August 2023 - High Point FCU

6 Tips for Building an Energy-Efficient Home

Building a new home involves many decisions and expenses. As you work through the process, try making your new home as energy-efficient as possible. Let’s explore six ways you can build an energy-efficient home that promotes a sustainable future.

1. Optimize site selection

The first step in building an energy-efficient home is to choose the right location. Consider factors such as solar orientation, prevailing winds and surrounding vegetation. Maximizing natural resources, like sunlight and wind, can really reduce the need for artificial heating, cooling and lighting.

2. Efficient building envelope

A well-insulated building envelope is crucial for maintaining a comfortable indoor environment while minimizing energy loss. Use high-quality insulation materials in walls, roofs and floors of your new home. Opt for double- or triple-pane windows with low-emissivity coatings to reduce heat transfer. Finally, properly seal any gaps or cracks to prevent air leakage, ensuring your home remains airtight.

3. Use sustainable materials

Choosing sustainable and locally sourced materials can have a positive impact on both the environment and your health. Look for materials with low embodied energy, such as recycled content or renewable resources, like bamboo and cork. Opting for sustainable materials reduces the carbon footprint of your home and creates a healthier living environment.

4. Install energy-efficient appliances and lighting

Energy-efficient appliances and lighting fixtures can significantly reduce your home’s energy consumption. Look for appliances with an ENERGY STAR® label, as they meet strict efficiency standards. LED lighting is another excellent choice, as it consumes less electricity compared to traditional incandescent bulbs.

5. Consider renewable energy systems

Integrating renewable energy systems into your home is a proactive step toward energy independence. These include solar panels, wind turbines or geothermal systems that generate clean energy while reducing your reliance on the grid. Generating electricity sustainably will pay off for many years to come.

6. Water conservation strategies

Conserving water is an essential part of building an energy-efficient home. Install low-flow fixtures to reduce water consumption without sacrificing performance. Implementing water conservation strategies will save water while also reducing the energy required for water treatment and distribution.

Use the tips outlined here to build a home that has a lower carbon output and saves you money for years to come.

How Can I Beat Inflation and Save on Back-to-School Shopping?

Q: How can I beat inflation and save on back-to-school shopping?

A: Lucky for you, there are ways to save on back-to-school shopping. Follow these tips.

Shop with a budget

Determine how much you can afford to spend and set specific amounts for different categories such as clothing and supplies. Having a budget will help you stay focused and avoid impulse purchases.

Take inventory

Before hitting the stores, inventory what you already have at home. Check your kids’ closets, drawers and study areas for supplies and clothing that can be reused or repurposed for the coming school year. This will give you a clear idea of what you really need to buy.

Plan ahead

Start shopping early and take advantage of sales throughout the summer. Watch for clearance sales, promotions and discounts. By planning ahead, you can secure better deals and avoid the rush and price hikes closer to the start of the school year.

Buy generic

Don’t hesitate to reach for generic brands when purchasing school supplies for your kids. Store brands, like Walmart, or Target’s Up & Up, are usually cheaper than name brands without compromising on quality.

Shop without your kids

Shopping with kids is an easy budget-killer. Kids have their own ideas of what’s best to spend money on, and their opinions may not align with your budget. Leave your kids home for at least some of your shopping trips this season.

Think secondhand

Consider purchasing used textbooks, clothing and electronics. You can find gently used items at much lower prices on secondhand websites like ThredUp, and at thrift stores like Goodwill.

Use discounts and coupons

Before you shop, look for coupons, promotional codes and student discounts to bring down the prices of the items you need to buy. You can sign up for loyalty programs and use a discount-finder app or extension to pull up any coupons for the items you need.

Buy in bulk

Whenever appropriate, buy supplies in bulk. This is useful for items that are commonly used throughout the school year. Buying in bulk often comes with a lower per-unit cost, providing long-term savings.

Follow the tips outlined here to beat inflation and save on back-to-school shopping.

Money Tips for College Students

Hello, college, hello, money worries!

College life brings a sense of independence that extends to personal finances. Being in charge of your own money can seem like an impossible challenge, but it doesn’t have to be that way. If the thought of managing your money in college is stressing you out, dig into these tips for some help!

Create a budget

Living with a budget is a must for good financial wellness. First, track your income, including all earnings from part-time jobs, scholarships and student loans. Next, list your expenses, including tuition fees, textbooks, rent, groceries, transportation and entertainment. Set a realistic spending amount for each category, and your budget is good to go! Review and adjust as necessary.

Minimize student loan debt

Student loans can be a big financial burden after graduation. To minimize your debt, explore options such as scholarships, grants and part-time jobs to cover educational expenses. You can also get ahead on your debt by saving for your student loan payments before you graduate.

