Financial Forum Winter 2018

Transcription

1 With you every step of the way. Financial Forum Winter 2018 Federally Insured by NCUA. Equal Opportunity and Equal Housing Lender.

2 A Message From Our CEO Dear Financial Resources community, The advent of the New Year brings with it moments to reflect on the year gone by and the opportunity to recommit to our goals and aspirations for the future. Here at the Credit Union we do the same as we plan for tomorrow and beyond and look to learn and improve from the past. We have a singular focus and mission to be your trusted lifelong financial partner and we understand the responsibility this comes with and work perpetually to fulfill this simple but important mission. In 2017 we welcomed thousands of new members to the Credit Union providing them, and our more than 23,000 current members, the products and services necessary to meet and achieve their financial goals. We remain financially strong as a well-capitalized institution. We provided more than $125 million dollars in vehicle, mortgage and business loans this past year, helping make dreams come true for first time home buyers, for entrepreneurs realizing lifelong dreams and to simply support many members in their time of need. We began offering the First Home Club to first time homeowners as a means to help lessen the financial burden of homeownership. Our business lending department was again, for the fifth consecutive year, recognized as the top Credit Union SBA Lender in the State of New Jersey. We provided financial advice and counseling to our members at Lunch and Learn Academies and at Home Buying Seminars throughout the year. While many of our efforts are focused on delivering the products and services to support your financial needs, there is a lot going on behind the scenes as well. We continue to spend time and resources continuing to ensure the security of your information in our never ending fight against cybercrime and attacks implementing numerous technology updates and upgrades with substantial testing and reporting of systems to keep your information secure. We have pledged and are committed to being responsible to the members we serve in every way possible. Our responsibilities do not stop at the front doors, as we also recognize our responsibilities to the communities where we live and work. Financial Resources team members spent many hours volunteering and supporting local non-profit agencies in all of our local communities. From the United Way, to Safe & Sound, Visions & Pathways, CASA Shaw and too many others to name, we believe in giving back. We hope all of you share in this belief and will join us in working to make our little corner of the world a better place for those in immediate need. We continue to be one of the top performing credit unions in New Jersey and we work hard every day to improve and position ourselves to meet the banking and investment needs of all our members. Through it all our Credit Union remains steadfast in our commitment to you, our members. We are proud of these efforts and are committed to being there for each of you again in We recognize the choices you have for the services we provide and we are honored that you have chosen us to help you meet the financial and banking needs for your families. Too often today, in far too many settings, it has become easy to lose sight and focus for what is important, for what we do or for the realization of our dreams. I hope this coming year provides each of you the opportunity to realize your dreams and brings to you and your families, happiness, good health and good fortune. Embrace the opportunities this New Year presents, and may each of us have the strength and determination to do our part and make a difference. On behalf of the Board of Directors, the Management team and all of our employees, thank you for the privilege of serving you and we look forward to being with you every step of the way in 2018! Lena Matthews President & CEO

3 Annual Meeting and Elections Financial Resources FCU Annual Meeting and elections will be held on Wednesday, April 18, 2018 at the Financial Resources Administrative Office in Bridgewater, New Jersey. The business meeting with elections begins at 5:30 pm followed by a social reception at 6:15 pm. You must sign up to attend the Annual Meeting by visiting your local branch between February 2, 2018 and March 9, 2018 or by calling our Member Service Center at , press 4. The Board of Directors consists of seven volunteer members. The membership elects fellow members to fill open positions as terms expire or are vacated due to resignation(s). This election, two seats on the Board are open. On November 28, 2017 the Chairman of the Credit Union Board appointed a Nominating Committee to select candidates for the election. All elections shall be determined by plurality vote and shall be by mail ballot except where there is only one nominee for each position to be filled. Nominations shall not be made from the floor unless sufficient nominations have not been made by the Nominating Committee or by petition to provide for one nominee for each position to be filled or circumstances prevent the candidacy of the one nominee for a position to be filled. Ballots mailed to the tellers of election must be received by the tellers no later than midnight five days prior to the date of the Annual Meeting. Any member interested in filing nominations by petition may obtain a copy of the petition form and instructions from the Secretary of the Board by calling: Petition nominations must be signed by a minimum of 1 % of the membership (minimum 20 and maximum of 500 members) and must be filed with the Secretary by March 10, Compliance with the election rules and procedures is required for a valid petition. Candidates: Board of Directors Election The Nominating Committee named the following members to fill upcoming vacancies on the Board of Directors: Sam Pagano was appointed to the Board in 2009 after serving as a Member/Chairman of the Supervisory Committee since Sam has been a Credit Union member since 1976 Want FREE Gifts? when he first started his employment at Ethicon, Inc. He had remained at Ethicon holding various positions of increased responsibility in Operations and Procurement until his retirement in July He is a graduate of Temple University and former member of the Board of Directors (for 9 years) of The Center for Educational Advancement in Flemington, NJ, serving two years as Chairman. Sam resides in Richboro, PA with his wife. They have two daughters and one grandson. David Hildebrand was appointed to the Board in April Prior to his appointment in March 2014 as Associate Director, David was Chairperson of the Supervisory Committee since David is currently a Global Category Manager R&D Procurement for the J&J Consumer and Medical Device Companies in North and South America. He has been with Johnson & Johnson for 23 years spanning all 3 sectors and holds a six sigma Master Black Belt (MBB) certification, which is a mark of career excellence. David holds a BSc in Chemistry and minor in Biology from the State University of NY. He resides with his wife Nikki and three daughters in Doylestown. It's as easy as with Tell-A-Friend online referrals! Refer a friend today at REFER MORE FRIENDS GET MORE GIFTS Keep Your Membership & Accounts Active As long as you maintain at least $10 in your Membership Savings account, you can take advantage of all the banking benefits available with your Credit Union Membership. Your $10 represents the par value of each share for each member. Should your Membership Savings balance fall below the $10 minimum requirement, we give you up to six months to make up the difference. Also, remember to make at least one transaction by transferring, withdrawing or depositing funds into each of your accounts during the course of a year so your account isn t classified as dormant, and potentially subject to a dormant account fee. It s as easy as using an ATM, making a transfer online at MyFinancialResources.org, using your FRFCU Mobile App or by visiting a branch.

