www.empowerfcu.com

Summer 2020

IN THIS ISSUE:

An Empower Federal Credit Union® Publication.

Operational Update

Page 3: Lobby Access & Online Banking

Page 4: Student Loans

Page 6:

Home EquityPage 5:

Page 7:

External Tranfers & Board Election

Empower Insurance Services

Page 2:

The last few months have certainly been an experience that none of us could have imagined. This is to update you on the operations of the Credit Union. Your membership at Empower makes a difference in our community. Without each of you, our over 200,000 members, we would not be as strong of an organization. Thank you! Together we will make a difference, the Credit Union difference!

Here at Empower we have realigned our operations to continue to provide world class services while keeping employees and members safe. As an organization we were prepared, as we semi-annually review our pandemic preparedness. We shifted to a work at home strategy seamlessly thanks to our Information Technology employees. We also cross trained employees to work in areas where our members needed us most. We increased the number of Call Center employees over 300% to meet the demand for remote access options and maintain low wait times on the phone. Although our branch lobbies were closed, our drive thrus remained open performing all services. We updated limits on remote access options for our members convenience.

Our lending team moved to a digital loan closing process and continue to work diligently to help our members that are experiencing financial difficulty at this time. In addition we were able to help our business members with the PPP loans, which kept our small businesses in business.

Our operations team helped our members receive over $100 million dollars in stimulus funds. To help in our community, the Marketing and Business Development teams shifted their focus exclusively to giving efforts, helping not for profits and area schools with contributions and resources. Staying focused on our long time mission, the entire Empower team pulled together with one goal, to help every member, one member at a time.

Our branch lobbies are now open! We have installed plexiglass shields, require masks, employees are wiping down surfaces after each member, and we are limiting the number of members in a branch at any one time to do our part in controlling the spread. Check out our website for our full opening plan. In particular I would like to recognize our talented branch staff for their dedication and commitment to meeting our members in person financial needs.

We are ready for the new normal. We will not only survive together we know we will thrive together.

If you have any questions, and/or comments regarding branch or call center services you can reach Lori at: lverzillo@empowerfcu.com.

Operational Update

Lori VerzilloSenior VP/Chief Retail Officer

2 | Empower Federal Credit Union® SPOTLIGHT www.empowerfcu.com

WITH YOUWHENEVER. WHEREVER.Put an Empower Mastercard® in your wallet and get spending flexibility, while potentially saving money with our competitive rates. With its valuable rewards program, you’ll accumulate points on everyday purchases that you can redeem for fabulous gift cards for merchandise or use to pay with rewards.

Empower Federal Credit Union® SPOTLIGHT | 3www.empowerfcu.com

Exciting News! Full Lobby Access

As of June 22nd Empower branch lobbies have been open for in-person full service. All transaction types can now be completed in our lobbies.

Online Banking & Mobile AppOur online banking and mobile app bring the latest in terms of technology, customization, features and security.

Some of those benefits are:

Register today for Online Banking by visiting

https://www.empowerfcu.com

Enhanced Security – Login with a Username and Password. Utilize Touch ID to access Empower’s smartphone or tablet app. Multi-Factor Authentication further protects your account.

Account History – view up to 2 years of account history.

Account View – access all accounts that our records reflect you are primary and joint on.

Full Customization – use of themes, notifications, and settings.

External Transfer – transfer funds to and from accounts that are held at other financial institutions.

Mobile Check Deposit – deposit a check from the comfort of your home. Download the Empower app to your smart phone or tablet.

Our Syracuse VA and National Grid Branches remain closed due to facility restrictions. We will keep you updated on their status. If you have any questions, please contact our call center representatives during normal hours between 7:30 am to 6:00 pm Monday through Friday and Saturday 9:00 am to 1:00 pm. Call 315.477.2200, toll free at 800.462.5000, or visit https://www.empowerfcu.com.

In addition to all enhanced remote access options remaining available to you, our talented branch employees are eager for your visit. We are committed to you and your financial needs. On behalf of the entire Empower team, thank you for your patience, support and cooperation as together we embrace our new normal.

In order to serve you safely you will see some changes such as:

• New plexiglass shields have been installed in all branches • Employees and members must wear masks• To properly social distance, we are limiting the number of members allowed entry into the branch at any one time

As we all know too well, the ongoing coronavirus pandemic has lef no part of society untouched. Given the uncertainty of whether colleges will re-open this fall for in-person classes, coupled with the new fnancial challenges brought on by the pandemic, many families are facing difcult decisions in the coming days and weeks.

Tat’s why Empower has developed several solutions to help you.

RESOURCE HUB With all of the misinformation, we wanted to provide some clear guidance on topics relevant to our college-bound families and members. With information ranging from college planning during the pandemic to advice on negotiating with a college for more fnancial aid, our hub is full of helpful, relevant information. Learn more at empowerfcu.studentchoice.org/resources

FLEXIBLE COLLEGE FUNDING Apply now, borrow later. We know that determining your fall college funding needs may be a challenge. Don’t worry – with our private education line of credit, we’ve got you covered. Even if you’re unsure of the college you’ll be attending or the exact loan amount you may need, you can establish your private education line of credit today. Ten, once your plans have been fnalized, you can come back to request the exact funding you need. Learn more at empowerfcu.studentchoice.org/fnd-a-loan

PERSONALIZED SUPPORT Our College Access & Repayment Counselor can provide personal, one-on-one consultation for all of your fnancial aid questions. Whether you’re a parent, high school student, or college graduate entering loan repayment, our counselor can walk you through the necessary steps to make smart decisions about paying for college – and beyond. Learn more at empowerfcu.studentchoice.org/plan-for-college/college-access-counselor

