RPIEFCU Newsletter
July (Vol. 29 No. 3)

Where We Stand

Date Members Assets Loans
07/01/2006 1,376 $4,507,082 $2,211,409
07/01/2007 1,364 $4,116,649 $2,457,297
07/01/2008 1,384 $4,118,748 $2,376,264

Greetings From The Board:

Welcome to Rensselaer Polytechnic Institute Employees' Federal Credit Union! This is your credit union helping your colleagues with loans and encouraging savings in good and bad economic times. We need you to encourage your colleagues and qualified family members to join us in order to continue helping those who need it.

Sage Picnic:

We had a great time at the Sage Picnic held June 18, 2008 at the Sage Campus and signed up four new members! We very much appreciate all of our sponsors for raffle gifts! Many thanks to Kingsley Greene for organizing the event!

Winners of the raffle were:

Name
Raffle Item
Rebecca Maroncelli Yankee candle set
Joyce Donahue Denim shirt
Russ Coonradt Sage T-shirt
Paula Selmer Scented candle
Joanna Ciaccia Wireless headphones
Jamie Coulson Pedometer
Carol Brazinski Clock radio
Nancy Whalen Clock radio
Dwayne Allen Calculator/Clock
Val Jucha Calculator/Clock
Cathy Wheland CAPA theatre tickets
Marion Bevis Sodexho munch money
Kristy Pratt Furniture restoration
Dianne Roosa Sage parking permit
Lucy Beckwith Vendacard
Joanna Heinsohn Jeff Moore electric
Kendal Pompey $25 share deposit
Cathy Reed $25 share deposit
Kim Miller $25 share deposit
Robin Dickenson-Sawyer $10 Borders card
Rose Grignon $10 Borders card

Dividend Declared:

Your Board of Directors has declared a dividend for accounts with balances less than $10,000 of 1.75% APR, 1.7615% APY, for the quarter ending June 30, 2008. The Board of Directors has also declared a dividend of 2.00% APR, 2.0151% APY for any accounts with balances of $10,000 or more for quarter ending June 30, 2008.These rates continues our effort to pay dividends that are competitive, reflect current market trends, and demonstrate prudent stewardship, while returning the highest possible yield to encourage member savings. Dividends are calculated using the day-of-deposit, day-of-withdrawal method.

New Fees Starting July 1, 08:

-Returned Checks - Members will be charged a $30.00 fee for each returned check.

-Credit Reports - Fee of $10.00 is charged - whether or not the loan is approved.

-Late Payment Fees - apply to new loans granted as of 07/01/08. Anyone who is employed by one of our sponsoring agencies can join the RPIEFCU.

Loan payments that are not paid by 15 days after the due date will incur late fees as follows:

-15 days past due - $15.00 charge is incurred. An initial late payment notice is sent.

-60 days past due - $15.00 charge is incurred. A second late payment notice is sent.

-90 days past due - loan is placed into collection process.

Bus Trip:

Hold the date of November 15, 2008 for our next bus trip to NYC. More details to follow.

Great Rates:

Summer Special: Up to $1,500 for 12 months at 7%.

Manager's Special: Up to $3,000 for 12-18 months at just 7-8%! Lock in a great rate now.

Protect Against Internet Fraud:

Always be careful when you receive emails that appear to be from legitimate financial institutions asking you to provide account or other personal information. These email scams are known as "phishing". A legitimate company would not ask for this information.

A recent wave of emails has recently been circulated from "Credit Union National Association" that target credit union account members.

REMEMBER: Never give out account or personal information. Do not open email attachments or click on links contained in emails when the email source appears suspicious or the sender is unknown.

Contact Us:

We are always glad to hear from our members. If you have good suggestions for improved service or just some comments, contact Sandi Butcher.

 

Contact us

  • (518) 276-6593
  • (518) 276-6715 fax
  • 313 West Hall, RPI
    110 8th Street
    Troy NY 12180-3590
  • Email

Hours

  • 9:30am-2:30pm
    (Wed: 11:30-2:30pm)
  • Exceptions
  • September 1, 2008
    Labor Day
  • November 27-28, 2008
    Thanksgiving and the Day After

Events

Member Institutions

All Rights Reserved. RPI Employees' Federal Credit Union
Chartered and serving the Capital District since 1978.