Riverset Blog

To refinance or not to refinance, that is the question

2012-03-01T15:44:00.000-05:00

You’re in the market for a new/used vehicle. You conduct extensive research online to learn what you can get for your trade in, dealer inventory, current auto promotions, color/features that you want – the list goes on and on. You think about what payment makes you the most comfortable (incidentally, NEVER start out your conversation with the salesperson at the dealer by revealing what payment you want…I’m sure they’d love to extend the term from 60 months to 72 months to get you there) and you make your way to the dealer, get what you want, and drive off. Now what?

You’ve signed the papers but that doesn’t mean that you shouldn’t give a second thought to your auto loan. What is your interest rate? What is the loan term? Refinancing your auto could save you money and, it is typically a relatively quick and painless process.

Interest rates are historically low. Just check online to see what they were a couple of years ago and what they are today. When you purchased the vehicle, how was your credit? Poor, Average, Great? Has anything changed? If it’s improved you could secure a better rate. And, even if it was great when you first secured your loan, the rates now could even be better. Remember, you can access your credit report for free each year at http://www.annualcreditreport.com/.

Again, refinancing depends on a number of factors including is there value in the vehicle or are you “upside down” (i.e. vehicle is worth less than the loan balance), age of the vehicle, repayment terms and possibly a number of other factors. Check out this article regarding the five best situations for an auto refinance on your car loan from bankrate.com . The article provides some quick tips and states that “finding a lender that refinances is the easiest step in the process and goes on to state that credit unions have money to lend.”

So, I say do your research. Use our one-stop vehicle research center available here. Even if it is only a savings of $20 a month, it could mean saving hundreds or thousands over the life of the loan.

U G L Y spells - You could win $250!!

2012-02-23T08:42:00.001-05:00

So, is anyone out there like me with a bathroom straight out of the early sixties – turquoise blue bathtub and floor? Do you have a couch so ugly that it should be legal to burn it in the street? Whether it is a room in your house or a piece of furniture that you think is just, well “ugly” then enter to win a $250 Gift Card towards helping you rid yourself of that eyesore or spruce up that room! That’s right, all you need to do is submit a picture of the room/object to marketing@riverset.com or to ATTN: Marketing Riverset Credit Union 1700 Jane Street Pgh PA 15203 and write in 250 words or less why you feel that you should win the grand prize. Oh and don’t forget to tell us your name.

And now for the rules:

· To enter, email marketing@riverset.com

· Do Not submit your entry on Facebook; via Twitter or any other means other than the email address listed above or mail to ATTN Marketing; Riverset Credit Union 1700 Jane St. Pittsburgh, PA 15203 no later than March 19^th.

· All people that enter must live, work, worship or attend school in Allegheny, Beaver or Butler Counties or be eligible for Riverset membership via a family or household member

· You do not have to be a member to enter but you do have to be at least 18 years of age

· Riverset employees, immediate family and household members are not eligible.

· No purchase necessary

· By submitting an entry, you are giving permission for Riverset to use your name, picture and submission for promotional and advertising purposes

Once we’ve received all of the entries, we’ll put it up for a vote on our blog which will ask for comments as to which one is the best. The one with the most votes by March 30^th will receive the grand prize of a $250 Gift Card. Two runner ups will each receive a $75 gift card. What do you have to lose?

Oh and aside from the contest, like us on Facebook and/or follow us on Twitter. It isn’t a condition of the contest but hey well, it never hurts to ask.

Reading, Writing, Arithmetic - what about financial literacy?

2012-02-15T08:00:00.000-05:00

Whether you are in school now or at one time were, classes such as reading, writing, math, history etc. were staples in the curriculum. Some of what we learned is put into practice on a daily basis and others are fascinating bits of information that certainly have made us more well-rounded. One thing is clear - when I was younger, I don't recall having any financial literacy classes that would help me to prepare for managing finances in the future. Now isn't budgeting, saving, paying bills and purchasing items part of our "daily" activities?

College graduates in their twenties and thirties are referred to by the media as "Generation Broke" because they are graduating from college with a ton of student loan and credit card debt. Certain rules surrounding credit cards have changed thank goodness (now if you are 18-20, you have to have a cosigner that is 21 or older that has the necessary income to support the payments OR if you are 21 or older, again the necessary income is required - imagine that!). But nonetheless, the debt still seems to add up as costs of higher education have risen 66% in the last decade.

Financial literacy classes teach students about money management, personal finance and credit reports - a bit different from the standard economics class. If courses aren't offered in school or even if they are - it is extemely important for parents, mentors, and all family members to start teaching basic finance skills to children and build on the concepts as they grow.

There are a number of resources that can be of assistance:

Jump$Start Coalition for Personal Financial Literacy
National Endowment for Financial Education
BALANCE Financial Fitness (free financial counseling that Riverset offers to its members)

Just to name a few.

Just a little patience...

2012-02-08T20:16:00.001-05:00

Ah February...a generally gloomy month of the year with the exception for those who are "anticipating" an income tax refund. Then February becomes the month that all of the necessary tax documents are in hand so that the return can be filed and the "check can be in the mail". But the thought of getting "back" all of that money becomes too much for some and they want it now i.e. no check in the mail...check in hand but at what cost?

I'm talking about Refund Anticipation Loans known as RAL's. Have you ever heard of them? Walk into a tax preparation office and some may say that you can walk out of there with your money in hand. It's a rapid refund that can cost you up to or even over 100% in interest and hundreds of dollars in fees. You may be strapped for cash and think you have to have the money today but you are giving up money that is yours by doing so. If you file your taxes electronically, you can receive your refund relatively quickly.... in some instances eight days or less and have it deposited right into your financial institution account. All with only paying the NECESSARY tax preparation or filing fees.

