New College Cash Student Loan Program

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1 Enjoy the Benefits of Credit Union Membership New College Cash Student Loan Program Volume 27 Number 2 January 2008 For many years the credit union has offered low rate Stafford and Parent PLUS loans to help families cover the costs of higher education. As educational costs continue to rise, however, federally guaranteed loan programs are often not enough to meet tuition costs. That s why ESM-NS is proud to offer our new College Cash student loan program to help bridge the gap when standard financial aid sources are not enough. This exciting new program, designed for student members who are enrolled in college or graduate school at an accredited institution, offers many great features like: Up to $6,000 per semester As much as $35,000 in total loans Interest only payments while in school Low fixed rates after graduation Low payments and up to 12 years to repay once out of school A qualified co-signer is generally required for the program but, depending on the credit history of the borrower and co-signer, interest rates may be as low as prime rate! As an added bonus, graduates can receive rate discounts in two easy ways: when their monthly payment after graduation is automatically debited from an ESM-NS share draft checking account and if they have their net payroll electronically direct deposited to the same account. Also, if you have already graduated and have high interest rate loans with another lender, you can apply to consolidate them with a new College Cash loan from ESM-NS! The program offers low rates, low payments and best of all -- the piece of mind of dealing with local people that you trust right here at the credit union. Stop in and apply for your College Cash loan today! APR = annual percentage rate. Rate is variable during interest only period and ranges between the prime rate and prime plus 2.5% (high prime rate published in the Wall Street Journal), depending on credit scores. Interest on $5, at the current prime rate of 7.24% would yield a monthly interest payment of approximately $ A balloon payment is due within 180 days of departing a college program and may be refinanced at a fixed interest rate for up to 144 months. Subject to credit qualifying. Other terms and conditions apply. Contact the credit union for details. Wrap Up Your Holiday Debt Just in time for those post-holiday bills, the credit union is offering great rates on new balance transfers! From February 1 st through March 31 st any new balance transfer to an ESM-NS VISA Credit Card of balances from another financial institution will enjoy a great low fixed rate of just 5.9% APR for 18 months! So transfer balances to your ESM-NS Visa card today, or stop in to apply for a new card. What better way to wrap up your holidays than by saving interest with a fixed rate below prime for the next year and a half! APR=Annual Percentage Rate. 5.9% rate fixed on balance transfers for the first 18 billing cycles. Rate charged on unpaid balances will revert to contract terms. Minimum payments apply. Excludes refinance of existing ESM-NS debt. Contact the credit union for details.

2 Students Take Apprentices Under Their Wings ES-M high school students associated with the school s Spartan Branch program began an exciting new bank at school program for K 8 students in the district last year. They served as mentors and role models for younger students as they reinforced the importance of establishing good savings habits early in life. Students Team Teach Adult Finance Seminars The credit union s Spartan Branch program at ES-M high school took an exciting new turn this year. Not only are volunteers from the student run branch holding after school seminars for their peers, but they have also graduated to team teaching adult education seminars with ES-M school board members and credit union personnel. Highly informative seminars on topics like budgeting and identity theft have already been held this fall, and the following sessions are currently scheduled for 2008: Take Charge: Using Credit Cards Wisely to Build a Strong Credit History Wednesday, January 23, 2008 and Home Buyer Education: Preparing Your Finances and Shopping for a Home Wednesday, March 19, 2008 This year, they have expanded their role and are working side by side with some of these same students, who now serve as apprentices to the high school teams. These students are now learning not only about good savings habits, but are also about cash handling, communication and teamwork skills from their high school mentors. Many of these younger students will no doubt be future volunteers at the high school s Spartan Branch as they get older, and the credit union is proud to be sponsoring a broad financial literacy program that touches so many parts of the ES-M community. All sessions are open to the public and will be held in room B-10 at ES-M high school at 7:00 pm. Reservations are appreciated, but not required, and can be made by contacting Bill Sweeney at the credit union at Stop in for a seminar to learn more about these vital topics, and to support these highly motivated students in their new venture. Don t forget CUC Mortgage still has great rates to help finance the home of your dreams!!! Call us today at for more information. Scholarship Opportunities ESM-NS Federal Credit Union is an education leader in Central New York, not only with creative financial literacy training for our student members, but also in making significant scholarship and grant opportunities available to our student members. In our ongoing efforts to support higher education, we are pleased to sponsor applications for the 2008 ACCEL Education Exchange College Grant Program. As a member of this organization, we are able to pass along the opportunity for access to $50,000 in grants awarded each year to deserving students. Applications will be available at the Credit Union in mid-january and are due back by March 15, 2008.

