IN THEKNOW

SPRING 2018 A Quarterly Publication

The Relationship of a Lifetime607-723-7962 800-732-4447 Visit our website at www.ghsfcu.com

This is the story of Sam Price, a 43-year-old insurance broker in Birmingham, Ala., as told to Marianne Hayes.

The Three-Step Budgeting Process That Helped Me Stop Living Paycheck to Paycheck

https://grow.acorns.com/the-three-step-budgeting-process-that-helped-me-stop-living-paycheck-to-paycheck/

In my former life, I was a broke 20-something. I lived paycheck to paycheck, routinely charged everything from rent to gas and had a credit score in the 500s. As my 30s neared, I was $15,000 in debt and months behind on my utility bills.Everything changed when I met my now-wife Chrisynda. I couldn’t imagine saddling her with my debt, so I made some drastic moves, like moving in with my parents. Thanks to a simple budgeting process and the debt snowball technique, I wiped out my balances in about 13 months. Over the next year, I saved $8,000 to cover Chrisynda’s wedding ring and our honeymoon before walking down the aisle.

That was just the beginning of my turnaround story. Since blending our finances, we’ve stayed loyal to my budgeting process to keep us financially fit for the long haul. Here’s how it works.1. Look for money wasted.When I was whipping my own finances into shape, I tracked my spending and looked for obvious money wasters. I dis-covered, for example, that I was spending $65 a month on video games alone and decided to sell my gaming systems and opt for hikes over screen time.

After merging finances, Chrisynda and I pored over our bank statements to understand where our money was going. A recurring bank charge stood out immediately, so we switched to another bank with free accounts. We also cut our food spending in half after learning we were dropping $350 per month on restaurants and takeout. And we opted for a slimmed-down cable package, shaving $45 off our bill.

2. Pinpoint where you’re overpayingI’m a big believer in the power of negotiation. I’d been paying $50 per month for a gym membership when I noticed a new gym opening in my area. I offered to pay $200 for a one-year membership. They were hungry for new customers and took my offer, saving me $400 annually! I’d do the same years later with our electric bill, which could hit $400 in certain months, locking in a year-round rate of $200.

We looked to our employers for missed savings opportunities, too. We started using employer-sponsored health savings accounts to set aside pre-tax cash, shaving about $1,800 off our yearly medical spending. We also discovered that Chri-synda’s employer offered a 5-percent discount with a major insurance carrier for employees who bundled home and auto coverage. We signed up and reaped $1,200 in annual savings.

We are excited to welcome our newest team members! John Noonan; Member Service Representative, Lauren Ferraro; Marketing

Coordinator, and Dan Murphy; Member Service Coordinator. Congratulations on joining the GHS

Federal Credit Union team!

Howard MellerPresident and Chief Executive Officer

Spring… a time of rebirth and renewal. A time to sow the seeds that will provide a bountiful harvest in the months and years to come.

In this spring newsletter, you’ll learn about some of the fresh and innovative financial product “seeds” that we have sown to help GHS Federal Credit Union achieve our vision of becoming your leader in financial services for everyone.

With the GHS Credit Card, automobile and home loans at some of the best rates in our area in place, we decided to dig deeper into member needs. With the information that we found and a renewed focus, GHS approved new underwriting guidelines that will make loans more accessible for members working to improve their credit. We also now offer a new Payday Alternative (P.A.L.) Loan for members that need money in between paychecks, at a much lower cost than any other Payday Loan company.

Finally, no garden will thrive without excellent caretakers of the lands. That is why I am grateful to our dedicated and knowledgeable GHS Team of employees, our expert Board of Director & Supervisory Committee Volunteers who I am privileged to work with each and every day and you, our valued members. By all working together, we can all be proud of the immeasurable impact GHS products and services have for everyone in the communities that we serve.

Please be sure to share these new and exciting GHS offerings with your friends and family members and let them know that when others say “No”, GHS is here to say “Yes”.