An old (and I hate that I have to say old) Guns N Roses song comes to mind....

'Cause a little patience, yeah, yeah
'Cause a little patience, yeah, yeah

Just a little patience, yeah, yeah
Just a little patience, yeah, yeah
Just a little patience, yeah, yeah

And you can get your refund without paying exhorbitant fees. We're just sayin...

"Super" Ads

2012-02-03T13:36:00.000-05:00

It's that time of year again. The big game is just 2 days away. You may be running out buying lots of food to prepare or getting decorations for the house or cleaning the home in preparation for the guests that will be coming over. I know that every year you hear the statement, "I only watch for the commercials", but is that ever true? With the Steelers not playing, this could be the year that statement is actually true! With that in mind we began to think of some of our favorite commercials.

Coca-Cola Mean Joe Greene

FedEx Castaway

Bridgestone Tires

Snickers Betty White

Budweiser Frogs

Volkswagen Darth Vader

With Super Bowl viewership on the rise every year, companies are trying to release the best commercial possible and some are reaching us before the game. This year, we've already seen the return of Ferris Bueller, Jerry Seinfeld, Star Wars and Vampires.

So, whatever you do, you won't be bored during the million or so commercial breaks this year. Keep your eyes peeled and maybe take that bathroom break during the game instead.

Take advantage of low interest rates

2012-01-27T08:36:00.000-05:00

It came as a shock to many but the Federal Reserve announced earlier this week that interest rates will remain near zero until late 2014. Speaking solely from the standpoint of a consumer, there are many "moves" you can make in this low interest rate environment that could potentially save you A LOT of money.

A recent MSN money article highlights 7 smart moves while rates are low. You can access the full article here.

The jist of it is this - refinancing higher interest debts to lower interest rates saves you money in interest and can help you pay off your debts sooner. In the late 70's/ early 80's, I remember my father telling me that his mortgage rate was over 10%. Now here I am, with a 5% mortgage wondering if that is too high. My have times changed. You can use finance calculators that will show you what your payment will be at certain interest rates and terms to find what would be best and most affordable for you.

If you have a chance to "lock in" a low rate (as in it is fixed and not variable) then that rate is good for the life of the loan. This is also where having good credit comes into play. The better credit you have, in most cases the better rate you'll receive.

Rates haven't been this low since the Great Depression. No matter how long it has been, the time is now to review the loans that you have or that you anticipate needing in the next few months in order to see how low you can really go and how much money you can actually save.

Winter Wonderland?

2012-01-20T09:36:00.003-05:00

Well, it feels like it's officially here: Winter. 7 degrees outside this morning and the first "real" snowfall yesterday. They are calling for a Winter Storm Warning tonight that could be bringing another 4" of snow and will include the always wonderful ice. Everyone in Pittsburgh knows what happens when the threat of a storm comes: Giant Eagle for milk, bread, eggs and toilet paper. But besides the Pittsburgh staples that everyone always "needs", what should you do to get ready for that storm? We want to make sure you are prepared for everything from a trip to your Credit Union, obviously :), to just a weekend at home. Good luck "Riversetters"! Check out the following links for Winter Safety Tips.

Driving Tips

Pets Need Love Too

Winter Storm Tips

Keeping "Tabs"

2012-01-11T14:35:00.000-05:00

As you already know, Riverset prides itself on our community outreach and charitable donations. We continually try to find new ways to give back to the community that we call our own. It is with great pleasure that we announce that we will be spending 2012 working to help the Ronald McDonald House of Pittsburgh collect "tabs" for their Pop Tab Recycling Program.

The Pittsburgh Ronald McDonald House is able to offer families of children that need to stay in our hospital system hope, compassion and a safe place to call home. Each family has a private, comfortable sutie, as well as a shared kitchen, laundry facility and playroom. Since opening, the House has served more than 11,000 families regardless of their ability to pay. That is where we come in!

Last year, the RMH raised thousands of dollars just by taking the tabs off your pop, beer, soup or whatever and selling them to Pop Tab Recycling Centers. We as employees will be saving all of our tabs and we are asking you to take part as well. Instead of just throwing that can into the recycling bin, pop off that tab first. Drop any and all tabs at either of our locations and we'll be getting them all to RMH. As the year goes on we'll be instituting some contests and fun stuff for those that donate, so keep your eyes peeled!

What comes first, the chicken or the egg?

2012-01-06T08:00:00.000-05:00

We’ve all heard it before, the old “chicken or egg” question now let’s apply it to a real life scenario. You apply for a job and they’d like you to have more experience yet you need the job to get the experience. Sound familiar? The same applies to your personal credit situation. You need to establish credit so that you can build your credit history for future purchases including a car, home etc. However, when you apply for credit without any prior history, it can oftentimes be difficult to obtain. Chicken and egg.

Believe it or not, it may seem like a great idea to use cash for all your purchases but it will come back to hurt you in the end when you are trying to make one of the purchases mentioned above – unless of course, you are using cash for that too which is unlikely. Establishing credit and using it wisely is what you want to do but the first thing you need to do is find an institution that will issue you credit so you can get started.

For those new to credit, a secured credit card is usually the easiest type of credit to get. It requires you to make a cash deposit that the creditor can keep if you do not make your payments. (You will get the deposit back otherwise.) The credit limit is often low, and the interest can be high, but you may be able to convert it to a regular credit card after a year or two of on-time payments. You want to make sure that the creditor reports your account to the credit bureaus – if they don’t, you won’t be establishing a credit history.