3 Welcome Important Information About Your ATM Card We would like to welcome the staff and volunteers of Buckley Landing, who along with their family members now have access to all services offered by the Credit Union. Buckley Landing is senior assisted living facility in North Syracuse. People who care for the elderly fit right in with the Credit Union s philosophy of people helping people, and we are happy to be welcoming their staff and volunteers to the ESM-NS family. In our ongoing effort to keep our members accounts secure we will be canceling and replacing all of our ATM cards in the near future (white cards with CU building logo). You will receive a letter in the next few months providing specific information about the change. Our current cards have no expiration date listed on the face of the card, and new cards will be issued with expiration dates, which will allow us to add an additional security enhancement to our cards. Most members will be issued new cards prior to their existing card being canceled unless: - You have a VISA debit card already open on the account. - You have not used your ATM card in the past 6 months. Please watch for information about the ATM card upgrade in your mailbox soon. Dear Bill, Pat and I would like to thank you for helping us with our recent Home Equity loan from ESM-NS. It was nice to know we had someone on our side as we went through the process. You kept us in the loop as challenges came up because of our not being able to locate the abstract on our house, and we truly appreciated your help. We were also very pleased with the Credit Union s attorney, Mr. Lupia. Although he was representing the Credit Union, we felt he was also working on behalf of us too. He explained all the possible scenarios in regards to the abstract and was very professional at the closing. ESM-NS is very fortunate to have Mr. Lupia as their attorney. We want to thank our members for their understanding during our construction project at the East Syracuse office. The new second floor addition will provide much needed office space for our growing back office Members Speak Out In light of the fact that our abstract problem was resolved in our favor in a timely fashion we are very pleased. However, please understand had it turned out differently, our positive feeling towards the employees we met at ESM-NS and Mr. Lupia would be just as strong. In the past with other financial institutions we have dealt with, Pat and I have felt like just another number in their system. Our experience with you and ESM-NS was completely different. Please share our praise with your team. We are happy to be a part of the ESM-NS Credit Union. Sincerely, Michael & Patricia Ruf Building for Your Future and administrative functions, freeing up member contact areas downstairs to allow us to serve you better. Over the years members and their families have done more and more of their business with us, creating the need for us to add Mike has been with OCM BOCES for 23 years and is a teacher of the deaf at Solvay high school. He and his wife Pat, along with their three daughters, live in Liverpool. staff to provide the highest quality service possible. We want to thank you for your patience during construction, and for your trust and loyalty that you show us every day by allowing us to assist you with your financial needs.

4 ATM s Where You Are How Others Stack Up* ESM-NS 57,000+ Chase 8,500 M&T 1,600 Key Bank 1,450 Citizens Bank 1,400 Partners Trust 50 Alliance Bank 31 Access to 300 ATM s with in a 50 mile radius of Syracuse. ATM access in all 50 states, and Canada. 32,000 Allpoint ATM s at major retailers like, Sears, Target, Rite Aid, and more. ESM-NS ATM Network Gives Members Access to over 57,000 Surcharge Free ATM s Did you know that ESM-NS Federal Credit Union Members have access to over 57,000 ATM s nation wide? Our members have access to more surcharge free ATM s than any of the largest national banks. Even banking giant Bank of America with their 16,000 ATM s can t compete! EMS-NS members have unlimited access to over 60 Sharenet ATMs in Central New York, over 25,000 CO-OP network ATM s, and 32,000 ATM s in the Allpoint ATM network. Our members have great access to their money near or far from home, even when traveling in Canada or Europe. The extensive ATM network available through the Credit Union is a great benefit to our member, particularly for student members in college, retirees who go south for the winter, and members who enjoy traveling. To locate network ATM s just log on to click on the network icon and enter the zip code where you will be. Also Remember to check out your local Wegman s Supermarket ATM where you can take care of your banking needs, including making deposits, while doing your grocery shopping. With 24- hour phone service through Easy- Tel, free computer home banking, and over 57,000 surcharge fee free ATM s at your disposal nationwide, it has never been easier to do your personal banking whenever and wherever you want to. 25,000 Co-Op credit union based locations. Over 60 Sharenet locations in Central New York at Kinney Drugs and other popular locations. *Based on Financial Institutions published information as of 11/6/2007

