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Posts Tagged ‘Mike Parsons’

Everyone Deserves a Second Chance

Thursday, April 16th, 2015

parsonsBad things sometimes happen to good people. You may find yourself in a situation you never thought possible. Maybe you had an emergency, and had to use your credit cards to bail yourself out of a bad financial situation. Now your credit cards are maxed out, you’re making minimum payments, the interest is killing you, and you keep falling further behind. Or perhaps you simply lost your job due to a slow economy, and to make ends meet, you’ve had to juggle some bills. Late payments have affected your credit history, and you don’t know where to turn for help.

Whatever your situation is, you’re not alone. You shouldn’t be penalized because of an unplanned incident or financial hiccup. At First Source, we know your credit score doesn’t say who you really are, or what you’ve been through. We want to know your story and see how we can help. It’s our mission to find solutions to our Members’ financial challenges, and we promise to do so in a compassionate and caring way. Our goal is to help you improve your credit score and get back on your feet. We’ll help you learn the best way to do that, and check in with you as you go to make sure you’re on track.

First Source is your financial partner for life, through good times and bad. Give us a call at 315-735-8571, or set up an appointment below to see how we can help you make your dreams come true.

 

Mike Parsons
President/CEO
First Source FCU

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President & CEO Mike Parsons on Giving Back to Our Community

Monday, December 2nd, 2013

Mike Parsons talks about how First Source Federal Credit Union Members, staff and friends have been giving back to the community for more than 75 years. Giving of your time and resources helps so many in our area lead more productive lives, and enriches everyone in the Mohawk Valley. Mike invites you to join the effort and help make a difference.

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

An update from President/CEO Mike Parsons

Friday, June 29th, 2012

At First Source we believe we have an obligation to promote and protect the credit union industry. We continue to work with members of Congress on important issues to the credit union movement such as the federal income tax exemption that credit unions have due to their unique ownership structure, which allows us to continue offering our membership low cost financial services.

Recently Congressman Richard Hanna visited our new Rome Branch to recognize our investment in and commitment to the communities we serve. I’m pleased to report that Congressman Hanna has become a strong supporter of credit union friendly legislation. Thank you Congressman Hanna!

As President of your Credit Union I’m pleased to let you know that I’ve recently been elected to Board Chairman for the National Association of Federal Credit Unions where I am able to represent credit unions on the national level working with government-elected officials to ensure that the importance of credit unions is well understood and appreciated by all so that we may continue to serve you well and provide product and service enhancements.

Thank you for your continued business!

Mike Parsons
President/CEO

Overdraft Protection: cutting through the confusion

Thursday, May 13th, 2010

You may have received a notice in the mail or email from us (or perhaps another financial institution) asking you to confirm your desire to continue your overdraft protection on your checking account; a service that we call Member Reserve. While a recent federal requirement regarding overdraft protection services was a big story in the financial news, it may have caught you off guard. We’ve noticed that some letters and emails are clear, and communication from some financial institutions appear to be a bit deceptive.

What’s it all about? Simply put, the federal government has mandated that all financial institutions ask their account holders to confirm that they want overdraft protection, (which provides protection if you inadvertently overdraw your account through either of these services). We always keep our Members’ best interests in mind, so we provide this courtesy service to members who qualify. While there is a nominal fee for us to cover any overdrafts ($25 for each occurrence), it costs you less than you would typically be charged if your check (or debit) bounced, and you’re also saved any extra cost, inconvenience or embarrassment it would have caused you. If you decide at some point in the future to cancel this service then you may revoke your opt-in at that time.

We’ve offered Member Reserve for some time as a standard service, but a number of banks have tried to frame this as a “new” service that you may be charged an ongoing fee for, and have tried to reel in new account holders this way. We don’t believe in deceptive practices to attract new Members—we know openness is a much better way to foster a strong relationship with you.

Rest assured, your First Source Member Reserve service will be uninterrupted once you complete the simple “opt-in” process. If you have any questions about Member Reserve or aren’t sure how to follow-up on our earlier letter, you can easily opt-in or get more information here, or at any First Source branch.

Fighting For You

Thursday, April 15th, 2010

New proposed legislation may not be in your best interest.

Along with First Source Board Member and President of JAY-K Lumber Dean Kelly, I had the opportunity to visit with U.S. Senator Charles Schumer when he visited JAY-K Lumber this past week. I had a brief chance to mention a letter I sent to him recently on behalf of First Source and other credit unions.

At First Source, we’re committed to promoting and protecting all credit unions, to make sure we can continue to provide excellent service to our Members. With that commitment comes an obligation to educate our elected officials in Washington and Albany about the difference between credit unions and banks, and to share our point of view on legislative issues that affect us.

During the past several years, we’ve seen a constant stream of news about problems in the financial services industry. Problems that have hurt millions of consumers across America.

How does this bring us to Senator Schumer? Congress has responded by introducing legislation that would create a new Consumer Financial Protection Bureau, with sweeping new regulations whose sole purpose is to protect consumers from unscrupulous lenders and others who take advantage of them.

While we generally support the new legislation, we don’t want credit unions, which did not cause the mortgage crisis or other problems that led the country into recession, to be subject to new regulations prompted by the actions of other, less-responsible financial services firms. Credit unions, by their very nature, work to protect consumers and only offer products and services that are in the best interests of their Members.

Senator Schumer has been a long-time supporter of credit unions. The Senior Senator from New York has even been working to raise the limit on the number of business loans credit unions can make so they can make more loans to small businesses. We’ve asked him to consider an amendment to the new bill that would exempt credit unions from the additional consequences and costs that banks have earned. This would reward credit unions for our responsible financial practices (before, during and after the bail-out), and allow us to keep fees low and save money for our Members.

Join me in thanking Senator Schumer for his continued support and consideration of this amendment!

Mike Parsons
President/CEO








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