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BY NORMAN POLTENSONJOURNAL STAFF

UTICA — Ray Kroc was a piano player, paper-cup salesman, and a multi-mixer salesman. In 1954, he received an unusually large order for eight multi-mixers from a restaurant in San Bernardino, Calif. run by the McDonald brothers. The business model was simple: offer a few items

on the menu, such as 15-cent burgers, fries, and milkshakes, and focus on the quality. A year later, Kroc founded the McDonald’s Corp., which today is the world’s leading, global food-service retailer with more than 35,000 locations in more than 100 countries serving 70 million customers daily.

BurgersHarold (Tom) Clark, Jr. bought

into the idea back in 1978, when he called Kroc to purchase some fran-chises. A Utica–area resident, Clark founded Mac-Clark Restaurants, Inc. in the same year. Nearly 36 years later, he owns 17 franchises scat-tered across four counties surround-ing Utica. “The restaurant business employs 963 people,” says the com-

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STEM STORY 4

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THE LIST: MOHAWK VALLEY BANKS / 10 • MOHAWK VALLEY CREDIT UNIONS / 11

Nonprofit Corner: Adirondack Railway Preservation Society. Page 9.

Tech Ed.: Stemming the STEM Problem. Page 4.

AmeriCU’s growth accelerates in a tough economy


ROME — “It took AmeriCU a little more than 55 years to accumulate more than $500 million in assets,” says Mark A. Pfisterer, the credit union’s president and CEO. “It took us a little more than five years to double that number in what can only be described as a lousy economy.”

AmeriCU began modestly in 1950 as the Griffiss Employees Credit Union, operating from a desk located in the headquarters building of the Griffiss Air Force Base serving civilian members. In 2000, the credit union changed from a federal to a state charter and rebranded itself AmeriCU Credit Union.

“What started with an investment of $63 and 17 members has blossomed into a major financial institution with more than 107,000 members and nearly $1.3 billion in assets,” says Pfisterer. “Among the 6,429 credit unions in the U.S., only 219 have more than $1 billion in assets, which puts us in an … [elite] group.

“Our annual revenue in 2013 topped $63 million, and today we have 285 em-ployees. In 2013, we posted total-loan growth of 10.3 percent and a growth in deposits of 8.85 percent, both well above the national, credit-union aver-age. [In 1950, the credit union’s real-estate was just the desk at Griffiss;] in 2014, AmeriCU owns or leases 121,000 square feet in 18 financial centers. Add in 180 ATMs and 43 display terminals in an operation spread over eight counties, and you can understand just how much we have grown.”

AmeriCU is organized into four corporations: AmeriCU, a

See AMERICU, page 7See CLARK, page 6


on the menu, such as 15-cent burgers, fries, and milkshakes, and focus on

into the idea back in 1978, when he called Kroc to purchase some fran-

From burgers to banking to buildings: Tom Clark, the intrepid entrepreneur

Tom Clark, Jr., a Utica entrepreneur, sits at his desk in the of-fices of Mac-Clark Restaurants, Inc.

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2 • The Mohawk Valley Business Journal October 17, 2014

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News of note for and about Mohawk Valley businesses

Lewis County and chamber launch new regional tourism site, mobile apps

LOWVILLE — Tourists and outdoor enthusiasts interested in visiting the Adirondacks-Tug Hill region have some new tools at their fingertips.

Lewis County and the Lewis County Chamber of Commerce teamed up to roll out new mobile apps and a redesigned

tourism web-site (adiron-dackstughill.com) that will allow visitors to quickly view activi-ties, shopping options, restaurants, and overnight accommoda-

tions.The new site — with the slogan “Our

backyard. Your adventure.” — includes information highlighting everything the region has to offer, according to a Lewis County news release.

At adirondackstughill.com, visitors can identify activities by season, find trail maps for a hike, learn about Lewis County’s history, and discover the prod-ucts for which the area is known.

The new mobile apps provide informa-tion on ATV and snowmobile trails as well as summer and winter-specific activities.

“These new tools make planning a day trip, weekend, or extended vacation so simple,” Anne Merrill, executive director of the Lewis County Chamber of Commerce, contended in the release. “And local resi-dents might just discover something new and fantastic right here in our very own backyard.”

Frank Pace, a Lewis County senior plan-ner, added, “The Adirondacks-Tug Hill region is an active four-seasons region with countless benefits for residents and tourists alike. The new apps and website will make finding these activities so much easier, whether it be ATVing and hiking in the fall, snowmobiling and skiing in the winter, or fishing and boating in the warmer months.”

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New York’s craft-beverage manufacturing industry takes off

BY JOURNAL STAFF

S ince 2011, the number of farm- based businesses that manufacture craft beer, wine, spirits, and ciders

using ingredients grown in New York has doubled, according to a recent news release from New York Gov. Andrew Cuomo. The total number of manufacturers producing alcoholic beverages in New York has in-creased by 105 percent since 2011. The below chart is a breakdown of the growth seen by type of craft-beverage manufactur-er, including farm wineries and distilleries and microbreweries.

BY THE NUMBERS 2nd

New York’s ranking among the 50 states in apple production.

700Number of awards that Empire State winer-ies won in 2013 — the most in any single year in state history

38Days it takes the New York State Liquor Authority to review new manufacturing licenses

Type of Craft-Beverage Manufacturer

# in 2011

# in 2014

Percent change since

2011Microbreweries 40 104 160%Restaurant breweries/Brew pubs 10 33 230%Farm wineries 195 291 49%Wineries 52 78 50%Farm winery branch offices 29 55 90%Hard-cider manufacturers 5 29 480%Farm distilleries 10 55 450%

PAR Technology acquires San Diego–based Brink Software

BY JOURNAL STAFF

NEW HARTFORD — PAR Technology Corp. (NYSE: PAR) announced last month it has acquired San Diego, Calif.–based Brink Software, Inc.

PAR describes Brink Software as “a fast emerging provider” of cloud-based, point-of-sale (POS) software for restaurants.

PAR didn’t release any terms of the acquisition in its Sept. 19 release.

The purchase will provide PAR the ability to develop, deploy, and service cloud-technology products for quick-serve, fast casual, and casual-dining restaurants, the company contends.