Another option is to have someone with a good credit score cosign an account for you. This requires a great deal of trust on the part of the cosigner – if you fail to pay, he or she will be held responsible for the full balance. If you are under the age of 21 and are applying for a credit card, you have no choice but to obtain an application that contains the signature of a parent, guardian, or other individual 21 years of age or older who will take responsibility of the debt or proof that you have independent means of repaying any credit extended. Gone are the days of applying for a credit card on a college campus to get a free t-shirt without having verifiable income. That’s how I got my first credit card.

A safe bet is to apply for a secured credit card, use it a couple times a month for purchases where you’d normally pay cash and then pay it off at the end of the month. You aren’t racking up debt but you are building credit.

Happy New Year! Time to check your credit.

2012-01-01T08:00:00.000-05:00

Happy New Year to one and all! Along with resolutions (that most people break in the first month so stay committed), it's time to break out the new calendar and fill in all that is already planned for 2012. When you are jotting down all of the birthdays, events and to do's, make sure that you remember to secure your annual free credit reports at annualcreditreport.com.

Every year, you are entitled to obtain one free report from each of the major credit bureaus: Equifax, Experian and TransUnion. This gives you the opportunity to review all of the information that is being reported to the bureaus (note, there are creditors that do not report your informaiton to all of the bureaus so sometimes what is on one may not be on another) and make sure that :

All of the information on your report is actually yours
All of the information being reported is accurate
No surprises - thieves can replicate plastics and charge charge charge before you know it

If you see anything on there that doesn't belong, you can dispute it. And the reports are really free. If you want your credit score, that's what you'd have to pay to obtain.

Think of reviewing your credit reports annually just like an annual physical - check to make sure that everything is ok with your financial health.

P.S. Don't confuse annualcreditreport.com with freecreditreport.com. At freecreditreport.com you actually have to pay for the report!

Back to the Future?

2011-12-28T08:25:00.000-05:00

Have you ever wished you could talk to your future self? Maybe get some advice on things you’re going to do in your life? Well, barring a Delorean showing up affixed with a flux capacitor, we all know that this isn’t possible. But, just because we can’t go “Back to the Future”, it doesn’t mean we still can’t get some great advice that will help us make the right decisions in our lives. Dr. Karl Pillemer conducted a fantastic study involving over 1,200 older Americans regarding what advice they would give the younger generation. Answers range from “Worrying too much” to “Getting into too much debt”. Check out this story and get some advice from your “future self”!

Teaching financial responsibility turns into a "costly" lesson

2011-12-20T06:52:00.003-05:00

There is no question - children, adults - everyone has to learn what it means to be financially responsible at some point. And, as they say, it's typically better to start early. I recently read a news story about a mother in Illinois who wanted to introduce her son to the "basics of banking" and to do so, encouraged him to open up a savings account at a local bank.

When the young man's account balance dropped to less than $5, the article read that he "ignored" it. Well in doing so, he ended up with $229 fees! Surprise???

The financial institution had a $9.95 a month maintenance fee for "low balance" accounts. This fee caused his account to be overdrawn and then the bank's $28 DAILY overdraft fee kicked in. The mother asked for the fees to be waived (the bank would only agree to waiving one, $28 charge) and stated that she would've gladly paid the charges if it were him that caused them. She finally paid them, got the news involved and eventually received the money back.

Lessons to be learned: when you open an account - make sure you are aware of the following:

Do you need to keep a certain amount in your account?
If so, what is it?
If you don't, what if any fees are involved?
Check your accounts!

Not only does everyone need to learn to manage their own funds, if you have them on deposit at a financial institution, you have to be aware of what "rules" are associated with your account. Institutions are required to disclose this information so that there aren't any surprises. And, do some research to find an account that is right for you.

Read the full article pertaining to this story here.

Tis the season to WAIT to send out resumes

2011-12-15T07:30:00.000-05:00

With the year winding down, we thought we'd check in with our internal HR expert (Eme) to give some helpful tips to those that may have a New Year's resolution which includes finding another job. Eme has years of experience and we believe that she's encountered it all!

Patience is a virtue!

Companies are still finalizing their budgets for next year so it may be best if you wait to apply until after the holidays. The first quarter is typically a good time.
Ah, your resume. This is the key which may or may not unlock the door to an interview. So why is it that so many submit them with spelling errors? Check it over - twice may work for Santa but you may need to do more. Spell check doesn't catch everything. And, keep it to one page. Use key words because some employers use software to sift through the pile. Less is more.
Social media - WOW! This could be an HR person's dream and an applicants' nightmare. Remove potentially derogatory pictures and references - especially if your profiles are public. References to interview taboo questions referencing marital status, age, etc. can be answered without even asking a question if you put it all out there.
Boy Scout's motto - be prepared! Make sure that you have extra copies of your resumes on hand and any other documentation which they may need - photo ID, SSN's, addresses, contacts, references...

Oh, and regarding references - it may be a good idea to ask those you submit as references so that they are expecting the call. HR does reach out to them and it doesn't fare well for you if the person hesitates or just can't remember you.

If the ad states to apply online then apply online. If it reads no calls please then don't call.
Turn your cell phones off. Give the interviewer your undivided attention. And, dress professionally - crisp and clean. The "I just rolled out of bed look" or the stamp on your hand from the club last night may not make a good first impression and let's face it, that's all you have.

Just some words for the wise...

Celebrating one of our own - it's Patrick Flynn Day!

2011-12-09T09:22:00.001-05:00

So, our last few blog posts have been centered around volunteerism - how Pittsburghers can get involved, what Riverset Credit Union has done for the community- - good stuff. Well, someone has to "reach out and touch someone" and make the initial contact to set the ball in motion and today, we are celebrating that person - Mr. Patrick Flynn, Member and Community Relations Representative for Riverset.

