www.ingersollrandfcu.com • E-Mail: irfcu@stny.rr.com

Vol. 1, No. 140

March 31, 2010

Office Hours: Monday - Wednesday - 8 AM to 5 PM Thursday - Friday - 8 AM to 5:30 PM

Letter from CEO

Dear Members:

Your Credit Union’s performance in 2009 was exceptional when compared to its asset-size based peers. The growth and stability strategies implemented before the downturn that focused conservative, planned and controlled growth, has increased undivided earnings along with assets, and has decreased expected loan losses. Without this type of financial strategy, we might have experienced income statement losses instead of gains.

With this said, we are thankful and appreciative of the Memberships’ loyalty and support of these strategic initiatives that have worked and are currently working to make your Credit Union strong today and in the future. Without your patience during this business model change, the results would not have been as markedly positive. I thank the Membership for ‘riding out the storm’ with us. It has paid to be patient.

Our 49th Annual Meeting and Dinner will be again held at the Best Western Grand Victorian Inn in Sayre on April 17th. This is a great evening of good food and friends, and I will provide more detail on how your Credit Union performed in 2009, and what is in store for the short and medium range future. We look forward to seeing the many Members that make this an annual outing, and are excited to share the results of the past year and the outlook for the future.

Lastly, I strongly encourage the Membership to consider our low rate environment for their borrowing needs. With our growth in assets due to our safety and stability, we have money to lend. If you are in the market for a mortgage, a different vehicle, or need improvements to your home, we are here to help. Also, if you are like many of our Members that experienced a ‘high jacking’ of their credit card rates, we are here for your loan needs. Stop by today to talk with us about how we can help you reach your financial goals and keep more of your money in your pocket.

Enjoy the Spring!

Sincerely,

Michael A. Viselli

Chief Executive Officer

NEW BOARD OF DIRECTOR

Thomas Mitchell has been the General Manager of O’Brien’s Inn in Waverly, NY since 1999. It was then that he and his family purchased the Inn. His responsibilities encompass every aspect of the day-to-day operations of the twenty-four unit hotel, adjoining lounge and banquet facility.

Prior to his position at O’Brien’s Inn, he completed undergraduate studies at Lock Haven University of Pennsylvania. He received his BA in Sociology/Criminal Justice following a Pre-Law Program. Tom played four seasons of collegiate ice hockey. During this time he was also elected as a Pennsylvania State Constable and served a complete six-year term for Bradford County, PA. Tom is a licensed Pennsylvania State auto dealer operating in Sayre, PA. (20519)

Tom resides in Sayre, PA., with his wife, Whitney, a Physical Therapist and newborn daughter, Emilia. He is a member of The Sons of Italy Roma Madre Lodge in Sayre, PA. Tom is looking forward to furthering his Credit Union education and serving as an active Board Member. He can be contacted at t_mitchell@hotmail.com.

2^nd QUARTER 2010 DIVIDENDS

The Board of Directors of Ingersoll-Rand Federal Credit Union has declared the 2^nd Quarter 2010 Dividends as follows:

RATE APY

Share (Savings) Account 0.75% 0.75%

Christmas Club 0.75% 0.75%

Escrow/All-Purpose Account 0.75% 0.75%

Certificate Rates and Terms are available upon request or you may go to our website – www.ingersollrandfcu.com – for more information.

10% INTEREST REFUND

The Board of Directors of Ingersoll-Rand Federal Credit Union has declared a 10% Interest Refund for the 1st Quarter 2010. If your loan was up-to-date on March 31, 2010, you received 10% of the interest you paid on your loan in the 1st Quarter 2010 deposited to your Share (Savings) Account on March 31, 2010. Interest paid on VISA Credit Cards, Home Equity and Vehicle Loan Specials, Signature (Personal) Loans, and any loans (13157) granted from February 1, 2006 forward, and all previous BCEFCU loans are excluded from the Interest Refund. Check your enclosed statement to see if you received the 10% Interest Refund.

$$$ IT PAYS TO READ THE CHIT CHAT $$$

There are two Member Account Numbers hidden in this quarterly newsletter. If you find your Account Number, call or stop in the Credit Union Office and Ingersoll-Rand Federal Credit Union will deposit $25.00 into your Share (Savings) Account. But hurry! The deadline to collect the $25.00 is April 30, 2010!

2010 ANNUAL MEETING

The Ingersoll-Rand Federal Credit Union’s 49th Annual Meeting will be held on Saturday, April 17, 2010 at the Best Western Grand Victorian Inn in Sayre, PA. Dinner tickets are available for sale at the Credit Union Office. Tickets are not needed to attend the Business Meeting only. Deadline for ticket purchase is April 9, 2010.

There is one opening on the Board of Directors and one opening on the Credit Committee. If you are interested in running for the Board of Directors or Credit Committee, please contact the Credit Union Office for more information. Plan on attending the Annual Meeting to learn the progress your Credit Union has made during the past year. As a Member of Ingersoll-Rand Federal Credit Union, you have the opportunity to vote for the Officers who determine the policies of the Credit Union. Participate in the democratic process and attend your Annual Meeting.

5-STAR INGERSOLL-RAND FEDERAL CREDIT UNION

A VITAL PART OF MEMBERS LIVES

It is with great pride that Ingersoll-Rand Federal Credit Union accepts its distinguished 5-Star Superior rating from BAUERFINANCIAL, INC. The 5-Star Rating is based on the overall financial condition of the Credit Union and indicates that, for strength and stability, Ingersoll-Rand Federal Credit Union is a great place to entrust your deposits.

“Anyone who has an account at a credit union understands the value they provide,” comments Karen L. Dorway, President of BAUERFINANCIAL. “What they may not know, however, is that not all credit unions are equally strong. Ingersoll-Rand Federal Credit Union has passed BAUERFINANCIAL’s stringent stress test with flying colors. Not only is it a vital part of its Members’ lives, it is a prime example of what all credit unions should strive for.”

Ingersoll-Rand Federal Credit Union: “United We Stand – America’s Credit Unions.”

RETIRING BOARD OF DIRECTOR

It is with deep regret that Ingersoll-Rand Federal Credit Union’s Board of Directors accepted the resignation of Barbara A. Brooks as Board Secretary. Barbara was a valuable asset to the Board and will be greatly missed. She held this position for the past fourteen (14) plus years. We wish her all the best as she enjoys her retirement.