skip-A-Pay”.

If you qualify, we’ll advance your payment due date and loan maturity date.

A fee of $20 will be assessed per loan. You may skip one loan payment per promotion period. Interest only Student Loans and Real Estate Loans are not included in this program. Interest and any charges for disability, and/or life insurance will continue to accrue for any skipped month. By participating in the Skip-A-Pay program, you may have a balance owed in connection with a GAP insurance claim due to the extension of the contract maturity date. This offer does not guarantee eligibility. HRCCU reserves the right to change loan eligibility at any time.

Skip- a-Pay!

HRCCU Certificate Specials! 1.00% APR 23-Month Term

0.75% APR 19-Month TermCall, click or stop by your nearest branch for more information!

APY= Annual Percentage Yield. Rates/terms subject to change without no-tice. Offer available for eligible HRCCU members only. This special rate ap-plies to Certificates only. Other Certificate rates/terms available. Dividends on Certificates compounded/credited quarterly and at maturity. HRCCU may impose a penalty if funds are withdrawn before maturity date. The penalty will equal up to 90 days of dividends on your deposit of 1 year or less. The 19-Month Special Certificate will auto renew at maturity for an 18-month term at the prevailing rate. The 23-Month Special Certificate will auto renew at ma-turity for a 24-month term at the prevailing rate. You will have a grace period of 10 business days after the maturity date to withdraw the funds in the account without being charged an HRCCU early withdrawal penalty. No interest will be paid after maturity. APY for the 19-month Certificate 0.75% is accurate as of 10/1/14. APY for the 23-month 1.00% Certificate is accurate as of 10/1/14.

For Our Member Owners

HRCCU’s Holiday Club is back!

Fall means many things in upstate New York, such as: apples picked fresh off the tree, Trick or Treaters at your front door, leaf raking, and mugs of hot cocoa by a toasty fire.

October 1 means the return of the HRCCU Holiday Club payout! Each October 1, Holiday Club savings are deposited into our members share draft accounts.

This helpful holiday savings program allows you to put money away for 2015’s anticipated holiday expenses. Fund your Holiday Club account through convenient payroll deductions or via Direct Deposit.

Deposits into your Holiday Club account can be made at any time of the year and your savings deposits into this account will earn quarterly dividends!

If you participated in our Holiday Club and made deposits to the Club account via payroll deduction, direct deposit or automatic account transfer (and did not close your account early), you will be automatically renewed for the coming year.

Please see our web site or ask any HRCCU representative for details on opening your 2014/2015 Holiday Club account!

3.

Corinth Branch Update

HRCCU to break ground on an all-new Corinth branch! Located at 312 Palmer Avenue, the new 3,000 s.f. branch will be constructed by F. H. Alexander of Ballston Spa to the immediate right of our current branch location.

The current branch will remain operational until the new one is complete - so there will be no disruption in member service during construction! The new branch will have a dedicated Truck/SUV-friendly ATM lane, three drive thru lanes as well as a childen’s play area and fireplace. Ground breaking is expected to take place in November of 2014 with completion scheduled in June of 2015!

HOLIDAY CLOSINGS Columbus Day Monday, October 13

Veterans Day Tuesday, November 11

Thanksgiving Thursday, November 27 and

Friday, November 28

Christmas Day Thursday, December 25

When our branches are closed, you can access your accounts via our Virtual Branch Online Banking System or

our Audio Response Telephone System.

You can always withdraw money at any of our no-fee ATM machines!

From the Operations Center

Now is a great time to join the HRCCU community!

As a member owner of Hudson River Community Credit Union, you understand the tremendous value that a credit union can offer. HRCCU members are not just customers, but owners as well.

Surprisingly, many of your friends, neighbors and coworkers are unaware of the advantages of credit union membership.

The next time the subject of banking comes up at home, work or in conversation with your neighbors, tell them why you feel a membership in Hudson River Community Credit Union makes good financial sense.

• Hudson River Community Credit Union has been a member-owned, not-for-profit financial institution for over sixty years.

• Your $5 initial deposit into an HRCCU share account represents your “share” of HRCCU ownership. This share gives you a voice in how our credit union is run.

• HRCCU’s annual profits are returned to our members, not to stockholders.

