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While our lobbies are currently closed to protect you and our staff, our drive-through windows remain open, and all services are 100 percent available, including online banking.
In fact, we recently gave our online banking system a complete overhaul. Did you know you can transfer money between accounts, pay bills electronically and even deposit checks with your smartphone? Give it a try, or let us know if you’d like a personal tour.
Questions? Give us a call. During these odd times, there is nothing we love more than talking with our members.
Have a safe and happy holiday season,
Russ Cronin
President & CEO
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YOUR DECEMBER MEMBER NEWS
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Help Us Bring Joy
It’s been a long, challenging year—but with your help, we’re making it a little brighter for families in each of our communities. Click here to learn how you can participate in our holiday giving drives happening now in Potsdam and Tupper Lake.
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Invest the community. And yourself.
We’ve long admired the great work done by the Adirondack Foundation to support non-profit organizations all around the North Country. With our new charitable donation accounts, we will devote half of the return on our investment to the Foundation, while keeping the other half of the gains for to support member services. Learn more about it here.
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The end of the year is drawing near, but there are still some last-minute steps you can take to reduce your tax burden. Everybody’s situation varies, of course, but here are some things you might consider:
1. Make a charitable contribution. Thanks to the CARES Act, even people who don't itemize taxes can claim up to $300 deduction for charitable donations this year. And if you do itemize, you can deduct up to 100% of your AGI for donations made to public charities.
2. Prepare for the future. IRAs and 401(k) plans are great vehicles to prepare for retirement. They also help reduce your taxable income, either now or when you retire. Whether you have a 401(k), traditional or Roth IRA, take the chance to max out your annual contribution. $19,500 to 401(k) plans, and, depending on your income, $6,000 to a traditional or Roth IRA ($6,000 for those under 50; $7,000 for those 50 and older.) Check with your tax advisor.
3. Max out your health savings account (HSA). If you contribute to one of these plans, make sure you’ve contributed the total amount allowable—in 2020, that’s $3,550 for individuals and $7,100 for families. (HSAs are typically only available to people with high-deductible health plans. Because you can deduct what you put into the plans, though, they can deliver big savings.)
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Gain financial literacy. And $300.
We know how hard it can be to get your financial house in order when every month is a struggle. It’s why we’ve been working with other credit unions and the United Way of the North Country to create a financial literacy course, which will launch in 2021. Everybody who completes the course can set up an account— and we'll contribute $300 to start.
Learn who qualifies, and tell a friend who may benefit.
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Your Membership is an Investment in Our Communities
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