See PAR, page 6

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October 17, 2014 The Mohawk Valley Business Journal • 3


COOPERSTOWN — Overall beer consump-tion in America is flat. Craft beers, however, are generating double-digit growth as the consumer searches for variety and new styles.

The Brewers Association, the national organization for small and independent craft brewers, defines a craft brewer as one which produces no more than 6 million barrels a year and whose ownership by a non-craft, alcoholic-beverage company must be less than 25 percent. The demand for craft beers creates a new brewery every day somewhere in the nation. The U.S. had fewer than 200 breweries 25 years ago. As of June, the country now has 3,000 breweries, a threshold not crossed since the 1870s.

While Americans imbibe, on average, 77.1 liters of beer per annum (217 12-ounce bottles), our inveterate propensity for the brew ranks us at number 14 globally; The Czech Republic takes bragging rights at 148.6 liters per capita. Still, America is the second biggest beer market worldwide with nearly a 13 percent market share.

Brewery Ommegang, which opened near Cooperstown in 1997, was an early entrant into the domestic, craft-beer market. (The name Ommegang means “to walk about” and honors a festival held annually in Belgium commemorating the entrance of Emperor Charles V to the city of Brussels.) The founders carved out a unique niche brewing Belgian-style beers, known for their alcoholic content and richness of flavor.

“Since I joined the firm [in 2008], the brewery has increased its production and sales volume by 20 percent a year [com-pounded],” says Bill Wetmore, general man-ager of Brewery Ommegang. “This year, we will sell approximately 650,000 cases (24 12-ounce bottles per case) which equates to a little more than 5.5 million gallons. In 2015, we’re scheduled to craft 24 different beers, some of which are seasonal. Brewery Ommegang relies on one production line to produce four to six different beers per week, but the equipment is flexible so that we can change the line on the fly. To keep up with demand, we have added capacity and run the line 24 hours a day, 5 days a week.”

The brewery sits on a 136-acre former hops farm located in the town of Middlefield, less than five miles south of the village of Cooperstown. It was the first farmstead brewery built in America in 100 years. Brewery Ommegang employs 80 people year-round and adds another 20 in the summer to staff the café and gift shop, which opened in 2010. Management has turned the site into a venue for visitors, who come to tour the operation, eat from a menu paired with Ommegang selections, and enjoy concerts held on the grounds. Allison Capozza, publicity manager for the brewery, estimates that the company hosts 65,000 people annually, 20,000 of whom come for the concerts.

The Business Journal News Network estimates that Brewery Ommegang will post revenue in 2014 of $22 million to $24 million. The company currently distrib-utes its products in 43 states, Canada, the Virgin Islands, and Puerto Rico. Wetmore

expects to add West Virginia to the distribu-tion list by the first of the year.

How it startedThe Ommegang concept originated with

Don Feinberg and Wendy Littlefield. In 1982, Feinberg established an import com-pany — Vanberg & DeWulf — that special-ized in Belgian beers. His wife, Littlefield, joined him in the business in 1990. The couple worked exclusively with breweries that were independent, family-owned, and artisanal. The couple formed the brewery in 1996 in partnership with Belgian breweries whose beers Vanberg & DeWulf had import-ed. One of the partners was Duvel Moortgat (Doo-vel Moort-got), which bought out all of the other stockholders by 2004. Feinberg and Littlefield sold the importing company in February.

The brewery’s rustic location has one drawback: the difficulty of maneuvering tractor-trailers on County Route 33. The impediment to convenient shipping, how-ever, is outweighed by the setting which attracts thousands of visitors. In addition to several concerts each year, the staff creates annual events such as “Belgium Comes to Cooperstown,” a beer festival with more than 100 breweries pouring samples for 3,000 beer fans.” Then, too, there is the at-tribute of water. “Water to a brewer is [like] blood,” intones Wetmore. “It is the … [life-force] of the beer. We’re very fortunate to have four wells on the farm that supply us with a steady volume of clean, pure water.”

Crafting the beer is part science and part art. Ommegang has an innovation team, including the marketing department, the innovation manager, the brewmaster, pack-aging, quality control, and graphics, which is continuously responding to customer demand and creating new recipes. “We start with a concept from the marketing de-

partment to determine consumer demand,” avers the general manager. “We are always talking to retailers and to our visitors at the plant to understand what our audience

wants. The process also includes trying new recipes created by our innovation manager, brewmaster, and staff brewers. It’s vital that we stay ahead of the marketplace.”

Ommegang has historically created its products for a small audience of beer con-noisseurs, whom Wetmore describes as “… the top of the pyramid. These are the better-beer drinkers who enjoy exploring new beers. They expect to pay a premium price above the average for a craft beer. Our target audience is 25 to 50 years old with a ratio of perhaps 60 percent male and 40 percent female. Over the past few years, we have focused on adding a variety of beers and styles that are broader in appeal. The new beers are priced a bit lower than some of our complex offerings, and the styles are more familiar to the general public — amber ales, white beers, and pale ales. The goal is to reach the more ‘generalist’ craft drinkers and introduce them to Brewery Ommegang.”

To promote the brewery’s products and events, the marketing department utilizes a number of traditional methods. But it has also leveraged its social media to spread the word. “We’re very active in utilizing social media,” observes Capozza. “Ommegang has 53,000 followers on Facebook, 40,000 on Twitter, and 11,000 on Instagram. This year alone, our Facebook followers are up 28 per-cent, Twitter is up 34 percent, and Instagram is up 95 percent. In addition, we blog twice a week about everything from upcoming events, to new beers, and what the chef is

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Phil Leinhart, brewmaster at Brewery Ommegang, inspects the color of one of the 24 craft beers the company will produce this year.

Brewery Ommegang sees continued sales spike on tap

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UTICA — Technology has always changed our lives. Millennia ago, it was the discovery of fire, the wheel, and iron. Today, it’s every-thing digital: computers, smart phones, the Internet, and GPS.

A few years ago, these ideas seemed like science fiction; now we have the bionic retinal implant that receives updates, the first lab-grown burger (made from stem cells), the first flying car (already tested in public), and drones that Amazon hopes will be a prime delivery service.