Patrick reaches out to organizations in our area and coordinates Riverset's volunteerism efforts each month. This past year, Riverset was one of the top three fundraisers for Big Brothers Big Sisters Bowl for Kids Sake; hosted a bingo night as well as provided Halloween treats to patients at UPMC Children's Hospital; and joined in to help the homeless by supporting Light of Life Mission by participating in their Annual Tunch and Wolf Walk as well as by donating funds and serving a meal at the mission - just to name a few.

Mayor Luke Ravenstahl established the Citizen Service Award to recognize community leaders who have contributed exceptional levels of service towards the advancement of Pittsburgh communities. This award is an addition to the servePGH initiative, which promotes citizen service to impact local challenges.

So, who better to nominate that our own Patrick Flynn? We did and so today, December 9th, 2011 has been proclaimed "Mayor Luke Ravenstahl's Citizen Service Recipient, Mr. Patrick Flynn Day" here in our most livable City of Pittsburgh.

Thanks Patrick!!

What can you do with $2.34?

2011-12-05T13:40:00.001-05:00

Two dollars and thirty four cents. Some of us pay more than that for a cup of coffee in the morning or perhaps a latte. In November, Riverset pledged $1,000 to Light of Life Mission which will feed 427 people. That's right, to feed someone a meal at the shelter it costs - you guessed it - approximately $2.34. It doesn't seem like much, does it?

On December 1st, Riverset staff spent time at the mission on the North Side. It was an unfortunately busy evening according to LOL staff - we served over 100 men, women and children in an hour and a half. If we take into account our donation...that means that our funds really only cover about four dinners in a month. What about the remaining twenty six days?

Located on Pittsburgh’s North Side, Light of Life Rescue Mission has provided support and assistance to the homeless, poor and needy since 1952. Their many services include drug & alcohol abuse recovery, homeless ministry, mentoring and employment training. We're helping to raise awareness for the Mission. Go to Light of Life's Facebook page and become a fan today so that you can follow all of the good that they do for those in our community and help spread the word.

Carol

Sharing the love for volunteerism

2011-11-30T10:52:00.000-05:00

People love to volunteer. People in Pittsburgh LOVE to volunteer. It’s a great way to help out organizations in need within your community and give back to those that may be less fortunate.

During the holidays, people tend to want to volunteer and give even more. Maybe it’s all the “getting” that’s going on or the fact that you may be spending a lot of time buying gifts for your friends and family. You’re giving to them, why not do what you can to help out others? Riverset loves to give back to our community. We try to make it a point to volunteer our time every month to an organization that needs some help. You may be saying, “I don’t know where to begin” or “I just don’t have time to look for someone to volunteer with”. Let us help! We partner with a lot of organizations that are always looking for volunteers. Start by checking these out:

Big Brothers Big Sisters, Bradley Center, Emmaus Community, Family House, Family Links, Goodwill SWPA, Lutheran Service Society, Western PA Humane Society, Womansplace

Other places to look for opportunities are Pittsburgh Cares, Children’s Hospital, Habitat for Humanity and the Greater Pittsburgh Food Bank.

We hope that these help you in your search and maybe offer up some new ideas. Remember, volunteering is a gift worth giving year round!

Helping Emmaus get ready for their Black and Gold Bash

Holidays can bring out the best...and worst

2011-11-25T08:07:00.001-05:00

Thanksgiving is over and the holiday shopping season is here. It feels like it keeps coming earlier and earlier doesn't it? We're online or at the stores trying to get the best deals on those wants and needs for our family and friends - let's face it, we are busy! Well guess what? While we may have the best of intentions this holiday season, there are many who don't and no matter how busy we are, we have to pay attention.

Holidays are a time when scam artists try to take advantage of us all. There are those who pose as "fake" holiday help; those who set up bogus charities trying to take advantage of our giving nature and those who try to steal our credit and debit card information to purchase things for themselves with your money.

If a deal seems too good to be true, it very well may be. Don't donate to a charity that you've never heard of without checking it out first. Be leary of potential counterfeit merchandise. Don't post your SSN online. Never give a person your debit card pin and check your credit card statements each month. These are just some tips to help protect you.

Learn more about holiday crimes here. We're not trying to scare you...we're just trying to help protect what is yours.

You can be last and first - it's true!

2011-11-18T14:50:00.001-05:00

She is the last Star Student Winner this season , first in her class and overall a "first class" young woman - that is Danielle Lynn Paez, a senior at Pittsburgh Brashear High School. She's athletic, academically gifted and gives back to her community -the exact triple threat combination which makes her a Riverset Star Student Award recipient.

We received a warm welcome at Brashear and presented Danielle with her award in front of approximately 100 of her peers, Principal Vater and Activities Director Danielle Leach in the school library, all caught on film by our friends at the Pittsburgh CW and KDKA.

Danielle is considering studying microbiology and may want to attend medical school where we are sure she'll put the skills and training into action that she has received as a volunteer at UPMC's Mercy Hospital. Schools in the running - Pitt, W&J, Duquesne or maybe even Johns Hopkins.

Check out our video chat with Danielle. Fun fact - this girl is double jointed - no doubt from pulling herself in so many directions. Congratulations Danielle!

The "future" doctor is in....

2011-11-15T14:43:00.001-05:00

"Dr. Demino" - that has a nice sound to it, doesn't it? We seem to think so. Medical school is the future aspiration of our latest Riverset Star Student Award Winner, Cory Demino from Keystone Oaks High School.

Cory is both a basketball and volleyball letterman, a member of the National Honor Society, Westinghouse Science Honors Institute and Science Club. Not to mention that he's logged over 235 hours of commmunity service.

We presented Cory with the award during his first period class in front of his parents and his peers. Cory is a very well spoken young man who said that he's honored to receive such a prestigious award.

