RPIEFCU Newsletter
April (Vol. 29 No. 2)

Where We Stand

Date Members Assets Loans
04/01/2006 1,374 $4,473,566 $2,154,644
04/01/2007 1,412 $4,076,797 $2,477,567
04/01/2008 1,386 $3,999,275 $2,419,122

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 March 31, 2008. The Board of Directors has also declared a dividend of 2.25% APR, 2.269% APY for any accounts with balances of $10,000 or more for quarter ending March 31, 2008.This rate 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.

Who Can Join?:

Anyone who is employed by one of our sponsoring agencies can join the RPIEFCU. Once they have joined, any of their family members (e.g., spouse, child) can also join!

Bus Trip:

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

Winter Special:

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

Competitive Loan Rates:

Your credit union offers competitive rates and the loan process is fast and easy!

Sesonal Special: Up to $1,500 for 12 at 7-%.

Manager's Special: Up to $3,000 for 12-18 months at just 7-8%! Lock in a great rate now. Interest rates will likely increase in the future. This special is great for:

  • Debt Consolidation: We can reduce your interest rate and lower your monthly payment by consolidating your debt..
  • Vacation: Spring is here and so will be summer. Make vacation plans now!
  • Birthday/Wedding/Anniversary: A few extra bucks may be just the thing to make that special event a perfect event.
  • College Costs: Are always on the rise. In addition to tuition, room and board, textbooks and college fees can add up. We can help.
  • Home Improvement: A fresh coat of paint and new appliances will help you improve the market value of your home.
  • Auto Loans: We are still maintaining a low interest rate despite the recent rises in the prime rates. Check us out!

Rates are still low for Share Secured, Motor Vehicle, and Unsecured Loans. The "Loan Guide" shows the new rates. Did you know that life insurance is provided on you for the duration of the loan at no additional cost. Not only that, there are no coupon books, envelopes or postage costs. All credit applications incur a $6.00 pass-through charge for processing a credit report.

Savings:

The Board of Directors has approved the issuing of certificate of deposits with new interest rates! Please check with the office staff for the current interest rate, terms and conditions.

The Credit Union is a great way of stashing away money for those upcoming bills. With payroll deduction, it's easy to save. Use your savings for unexpected repairs, insurance and taxes, just to name a few. Now is the perfect time to start saving for that trip to Hawaii you keep talking about or that cruise you never seem to put enough money aside for.

Annual Meeting and Elections:

On Wednesday March 12th, the RPIEFCU held its 30th Annual Meeting & Elections with a box lunch in the Commons dining Hall on the Rensselaer campus. We had 291 members sign up.

We want to thank all who volunteered to run for the Board of Directors and/or serve on committees. Candidates for the Board of Directors were Anne Bilynsky, Earl DeVito, Kingsley Greene, Dale Masten and Phyllis Gates. The winners of the election were Anne Bilynsky, Dale Masten and Phyllis Gates. Candidates for the Credit Committee were Eleanor Burns, Terry Burns, Mary Alice O'Brien and Lori Winslow. The winners of the election were Eleanor Burns, Mary Alice O'Brien, Lori Winslow, and alternate Terry Burns.

Thank you, Michele Matthews, Kathy Stebbins and Jacqueline Farmer for counting votes, and Marge Stockton for helping at the front table at our annual meeting. The Board enjoyed meeting new and old members at the RPI Benefits Fair held in November. We raffled six "Clarence the Cow" stuffed animals and the winners were:

Please feel free to contact any of our Board Members with suggestions or concerns.

Thanks To Our Sponsors:

Please be sure to stop by our sponsor's businesses. Their gracious donations for our annual meetings have helped promote a good attendance.

Applebee's
Brunswick Greens Golf Course
Club House Pub
JCB Specialties
June's Unisex
Kingsley Greene Furniture Restoration
Kirker's Steak & Seafood
NYS Theatre Institute
Paolo Lombardi's Restorante
Rensselaer Union Bookstore
Sodexho Rensselaer Dining Services
The Egg
Tosca Grille
Worthington Florist

We also want to thank Eleanor Burns for her donation. Last but not least, we want to thank RPI Administration, Athletics and Parking offices for their contributions!

Election Of Officers:

The following elections were made at the monthly board meeting:

Sandi Redemann-Butcher, President, redems@rpi.edu

Eleanor Burns, 1st Vice President, burnse@rpi.edu

Jacqueline Farmer, 2nd Vice President, farmej@rpi.edu

Eileen Biggins, Secretary, biggie@rpi.edu

Winners:

Winners of the Raffles were Cindy Kyea, Eric Nazzaro, Frank Montanaro, Bill Mielke, Stan VanFonda, Janet Pertierra, Peter Brand, Marcia Hartnett, Donna Tomlinson, Bobby Harris, Bill Weber, Kathy Stebbins, Ronnie Rowe, Lee Vilardi, Chris Coonrad, Barbara Dzembo, Elaine Belokopitsky, Audrey Zurlo, Bruce Galbraith, Pat Boulson, Betty Boudreau, Mary Nadeau, Michele Kronau, Kim Boyce, Rosemary Porter, Karyl Contois, Chris Yetto, Evelyn Smith, Sue Palaski, and Jim Schatz.

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
  • May 26, 2008
    Memorial Day
  • July 4, 2008
    Independence's Day

Events

Member Institutions

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Chartered and serving the Capital District since 1978.