The only difference between technology advances in the time of the caveman and now is their sophistication, the speed of in-troduction, and America’s anxi-ety about our ability to compete globally. Uncle Sam first panicked about the nation’s lack of techno-logical prowess in the 1950s when Admiral Hyman Rickover called for more math and science educa-tion to keep us competitive with the Soviets. In 1958, Congress passed legislation to support math and science education. More than 50 years later, Congress is still passing laws and budgeting bil-lions of dollars to promote the study of science, technology, en-gineering, and math (STEM).

To attract more teachers to the field of science and math, STEM promoters offer scholarships, loan-forgiveness, higher pay, and opportunities to undertake actual scientific work at national labora-tories. But, what about the prob-lem of attracting students? Many are unaware of the opportuni-ties available, others can’t make the choice because the quality of their education is poor, and peer and societal pressures hold back girls’ and minority participation.

Over the next decade, STEM jobs will grow by 17 percent, far faster than the 10 percent growth projected for all employment, ac-cording to the STEM Education Coalition, a national affiliation of 580 member organizations in gov-ernment, education, and industry. The average annual wage for all STEM occupations was nearly $78,000 (according to 2009 data), compared to the average of $43,460 for non-STEM occupations.

The top-10 bachelor-degree programs with the highest me-dian earnings are all in STEM fields, and 47 percent of STEM workers with bachelor’s degrees earn more than Ph.D.s in non-STEM occupations. But here’s the kicker: unemployed people in the U.S. outnumber job postings by 3.6 to 1; in STEM occupations, job postings outnumber unemployed people by 1.9 to 1. According to the Council on Foreign Relations, 60 percent of U.S. technology employers are having difficulties finding qualified workers to fill vacancies at their companies.

In short, there is a dearth of STEM workers and too few in the pipeline, one of the few things Republicans and Democrats agree on. Compounding the scarcity of qualified students matriculating in STEM fields is a leakage prob-lem: fewer than 40 percent of stu-dents who enter college intending to major in a STEM field actually complete a STEM degree.

One solution sought by indus-try is an increase in the H-1B visa program that allows companies to hire foreigners in positions where they can’t find qualified American citizens. The program is a politi-cal hot-potato with critics claim-ing it’s just a cover for business to hire cheap labor. Recognizing that the economic future depends on remaining a leader in science

and technology, some companies, such as the Indium Corp., are taking a proactive approach to encourage students as young as middle-school age to engage in experiential learning.

Talking STEM“Our goal is to excite students

about science and technology, educate their parents and the community to the opportunities in STEM, and frankly recruit future employees,” says Dawn Roller, Indium’s director of HQ services and human resources. “Everybody at this company talks STEM, regardless of their role. This is our fourth year work-ing with the Oneida–Herkimer–Madison B.O.C.E.S. (11 school districts) in the SABA (School and Business Alliance) program. We offer area students 12 to 18 years of age tours and shadow-ing opportunities, address groups of teachers to educate them on the careers available locally in the STEM field and the skills needed, and we support National Manufacturing Day by inviting some of the participating schools to visit our facility to see how an advanced manufacturer operates.

“Indium hosts about 200 stu-dents annually and about 30 teach-ers,” continues Roller. “We also offer paid internships to college

students; there are eight working here this summer. Since the pro-gram began, somewhere between 50 and 75 of our employees have volunteered to work one-on-one with the students. Initially, manage-ment saw this as a way of giving back to the community, but now recognizes it’s a critical program to ensure a qualified workforce to keep up with our growth.”

Indium supplies materials to the global electronics-assembly, semiconductor-fabrication and packaging, solar-photovoltaic, thin-film, and thermal-manage-ment industries. The company, with headquarters in Clinton, has 11 manufacturing sites occupy-ing 385,000 square feet in the U.S., Europe, and Asia and holds more than 50 patents. Of the 700 people employed worldwide, 500 work in the U.S., of whom 450 work in the Mohawk Valley. Over the last half-dozen years, employ-ment at the company has grown 32 percent. Fifty employees hold advanced degrees in STEM. The Business Journal News Network estimates annual revenue at more than $200 million. The business was founded in 1934 and has been owned by the William Macartney family since 1960.

STEM is also vital to a key area college.

“STEM is critical to our mis-

sion,” says Robert E. Geer, the senior vice president and COO of the newly merged entity of the College of Nanoscale Science and Engineering (CNSE) located in Albany and SUNYIT located in Utica. The combined organiza-tion is now called SUNY Poly. “Currently, nano research and de-velopment is conducted at CNSE, and SUNYIT serves as the aca-demic campus,” he said before the renaming. “[However], … the student population on both campuses (Utica has 2,700 stu-dents enrolled and Albany 350) is growing and research in Utica is expanding with the creation of ‘Nano Utica,’ a $1.5 billion com-mitment by six global technology leaders and the Quad C project, the research-and-development arm of the effort to bring nano-technology to the Utica campus. Our job is to ensure that there is a workforce with STEM degrees and, in addition to workers with advanced degrees, trained tech-nical people with STEM associ-ate degrees. Construction of the Quad C research facility should be completed by December of this year, including the expansion to accommodate Nano Utica.

“Partnerships with companies such as Indium are critical to our

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Classmates gather to watch as Adam Kessler uses electrical current to ignite NanoFoil® during a tour of Indium Corporation’s facility.

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pany president. “I enjoy it as much today as when I started the business, because I deal with young people who keep me young. For many [of my employees], this is their first job … Everybody goes through computer-based training, and 98 percent of my management come from the ranks. The idea that McDonald’s employees just flip hamburgers and get substandard wages is false. My average hourly pay-rate is $10 an hour, managers earn up to $50,000 plus benefits, and supervisors earn more than that.” Clark spends 90 percent of his time as a franchise operator. He says his annual revenue tops $40 million. Banking

In 1990, the Utica native was unhap-py with his investment returns. Rather than change investment advisors, Clark bought the Saranac Lake Federal Savings & Loan Association, an enterprise that had $29 million in assets. “I wanted to control my investments,” states the inveterate en-trepreneur with a smile, “and recapitalized the bank as a stock corporation.” The new bank operated as a federal savings bank until 1995 when it was re-chartered as a na-tional bank with a new name — Adirondack Bank, N.A. To position the bank for the future, he converted it to a state charter in 2003.

