We are keeping a close eye on the "Heartbleed" bug you may have heard about. The vendor we use for Online Banking has completed a preliminary assessment and has not discovered any vulnerability. We will be sure to keep you updated should anything to the contrary be discovered. Rest assured that we are doing everything we can to help ensure that your information is safe.

It is always a good practice to use unique passwords for all of the online services you access. If your GCF Online Banking password has also been used with a different service, we do recommend that you change your Online Banking password at this time.

If you currently utilize GCF’s online banking EXPRESS TRANSFER function to make your loan payments, this service will be temporarily unavailable from April 25, 2014 through June 9, 2014. As an alternative to this temporary inconvenience, you can do one of the following:

  • Contact 1-877-589-6600 ext. 320 or 368 between the hours of 9:00 a.m. and 5:00 p.m., Monday through Friday, to manually complete the transaction.
  • Mail a check to Investors Bank, 101 Wood Avenue South, Iselin, NJ 08830.
  • Sign up for GCF’s online bill payment system and set up a monthly payment to be sent to Investors Bank.

Fast Access

GCF Bank is now part of the Investors Bank family!

Tuesday, December 7, 2010

Edition #588

Today's Highlights:

Past issues of GCFlash:

November 30, 2010 Edition #587

November 23, 2010 Edition #586

November 16, 2010 Edition #585

November 9, 2010 Edition #584

Looking for articles from a past issue of GCFlash not listed above? Find them in our Knowledge Base!

Weekly Spotlight:

Drop off a new, unwrapped toy, book or educational toy at any GCF Branch until December 10th for Toys for Tots. Toys for Tots also welcomes checks, made payable to "Toys for Tots", to purchase toys for needy children.

Our Current Rates:

For a listing of our current deposit and loan rates,click here.

Today's National Market Rates
December 7, 2010 6 Mo Ago
1 Yr Ago
5 Yrs Ago
Dow Jones Industrial Average 11,359.16 (-0.03%)
(Up 931.11 or 8.93% since 12/31/09)
9,816.49 10,390.11 10,810.91
S&P 500 1,223.75 (+0.05%)
(Up 108.65 or 9.74% since 12/31/09)
1,050.47 1,103.25 1,257.37
NASDAQ 2,598.49 (+0.14%)
(Up 329.34 or 14.51% since 12/31/08)
2,173.90 2,189.61 2,252.01
10 Year Treasury Bond Yield 3.12% 3.18% 3.45% 4.52%
British Sterling 1.5768 1.4457 1.6472 1.7340
Euro 1.3286 1.1970 1.4846 1.1726

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1st Flash

For Every Job There Is a Season

Despite a strengthening economy, the unemployment rate refuses to budge. There percentage of Americans collecting unemployment benefits remains at 9.3. Factor in those who are underemployed, whose benefits ran out or have just given up hope of ever finding a job and that number doubles.

The workplace is an ever-changing environment. In the short history of American labor, we've gone from being an agricultural society to an industrial producer to an information manager. Jobs in one field are lost forever, to be replaced with more modern requirements.

When was the last time you saw a job listing for an insurance underwriter? Software allows one person to do the manual underwriting that previously took three. Programs grade applicants based on data punched into the system. It doesn't require much human intervention.

When you booked your last vacation, you called a travel agent, right? Not very likely. Online sites have taken their place.

Newspaper journalism was once a respected profession. A good investigative journalist could sniff out a story and bring evildoers to the public eye. There was competition in the print room as to which local paper would be the first to break a big story. The Internet has changed all of that. The entire newspaper industry is fighting for survival.

The same holds true with sports writers. There will always be a handful that cover news for a particular team. But most sports news today is shared through blogs. Wannabe sports writers that contribute merely to share their own insights. The best are picked up on the wires and appear on multiple web sites.

The end of the industrial age signals an end to plant managers. In fact, managers in several industries are facing a decline. Blame automation and outsourcing.

While management is shrinking, administration and support staff are starting to grow. Companies are starting to recover. And must rebound from the skeleton staffs they had whittled down to in order to do so.

The healthcare industry never did experience a downturn. They've added 942,000 new jobs since 2007 with more to come as the new healthcare act is implemented.

Service industries are starting to rebound. Restaurants, retail and hotels have all added jobs in 2010.

Public transportation is popular with environmental concerns. And it's cheaper when money is tight. Bus drivers, mechanics and the supporting fields are seeing an upswing.

While the Internet has killed the newspaper industry, it has created more jobs than it's responsible for eliminating. Search engines, portals and web publishing are just a few areas seeing explosive growth.

What happens to a laid-off manager? They often turn to consulting. When companies aren't hiring, innovative workers pave their own path. By spreading their talents among several employers, they can actually earn more money than they did when they were employed. And the companies save as well, by only paying for the services they need rather than the costs of a full-time employee.

Occupations lost will not return. One must remain alert to new options as they become available to earn a sustainable living. Be open to new ideas. You may surprise even yourself when you take that leap into a new beginning.

On The World Wide Web

Hear the newscast report of the attack on Pearl Harbor. Listen to President Roosevelt's famous "Day of Infamy" speech. Get the historical facts of the events at Pearl Harbor and read eyewitness accounts at

Connect with lost friends from World War II. Enter your information, search for others at this site.

Money is tight for everyone this shopping season. Which companies truly care about consumers and which are only interested in lining their own pockets? did the research and reports their findings here.

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2nd Flash


The day began like any other. It ended in infamy. The next morning found the United States at war with Japan. That calm, Sunday morning changed the course of history.