• As a not-for-profit institution, HRCCU can offer its members lower interest rates on loans and higher dividend rates in checking and savings accounts as well as certificate savings.

• You can join HRCCU if you live, work or worship in Saratoga, Warren, Washington or Rensselaer Counties, or the Towns of Cohoes, Green Island and Watervliet.

Personal recommendations from our members are one of the most effective ways to grow your Credit Union!

2015 Hudson River Community Credit Union Board Nominations

Hudson River Community Credit Union is governed by a Board of Directors made up of HRCCU volunteers. We are currently seeking nominations for new members to our Board of Directors. At the November 2014 Board meeting, the board shall appoint a nominating committee of 3 members.

By January 1, 2015 the Nominating Committee shall present in writing the nominations for directors to the Secretary of the board.

Nominations for directors from the membership must be made by written petition by January 1, 2015 signed by at least 250 credit union members. (Members must have joined at least 90 days prior to signing the petition.)

Directors must have been members for at least 1 year prior to being elected.

If there is more than one director nominated for a vacancy, there then has to be a mail ballot election. All terms are 3 years.

Terms Expiring 2015

Stuart FieldMargaret Foote

Carol Ann Pacco-Long

4.

Corinth Branch Blood Drive

On Friday, September 19th, the HRCCU Corinth branch hosted an American Red Cross Blood Drive.

18 units of blood were collected during this drive, which will help to provide necessary blood and blood products to 54 patients in our area.

If you couldn’t make it to our blood drive, please consider donating at your next local event. Visit http://www.redcross.org/ny/albany for details!

HRCCU in the Community

7th Annual HRCCU Golf Classic

Monday, September 15th dawned bright, crisp and clear over a misty Saratoga Lake Golf Club. This was spectacular weather and a perfect venue for the 7th Annual Hudson River Community Credit Union Golf Classic.

Eighty-two golfers took part in this year’s classic, proceeds of which went to support the Corinth Branch of the Saratoga Regional YMCA, the Cohoes Community Center and the Glens Falls Area Youth Center. Thanks to the support of our numerous donors, sponsors and golfers, our event helped to raise over $5,000 for each beneficiary.

A special thanks to Cailean MacKay and his staff at Saratoga Lake Golf Club - the course was in great shape. A special thanks as well goes to Annette Osher and her staff from Distinctive Catering & Events for providing our event’s delicious breakfast, lunch and dinner.

Thanks to our golf classic’s major sponsors:Lee & Mason Financial Services, Inc.

Bay Street Abstract • DeNooyer ChevroletPrice Chopper Supermarkets • Albany RV

Marshall & Sterling InsuranceOverton Russell, Doerr & Donovan

Branch Community Food Drive

During August, our Glens Falls and Cohoes branches held food collection drives to benefit their local food pantries. Several boxes of food and household items were collected and distributed!

Please donate a new, unwrapped toy during our upcoming holiday campaign. Boxes will be in our branches between November 17th and December 19th.

Please donate!

5.

For Our Youth & Young Adult Member/OwnersStart your child off right on the journey to financial independence!

2015 College Scholarship News!Hudson River Community Credit Union is proud to make college scholarship money available to our members.

HRCCU College Scholarship ProgramEach year, HRCCU makes available five (5) $1,000 college scholarships to college-bound high school seniors. Awards are made to qualified seniors planning to attend an accredited 2 or 4-year college.

HRCCU Making Life Better AwardIn addition to the five scholarships, one (1) Making Life Better Award is presented to a high school senior who excels academically and has volunteered 40 or more hours of exemplary community service.

Credit Union Association of New York (CUANY) ScholarshipCUANY awarded $29,500 in scholarships to 39 students across New York State in 2014. CUANY awards $500 and $1,000 scholarships to selected credit union members who meet scholarship criteria.

Applications will be available in all branches and online in December. If you would like more information regarding these scholarship programs, please contact Christine Somers at 518-654-9028, ext. 2131 or by email at csomers@hrccu.org.

The beginning of the school year typically marks new beginnings in many ways for our children. Why not take this opportunity to open an HRCCU youth savings account for your child. Helping your child to understand the value of money and the importance of saving can help to create more financially responsible adults!