“When Gary Kavney joined the bank as president and CEO,” continues Clark, “assets had grown to $100 million. When Gary retired in 2013, we posted more than $500 million. By the end of the year, the number will reach $700 million. It’s been a good time for the bank to attract deposits with all of the confusion among consumers because of the flurry of bank-merger activ-ity … From just a few branches in Saranac Lake and Lake Placid, the bank now has 19 offices and more than 200 employees.” Adirondack Financial Services Corp. with its four divisions — investment-advisory services, qualified-retirement plans, em-ployee benefits, and financial planning — is an affiliate of the bank, and Adirondack Insurance Services, Inc. is a wholly owned subsidiary.

Adirondack Bank generated about $25 million in total income according to its 2013 year-end, consolidated financial statement. The bank holds 1.68 percent of the 16-county Central New York region’s deposits, according to CNYBJ Research and FDIC data as of June 30, 2013, the lat-est available.

Clark says he does not get involved in the day-to-day running of the bank.

BuildingsWhat started with burgers and banks

now includes buildings. Clark set up Adron Building LLC, a real-estate company that in-cludes the Adirondack Bank building as well as the adjoining property, which formerly housed Harza Engineering Company. The two properties contain 250,000 square feet of space on Genesee Street in downtown Utica. Adron Building LLC also holds apartments and other miscellaneous real estate.

While Clark at age 71 is still looking for more McDonald’s franchise opportunities, he has already begun addressing the ques-tion of corporate succession. His oldest son, H. T. Clark III, created an LLC and now owns and operates three of the 17 franchises. The middle son, Robert, is the executive vice president of retail banking as well as the director of marketing at Adirondack Bank and works closely with the bank’s current president and CEO, Rocco F, Arcuri, Sr. The youngest son, Christopher, is just two years out of college and working in New York City at a hedge fund.

Clark’s road to success has had its chal-lenges. “Competition is brutal [in the fran-chise business],” declares the president of Mac-Clark from his office on the 15th floor of the Adirondack Bank building. “The original concept of a limited menu has changed with consumers’ tastes as they want more … [healthful] choices. It’s not just Big Macs anymore; now we offer yo-gurt, apple slices, and salads. To compete with Tim Hortons and Dunkin’ Donuts, McDonald’s offers breakfast with not only hotcakes and Egg McMuffins but also sau-sage burritos and fruit-and-maple oatmeal. At lunch and dinner, we face competition from Wendy’s, Burger King, and Subway, to mention a few, who frankly are giving

everything away. The margins in this busi-ness are really tight.”

Over the years, Clark has shared his financial success with the community. He is a $5 million donor to his alma mater, Utica College, and has been generous to area chil-dren’s causes, such as the House of the Good Shepherd, Utica Rescue Mission, Upstate Cerebral Palsy, and Camp Ronald McDonald, a day-camp facility on a 100-acre tract.

“I saw the needs of the community in 1965 when I was only 22,” stresses Clark. “I was an executive on loan from my first employer, Marine Midland Bank, working with a nonprofit organization to help the less fortunate. I learned then how impor-tant it was to give back to the community.”

Clark is very optimistic about the future of the Mohawk Valley. “Business in the area is growing,” he opines. “We’re just begin-ning to see the impact of nanotechnology on the region, which I think will be huge. I’m also encouraged by how well our po-litical leaders work together, regardless of party affiliation. There really is light at the end of the tunnel.”

Clark graduated from Utica College in 1965. Right out of school, he went to work for Marine Midland Bank. Over his nine-year tenure, the young executive pro-gressed from training to commercial loans, credit cards, and finally industrial finance. Bankers Trust hired him in 1974 to be the area’s regional president and expand the op-eration into the Syracuse market. “By 1978, I decided to buy a business in the area,” affirms Clark. “While at the bank, I had financed a McDonald’s operator at the time that the first franchise opened in the area. I knew the financials of running the busi-ness, and I knew the franchise was for sale. The rest is history.” When not engrossed in the business, the septuagenarian heads for the family retreat at Big Moose Lake, which his grandfather bought in 1936. There is little time anymore for avocations with McDonald’s open 24/7 and seven grand-children to attend to. Clark is married to New York State Supreme Court Justice Bernadette T. Clark. q

Contact Poltenson at [email protected]

Based in New Hartford, PAR provides hardware and software to the hospitality industry. PAR’s government business of-fers computer-based system design, engi-neering, and technical services to the U.S. Department of Defense and various federal agencies.

PAR believes the addition of Brink to its software portfolio complements its PixelPoint software and enables it to “ex-pand” its market reach as it focuses on and invests in products for the restaurant

market, the company said.Brink offers cloud-based POS software

with features that include mobile-online ordering, a kitchen-video system, guest surveys, enterprise reporting, and a mobile dashboard, according to PAR.

PAR’s hardware, services, infrastructure, and resources will now support Brink’s of-ferings.

Brink has worked as strategic partner with PAR since 2011 and the combina-tion of the two companies is a “natural extension of this partnership and their integrated product offerings,” according

to PAR.Ronald Casciano, president and CEO

of PAR Technology, calls the acquisition a “great match” in the news release.

The firm has been focused on expand-ing its reach into new hospitality markets with new product offerings that allow PAR to leverage its existing infrastructure and “enhance” its recurring revenue streams, he added.

“Brink has a great reputation as an inno-vator and this acquisition will allow PAR to diversify and strengthen our position in the hospitality markets,” said Casciano. q

Continued from page 2

PAR: Brink has worked as strategic partner with PAR since 2011

CLARK: What started with burgers and banks now includes buildings


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state-chartered credit union for banking ser-vices: AmeriCU Services, LLC, which sells insurance; AmeriCU Capital Management, LLC, which sells investment products; and Hamilton Associates, Inc. which files elec-tronic tax returns.

Corporate cultureAmeriCU Credit Union’s CEO notes a

number of reasons for the rapid growth. “First, we changed the corporate culture,” says Pfisterer. “The staff was making de-cisions based on what was best for the organization. What we needed was a more, member-centric focus. About eight years ago, we reviewed 150-plus different process-es that touched our members, and that exer-cise gave us a better level of understanding of member service. The decision was also made to engage members in every phase of their financial life cycle; in other words, use a 360-degree perspective.

