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Archive for August, 2013

Our Community Giveback

Wednesday, August 28th, 2013

nole106f_4x5At First Source we pride ourselves on putting our Members first by providing solutions to improve their financial lives. But what sets us apart is our commitment to ensuring the overall well-being of our Members and truly making a difference in their lives. And this extends well beyond financial services.

Each year First Source re-invests enormously in our communities. Some of the biggest causes that are near and dear to us include The Ride for Missing Children, American Heart Association, Children’s Miracle Network Hospitals and Education.

ride_teamThe National Center for Missing and Exploited Children’s mission is to find missing children, eliminate child sexual exploitation and prevent child victimization. With the abduction of a local child more than 20 years ago, our local center was founded and a commemorative ride was organized. Now known as The Ride for Missing Children, this event is their largest fundraiser, drawing close to 500 riders each May. As the Luminary Sponsor, First Source is not only financially committed to this event, but we have numerous riders and volunteers raising funds and educating local children to keep them safe.

hug_hrThe Mohawk Valley is home to one of the nation’s largest Heart, Run & Walk events to benefit the American Heart Association. We field more than 60 walkers and runners every year to raise money for the cause. We’re also the Presenting Sponsor of the annual Go Red for Women Luncheon, supporting a movement designed to empower women to take charge of their heart health.

CMN_logoMohawk Valley Network, including Faxton St. Luke’s Healthcare, is one of the area’s largest employers and primary medical networks. They provide essential, quality healthcare to our residents, and as a Children’s Miracle Network Hospital, many of the vital women’s and children’s services on which our community relies. Each year millions of dollars are raised through the Foundation to ensure that residents don’t have to travel beyond our two-county region to receive crucial life-saving and life-changing medical attention. We’re proud to be a long-time supporter of both organizations.  Our employees will be bowling, answering phones, selling paper balloons, speaking at events and more.

Founded as Utica Teacher’s Federal Credit Union, we understand the value of education to the success of any community. Serving more than 25 school districts and 6 local colleges, we contribute to education in many ways, including funding a new state-of-the-art trading room and nursing lab, giving thousands of dollars in scholarships to local students, providing financial literacy materials and on-site seminars, participating in career fairs, supporting music and sports boosters, sponsoring events to raise money for classroom materials, and most recently, partnering with CORE™ on an anti-bullying campaign.

We also give back to communities through many other causes throughout the year. They include the arts, economic development, animal rights, debilitating or life-threatening diseases, public services, shelters and more. There are so many worthy causes and opportunities to make a difference, but it’s more than simply goodwill. We consider it our social responsibility to our Members and our community.

I have been told by several esteemed community partners and representatives that First Source not only donates to a cause, we embrace it. We truly care for the people we serve, and we hope it shows in everything we do. It’s heartwarming and humbling to hear stories of individuals and businesses that come to First Source because they see how actively we are involved in our communities. For us, giving back is part of who we are; it’s an extension of our identity. This year we celebrate our 75th Anniversary, which is symbolic of our lasting commitment and dedication to the Members and communities we serve. I’m confident that the relationships we’ve formed over the years by simply being a good corporate citizen will serve as examples of what great things we can do together.

Laurie DeBella – First Source 75th Anniversary Diamond Ring Winner

Monday, August 26th, 2013

We’re happy to announce that First Source Member Laurie DeBella is the winner of our 75th Anniversary Diamond Giveaway! Laurie stopped by Lennon’s W.B. Wilcox Jewelers to pick up her prize and meet with President/CEO Mike Parsons and AVP of Marketing Kristy Nole. Congratulations, Laurie!

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75 Years of Serving You – A Note from Our President/CEO

Thursday, August 15th, 2013

Mike ParsonsFirst Source celebrated our 75th anniversary a few weeks ago and I am so honored by the turnout we had from members, political dignitaries, and the community at large. In looking over our history, we’ve come a long way…

First Source Federal Credit Union began with humble beginnings as Utica Teachers Federal Credit Union in 1938 when a small group of dedicated Utica teachers banded together during the Great Depression to provide a safe haven for savings dollars and a reliable source of loans.

Over the years, the credit union grew and expanded to include membership eligibility for all local schools, colleges and universities. It wasn’t long before other employer groups outside of the teaching realm realized their banking needs were not being met and they could also benefit from Credit Union Membership. This eventually led to First Source gaining our Community Charter where anyone who lives, works, worships, goes to school or conducts business regularly in Oneida or Herkimer Counties can be a member of First Source.

