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| Message from the President
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A Message From The President
“Heritage Way” is the new name for the financial planning/investment division of HFCU replacing the old name of “Members Financial Services”. The Board of Directors and Management decided to rename this division so that the service would be more closely aligned with the Credit Union itself. The new name is now registered in the State of Vermont. Although the name is new, the investment, planning and insurance services offered have been available since 1990. Our broker, Rich Rodrigue, will continue providing investment and planning services as he has in the past. We offer our members services to acquire stock, mutual funds, and both annuity and insurance products. Our staff will review your needs with absolutely no obligation on your part.
Heritage Way is owned by the Credit Union. As we introduce the new name to our membership, we plan to offer various promotions and other materials that will bear our new logo as well as the name. We hope you take the time to acquaint yourself with this service.
It has been a volatile year - fluctuating interest rates, high unemployment and the general uncertainty of businesses that we used to rely on as being solid have captured the headlines. These issues also represent challenges and opportunities at an ever-changing and often accelerated pace.
We took advantage of the unemployment market conditions and renovated our 30 Allen Street Headquarters, providing work for many in our area at the same time that we updated our main facility that has begun its 20th year at this site. As you can imagine, there have been many changes over these years and we needed to get current operationally as well as improve our look. Now that we are nearing completion I urge you to stop in and enjoy the updated décor.
In spite of all the issues regarding the overall market Heritage Family has achieved good results for the first (9) nine months of 2009. This success is a direct result of you, the member, utilizing our various products and services. The increase in the number of mortgages re-financed as a result of the lower than expected interest rates was a major part of our strong numbers
We now need to think ahead to anticipate your needs. In October we will be offering Home-Equity specials with a favorable rate and term. Also being developed is a new shared-branching service. This will enable you to go into other participating Credit Unions and do transactions on your HFCU account just the same as if you were here in Vermont or New Hampshire. In other words, if you go to Florida each year you will be able to maintain your HFCU account by using participating Credit Unions in Florida. Conversely, members that belong to a participating Credit Union in Florida will have access to their accounts at HFCU branches in Vermont or New Hampshire.
With the Holiday season just before us, it is good to remember that our visa card will allow you to skip December’s payment and that it features a rewards program enhancement.
-Ron Hance, President
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