“It took several years and a lot of effort and training before we changed employee atti-tudes and our own perspectives. That’s why we no longer call our 18 locations ‘branches;’ they are ‘financial centers’ where certified personnel help our members whether they visit us for banking, investment, or insur-ance needs. The members recognize that we’re not here to sell them stuff; it’s not in our DNA. We’re here to help them navigate their financial life events,” he says.

TechnologySecond, Pfisterer cites the use of technolo-

gy. “When I arrived at the credit union in 1979 to become the controller, we were far from automated. I had to convince my boss to aban-don the index cards used to record collection calls and substitute a software program. Now technology is changing at exponential rates, and it’s a real challenge to keep up. We still offer TeleLink (telephone) service where the user punches keys to complete a transaction. But most people have gone online, and the move to conduct transactions from a mobile device is … [exploding].

“We started installing kiosks back in 2007 to take us beyond just offering access to an ATM. We helped to create cutting-edge technology with the manufacturer that gives our members access to all of their accounts through any AmeriCU kiosk, which we affectionately dubbed Big Blue. We’re antici-pating the second-generation kiosk, which should be out soon, and features video-chat-on-demand.

“To give you an idea of just how rap-

idly technology is changing our operation, in 2007, 70 percent of our transactions required employee intervention. In 2013, the number flipped: 70 percent of our transactions don’t require employee intervention. In 2014, we will record 500,000 electronic transactions at Big Blue alone,” he says.

Bank strategyThird, Pfisterer recognizes that the rush

by large banks to grow by acquiring other banks and rethinking their footprint has roiled the landscape for banking customers. “Every time a bank buys another bank, the [acquired bank’s] customers become un-certain about the new relationship, offering us an opportunity to attract new members,” avers Pfisterer. “As community banks are swallowed by larger banks, credit unions are filling the gap. Then again, it seems that banks are regularly rethinking their strategies and shedding branches. This also creates uncertainty and sets up a window to attract them to AmeriCU. In 2013, our mem-bership increased by 3,700, and this year the number of new members will exceed that of 2013. With all the changes, it’s hard for the big banks to build long-term relationships.”

Military programsA 64-year history of military affiliation has

helped AmeriCU understand the needs of its military members and to fashion programs to address their problems. “In 2013, we implemented ‘Docusign,’” Pfisterer states, “which allows our members to sign docu-ments electronically anywhere in the world. This service has been a boon to our military, especially those stationed overseas. We also have implemented educational programs with a financial focus, such as ‘Military Saves Week,’ and we send our advisers to visit with those who are just arriving on post and those about to retire from the military to help them plan the transition.”

“AmeriCU supports the financial-fitness fairs held at Ft. Drum with a focus on budgeting, dealing with credit reports, and staying financially strong. We also have edu-cational programs to explain payday and predatory-lending practices. For soldiers in need of immediate cash, AmeriCU has joined with the Pentagon Federal Credit Union Foundation to provide ARK loans, which allow active-duty military members an immediate, short-term loan of up to 80 percent of their next paycheck, up to $500. Fees are minimal and the … [recipient] has to agree to work with a consumer-credit counselor … Since the [government] se-quester, our credit union set up a federal-

employee hotline and an email help-desk to respond to questions from concerned federal employees,” Pfisterer says.

EmployeesOf all the reasons for AmeriCU’s growth,

the CEO credits the employees most. “The employees are the ambassadors of first impressions,” chuckles Pfisterer, who bor-rowed the expression from a staff mem-ber. “Everything depends on the members’ contact with the credit union. That’s why we work very hard to attract employees who are 100 percent dedicated to member service, thrive in a continuous learning envi-ronment, and who enjoy their work. [To this end] … we have created paid internships for college students to work with us on ‘real’ jobs. Our first preference is for college students who are fresh from their school-ing and don’t bring any corporate baggage from a previous work experience. We have partnered with a number of area colleges and universities to hire the best of the best. Creating a great workplace environment has gone a long way to attracting and retaining an outstanding staff. I would point to our av-erage employee tenure, which is 11.2 years when the average in the financial-services industry is just 4.7 years,” he says.

Pfisterer could also point to AmeriCU being named one of the 2014 “Best Companies to Work for in New York State” and winning first place in the Credit Union National Association “2014 Community Credit Union of the Year Award” ($250 million-plus category). AmeriCU’s se-lection was based on the credit union’s dem-

onstrated success in the following areas: member impact, community impact, com-munity-involvement practices, and financial impact. The award will be presented at a conference in November.

ChallengesGrowth has not come without its challeng-

es. “This is a very competitive business,” as-serts Pfisterer. “We not only compete against other credit unions such as Empower, First Source, Summit, Visions, Northern, and GPO, but we also compete against the banks, including Berkshire, Carthage [Federal], Community [Bank], Oneida [Savings Bank], Watertown [Savings], and the larger money-center banks. What’s new is the growth of the non-traditional banking entities, which are entering the mainstream. We’re now competing against Walmart, for example, which teamed up two years ago with American Express to introduce the Bluebird pre-paid debit-card. (The Bluebird card offers access to ATMs, direct deposit, online and mobile bill-pay, and mobile check deposit — all with minimal or no monthly fees, no overdraft fees, and no balance re-quirements.) Then there’s PayPal, VISA, Green Dot, MasterCard, Amazon, Google, and Apple, all providing digital wallets, and now Apple Pay. (iPhone 6 and iPhone 6Plus users near a payment point in a store merely hold their finger on the iPhone’s Touch ID and a vibration and a beep tells them the transaction is complete.)”

The second big challenge is the regula-

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doing in the café … The craft-beer industry is growing so fast that we don’t think in terms of other craft brewers as competitors as much as they are collaborators. America is enjoying a flavor revolution, and today’s consumer wants choice. Craft drinkers are not sold on their father’s brand; they want to try something new.”