Financial rewards for performing everyday household chores can go a long way to helping your child learn about the value of money. However, when children place part of their earnings into a dividend-paying savings account and see their money grow — that’s when your child will truly begin to understand the value of a dollar.

An HRCCU Youth Savings Account is a great place for your children’s savings. Your child’s $5 initial deposit represents their share of ownership in HRCCU. Your child’s federally-insured deposits will see compounded quarterly dividends in this account until they turn age 18. Find out more. Call 518-654-9028, stop by one of our conveniently located branches or visit hrccu.org for more information on HRCCU Youth Savings Account, today!

6.

Find the words below:

AUTOLOAN COHOES CORINTH CREDIT FRIENDLY GLENSFALLS HELPFUL HOLIDAYCLUB

HOMELOANSHUDSONFALLSMAKINGLIFEBETTERNEIGHBORSTROYSCHOLARSHIPSSCHOOLBANKING

How to Reach Us PHONE:

Corinth: .................................... 518-654-9028 Glens Falls and Hudson Falls: 518-743-0561 Troy and Cohoes:.................... 518-237-1121 Toll Free:.............................. 1-800-824-0700

24-Hour Audio Response SystemCorinth, Glens Falls & Hudson Falls:....................... 518-654-7330Troy and Cohoes: ................... 518-237-4582

FAX: ........................................ 518-820-2189 Loan FAX: ............................... 518-654-6507

WEB:www.hrccu.org

Email: General questions: info@hrccu.org Collections: alemay@hrccu.org Donation Requests: donations@hrccu.org

Operations Center: One Third St., Corinth, NY 12822 BRANCHES AND 24 HOUR ATMS:

CORINTH: 312 Palmer AvenueCOHOES: 35 Niver StreetGLENS FALLS: 160 Broad StreetHUDSON FALLS: 3762 Burgoyne AvenueTROY: 40 Leversee Road

BRANCH HOURS: Monday to Wednesday Lobbies: 9:00 am - 3:30 pm Drive Thrus: 8:00 am - 5:00 pm

Thursday and FridayLobbies: 9:00 am - 6:00 pm Drive Thrus: 8:00 am - 6:00 pm

Saturday: Lobbies: 9:00 am - 1:00 pm Drive Thrus: 9:00 am - 1:00 pm

The Last Word HRCCU thanks our military veterans for their service.At this time of year, we are reminded of the service and sacrifice made by the members of our armed forces at home and abroad.

HRCCU gives thanks to our military veteran members and their widows/widowers and participate in the FAVOR (Find and Aid Veterans of Record) Program. This program offers a number of valuable discounts, including access to special HRCCU loan discounts and increased certificate dividends.

HRCCU provides participating military veterans and their widows/ widowers a 0.25% Annual Percentage Rate interest rate decrease on any Auto or Consumer Loan for which they may qualify.

Plus, HRCCU will offer a 0.25% Annual Percentage Yield dividend rate increase on any share certificate (up to 18 month term). The HRCCU member must present their FAVOR Program ID Card at the time the account is opened or loan is applied for.

For more information, please visit hrccu.org/loans/favor or ask any HRCCU Call Center Representative or Financial Services Officer.

7.

In Our Branches

JenniferMoved from

Troy to Cohoes Branch.

Nicole Promotion to Head Teller,

Corinth Branch.

Cindy Moved from

Cohoes to Troy Branch.

Hudson Falls Branch5th Anniversary Celebration!

Be sure to stop by our Hudson Falls location on Friday, October 24th at 11 a.m. to help us celebrate our Branch’s anniversary!

There will be hot dogs, chips, soda and more!

In what could be the largest single breach of confidential payment data in history, Home Depot has confirmed that they were subject to an unauthorized breach of its payment data system.

Payment data information from more than 60 million Home Depot customers who made in-store purchases since April 1, 2014 may be affected by this breach.

At this time, there is no evidence that the breach has affected payment data for online purchases or those made in Home Depot’s stores located in Mexico.

HRCCU continues to monitor the fraud reports and will reissue cards to members impacted by this breach.

Notice suspicious activity? Call us at 1-800-824-0700.

Data Breach