So, let's learn a little more about "Dr. Cory Demino" shall we? Where will he go to school - Pitt, Johns Hopkins, Princeton? He'll let you know how the college search is coming along. And, of course, a fun fact is always something that we ask...

Although he doesn't play football, he is very much into Fantasy Football (it really has become a "sport" of its own) and apparently his dad is too....

Check out this video

Credit Score, You're Going Down!... Why??

2011-11-08T07:02:00.000-05:00

You are smart and are doing all of the right things. You've never been late on a paying your bills; you have to use credit but know that you are doing it responsibly and things seem like they are going pretty well. Then, you open up your latest credit card statement and notice that although you've been the "perfect" customer, they've lowered your overall available credit limit. You may think, what does it matter, I would've never used it all anyway but did you know that it could hurt you?

That's right. Amounts owed help to comprise part of your overall FICO (credit) score....a nice chunk of the score to the tune of 30%.

You can check it out on myfico.com . The "amounts owed" section includes the proportion of credit lines used which is balances to total credit limits on certain types of revolving accounts. "Just ask Joan" our Lending Supervisor. "You want to stay within 70% of your available limit. In addition, some creditors are not reporting limits to the credit bureaus. So if they aren't reporting limits and you have $3,000 on the card...does that mean your utilization is 100%? Chances are yes."

We recommend that you first start with obtaining your credit bureau reports for free at annualcreditreport.com. The reports won't have your score but you can check your balances vs. limits. If you see that there is no limit listed, call the creditor and ask why. You have a right to know. We just wanted to make sure that you are on the lookout!

A canvas of dedication and hard work

2011-11-04T15:37:00.001-04:00

Saying that Veronica Cheng can multi-task would be the understatement of the year! The most recent winner of Riverset's Star Student Award comes from Pittsburgh CAPA High School. The senior, who maintains a 3.93 GPA, is involved in a plethora of extra-curricular and volunteer activities, including National Honor Society, Yearbook, Women's Choice crisis pregnancy center, Fashion club, craft teaching and much more. This young lady has poise, confidence and is very well spoken!

We presented her with the award and a check for $250 in front of her entire class. She also took the time to show us her amazing art pieces. It blew us away! Her artistic skills, community involvement and generosity make her the perfect student for this award.

Award winner and her art!

It was time to break out our flip cam and chat with Veronica. She explains very thoughtfully how art has an impact on her and holds a special place in her life. And watch the second video below to find out why her friends call her "The Paparazzi"! Congratulations Veronica -- well deserved and very well done!

Thanksgiving Meals for the Homeless

2011-10-31T15:47:00.000-04:00

We're proud to announce that we're teaming up with our friends at Light of Life Rescue Mission during the month of November! All month long, Riverset will donate $2.34 (the cost of one meal) for every new "like" on Light of Life's Facebook page. We'll donate up to $1,000 -- that's 427 meals just in time for Thanksgiving. And, Riverset staff will be on hand around the holiday to serve meals to those at the mission.

Located on Pittsburgh's North Side, Light of Life has provided support and assistance to the homeless, poor and needy since 1952. Their many services include drug & alcohol abuse recovery, homeless ministry, mentoring and employment training.

Check out their Facebook page and "Like" it today!

Breaking up isn't that hard to do!

2011-10-28T14:43:00.001-04:00

Forget that old standard... because breaking up is actually not hard to do. With your bank that is.

Did you know that November 5th has been proclaimed Bank Transfer day?! It seems that consumers are finally getting fed up with the fees, fees and more fees their banks are passing onto them. So what are they planning to do about it? Break up with them, that's what.

The day was created as a way to send a message that there are smarter options out there -- like local credit unions....Riverset! All across the nation, smart consumers are realizing that they don't have to be nickel and dimed anymore by the the big banks. Account fees, statement fees, debit card fees? No way! Credit unions really are the smarter choice. And, according to the Bank Deals Guy at depositaccounts.com; Riverset gets five out of five stars! Check out what they have to say about your credit union right here. Oh, you don't bank here, well you should. Maybe it's time to send your bank packing!

Other stories related to Bank Transfer Day.

'Unbanked' number thousands in (Pittsburgh) region

Local banks hoping customers make the switch

PARTING SWIPE: Depositors defect over fees

12 Steps to Kick Your Bank Fee Addiction

Too Big to Care: All Out of Love with Bank of America

Bank Transfer Day: A Protest With Your Money

Megan makes a difference

2011-10-26T16:07:00.001-04:00

Since early in the seventh grade, our most recent Riverset Star Student Award winner, Megan Sayles, has made a difference by devoting time to volunteerism. She gives her time as a McKeesport Hospital Teen Aide; volunteer at Queen of the Rosary Parish and Inclusive games at Serra Catholic High School, where she is a senior.

She holds numerous leadership roles as Senior Class/National Honor Society and Spanish National Honor Society President. In addition, Megan is a letterman athlete in both soccer and basketball.

We presented the Riverset Star Student Award to her in front of her friends and Principal, outside on what we hope isn't the last nice day before winter!

As always, we interviewed our Star Student Award winner to find out more about her so check it out. This didn't make the video but here are a couple of fun facts about Megan:

First, she has a go cart and loves go carts. She likes to chase her brother around with it. I wish that I had one when I was younger!

Second, about a week after she got her first car, it was attacked by wild turkeys, yes that's right WILD turkeys and they did damage. Hmm so she has a go cart and turkeys damaged her car...watch out turkeys, Thanksgiving is only a month away and you may be on Megan's "hit" list!

Congratulations Megan!!!

Seniors don't always rule!

2011-10-21T09:36:00.001-04:00

Ask Alexa Guzzy, a Junior at Greensburg Central Catholic High School and the first high school Junior to win a Riverset Credit Union Star Student Award. Congrats Alexa!