Wetmore agrees that Ommegang needs to be active in promoting and presenting its beers to the consumer. “First and fore-most, we invest in people,” says the gen-eral manager. “We have more sales people on the street than most anyone else in the industry, because we believe in building strong partnerships in key markets with our wholesalers and the local retail com-munity. We also invest in value-adding

innovation in our beers and the corporate strategy emphasizes reinvesting in our pro-duction site both to drive efficiencies and to deliver a world-class visitor experience here in Cooperstown.”

“The Duvel Moortgat brewery (Brouwerij Duvel Moorgat) was estab-lished in 1871 and is currently owned by three brothers of the fourth generation of Moortgats and an aunt from the third generation,” notes Wetmore. “Duvel owns five breweries in Belgium and the Czech Republic plus Ommegang and Boulevard Brewing Co. in the U.S. The parent set up Duvel USA as the importing unit of Duvel Moortgat, and it also acts as a marketing company to sell beer from all seven brew-eries [to this region.] Duvel USA, in effect, is Ommegang’s customer. Duvel USA and the breweries work very closely together:

We have staff from both companies on site here.” In addition to being the general manager of Ommegang, Wetmore is the director of marketing for Duvel USA.

The acquisition by Duvel of Boulevard Brewing Co. located in Kansas City, Mo. was announced in October 2013 and closed on Jan. 1, 2014. Boulevard expects to pro-duce close to 200,000 barrels this year and is listed as the 12th largest craft brewery in the country. Boulevard distributes in 25 states, with 90 percent of its business in the Midwest. The parent is planning to spend $7 million to increase the fermen-tation and cellaring capacity in Kansas City. The acquisition brings the parent company’s consolidated annual revenue to approximately $300 million. The com-pany posted operating profit in 2011 of $40 million on sales of $202 million. Duvel Moortgat went private in 2012.

The management team at Brewery Ommegang includes Wetmore, Phil

Leinhart as brewmaster, Rick DeBar as technical manager, Kim White as supply-chain manager, Larry Bennett as creative-services director, Chance Nichols as CFO, and Tara Aitchison as events/retail man-ager. The company was recognized in 2013 as the Business of the Year by the Otsego Chamber of Commerce.

Wetmore started his career in New York City with food-and-beverage, public-relations agency Gilman & MacKenzie, where he worked on Haagen-Dazs, Betty Crocker, Kraft, and Aveda brands as well as PepsiCo corporate communications. He next served as the customer-marketing director for Scottish & Newcastle, whose flagship Newcastle Brown Ale enjoyed 20 years of double-digit growth. Wetmore, a Syracuse University graduate, joined Ommegang in 2008. q


OMMEGANG: Brewery is located in MiddlefieldContinued from page 3

success in cultivating students to STEM,” notes Geer. “This gives us the opportunity to showcase a local technology company with global, advanced-technology customers.

Kids as young as … [middle-schoolers] can see the impact of technology and glimpse a career path. We follow the success of our efforts by tracking those who participated in our programs, are engaged in the differ-ent participating school districts, and then

apply to [SUNY Poly]. There is also a huge reservoir of girls and minorities who seem to lose interest in high school. Young people want to change the world, and our program is designed to show all the students, but especially girls and minorities, the social

impact they can have by pursuing a STEM career. These programs are critical to the SUNY goal of doubling STEM degrees over the next five to six years.” q


STEM: The top-10 bachelor-degree programs with the highest median earnings are all in STEM fields


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Profiling local

nonprofit organizations

NonprofitFINANCIAL DATA

Fiscal year ending December 31, 2012, from IRS Form 990Adirondack Railway Preservation Society (ARPS)

421 Board St., Suite 7Utica, NY 13501

Phone: (800) 819-2291

adirondackrr.comKEY STAFF

Executive Director Bethan Mahar

Executive Director’s pay from 2012 IRS Form 990 $37,151

BOARD OF DIRECTORS OFFICERSPRESIDENT

Bill Branson retired executive, RBS Wealth Management, A.G. Edwards & Sons

VICE PRESIDENT

Al Heywood retired teacher, Heywood’s Greenhouses, Remsen Development Corp.

TREASURER

Michele Devendorf retired executive, Sears-Roebuck

SECRETARY

David Link Bluebar Oil, CSX, MA&N, Oswego Midland

EXECUTIVE COMMITTEE MEMBER

Wayne Tucker retired executive, Kimberly Computers

BOARD OF DIRECTORSBill Branson retired executive, RBS Wealth Management,

A.G. Edwards & Sons

Michele Devendorf retired executive, Sears-Roebuck

Allen Dunham North Country REDC, Adirondack North Country Association (ANCA)

Jim Ellis retired high school principal, ANCA

Gene Falvo Falvo Manufacturing, Oneida County Tourism, Mohawk Valley REDC

Al Gorney private consulting

Al Heywood retired teacher, Heywood’s Greenhouses, Remsen Development Corp.

Ed Kennedy retired executive, IBM

Frank Kobliski executive director CENTRO

David Link Bluebar Oil, CSX, MA&N, Oswego Midland

Dan Mecklenburg Trails and Rails Action Committee

Paul Miles engineer, CSX

Garry Savage retired, NYS&W RR

Sandra Strader retired Tupper Lake mayor, the Wild Center

David Tomberlin Well Dressed Foods, ANCA

Wayne Tucker retired executive, Kimberly Computers

Paul Yonge retired NYS employee

MISSIONPreservation of the Adirondack railway. The organization’s purpose is promoting, participating in, and contributing to the rehabilitation, main-tenance, and operation of the Adirondack Travel Corridor.

PROGRAMS & SERVICESTrain-ride excursions, track rehabilitation and restoration, educational programs with school groups, group charters for assisted-living facilities and passengers with special needs, programs for disabled vets, track restoration and rehabilitation, vegetation management and a variety of special events ranging from holiday excursions (Easter Bunny Express, Family Halloween Trains, The Polar Express) to history trains, shopping trains, and wine and beer tasting trains.

RECENT ORGANIZATIONAL HIGHLIGHTS2014 recipient of the Adirondack Architectural Heritage Awards for its rail-corridor restoration from Remsen to Lake Placid, and the Thendara Station.