THE PRESIDENT’S

MESSAGEIN THE SPOTLIGHT

WELCOME TO GHS!From Left to Right:

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Is it time for something new?! We are currently offering an Auto Loan Sweepstakes! April 1st through June 30th, If you come into the branch or apply online for an Auto loan,

you have a chance to be entered to win one of our battery operated driveable toy cars! Visit our Norwich or Front street branch to see the cars in person while you apply! The winners

will be drawn Friday July 6th. For further information please read our Sweepstakes

Rules at GHSFCU.com

SMALLEST OFBUDGETS

AN AUTO LOANFOR EVEN THE

On May 5, 2018 we participated in the Touch a Truck event at the Norwich fairgrounds. We partnered with Images Photo Station and brought a photo booth to the event. Employees volunteered their time for this community youth event. Here are some pictures of the fun we had while volunteering. You’ll see April Luettger (MSR) and Shauna Rapuzzi (Loan Officer), from the Norwich office, with Jenn Crawford (Sr. Business Dev. Manager), from the Front St. office. We continue to take non-perishable food donations for the Norwich City school district back pack program. Thank you

for all of your donations and for working together to help the youth and families of the community. We look forward to serving the community with you in the future.

At GHS, we know that sometimes life can throw us a financial curveball when we least expect it. As your premier financial institution, GHS Federal Credit Union is excited to announce the introduction of our latest loan product, the Payday Alternative Loan or P.A.L. loan. These short term loans will help you cover your regular bills, while managing those unexpected expenses and can help get you to your next paycheck, without worry. If you currently use other Pay Day Loan companies, GHS can help you break the cycle with a better option. The GHS P.A.L. loan is a tool that is here help you, our valued member. If you want to learn more about the GHS P.A.L. loan, please visit one of your local GHS branches to meet with our friendly and helpful Loan Officers or visit GHS online at www.GHSfcu.com today.

DEPARTMENT NEWS

PAYDAY ALTERNATIVE LOANS

MOBILE DEPOSIT CHANGES

COURT STREET ANNOUNCEMENT

NORWICH BRANCH HAPPENINGS

SANDY McCARTY COMPLIANCE MANAGER

JAMES WARNECK LENDING MANAGER

ELISHA DECKER BRANCH MANAGER

ATTENTION MOBILE CHECK CAPTURE USERS:

Effective, June 1, 2018 all mobile deposited checks into your GHS FCU account must have the following Restrictive Endorsement written/stamped on the back of each check you deposit:

“For Mobile Deposit Only to GHS FCU”

If the above required restrictive endorsement is missing from the back of a check that you deposit using our mobile application it will be reversed and the dollar amount will be debited from your account. This change is necessary due to Amendments to Regulation CC (Availability of Funds and Collection of Checks).

Our Court St Branch is about to get some spring cleaning! We are planning some exciting new renovations and upgrading our ATM as we transition our Downtown location into our Business Branch. We hope you will come in and see our new look and visit with Maire Lowery our Business Development Officer.

MICHELLE BARKER BRANCH MANAGER

2018 TOUCH A TRUCK

2018 GBCC BRIDGE RUNOn May 6, 2018, the GHS Team volunteered and ran in the 144th Annual Binghamton Bridge Run. Employees of GHS had the privilege to award half-marathon runners their comple-tion medals and cheer on both half-marathon and 5K runners alike. The experience was both rewarding and inspiring as we helped applaud runners from all different locales. GHS is proud to be a title sponsor of this race-what a great day!

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Memorial Day - Monday May, 28th Independence Day - Wednesday July, 4th

A friendly reminder that our branches will be closed for the following holidays:

Explore our Social Media channels with interactive content

posted specifically for you!

(800) 732-4447(607) 723-7962

HOLIDAY CLOSINGS

James Warneck - Lending ManagerJennifer Crawford - Sr. Manager, Business Development

SENIOR MANAGEMENT

Howard Meller - President/CEODonald Schmitt - VP/Finance

EXECUTIVE MANAGEMENT

F. Paul Battisti, Esq. – ChairmanLeonard Lindenmuth – Vice ChairPatricia Clark – TreasurerJeanette Tillotson – SecretaryLarry MaierDavid DrewAntonio FronteraMark KnebelJason Aurelio

BOARD OF DIRECTORS

Cindy Tokos, ChairDavid SebastianelliMark Knebel

SUPERVISORY COMMITTEE

SAVE THE DATE

On Saturday September 15th

SHRED DAYThe next shred day

will be located at the Front St. Branch -

Binghamton

GHS is pleased to announce the upcoming launch of Mobile Wallet for our members. We will offer Apple, Android and Samsung Pay using your GHS credit and debit cards.

MOBILE WALLET

APPLY FORMAKE MORE POSSIBLE

PLATINUM CARD TODAYA GHS

MORE SUNLESS SNOW