Why secure funding with Empower?

o Helpful online resource hub with relevant content o Flexible funding – apply now, borrow later o Personalized, one-on-one support o Borrow from a trusted, local Credit Union

4 | Empower Federal Credit Union® SPOTLIGHT www.empowerfcu.com

Empower Federal Credit Union® SPOTLIGHT | 5www.empowerfcu.com

Make your home work for you with Empower Federal Credit Union’s Home Equity Loans, featuring competitive rates for homeowners in New York and other states. When you borrow against the value of your home, you’ll receive your funds in a lump sum so you can undertake home remodeling projects, finance an education, vacation, or anything else you can imagine. Another option is a Home Equity Line of Credit which allows you to draw on funds as needed.

APPLY TODAY

NO CLOSING COSTS!

800.462.5000 • empowerfcu.com

Insured by NCUA NMLS: 412348 Membership eligibility required. Loan approval based on creditworthiness. All loans subject to approval. Rates, terms, and conditions subject to change. *APR = Annual Percentage Rate. Annual Percentage Rate may vary. Consult a tax advisor regarding the deductibility of interest. Property Insurance is required. Home Equity Loan must remain open for at least 36 months or the member may be obligated to pay back any and all closing costs.

HOW DO YOU SEETHE EQUITY

IN YOUR HOME?

6 | Empower Federal Credit Union® SPOTLIGHT www.empowerfcu.com

External Transfers Available in Online Banking!Empower members can transfer funds to and from accounts that are held at other financial institutions online. External transfer makes it easy and secure (options include: one-time or recurring transfers).

To get started, simply go to the Transfer widget in Online banking and select the [+Add External Account] button on the Classic Transfer tab or from Settings, select [+Link an External Account] on the Accounts tab.*

To locate settings, click the arrow that appears next to your name in the top right corner of your screen within online banking.

When adding a financial institution for the first time, confirmation is required. Two micro deposits (credit) will be sent to your external financial institution. A withdrawal (debit) will be made from your external account in the same amount as the credits. You will be required to enter the two credit amounts deposited to confirm your account**. These transactions generally take 2- 3 business days to process.

**After confirming the account there may be a delay in the availability of the new account within the Transfers widget.

Getting started

Notice of Board ElectionIn March of 2020 notice of re-nomination of four candidates to serve on the Board of Directors was provided to the membership. Since the annual membership meeting was postponed, the deadline for members who would like to be considered for nomination by qualifying Petition has been extended until September 7, 2020. If you are interested, contact Allynn Toney at 315.728.5167 to obtain a Nomination by Petition Packet. Any Petition signed by 500 Empower FCU members and other required documentation must be received by Empower FCU at 1 Member Way, Syracuse, New York, no later than September 7, 2020.

ClambakeThis 50plus clambake is cancelled due to COVID-19. We look forward to seeing you in 2021! More information will be provided once available.

The annual membership meeting date, time and/or format has not yet been determined. Updates will be made available online at https://empowerfcu.com/About-Us/Events-Calendar.

If you have opted to not receive marketing materials, you are only receiving this edition of the Spotlight newsletter because it includes required member notification about the nominating process. You will not receive further editions unless it contains another required notice to the membership or if you contact a representative to opt-in to receiving Empower marketing materials in the future.

Empower Federal Credit Union® SPOTLIGHT | 7www.empowerfcu.com

Holiday Closings

Get the Empower FCU App!

Phone1.800.462.5000

Onlinewww.empowerfcu.com

Visit www.empowerfcu.com/locationsfor branch locations

Manage your Empower account anytimeon-the-go with our Mobile BankingApp. Check account balances, transferfunds, deposit checks, apply for loans,pay bills, find locations, and contact support. It’s that easy!

Visit www.empowerfcu.com to learn more.

Visit www.empowerfcu.com/ratesfor current rates

Labor DaySaturday, September 5th Monday, September 7th

Columbus Day Monday, October 12th

Veteran’s Day Wednesday, November 11th

Empower Insurance Services provides access to a full range of insurance products to benefit you.Our mission is to ensure that you are provided with objective, timely information to help you make sound insurance decisions.

Homeowners, Renters & Rental Properties

Automobile (motorcycle, RV, boat, ATVs, snowmobiles, etc.)

Umbrella Liability

Commercial

We’ve Got You Covered.

are you payingtoo much?

Empower Insurance Services, LLC (formerly known as Empower Associated Services Inc.) is affiliated with Empower Federal Credit Union (EFCU). The purchase of insurance from Empower Insurance Services LLC is not required to obtain credit or other services from Empower FCU. Insurance products are not credit union deposits and are not NCUA insured, nor are they obligations of or guaranteed by Empower FCU. Not all insurance products are available in all states. Call for availability in your state.

We’ve Got You Covered.

Empower Insurance Services, LLC is affiliated with Empower Federal Credit Union (EFCU). The purchase of insurance from Empower Insurance Services LLC is not required to obtain credit or other services from Empower FCU. Insurance products are not credit union deposits and are not NCUA insured, nor are they obligations of or guaranteed by Empower FCU. Not all insurance products are available in all states. Call for availability in your state.

Contact an agent today!315.426.5678

empowerfcu.com/insurance

Thanksgiving Day Thursday, November 26th

Christmas Day Thursday, December 24thFriday, December 25th - Closes at 3pm

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