Winter 2017

The Relationship of a Lifetime

607-723-7962 800-732-4447 Visit our website at www.ghsfcu.com

in theKnow

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A brand new year provides the perfect opportunity to make meaningful life changes, including improved financial wellness. These five financial resolutions can help get your year off to a promising start.Get on budget - Take charge of your finances by creating a budget. Start by calculating after-tax income and subtracting fixed monthly expenses. Then allocate portions of the remaining income for savings, important goals and a few things that just make you happy. If this sounds complicated, relax; today’s user-friendly budget apps can take a lot of the pain out of the process. To further simplify money matters, consider setting up automatic bill pay, an automatic savings plan and separate savings accounts for specific goals.Build an emergency fund - Without a solid cushion, any unexpected job loss, medical challenge or serious property damage could lead to lasting financial hardship. An emergency fund with three to six months’ worth of expenses can protect your standard of living and offer peace of mind. Commit to making consistent deposits to this fund even if you can only spare a small amount each month. Because you may need to tap into emergency cash at a moment’s notice, choose a vehicle that gives you easy access, such as a

savings or money-market account.Prepare for retirement - Retirement may not be on the immediate horizon, but when the time comes it may well last 20 years or more. You’ll probably need somewhere from 70 to 90% of your final-year income for each year of retirement, and it’s unlikely that Social Security will be sufficient. Saving such a sizable sum takes decades, so it pays to start early. Put as much as you can afford into tax-advantaged Roth or traditional IRAs, and if your job provides a 401(k) plan, contribute the maximum employer-matched amount.Improve your credit - You likely know that credit scores affect financing approval and interest rates. But the influence of those three little numbers actually stretches much further. Prospective employers and landlords frequently check credit, so low scores may mean missing out on the best jobs and apartments. Credit scores also may affect insurance premiums, mobile phone offers, vacation costs, and even whether utility hookups require a cash deposit. For top scores:• Pay all bills on time.• Keep credit card balances at no more than 20%

to 30% of the credit limit.

5 Financial Resolutions for the New Year

© Copyright 2017 NerdWallet, Inc. All Rights Reserved

Howard MellerPresident and Chief Executive Officer

With the holidays behind us, I hope that 2017 has started with success for each of you. With the anticipation of another New York winter coming to a close and the excitement that spring brings, resolutions for better physical wellness and achieving greater life balance are being made. Often we forget that part of what brings us balance is ensuring that we also work toward financial wellness too. Your GHS Federal Credit Union is here for you, to be your Financial Wellness Trainer, every step of the way. By using your valuable GHS services you will have time to:• Go the gym when you sign up for Online

Banking and Bill Pay. This will automate your bill payments so that they are made on-time, minimizing paperwork, avoiding late payments all while helping you to increase your credit score.

• Walk your dog when you sign up for Mobile Banking and eDeposit. This will electronically deposit checks and allow you to transfer funds from your mobile device.

• Do your morning meditation and yoga, all while helping the environment, when you sign up for eStatements. This will minimize paper waste and time spent filing paper statements.

To flex your financial muscles even more, we even have a secret weapon we call Greg! Greg Cornelius is our Financial Services Advisor and he can help reach your long term financial goals so that you can hike that mountain, swim in that sea and take in all of the wonderment of this awesome planet. Call Greg today at 607.472.2848.We are thrilled to be your Credit Union, we are proud that you give us the opportunity to serve you and we are determined to exceed your expectations each day. Thank you for choosing GHS for The Relationship of A Lifetime.

We’d like to welcome Kaitlyn Coles to our Norwich Branch. In addition to her great smile and friendly demeanor Kaitlyn brings years of credit union experience to GHS.Elisha Decker has joined GHS as Branch Manager in our Norwich branch. Elisha has 17 years of progressive credit union experience with 6 years of branch management know-how. We invite everyone to stop in to our Norwich Branch to welcome the newest additions to our GHS Family!

Welcome to GHS

In the SpotlightMilestone AnniversaryThe one and only, Darlene Holic, celebrated her 15th anniversary with GHS the beginning of this year! She has been a valuable member of the GHS Family and we congratulate her on all her hard-work and dedication to GHS Federal Credit Union and our members. Internal MoveOur Norwich Branch is seeing a familiar face on the front line, as Renata was recently promoted to Sr. Member Service Representative. She joined GHS over 5 years ago as an MSR and then transitioned into Compliance as a Loan Assistant to expand her credit union knowledge. With her promotion Renata will support our Norwich MSR Team and members. Congratulations Renata!