4 Financial Resources FCU Foundation Committed to helping the community Show You Care Volunteer Program We don t just raise money, we give our time. We want our employees to be helpful, active participants in their community. Our Show You Care Program encourages them to volunteer by letting them use work time to help at their favorite charity. Whether it s packing bags at a food bank, collecting toys for needy kids or just spending time with someone who needs a hand, we always look for ways to help. Charity Gala Every year, Financial Resources FCU Foundation hosts a wonderful event, bringing our members, suppliers and employees together to raise money for a number of great causes! While we always have a great time, there is a true purpose to what we do. Over the past 22 years, the Credit Union and Foundation have raised almost $500,000 in support of charities and medical institutions that provide services to children. This year, at this one event, the Foundation distributed $10,000 to Youth Consultation Services (YCS) and $10,000 to Visions and Pathways, two very special organizations. Scholarship Program Need Money for College? Enter our Annual Scholarship Contest! Up to three $1,000 Scholarships will be awarded Deadline: May 31, 2018 We re pleased to announce our annual scholarship contest. If you re currently enrolled as a high school senior and you, your parent(s) or guardian are a member in good standing with Financial Resources Federal Credit Union, you are eligible to apply. The scholarship is to be paid jointly to the winning student and the student s chosen accredited educational institution. The scholarship must be used for tuition or textbooks and only at an accredited educational institution (2- or 4-year college, university or technical school). The entries will be judged by Financial Resources Federal Credit Union and will be based on academic performance, community service/achievement, teacher reference and personal goals. Interested in applying? Visit for the student application. Only one entry per student is allowed and entries must be postmarked no later than May 31, Good luck to all applicants Scholarship Winner We are pleased to announce the recipient of the 2017 Financial Resources FCU Foundation Scholarship Award, Christopher Santos. Christopher attended the Academy for Health and Medical Sciences (High School) in Bridgewater, NJ and earned his Eagle Scout Rank among many other achievements. He plans on studying at Rutgers University to become a Security Architect. Congratulations, Christopher! We know you will put the funds to good use while attending Rutgers.

5 Member Business Spotlight Business Name: Business Type: Business Address: The Gravity Vault Hoboken Athletic/Lifestyle 1423 Clinton Street Hoboken, NJ Telephone: Website: The Gravity Vault Indoor Rock Gyms are facilities where anyone can experience the exciting sport of rock climbing. The Gravity Vault Indoor Rock Gyms mission is to make everyone s rock climbing experience a positive and memorable one! They strive to provide a welcoming environment for everyone young and old, big and small, novice and expert, to challenge themselves each day. The Gravity Vault wants each person who walks through their doors to believe that new heights can always be reached, in all aspects of life. Lucas Kovalcik, Co-Founder of Gravity Vault, said We partnered with Financial Resources to bring the business to fruition! Their goal is to provide a fun, welcoming environment where beginners and experienced climbers alike can learn, train and enjoy climbing together. They offer options for using their facility that cater to every age and all experience levels. From memberships and day passes, to private climbing sessions and group classes, they have an option that is suitable for you. Business Solutions for Today s Needs and Tomorrow s Goals SBA Loans Business Term Loans Commercial Real Estate Investment Properties Lines of Credit Equipment Financing #1 Credit Union Lender in NJ Wall features include: Arêtes, Arches, Key Holes, Chimneys, Cracks, Overhangs, and more. Their Hoboken facility Grand Opened on November 11, 2017 and includes: 25,000 square feet of climbing over two levels 40 + Top Rope & Lead Walls 10m Speed Wall 3 Dedicated Boulders Over Two Levels LED Moonboard, Cardio, & Strength Training Area Full Service Retail Shop Lounges & Work Space Areas with WiFi Showers Mobile Account Access Use your Web-Enabled Mobile Device to: View Account Balances Transfer Money Mobile Deposit Capture Business Mobile Deposit Capture coming in February! Call Financial Resources FCU today at or visit us online MyFinancialResources.org

6 VISA Platinum Card VISA Signature Card VISA Business Card Our Lowest Rate Earn Rewards for Your Purchases For All Your Business Needs No Annual Fee Privacy Policy No Fee for Balance Transfers Financial Resources Federal Credit Union is committed to protecting the privacy of our members financial records consistent with state and federal laws. You can feel confident knowing that your financial privacy is a priority of your credit union. To view our Privacy Policy, visit If you have any questions, please contact us at , press option 4. Start Making Memories Today Fixed & Adjustable Rate Mortgages First-Time Homebuyer Programs 100% Financing Options Available With you every step of the way More than our tag line it s how we do mortgages. Call Today MyFinancialResources.org Federally Insured by NCUA. Equal Opportunity and Equal Housing Lender. NMLS #