Live frugally

You can have your fun while in college, and your budget, too! First, buy used when possible. This goes for textbooks, sports equipment and your college car. Next, consider pooling some of your expenses with roommates. For example, you can split the costs of food items, cleaning supplies and more. Finally, get used to eating in and save big. Remember, every dollar saved can go toward your future.

Prioritize essential expenses

Life while in college is filled with temptations and social activities, so it’s crucial to prioritize your expenses. First, make sure your tuition, rent, utilities and groceries are covered and then you can spend money on fun! Having a good budget developed, and a regular review of it, will help you plan in some of that fun.

Build your credit

College is a great time to get your credit score ready for adult life. A strong credit score is essential for qualifying for large loans, getting favorable interest rates, securing a job and more. To build credit responsibly, consider getting a secured credit card or becoming an authorized user on a family member’s credit card. Use the card sparingly and make full payments on time each month.

Take advantage of campus resources

College campuses often provide many resources to help students manage finances. Take advantage of financial literacy workshops, counseling services and career centers at your college.

Use these tips to manage your money smartly in college.

How to use Appliances Efficiently

Did you know that appliances account for approximately 13% of your home’s energy use? The good news is, you don’t have to completely pull the plug to save on your energy costs. Here’s how to use your appliances more efficiently to reduce your energy use and do one for the environment.

Choose energy-efficient appliances

When purchasing new appliances, choose models with high energy efficiency ratings. Look for the ENERGY STAR label, which indicates that the appliance meets strict energy efficiency standards.

Follow the user manuals

User manuals provide valuable information about the optimal usage and maintenance of appliances. Take the time to read the manuals thoroughly, as they offer specific instructions on how to maximize efficiency and extend the lifespan of each appliance.

Use appliances smartly

Take full advantage of any automatic settings on your appliances to use them more efficiently. For example, you can set your HVAC system to adjust its temperature when no one’s home or everyone is asleep.

Saving on energy around the house

Follow these tips to use appliances more efficiently around the house:

Computer

Choose “sleep” over “screen save” to use less energy when away from your computer.
Consider switching from a desktop PC to a laptop, as these use 10% of the electricity.
Turn off your monitor when it’s not in use.
Think three times before you print.

Oven/range

Match up your pots to your burner size
Cook with aluminum pans for even heat conduction.
Keep range-top burners clean for better reflection of heat and saved energy.

Refrigerator/freezer

Keep your thermostats at the recommended settings.
Position your refrigerator away from a heat source.
Clean the condenser coils of refrigerators and freezers regularly.

Dishwasher

Only run full loads.
Avoid pre-rinsing dirty dishes unless absolutely necessary.
During warmer times of the year, run the dishwasher in the early morning or evenings, when it’s cooler out.

Washer/dryer

Wash with cold water as much as possible.
Keep the lint filter clean for quicker dry times.
Make sure your dryer is vented properly.

Air conditioner

Cook less when it’s hot out.
Set your thermostat to adjust automatically.
Clean or replace your filters regularly to maintain proper airflow.

Use these tips to use your appliances more efficiently and save on energy usage and total costs.

Olean Area Federal Credit Union Announces New Name: High Point Federal Credit Union!

Olean Area Federal Credit Union, the second largest credit union in Western New York, has announced a name change to High Point Federal Credit Union. By changing its name, the credit union is demonstrating its ongoing commitment to growth and to its mission to provide members personal service and affordable products that meet their financial needs throughout life’s journey. The High Point brand, including a new logo, tagline, and visual identity, launched August 1st. The change in brand does not reflect a change in ownership and will remain 100 percent member owned and headquartered in Olean, NY.

A site has been found for the credit union’s first site outside Allegany County, aiming to serve the Bradford community. “We’re under contract, and we hope to close this year,” Rich Yeager, President and CEO said, with construction expected to begin in the spring.

Olean Area FCU has grown throughout its 50 years of service, beginning in 1972 as Olean Dresser Clark Federal Credit Union, serving the employees of Dresser Clark. Today, they have evolved and expanded their service to anyone who lives, works, worships, or attends school in Allegany and Cattaraugus Counties, NY, and McKean and Potter Counties, PA.

Although the name change took effect on August 1st, services for members will not change. Members will continue to access account information and their normal products and services in the same way they always have. All existing account numbers, card products, and checks will continue to work as before. Member’s will be required to update their Digital Banking App, but all credentials and navigation will stay the same. All credit and debit cards will still work as they should until new cards are reissued during the first quarter of 2024.

President and CEO, Rich Yeager stated, “Although our brand name changed, our core values and commitment to our members remain the same. In fact, it’s even stronger. Our mission continues to be to provide optimal financial services at every stage of your life, always striving for your success. We are excited for the next chapter of our journey and are grateful for our members’ and communities’ support!”

The credit union’s purpose to provide personal service and affordable products will remain the top priority throughout this transition and beyond. Members will start to see communications, updated materials, and additional operational information in the coming weeks as the name change takes effect.