The employees of GHS graciously raised over $2500 in 2016 to the communities we serve. Our Casual for A Cause program enables employees to wear jeans on Fridays with a donation to monthly not for profit or community cause. 2016 benefactors were; Boys and Girls Club of Binghamton, Volunteers of America Homeless Shelters, Alzheimer’s Association, Suicide Prevention, CHOW, RISE and Lend-A-Hand. Thank you Team GHS! Our program has continued into 2017 with January and February collecting for homeless shelters.

GHS Gives Back

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ATM UpgradesYou may have noticed recently when using your GHS EMV chip card at one of our ATM’s the process has changed slightly due to EMV migration. Previous to this upgrade you inserted your card and withdrew it and then completed your transaction. With the new process you will insert

President’sMessage

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• Carry a mix of debt types such as credit cards, auto loans and personal loans.

• Monitor credit to catch and correct any errors or problems.

Knock down debt - Even with a great job, high-interest debt can sabotage financial health. To dig out from under this burden, consider concentrating efforts on your highest interest debt first while continuing to make timely smaller payments on all other obligations. When the first balance is satisfied, focus on the most expensive remaining debt and continue this way until you’re debt-free.If debt from multiple sources is unmanageable, debt consolidation may help you regain control. This approach streamlines debts into one payment, often with reduced interest and a lower monthly cost. Depending on your individual situation, home equity financing, personal loans or zero interest balance transfer credit cards may be effective debt consolidation choices.Smart money resolutions boost financial stability not just immediately but over the long haul as well. The bonus takeaway is the confidence that all life’s remarkable milestones and challenges won’t break the bank.

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One of the greatest fears of today’s workers is not having enough money for retirement. Yet few workers have ever bothered to create a plan for those years. Creating the right mix of personal investments to complement company-sponsored retirement and pension plans can be overwhelming for many.As a GHS FCU member, please know you have a retirement planning resource available through GHS Investment Services located right here at the credit union. The program offers a full array of retirement planning services.The GHS Investment Services Representative, can meet with you to help them determine the best options for reaching your particular retirement and savings goals.I hope you will be able to take advantage of this service. It could be a valuable addition to what you are currently doing. Please contact Gregory Cornelius directly for more information. He can be reached at 607-349-9880, and can immediately begin to work with you.

Ready to Retire?

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.FR-1689706.1-0117-0219

your chip card, withdraw it and be prompted to insert your chip card a second time keeping it inserted. The card will need to be in contact with the reader throughout the entire transaction. You will continue to use your same PIN number and please don’t forget to take your card when your transaction is complete.

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Holiday ClosingsPresident’s Day - Monday, Feb. 20thMemorial Day - Monday, May 29thIndependence Day - Tuesday, July 4thLabor Day - Monday, Sept. 4th Columbus Day - Monday, Oct. 9thVeterans Day - Saturday, Nov. 11th Thanksgiving Day - Thursday, Nov. 23rdChristmas Day - Monday, Dec. 25th

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

Upcoming Events

Binghamton Pond Festival / MHASTFRIDAY, FEB. 10-12 - Chenango Valley State Park

Cupid’s Chase 5K / Community OptionsSATURDAY, FEB. 11 - Downtown Binghamton

The Wedding Show by Easy Event PlanningSUNDAY, FEB. 26 - Holiday Inn, Binghamton

A Tasteful Day for HCAFRIDAY, MAR. 24 - Double Tree, Binghamton

Home & Garden ShowSAT. & SUNDAY, MAR. 25-26 - BU Event Center

Mac n Chesse Fest / Binghamton PhilharmonicTHURSDAY, MARCH 30 - Holiday Inn, Binghamton

The Color Run / MHASTSUNDAY, APRIL 2 - Suny Broome Campus

Hearts 4 Hope / A Room to HealFRIDAY, FEB. 10 - Holiday Inn Binghamton

Howard Meller - President/CEODonald Schmitt - VP/FinanceTraci Cerasaro - Director/HR

Senior Management

Paul Battisti Esq. - ChairPatricia J. Clark - TreasurerAnnMarie Lenkiewiecz - SecretaryLarry Maier, Mark Knebel, Leonard Lindenmuth, Jeanette O. Tillotson, David Drew, and Antonio Frontera

Board of Directors

Cindy Tokos, ChairDavid SebastianelliMark Knebel

Supervisory committee

2017 Annual Meeting

Each year, we invite our members and staff to join us as we reflect on the previous year’s success and events. We also review the financial state of the Credit Union, hear from our CEO, Board Chair, Supervisory Committee and Treasurer. The Annual Meeting also gives you the opportunity to exercise your rights as a member-owner of the credit union by asking questions, voting, and getting to know our staff, Executive Team and Board Members.

Coming this Spring!

Meeting details will be posted on our website, community board and on your statements.

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