Alexa tells us that she studies all the time. That is totally evident to us with her fabulous 4.2 GPA. But where does she find the time? She works, is a Varsity cheerleader, member of the track team, student council, interact club (heavy into volunteering), is a lector, volunteer at St. Agness Bazaar, junior cheerleading coach - WOW.

We presented the Riverset Star Student Award to Alexa in front of the entire junior class along with her mother, Principal Myers and Mrs. Debra Welch, her English Instructor who submitted the nomination. What a warm welcome, thanks Greensburg Central Catholic!

Check out our video with Alexa. She'll tell you how it feels to be the first junior to win this award. And, fun fact - she's been to New York City over 10 times with her mom shopping and site seeing! Fashionista - I think so - we loved your outfit!

Helping kids have a "spook-tacular" Halloween!

2011-10-21T08:26:00.000-04:00

Did you know that Riverset holds a volunteer event every month? Whether it's cooking a meal at Family House or Bowling for Kids Sake, we love to give back and contribute to the community.

This month, our team is making Halloween a bit brighter for patients at Children's Hospital of UPMC. We worked together to stuff 150 bags with toys and candy. Gathered around our conference room table, we also feverishly flexed our creative muscle to churn out 150 delightfully spooky and fun Halloween cards. And hey, it didn't hurt that the pizza we had was delicious!

Here are some photos from the evening:

Filling the bags with the goodies

Finished!

A group shot

A great time was had by all! Everything will be delivered to the kids on Halloween -- how cool is that?!

What will the Riverset staff be up to next time? You'll just have to check back later to find out.

Mentoring can be so rewarding!

2011-10-18T15:06:00.003-04:00

At Riverset we volunteer in the community and have been a top fundraiser for Big Brothers Big Sisters Bowl for Kids Sake the last two years. But this isn’t about us. We wanted to profile BBBS and so we talked with our friend Kristina Elias so she can tell us all about this wonderful organization!

Tell us a little about BBBS Pittsburgh –

For more than 46 years, Big Brothers Big Sisters of Greater Pittsburgh has been recognized as the premier mentoring organization in the region. Since 1965, we have matched more than 19,000 children with responsible, caring adult mentors. Preventative in nature, our program unites the agency staff, volunteer mentors, and parents/guardians who work together to deter the occurrence of problematic behaviors in children before they are able to take root. Through role modeling, guidance and friendship, our volunteers fill a void for children who are critically in need of stable and supportive bonds with caring adults.

Tell us about you!

I have been with the agency full time for almost a year and a half. I am the Development Associate and my main task is to plan the special events for the agency including our Corporate Roast in the Fall and our Bowl for Kids’ Sake events (supported phenomenally by Riverset Credit Union) (Hey, thanks for the plug Kristina!)

in the Spring. In addition to planning these two large events, I also manage all of the social media for the agency, supervisor most of our interns and plan several other smaller events for the agency. I am also a site-based mentor with the agency through the Be A 6^th Grade Mentor program. My little and I have been together for almost a year now and I have enjoyed watching her grow and getting to play like a kid again with her!

How can our readers support BBBS?

By getting involved and showing support. Not only do we have the Bowl a thon but we are hosting our 3^rd Annual Big Chemistry Halloween Bash at Buckhead Saloon from 9 pm – midnight. The past two years, this event has brought together more than 300 individuals in the city for a great party that supports a great cause. Check it out.

And, We are always looking for more individuals to participate in our Bowl for Kids’ Sake (BFKS) events! Bowl for Kids’ Sake is not about scoring a perfect game. It’s about doing your part to help children achieve success in life. Anyone can become involved from families to corporations. Teams comprised of four to six individuals work together to raise a minimum of $600 in donations for the agency. Then, in March, after you have met your fundraising goal, its time for fun!

What would you want the people of Pittsburgh to know about BBBS?

Any time, talent or treasures individuals can offer to BBBS are helpful. If you can become a mentor or participate in Bowl for Kids’ Sake, we appreciate even the smallest help. By investing in Big Brothers Big Sisters, you are investing in the future of the community. Our mentoring programs are preventative in nature and help children achieve success thus creating a better future for all. One of our volunteers mentioned “You will never get the sense of ‘why am I volunteering with this agency?’”, and I believe that all others will feel the same when they participate with Big Brothers Big Sisters either through mentoring, donating or fundraising. Start Something with BBBS at www.bbbspgh.org.

Thank you Kristina!!

Hey ya! Congrats to Jamie Linderman!!

2011-10-14T15:17:00.001-04:00

Congratulations are in order for Jamie Linderman, a Senior at Springdale Jr./Sr. High School on being our latest Riverset Star Student Award Winner!

This young lady does it all! She actively volunteers in her community as a charter member of the Leo Club, cheers during football games and then plays with the band at halftime, is a straight A student and works two jobs! Now that is organization at its finest.

We presented Jamie with the Riverset Star Student Award in front of her peers, parents and administrators during her first period A.P. Physics class. The information on the whiteboard definitely looked like a foreign language to me -t hose students know their stuff!

All smiles for the camera!

Jamie's mother is the one who nominated her for the award after receiving information from the guidance department. At the end of the application, Jamie's mother wrote "I am her mother and can brag all I want." - ABSOLUTELY YES YOU CAN and I would too! "To know her is to love her."

Jamie is currently applying for college and until she finds that one thing she knows she wants to do, she'd love to be a professional student.

Check out our chat with Jamie on video right here. Fun fact: She considers herself a "Hey Ya (by Outkast) enthusiast and professional on Just Dance II!

Way to go Jamie and thanks to our friends at the Pittsburgh CW/KDKA for always being there and to Principal Joshua Weaver for the welcome!

