Penn E. Wise - Winter 2010
Penn East FCU Visa® Credit Card - It's Electric
 Our rates are as electric as The Electric City itself! If you are not using a Penn East
FCU Visa® Credit Card, you are probably paying a higher interest rate. Try our low
interest rates that are based on your creditworthiness and keep at least one of your
resolutions: to save more money!
Want a way to track travel expenses, shop with ease and have security in case of
emergencies? Want a card with low rates and low fees? Offering great rates and low fees
on our Visa Credit Card allows us to provide you with the credit you need at a rate
you will appreciate.
With Penn East FCU Visa Credit Card, you can be sure there is:
- NO Annual Fee
- NO Cash Advance Fee
- NO Balance Transfer Fee
- NO Minimum Finance Fee
- NO Kidding!
PLUS, as always, your VISA's Credit Card low interest rate applies to purchases, cash
advances and balance transfers. Check your wallet, you may be looking for a way out
of a high interest rate credit card. Transfer the balance to a Penn East FCU Visa Card.
Interested in applying? Call (570) 342-2720 or stop by
either location to learn more.
*APR=Annual Percentage Rate. Card approval based on creditworthiness. Rates are based on creditworthiness and are subject to change. 25-day
grace period for purchases. Contact the credit union for complete details.
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Changes in Funds Availability
The Federal Reserve Board has provided notice of changes to their
current check-processing infrastructure. This will create a single
check-processing region in early 2010.
What does this mean to members?
The Funds Availability Regulation CC will be in effect as of
January 1, 2010, at which time, all checks will be considered local
checks. There will no longer be any checks considered non-local.
This process will make check clearing faster, which in turn will
make your funds available sooner, in most instances on the next
business day after deposit; however, there will be exceptions.
Checks deposited at the time of account opening and any checks
which cause reasonable doubt will remain subject to a 5-day or
extended hold. These will be determined on a case-by-case basis.
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Internet Gambling Enforcement Act
The Department of Treasury and the Federal Reserve Board have
adopted new regulations entitled the "Unlawful Internet Gambling
Enforcement Act (Regulation GG)."
 All Commercial Accounts will be subject to this new law. The
Act "prohibits any person engaged in the business of betting or
wagering from knowingly accepting payments in connection with
the participation of another person in unlawful Internet gambling."
(Reg GG-UIGEA)
Should the credit union have actual
knowledge that any member is
participating in such transactions, the
credit union will comply with all
regulations of Reg CC and have the
right to close any and all such accounts.
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2010 Penn East FCU
Lani McCrone Memorial Scholarship
Every year, Penn East FCU is proud to recognize the achievements of two area students through a $2,500 scholarship. The award is based on their
essays, academic excellence, citizenship and community and school involvement. Applications for our 2010 scholarships will be available online
beginning February 1st.
Who is Eligible?
Graduating high school seniors who will enroll in a full-time
undergraduate program during the 2010-2011 school year at an
accredited two- or four-year U.S. college/university or vocational/
technical school are eligible. Students must be a member of Penn
East FCU or have a parent or guardian who is a member (active and
in good standing). Children of the Board of Directors or children of
Penn East FCU employees are not eligible.
 How Can A Student Apply?
Stop in at any Penn East FCU location or visit www.penneastfcu.org for an application beginning February 1st. Students will be
required to submit their application forms, essays, high school
transcripts (may be sent under separate cover) and three letters of
recommendation. The required information may be submitted in
person or by mail to:
Penn East Federal Credit Union
Lani McCrone Scholarship
441 North 7th Avenue
Scranton, PA 18503
Completed applications are due no later than Thursday, April 1, 2010.
Only fully completed applications with the required documents will
be considered. Good Luck!
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One More Way Penn East Fcu Is More Convenient Than Ever
Starting January 2, 2010, Penn East FCU will be expanding our hours to make it more convenient for
you, our members! Busy during the week? You will now be able to open and make changes to accounts,
apply for loans and complete other member service requests on Saturday in our Scranton Office.
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Coming Soon To Your Wallet…
New Designs On The Cards You Use The Most!
Penn East FCU is proud to unveil the new designs on your VISA® Credit Card, Debit MasterCard® and
ATM Card. The new designs represent the place in which we live, beautiful northeastern Pennsylvania!
Our VISA Credit Card features a picture of the Electric City Sign at night as it
illuminates downtown Scranton. Plus, Our Visa Credit Card offers a great rate and
low fees.
Our Debit MasterCard is a collaborative, community mural of Scranton's Courthouse
Square completed through the non-profit Heart to Art.® Replace writing checks for
purchases with a Penn East FCU Debit MasterCard.
 Our ATM Card features a picture of a Steam Engine Train puffing smoke during
an excursion.
Like what you see? Stop in to any location today to sign up for a new Credit,*
Debit** or ATM Card.
*Credit card subject to approval. **Must have a checking account for a debit card.
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Board Of Directors Election Notice
 The credit union's nominating committee has nominated incumbents Ellen Matthews, Mary
Coviello and Mary Bagias for three Board of Directors positions up for election in 2010. Additional
nominations for vacancies may be made by petition when signed by 1% of members. The petition
should also include a signed certificate from the nominee stating that they are agreeable to the
nomination and will serve if elected to office. The closing date for receiving nominations by petitions
is February 28, 2010. The election will not be conducted by mail ballot, but will take place at the
annual meeting. Nominations from the floor are not allowed when the number of nominees equals
the number of positions to be filled.
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Holiday Closings
New Year's Day
Friday, January 1, 2010
Martin Luther King, Jr. Day
Monday, January 18, 2010
President's Day
Monday, February 15, 2010
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Penn East FCU Had a Busy Holiday Season
Many Thanks to the Members and
Employees that donated to Toys
for Tots and bought a stocking to
benefit The Autism Center at The
Friendship House. We are grateful
for your support!
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Identity Theft Alert! Job Scams
With current unemployment rates still at high percentages, many job seekers are using
the Internet to search and apply for jobs. This is a convenient and a smart way to look
for jobs; however, you need to beware that scams abound on these job boards -
even the ones deemed reputable. Some of the scams might even be in the form of
advertisements or suggestions on that job site or a pop-up ad. Especially because
searching for jobs can leave you vulnerable enough already, you need to have your
guard up when applying for positions and responding to inquiries.
 How To Protect Yourself
Be on the lookout. If you see any jobs that seem too good to be true, they probably
are. $20,000 a month to seal envelopes from the comfort of your home sure would
be nice, but chances are the employer on the other end is someone looking to take
advantage of you - or, even worse, steal your identity. These individuals might offer
you a job over the phone without even meeting you or asking any interview questions.
Often they will ask for personal and private information and account routing numbers
in the attempt to steal your identity and your money.
Do your research. Thankfully, the same tool they are using to try to scam you is also
your best weapon. Search the company on the web. Often, information about previous
scams can be found. Be aware though, because these tricksters change company names
about as often as you change your socks!
Bottom line, honest employers and real jobs are out there, but the scammers are, too.
Do not give private information to an employer before you have done your research
and found that you can trust them.
For more information on protecting yourself on the web, visit www.onguardonline.gov.
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