While we have certainly seen change over the years, the one constant has been our relentless focus on you – our valued members and community. As we look to the future our pledge to you is to continue providing the level of service you have come to know and expect while growing at a steady pace, maintaining our independence and staying true to our roots.

Thank you your continued support!

-Mike Parsons
President/CEO, First Source Federal Credit Union

Tom Neumann honored with National Center For Missing & Exploited Children-New York Branch Community Service Award.

Wednesday, August 14th, 2013

Ed_Jim_Tony_Lou_TomLast night Tom Neumann, Executive VP/COO First Source Federal Credit Union was honored with the National Center For Missing & Exploited Children-New York Branch Community Service Award. He was presented the award by Ed Suk Executive Director of NCMEC-NY, along side members of the NCMEC-NY-MV Leadership Team.

This award is given to someone who truly goes above and beyond with community support for this cause. Tom and his team at First Source have embraced The Ride For Missing Children and the NCMEC mission of community education and abduction prevention. Tom was awarded 2 plaques, one for the First Source Team as well. Congratulations, Tom! We’re all proud of the work you do!

Be Financially Fit for Back-to-School Needs

Tuesday, August 13th, 2013
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by Chrisandra Grimes – First Source Staff

It happens every year; I go to the store to do my normal weekly grocery shopping, and I’m paralyzed with disbelief when I see bins of school supplies lined up in the aisles. Back-to-school stuff is out already! It’s really that time? Then it sets in. It’s August and my son is starting high school in four weeks, and my daughter, a first-year college student, in less than two. Regardless of if I’m ready or not, my finances need to be.

High School is much different now than it was in my day. I recall going to school with a five-subject spiral notebook and two pens. Now you’re given a list of supplies from the school. And you can’t show up with fewer than several notebooks, binders, folders, composition pads, utility pouches, “sock” book covers… Sock covers?! What happened to paper grocery bags? Add in the latest “kicks” and “threads”, and back-to-school shopping for a teen can put a pretty large dent in your pocket. So what can you do?

  • See what you have from last year that you can use again this year
  •  Make a list before you even step foot in the store
  •  Look for deals; supplies often go on sale
  • If the store offers, sign up for their rewards program
  •  Have your kid kick in for their kicks. It teaches them a lesson about the value of fashion, and they’ll keep them cleaner longer.
  • College expenses are even more alarming. The best advice I can give is this:
  • Never underestimate the value of scholarships. Every dollar helps! My daughter worked hard and was a straight-A student. Fortunately, she applied for and was awarded two scholarships.
  • Community colleges can be a more affordable, sensible option. My daughter wasn’t exactly sure what she wanted to major in. Tuition is cheaper and we don’t have to worry about extra living expenses while she figures it out.
  • Check financial aid options. You’ll be surprised by what you may qualify for. It could mean piles of paperwork but believe me, it’s worth it in the end. Consult your child’s guidance counselor or college financial aid office to find out your options.
  • Thankfully for her school supplies, she was awarded financial aid with only a portion of the funds required to be paid back once she finishes school. And when it comes time to repay, she will benefit by building her personal credit for future large purchases.
  • Account for books. They can be pricey—up to $500 per book! Check online, get used versus new whenever possible, and once you’re done, return the favor and sell them back to the bookstore or to another student.
  • Living expenses. We’re lucky to have saved on this expense for the time being, but if you have children going off to school, don’t go crazy right away. Let them live in their space a bit to see what they really need, rather than buying a bunch of items they don’t need and won’t use.
  • Make sure your kid contributes. After all, they’re one step closer to the real world. They should be responsible for paying at least one student loan, and helping with either furnishing that dorm room, or if they have a car, paying for the gas/insurance.

Year after year, school shopping never ceases to put me and my husband under financial stress. However, we have learned that planning is key, and there are ways to save money. So before you ever step foot in a store, swipe your card, or apply for a loan, be sure to look at financial assistance options, and think before you buy.

First Source Federal Credit Union and Community Partners Building Miracles

Tuesday, August 6th, 2013

There are many ways to give back to our community, and it warms our hearts to work together with our community partners to provide funds to our local Children’s Miracle Network Hospitals member Faxton St. Luke’s Healthcare. Eileen Pronobis and Julie Wells talk about how new equipment, facilities, supplies and personnel can save lives in our community, from newborns to 18-year-olds, and improve the quality of life for their families as well.

Learn more about how we’re helping to build miracles by clicking here.








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