Something good can actually come out of Philly!

2011-10-13T11:46:00.000-04:00

Just playing off of the cross state rivalry between Pittsburgh and Philly sports teams..

But seriously, this video from Fox Consumer Reporter Steve Noviello explains the difference between banks and credit unions very well and is just part of the positive PR credit unions have been receiving since Bank of America announced a monthly debit card fee.

Save Me Steve: Credit Unions: MyFoxPHILLY.com

Not really into videos? These are some related articles as well:

(Note: Opinions are of the author, publication does not imply Riverset endorsement.)

Credit unions play up free checkingBankrate.com

Community Banks Not Ruling Out Debit-Card FeesSmartMoney.com

The Top Five Reasons To Move Your Money From Bank Of AmericaCampusProgress.org

Teaching Savings to Kids in SchoolsKiplinger.com

[Suze Orman] Occupy Wall Street: Approved! HuffingtonPost.com

Occupy Wall Street Organizing Nationwide Boycott Against BanksCNBC.com

Charging for Debit Cards Is RobberyNYTimes.com

The 3 Smartest Things I Heard at Occupy Wall StreetFool.com

Everybody say "Ho Ho Ho"

2011-10-11T07:15:00.000-04:00

On Friday, October 07, 2011, chants of HO HO HO came from the students in the auditorium at Fox Chapel Area High School. No, it isn’t an early holiday celebration…they were cheering for our latest Riverset Star Student Award Winner, Mr. Steven Ho!

Steven is one busy guy with a GPA of 4.53 and an extensive list of activities:

Steven's activities include:

Forensics Club
Physics Club
Swim Team Co-Captain; Swimming instructor
Undergraduate Researcher of the University of Pittsburgh Department of Biological Sciences and Gene Team Scholar for the Department of Biological Sciences
PA Junior Academy of Science
AP National Scholar
Volunteer at UPMC St. Margaret Hospital
Big Brothers Big Sisters of America Mentor

just to name a few

Steven is starting the application process for college and is pretty certain that he wants to major in Economics. A little fun fact about Steven – he lived with his family in New Zealand for eight years!

Steven was nominated by Ms. Yacamelli who tells us that "Steven is an exceptional student and person with the necessary qualities to achieve academic excellence and the character of strengths that will allow him great success. He finished Advanced Placement Calculus BC his junior year with an overall grade of 97% - one of the highest in twelve years. He has always been an exemplary student in class, during school functions and in the community. Therefore, it is quite easy for me to give my highest recommendation to Steven."

So Congratulations Steven and “happy holidays” early. Don’t spend your money all at once. HO HO HO

Riverset Star Student Award number 2!

2011-10-05T15:57:00.003-04:00

Like we said before, Riverset Star Student award winners are triple threats. They excel in school, at home and in the community. Meet Jessica Coulter, a Senior at Gateway High School.

Jessica has a cumulative GPA of 4.0 on an unweighted scale. Her list of activities and volunteerism efforts include: President of Class Council, Student Government Association, Vice President of the National Honor Society, Right Start Freshmen Orientation Program, Member of the Varsity Girls Golf Team, Interact Club - volunteering for Community Clean Up Days, Rotary Pancake Breakfast, Coffee for a Change and Walks Now for Autism Speaks. She even completed two apprenticeships as the Pittsburgh Zoo and PPG Aquarium and is presently seeking a volunteer opportunity at a local animal shelter to put the skills she has acquired to use. Wow! This girl is busy.

Today, we traveled to Gateway School District in Monroeville to honor Jessica with her award in front of a group of her peers and family members. (And thanks to the band members present for playing the Gateway fight song before the presentation!)

We asked Jessica:

Q: You seem to have a real passion for animals based on your apprenticeships. What do you plan on doing after you graduate from Gateway? "Well, I'm applying at Pitt, Penn State and South Florida and want to major in ecology/ natural sciences." We think that the weather in South Florida would be great....she hasn't made up her mind yet but family is important to her and they seem to be Pitt fans!

Q: Tell us something that not alot of people know about you? I became certfied in scuba diving. I took a class about 45 minutes away. Q: When do you plan on using what you've learned? Not sure but definitely soon.

Jessica plans on using her winnings for some new fall and winter clothes. Hey, it's her money and she deserves it!

Jessica was nominated by Mr. James Pottinger who wrote "Jessica demonstrates superior performance and strives for honesty and excellent ethical behavior. I feel that Jessica exceeds the criteria for the Riverset Star Student Award as displayed by her overall leadership, outstanding scholarly performance and never-ending community involvement." Congratulations Jessica!

Jessica's family

Jessica Coulter, her peers and Principal Short

Debit Card fees = one "Angry Anchor"

2011-10-04T11:39:00.000-04:00

So, did you read yesterday's blog post about debit card fees? Well if you didn't, check it out. This video is a result of what is going on out there. It says it all. View it here.

Fees for using your debit card? No way!

2011-10-03T14:01:00.001-04:00

It's been all over the news lately - free checking could become non-existent. I wrote about this awhile back in a guest blog post for the Regional Internship Center of Western Pennsylvania. And, I alluded to government regulations which in turn, are forcing financial institutions to find alternative ways to make a profit. I remember writing: "can you imagine actually having to pay to use your debit card or be limited on the number of times you can use it in a month? Please support S.575/H.R. 1081 to delay and study the Federal Debit Card Interchange Rule. " Well, the rule wasn't delayed and so what do we have here....

Just the other day the country's largest bank, Bank of America, announced that beginning next year, they will charge a $5.00 fee per month for those who use their debit cards anywhere other than an ATM. So after years of pushing the convenience of a debit card, are we now going to revert back to "get in your car, go to an ATM, anticipate what you are going to spend and take out that amount, get back in your car and drive to the store where you want to shop and THEN go buy what you want?"