Revenue SourcesContributions & Grants $1,250,207Program Services $1,012,885Investment Income 0Other $29,609

Total Revenue $2,292,701

ExpendituresSalaries & Employee Benefits $397,532Other $1,976,739

Total Expenses $2,374,271Deficit for the Year -$81,570

BY NICOLE COLLINSJOURNAL STAFF

UTICA — This year, for my birth-day, I rode the Adirondack Scenic Railroad. It was the first time I’ve had the opportunity to ride a train since I was kid, even though I’m surrounded by trains every day. The Business Journal News Network’s office is lo-cated in the former OnTrack sta-tion in Armory Square in downtown Syracuse, and the same rail line runs behind my house in Jamesville.

On a fall morning in September, my friend, Jill, and I ventured out to Utica’s Union Station for the Fall Foliage Train excursion that goes from Utica to Thendara with a four-hour layover in Old Forge. A round-trip ticket for this excursion costs $37.50 per adult, but Jill and I scored a Groupon deal for $36 for two round-trip tickets.

When we arrived at the station at 9 a.m., volunteers were already herding the 400 passengers onto the train. As I’m settling into a window seat in car 3211, a volunteer named Mike walks through the car to collect tickets from the passengers. A lady across the aisle from us asks him when we’ll be off.

“All I can tell you is when it starts to roll, that’s when we’re going,” says Mike.

Shortly after that, we were rolling. Once we were moving, the volunteer car hosts encouraged the passengers to explore the train. This adventure was short-lived for me, because as soon as I stood up, motion sickness kicked in.

The ride was not a total loss though. While sipping a Ginger Ale that Jill graciously bought for me, I watched the scenery go by. With the “Mileposts and Points of Interest” guide that came with our tickets, I was able to spot the Erie Canal, Otter Lake, and more. Not to mention the

endless number of deer I saw hang-ing out in people’s yards like they were waiting for their daily treats.

Two hours later, we arrived at the Thendara station, which is about a mile south of Old Forge. As we de-parted the train to catch the shuttle to Old Forge, the car hosts instructed us to return by 4 p.m. so that we could make the departure time of 4:45.

Ride the lineThe Adirondack Scenic Railroad is

part of the historic rail corridor that was constructed in 1892 and the first to go through the Adirondack region. While operated by the Adirondack Railway Preservation Society (ARPS), a 501(c)(3) nonprofit organization, New York State owns the 118-mile, Remsen-Lake Placid rail corridor, and the Departments of Environmental Conservation and Transportation jointly administer it.

ARPS performs maintenance work on the corridor and leases the track from April to December for train-ride excursions. From January to April, the NYS Snowmobile Association leases the corridor.

The rail corridor started to de-cline in the 1950s and 60s, but was briefly restored for the 1980 Winter Olympics in Lake Placid. After that, it laid dormant for more than a de-cade until a band of rail enthusiasts came together in 1992 and proposed

operating a short rail line. Now 22 years later, 68 miles of the 118-mile track have been restored, and the Adirondack Scenic Railroad carries more than 70,000 passengers annu-ally.

“We’re the largest tourist attraction in the county [of Oneida] after the ca-sino,” says Bethan Mahar, executive director of ARPS.

Only about 5 percent to 8 percent of visitors come from within Oneida County. Last year, passengers trav-eled from 49 states and six coun-tries to ride the Adirondack Scenic Railroad. Ridership has increased 35 percent in the past five years, says Mahar.

The railroad partners with local businesses and brings visitors to these otherwise remote areas along the corridor. The train is “very signifi-cant to the local businesses who see an influx of people spending money,” says Mahar.

ARPS starts running occasion-al trains in April, and then in July begins operating five days a week, Wednesday through Sunday. From August to December, the trips gener-ally run at full capacity, carrying a max of 420 passengers, largely due to the themed excursions during those months, such as the Fall Foliage, Family Halloween Train, and the ev-

CornerAll Aboard the Adirondack Scenic Railroad

ARPS factsn Founded: 1992n Employees: 9 full time, 15 part time with additional part-time help hired during Polar Express seasonn Volunteers: 300; and 15,000 to 20,000 volunteer hours annuallyn Service Area: Oneida, Herkimer, Essex, St. Lawrence, and Franklin counties

NICOLE COLLINS/BUSINESS JOURNAL NEWS NETWORK

An Adirondack Scenic Railroad car awaits passengers for a scenic trip around the Adirondacks.

See ARPS, page 10


MOHAWK VALLEY BANKSRanked by Mohawk Valley Market Share, 06/30/14

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THE LISTResearch by Nicole Collins

[email protected](315) 579-3911

Twitter: @cnybjresearch

NOTES1. Data from this list comes from the June 30, 2014, FDIC Deposit Market Share report and the institution’s individual website.

ABOUT THE LISTInformation was provided by representatives of listed organizations and their websites. Other groups may have been eligible but did not respond to our requests for information. Organizations had to complete the survey by the deadline to be included on the list. While The Business Journal strives to print accurate information, it is not possible to independently verify all data submitted. We reserve the right to edit entries or delete categories for space considerations.

WHAT CONSTITUTES THE MOHAWK VALLEY?The Mohawk Valley includes Herkimer and Oneida counties.

NEED A COPY OF A LIST?

Electronic versions of all our lists, with ad-ditional fi elds of information and survey con-tacts, are available for purchase at our website, cnybj.com/ListResearch.aspx

WANT TO BE ON THE LIST?

If your company would like to be considered for next year’s list, or another list, please email [email protected]

er-popular Polar Express.ARPS owns five locomotives and leases

three locomotives. It also owns 23 pas-senger cars, two of which will be repaired during the upcoming slow season, the first quarter of next year. Each repaired car will add 120 seats.

All the trips are staffed by volunteers who assume the roles of car hosts, “train-men,” conductors, engineers, and café and gift shop workers. Volunteers donate 15,000 to 20,000 hours of service each year, says Mahar, who steps into the role of “trainman” occasionally.

Mahar came on board three-and-a-half years ago as the Utica station manager. A year in, she became the executive direc-tor of ARPS. “It’s been a fun ride,” says Mahar.

Hailing from Sherrill, Mahar received a bachelor’s degree in anthropology from SUNY Geneseo, with a concentration in archeology and historic preservation. She also took a few master’s level courses from a Mexican university in Yucatan while working on a sustainable-tourism project.