5 ANNUAL MEETING Notice of the Annual Meeting Of the ESM-NS Federal Credit Union Date: Saturday, April 5, 2008 Place: Doubletree Hotel, Carrier Circle (formerly the Wyndham Hotel) ELECTIONS AND BALLOTING Open for Raffles: Noon Lunch Buffet: 1 pm to 2 pm Business Meeting open to all members: 2 pm to 3 pm Voting (if required) Noon to 1 pm A raffle will take place at the Annual Meeting to help finance our scholarship fund. Any donations would be appreciated. We will have prizes for children and adults. Annual reports will be presented and final balloting for the election of officers will be conducted. BUFFET PRICES Credit Union Members Adults - $7, Children under 12 - $3 Nonmembers Adults - $12, Children under 12 - $6 Reservation deadline will be March 28, Tickets will be available at the Credit Union offices. PROCEDURES In an attempt to provide each member of the Credit Union an increased opportunity to participate in the election of the Credit Union officials, our bylaws provide as follows: Nomination: Two different methods are prescribed to obtain nominations: Note: No nominations will be accepted from the floor at the Annual Meeting unless there are not sufficient nominations by other means to fill all vacancies. NOMINATIONS FROM THE NOMINATING COMMITTEE Three vacancies on the Board of Directors must be filled by the election. The committee has met and has submitted the following slate for the Board of Directors: 1. Kevin Conroy 2. Terry McCarthy 3. Paul Schantz Nominations are now in order by petition of the membership. Any member may file a petition either for her/himself or for another. A minimum of 88 signatures of members is required on each petition and a statement by the nominee must be attached signifying a willingness to run if nominated, and to serve if elected. A short biographical sketch and list of qualifications should also be submitted with the petition. Petition forms may be obtained from the Credit Union office. Deadline: All petitions must be mailed to the Secretary, Barbara Schwab, 207 Lee Terrace, East Syracuse, NY 13057, postmarked no later than February 25, Three methods of balloting will be used: * 1. Absentee Ballots. If for some reason, a member is unable to vote at the office or at the Annual Meeting, a ballot may be requested in writing from the Secretary, not later than 5 pm on March 6, Voting at the office. A ballot box will be placed and the polls will be open in the Credit Union office at 7200 Kirkville Road, East Syracuse, N.Y. during regular office hours (9 am to 4 pm) on Monday, March 31, Voting at the Annual Meeting. Balloting will take place at the Annual Meeting at Noon if needed. Members will sign a registration sheet and pick up your ballot as you enter the meeting room. All balloting will cease when the polls are closed, at 1 pm. *Note: No balloting will be necessary if there is only one nominee for each office. If there are questions regarding these procedures, contact the Credit Union at (315) Nominations made by the Nomination Committee. 2. Nominations made by petitions of the membership. Members may attend the Annual Meeting only, without attending the Lunch Buffet.

6 Candidates for Board of Directors Kevin Conroy I am seeking my sixth three year term on the Board of Directors of the ESM-NS Federal Credit Union. I have filled various positions and duties on the Board in my 15 years of service, including Vice-President and President. During my years of service, I have been very supportive of expanded member services to provide a full array of financial services to our members. I also was a supporter of the Credit Union s merger with the North Syracuse Federal Credit Union. I am also currently supportive of the drive to increase the membership groups that are eligible to be member-owners of the Credit Union. I am in my 32 nd year as a teacher and coach at Christian Brothers Academy. I was the contact person between the Credit Union and CBA when CBA was added to the field of membership of the Credit Union back in the late 1980 s. I hope to be elected to another 3-year Board term so that I can continue to help the Credit Union meet the challenges that it currently faces and help it prepare to face the future challenges that will arise. Terry McCarthy I have served the past six years on the ESM-NS Federal Credit Union Board of Directors. I am an audit partner with Green & Seifter, CPAs and have more than 20 years public accounting experience and 10 years of private accounting experience with Agway, Inc. I am both a Certified Public Accountant and a Certified Fraud Examiner. I have expertise in fraud prevention and detection in various industries, including assisting small business, governmental, school district and bankruptcy trustee clients. I have also had the opportunity to speak nationally on such topics as fraud prevention, detection and identity theft. I would be honored to represent the members of the credit union for another three year term. Paul Schantz I am a self emloyed businessman and the owner of Personlized Home Maintenance in Kirkville, where I handle all variety of home improvements and repairs. Prior to going into business on my own, I was a sales manager for 23 years for the Georgia Pacific Corporation. I have also stayed active in the community, including serving a three year term on the parish council at St. Mary s Church in Minoa. I think that my past business experience, particularly as a small business owner, helps me to understand some of the challenges that businesses like the Credit Union face on a daily basis. My wife Lynn and I live in Kirkville and we have two children, Aaron and Nicki. Lynn and I have been members of the Credit Union for more than 20 years and I am in the Credit Union often making use of its many services. I enjoy the opportunity to speak with the staff and talk with other members while I am in doing business. I was pleased to be allowed to serve the Credit Union as a board member for the past 3 years, and I would be honored to continue to volunteer my time and services on behalf of the Credit Union for another term on the board. Holiday Observances January 2008 through March 2008 Credit Union offices will be closed for the following holidays: New Years Day Martin Luther King s Birthday Presidents Day Tuesday, January 1st Monday, January 21st Monday, February 18th EAST OFFICE NORTH OFFICE Lobby Lobby 9:00 am - 4:00 pm Mon, Tues 9:30 am - 4:30 pm Mon, Wed, 10:00 am - 4:00 pm Wed 10:00 am - 4:30 pm Tues 9:00 am - 6:00 pm Thurs, Fri 9:30 am - 6:00 pm Thurs 9:00 am - 6:00 pm Fri Drive Thru Drive Thru 8:00 am - 4:00 pm Mon - Wed 8:30 am - 4:30 pm Mon - Thurs 8:00 am - 6:00 pm Thurs, Fri 8:30 am - 6:00 pm Fri