Way too much to process!

That doesn't sound like the way I'd like to pay for purchases...nor as a Gen X'er how I've been "trained" all these years to use my debit card/ primary accounts.

Here are some tips posted by CBS from Consumer Reports on How to Avoid Paying Bank Fees - one of which is to bank at a credit union, you know like Riverset! We're just saying - it's just another reason.

First- ever Riverset Star Student Award

2011-09-26T09:53:00.001-04:00

Meet Clarissa Kimmey, the first-ever recipient of a

Riverset Star Student Award

Riverset Star Student award winners are triple threats. They excel in school, at home and in the community. Meet Clarissa Kimmey, a Senior at Moniteau High School.

Clarissa has a cumulative GPA of 4.0 on an unweighted scale. Her list of activities and volunteerism efforts include: United States Academic Decathlon State Champion; Senior Class Treasurer; Student Council and National Honor Society Officer; a Peer Mentor; Concert Band; Track and Field and a member of the KDKA Hometown High Q Team. When Clarissa isn’t in school, she tutors students after school and volunteers as a candy striper at Butler Hospital.

On Friday, September 23rd, we traveled to Moniteau School District in West Sunbury, PA to honor Clarissa with her award in front of her peers at the first pep rally of the year. We asked Clarissa:

Q: Clarissa, what does it feel like to be our first ever Star Student? "I was so excited. I didn't even know that Mr. B nominated me. It really is an honor."

Q: When you have free time, what do you like to do? "I like to read and really enjoy volunteering at the hospital."

Q: What are your plans after high school? "I think that given the current economic climate that I can make a real impact by studying economics, which I plan to major in when I go to college."

Q: Clarissa, give us a fun fact about you. "I'm addicted to carrots!"

Clarissa was nominated for the award by Mr. Borkowski, Gifted Coordinator at Moniteau. Mr. Borkowski wrote “In all my experiences in education, I have never encountered a student who would be considered a “star student” that is literally as bright as Clarissa Kimmey. I have never seen a student that is so driven, yet leveled, so intelligent, yet humble, so willing to help others. I could say that she is truly the most amazing student I have ever encountered. She is living proof that hard work and determination will lead to success.”

Featured left to right: Lisa Florian, Riverset's Director of Business Development and Marketing; Christine Chojnicki, Riverset's President/CEO; Clarissa Kimmey, Riverset Star Student Award Winner; Mr. Borkowski, Gifted Coordinator at Moniteau High School; Patrick Flynn, Riverset's Member and Community Relations Representative

Clarissa, congratulations on being our first-ever Riverset Star Student!

If you know a student who excels in school, at home and in the community and think you’d like to nominate them for a Riverset Star Student Award, you can access the criteria and nominations form here.

Go Warriors!

Welcome to our blog!

2011-09-20T08:19:00.000-04:00

Hey there. We're glad you stopped by! We're eager and excited to introduce our brand new blog. Riverset has always been proactive in communication and service -- and this is just another great way for us to keep the conversation going strong.

This blog will feature financial tips, quick and timely updates, member & employee stories, fun contests and a whole bunch more. But most importantly -- it'll feature you! After all, solid communication begins with listening. So give us a shout and let us know what you think. Without your input, we'd just be talking to ourselves (which, let's be honest, is kinda lame).

We may be new residents of the blogosphere, but we hope you'll make us a regular stop and check us out often. Come back now, ya' hear?

Enjoy!

What's a credit union, anyway?

2011-09-19T12:26:00.005-04:00

A credit union is a member owned, not for profit cooperative financial institution.

Say what?

Every member is equal, regardless of how much they have on deposit, every member has a voice. (Did you notice that I didn’t say “customer”?) A credit unions’ board is comprised of individuals democratically elected by the membership. In banking, those who acquire the most stock or should we say have the most money generally serve on their boards and make all of the decisions. At Riverset, every member is required to have $5.00 on deposit in their savings (share) account which represents their equal share of credit union ownership. Credit unions have members whereas banks have customers. Which one sounds better to you?

In short, credit unions return their profits to their members by providing competitive rates on savings and loans and instituting, appropriately priced fees, if there is a fee involved at all. For example, did you know that at Riverset, we never charge any balance transfer fees on our credit cards? Picture using your credit card from your bank and wanting to transfer a $5,000 balance to your card…with a 3% balance transfer fee! That’s $150 on top of what you are transferring. Not at Riverset!

Myth: There has been a long-standing misconception that you have to work for a certain organization to “belong” to a credit union.

Truth: Over the years, numerous credit unions, such as Riverset, have converted from an employer based charter to a community charter. Anyone who lives, works, worships or attends school in Allegheny, Beaver or Butler Counties can open an account with us. If you don’t meet any of that criteria, not to worry…just visit http://www.ibelong.org/ to find a credit union for you.

Myth: Credit unions are inconvenient – there are banks and ATMs on every corner! Wrong.

Truth: Credit unions are convenient. We have free online banking and bill pay and we’d be remiss if we didn’t mention that you can actually personally visit thousands of credit union locations across the country and transact business with YOUR credit union. It’s called shared branching and credit unions, like riverset, that participate are cooperating with each other for the benefit of their members. And, at riverset, our members can use all PNC ATMs surcharge free. Sometimes, banks and credit unions cooperate too!

I’m sure you’ve heard it all before – “we offer personal service, great rates and are committed to our community”. At Riverset, we don’t just say it, we do it! experience trust. bank on riverset.

We’re not on YouTube just yet but check out this video from Young and Free Alberta in Canada outlining the difference between banks and credit unions.