ARPS operates from the second floor of the Bagg’s Square Café at 421 Broad St. in Utica, about two blocks from the train station. It has nine full-time employees, including mechanics and the Utica sta-tion manager. Since the Thendara, Lake

Placid, and Saranac Lake stations don’t operate during the winter months, those managers are included in the 15 part-time employee count. Mahar says the railroad hires more part-time help during Polar Express season.

ARPS generates $1.3 million of its $2 million budget from ticket sales. The rest of the revenue comes from donations, memberships, and repair work the non-profit does for others.

By the end of this year, Mahar says the nonprofit’s bank debt and payables will be paid, making it almost debt free. “We will still have one small loan from a board member, but in a nutshell, yes [we’ll be debt-free],” says Mahar.

Rails vs. TrailsThe Adirondack Scenic Railroad oper-

ates between Utica and Big Moose, and from Saranac Lake to Lake Placid. The plan is to restore the rest of the rail so the railroad can offer trips from Utica to Lake Placid. But what to do with the remaining out-of-service rail between Big Moose and Saranac Lake sparks debate.

Some people believe that restoring the line will boost tourism; other groups be-lieve the entire 118 miles of rail should be torn up and replaced with trails.

The rail corridor, which is on the National and State Historic Registers, was built before much of the Adirondacks had

been declared “Forever Wild,” meaning it can’t be developed anymore. Mahar says that the train is the only thing that goes through some of those inaccessible areas now. The railroad also has a $5.5 million economic impact on the area and con-nects communities in and out of the travel corridor.

ARPS supports a rail-and-trail system, with trails running alongside the rail cor-ridor. In the areas where that isn’t feasible, she says the plan would be to create other paths that would join with the corridor. “Our volunteers have already mapped out existing trails from Tupper Lake to Saranac Lake,” says Mahar.

In July, the state DEC and DOT an-nounced that they would allow restoration of the rail corridor from Big Moose to Tupper Lake. Mahar says ARPS will be facilitating and overseeing the restora-tion work, although no formal dates or a financial commitment have been made, as of press time.

More public hearings will be scheduled to determine the best use of the line from Tupper Lake to Lake Placid.

In the meantime, Mahar says ARPS will continue to “fight the battle to preserve the corridor and keep it functioning.”

All aboardAt 4:30 p.m., we’re loaded onto the train

in Thendara for the return trip. Lois, a

car host, walks down the aisle of the car, hushes the group, and then asks, “Is ev-eryone on this train going to Utica, New York?” Pause. “If you’re not, then you are now. Unless you let us know right now.” Silence. Looks like we we’re all going to Utica. q

Contact Collins at [email protected]

ARPS: “We’re the largest tourist attraction in the county after the casino”Continued from page 9

MAP COURTESY OF ARPS


THE LISTResearch by Nicole Collins

[email protected] (315) 579-3911

Twitter: @cnybjresearch

NOTES1. Data from the NCUA 5300 report and the credit union’s website. Financial data as of June 30, 2014. Year-to-year comparison from June 30, 2013.

ABOUT THE LISTInformation was provided by representatives of listed organizations and their websites. Other groups may have been eligible but did not respond to our requests for information. Organizations had to complete the survey by the deadline to be included on the list. While The Business Journal strives to print accurate information, it is not possible to independently verify all data submitted. We reserve the right to edit entries or delete categories for space considerations.

WHAT cONSTITUTES THE MOHAWk VALLEy?The Mohawk Valley includes Herkimer and Oneida counties.

NEEd A cOpy Of A LIST?

Electronic versions of all of our lists, with additional fields of information and survey con-tacts, are available for purchase at our website, cnybj.com/ListResearch.aspx

WANT TO BE ON THE LIST?

If your company would like to be considered for next year’s list, or another list, please email [email protected]

tory environment. “Government rules are typically based on the one-size-fits-all con-cept. That means, regardless of asset size, we usually must abide by the same rules. Dodd-Frank created the CFPB (Consumer Finance Protection Bureau) which has been busy pumping out regulations. The cost to AmeriCU just this year is already $200,000 to decipher the regulations, create policies and procedures, complete software program-ming, and teach staff how to comply. The CFPB is now considering new regulations for mortgage lending, debit cards, mobile services, and indirect auto lending. This

agency has no oversight and reports directly to the White House. I’m certain of one thing: There are more regulations coming.”

SuccessionPfisterer, at age 63, is not harboring any

thoughts of retiring at this time. He acknowl-edges that the volunteer board of directors has had a process in place since early this year to choose a successor. The search would include both internal and external candidates. The or-ganization’s succession process, implemented in 2009, extends to division and department heads. AmeriCU encourages individuals in the credit union with leadership potential to pursue educational training to fill any gaps in

their qualifications.

The future“There are currently 4,029 federally

chartered credit unions and another 2,400 state-chartered credit unions,” observes AmeriCU’s CEO. “On average, one credit union closes or merges every business day because of the competitive and regulato-ry pressures and the cost of technology. AmeriCU is positioned not only to survive, but also to thrive in this environment. Over the years, our growth has come because of our focus on the members’ needs and on maintaining a fiscally sound … [institution]. Last year, we added three branches. Next

year, we plan to continue our branch expan-sion. The future is bright for AmeriCU.”

Pfisterer bioPfisterer grew up in Utica and gradu-

ated in 1973 from Siena College, where he received a bachelor’s degree in econom-ics/math. He earned an M.B.A. from the Whitman School at Syracuse University in 1977. He served on active duty in the U.S. Army from 1974-75 and continued in the Army Reserves, retiring as a colonel after 30 years of service. He assumed the role of AmeriCU’s president and CEO in 1986. q


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AMERICU: Pfisterer, at age 63, is not harboring any thoughts of retiring at this time


LEGACYValley

AWARDSPresented By:

COMING IN 2015

The Business Journal News Network and Berkshire Bank announce a new event coming to the Mohawk Valley. In the spring of 2015, we will recognize local

entrepreneurs who have built thriving corporations and also generously supported their communities, both fi nancially and in terms of their time.

The purpose of the awards is to emphasize the heritage each generation passes on to the next, and in recognizing the current recipients, remind future generations

of their obligation to continue building strong communities.

Visit bizeventz.com for updates

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