Summer 2013


The Summer Has Arrived!

With the first half of the year focused on the financial audit and a regulatory exam, as well as getting the VA Branch back into operation (post Hurricane Sandy), Greater Metro will use the summer to work on projects related to our Plastic Card Program, redesigning our website, enhancing our online banking and modifying our logo.

When we changed the name of the Credit Union several years ago, we retained the “Metro” connection in the name and logo. But, how do we show the skyline? Leave the left side empty? That was hard to imagine or accept since the Towers and IBM Metro rose at the same time in the early seventies. Also, the final design of the new building(s) wasn’t even selected. We believe that our new logo captured the sentiment of all those in the Greater Metropolitan area.

The employees and volunteers of Greater Metro wish our members and their families a safe and enjoyable Summer!

summer arrived

Now that the Freedom Tower stands as the tallest building in the western hemisphere, we find ourselves at a point of redesign. We hope to have a logo finalized by the time our Fall Newsletter is mailed.

While we work on the above initiatives, life in general tends to slow down during the summer months. The heavy commuting traffic shifts from the work week’s rush hours to the shore roadways of the weekend. Employees take their vacations to spend some family time while the children are home from school. Consequently, employers juggle staff schedules to make sure there’s sufficient coverage to handle customer/member needs.

Greater Metro will strive to provide excellent service during the summer months!


annual meeting

The 2012 Annual Meeting was held on Wednesday, June 26, 2013 at the main office in Long Island City. The Chairman, Robert Morrison, called the meeting to order, confirmed that a quorum was present to conduct the meeting and then proceeded with the agenda. The minutes of the prior year’s annual meeting were approved. Those present were directed to the meeting package which included reports of the officers and a summarized report from the accounting firm that audited the financial results of 2012 (further summarized on this page).

The following employees were recognized for reaching employment milestones this year:

Diane Bradford……………25 years

Carl Robinson………………5 years

Izabela Ceckowska………5 years

A few moments were also taken to recollect the many years of service given to the Credit Union by Fred Ritter and Regina (Jean) Temple, both of whom passed away this year.

The election results for this year’s Board of Director positions were announced. Vincent D’Agostino and Robert Ambrose were elected to serve three year terms.

With no new business to be discussed, the meeting was adjourned.



Capital roundup

While Washington takes a break from investigating scandals, finalizing anticipated reform bills and addressing the damage of previously passed legislation, the Credit Union industry labors through the implementation of regulatory reform requirements to protect consumers. The burden seems misplaced, since Credit Unions have been protecting consumers from the time of their formation. Recently, the Federal Reserve hinted a slowdown in Bond purchases. This has caused interest rates to rise (slightly). Also, the unemployment rate has decreased (slightly). It’s still too early to tell whether these trends will continue.

While the government looks to find more sources of revenue, we as Credit Union members/owners must be vigilant that the funding doesn’t come from legislation that would remove the Tax Exemption afforded us through the Credit Union Act of 1934. Credit Unions are not-for-profit institutions that were formed to bring affordable financial services to those turned away by banks. To keep this Exemption intact, Credit Union Associations such as NAFCU and CUNA rally support from our representatives in Washington.

Without disrespecting any of the representatives, many seem moved to act by campaign contributions and/or votes. The Banking lobbyists have the funding and the politicians can count on their money all year long. Credit Unions have the voters, but being heard on Election Day may be too late.

Our Representatives need to hear from you!

Senators Schumer and Gillibrand of New York are Credit Union friendly.

Drop them a line thanking them and asking for their continued support. When the opportunity presents itself, find out if your Congressperson supports the Credit Union industry and again, thank them if they do, or urge them to if they don’t (maybe their opponents can be of help). We will have more information and links on our website in the future to keep our members aware of important legislation and ways to help.


MasterCard On-Line Statement Upgrade

On August 12, our credit card processor is rolling out an upgrade Access Point for viewing statements. One of the necessities will be for you to “re-register” online. Yes, new user ID setup, new password, new security questions. It may be inconvenient at the outset, but less inconvenient than filling out affidavits should your existing access be compromised. For those of you who regularly access your accounts online, you’ll be seeing messages regarding the change beginning in July.

Separately, we are working with our Core Processor to introduce a MasterCard link from our online banking (It’s Me 247) system.


In Memoriam

On April 2, 2013, Regina (Jean) Temple one of our longest tenured employees, passed away at age 78. Jean retired in 2009 after 26 years of valuable and dedicated service. Although Jean’s primary role was in Accounting, she was the line that connected all of the dots in the operation of the Credit Union. She was a teacher, a confidant, a loving mother, a caring great grandmother and an outright “with it” wonderful person. She is and will be missed.

More recently, our longest active volunteer, Fred Ritter, passed away on June 14, 2013 at age 85. He opened his account with the Credit Union in 1971 (less than a year after the CU was formed) and began volunteering soon after. He was a Board Director from 1979 to 1994 and a Director Emeritus to the day he left us. He was passionate about the Credit Union, but one could argue whether more or less than he was for his beloved Rutgers University or the Boy Scouts of America. He was a family man and a gentleman. The Credit Union thanks him, and his family for sharing him, for all of his contributions in making IBM Metro/Greater Metro a success.


va branchThe VA Branch

The hours at the Manhattan Campus have been shortened. Teller Service is currently available from 8:30 a.m. to 4 p.m. on Monday, Wednesday and Friday.


Holiday Closings

Labor Day – Monday, September 2

Columbus Day (observed) – Monday, October 14

Veterans’ Day – Monday, November 11

Thanksgiving Day – Thursday, November 28

Christmas (observed) – Wednesday, December 25


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