Over 3,500 Americans were killed or wounded during the two-hour siege. Roughly the same number lost in the terrorist attacks of September 11, 2001.

All eight battleships of the U.S. Pacific Fleet were sunk or badly damaged, 350 aircraft were destroyed. All of America's aircraft carriers escaped damage.

The world was in conflict in 1940. While the Soviets sought control of the European nations, Japan wanted to dominate Southeast Asia. Their first conquest was northern French Indochina.

The U.S. placed an embargo on Japan for their actions, prohibiting exports of steel, scrap iron and aviation fuel.

Undaunted, Japan continued their quest moving further south into Indochina. But fear of attack from the U.S. or Britain brought them into allegiance with the Soviet Union. The two countries signed a neutrality treaty in April 1941.

Japan would not retreat from the areas they now occupied. In July 1941, the U.S., Britain and the Netherlands froze Japanese assets. They would not be able to buy the oil to keep their army, navy and air force mobile for much longer.

The wars raged on around the world as 1941 drew to a close. As the Soviets appeared near defeat, Japan pressed onward to try to take the oil resources of Southeast Asia.

The U.S. wanted to stop them, but not badly enough to go to war. They demanded that Japan withdraw from China and Indochina and hoped for a compromise.

Japan refused to retreat. They wanted the embargo lifted, but on their own terms. And they were prepared for war if need be.

They continued to press forward with plans to take Burma, Malaya, the East Indies and the Philippines along with building a defensive perimeter in the central and southwest Pacific. The only thing that stood in their way was the U.S. Pacific Fleet based in Pearl Harbor.

Private Joseph McDonald was manning his shift at the Information Center where information was collected from the five radar sites on Oahu. The people had been on alert for a few weeks, rumors circulated that the Japanese Navy could not be found. The alert was cancelled just before December 7th.

Just after 7:00 AM, a call came through from one of the radar stations. A large number of planes were spotted coming in from the north. Pvt. McDonald relayed the information to a nearby Lieutenant who shrugged it off as a flight from the U.S.

A second, more frantic call came in from the same station shortly after. The planes were coming in fast heading towards Oahu. Once again, the Lieutenant thought it nothing to worry about.

Within minutes, the drone of planes could be heard. They flew in single file. The lead plane dove with the rest following in suit. The roar of explosions and black smoke filled the air.

An estimated 4000 Pearl Harbor survivors are still alive today. We can learn much from their stories. For as Samuel Adams once said: "A people who forget history are doomed to repeat it."

Tip of the Week

Teens and tweens are growing targets of online scams. They can't resist the offer for free stuff in exchange for watching videos and filling out surveys. Warn your children about providing personal information online. Any malware they download will scam you, too, next time you use the computer. Check out whether a site is legitimate or fraudulent before doing business at

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Financial News

The big news is, of course, the extension of the Bush-era income tax cuts for another year and extension of unemployment benefits for another 13 months. This will pump additional money into the hands of taxpayers, boosting the economy. The risk, without cutting spending, is that we will be paying for these cuts for years. However, the thinking is to pay for today after we see a healthier economy. The cuts were extended across the board regardless of income bracket. The concern that there would be a flurry of stocks sold to capture capital gains at lower rates has now been deferred to a future date.

A reduction in the employee portion of payroll tax from 6.2 percent to 4.2 percent will take the place of the $400 Make Work Pay credit from the 2009 bill. It phases out for those earning more than $75,000. The tax rates will remain where they are, with no change for the higher tax brackets.

The estate tax was set to revert to 2001 rules, with a maximum rate of 55 percent for estates over $1 million. Instead, the estate tax is now a maximum of 35 percent on estates over $5 million. For those that should be estate planning, this is not permanent law, but an extension.

So any planning for higher rates can be postponed to 2011. But, that is only a year away! If the rates are increased at the end of next year, taxpayers may be caught short owing the tax bill!


"America was established not to create wealth but to realize a vision - to discover and maintain liberty among men. If she is going to put her material process above her spiritual process, then all I have to say is that she has ceased to be America." - Woodrow Wilson

Today in History

1972 - The crew of Apollo 17, the last manned mission to the moon, lifts off at Cape Canaveral, Florida.

Flash Fact

American astronauts have been to the moon six times.

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GCFlash is a weekly e-mail sent only to its listed customers and associates free of charge. GCFlash informs customers of special product offerings which may be of interest, current interest rates on both deposit and loan products, selected financial news and other financial tidbits. GCFlash is intended to supplement the more comprehensive information listed on the GCF Web site at

For more comprehensive information, visit our Web site at or call (856) 589-6600 Ext: 337 (Timothy P. Hand)


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GCF maintains your e-mail address in a confidential and secure database along with much of your other account information, such as mailing address and telephone number, etc. Before aggregating our e-mailing list each week, we filter out any duplicates. In most cases, this inhibits the unintended e-mailing of multiple copies of GCFlash to a single e-mail address. However, because these account records are kept by both individual and account, there is a chance members of the same household could each receive a copy of GCFlash or any other transmission at the same e- mail address - resulting in multiple copies. For example, a husband and wife that both have accounts with GCF may both receive a copy because the names are different but listed at the same e-mail address. This is similar to the manner in which each individual may share a common telephone number. To handle this situation, GCF recommends you simply delete any extra copies of GCFlash as this will ensure that ALL individuals receive any future promotional mailings, which might only be targeted or offered to specific accountholders meeting certain criteria. GCF has the capability to suppress customer e-mail addresses so they are omitted from our transmission list. If you would rather have a specific household member’s e-mail address suppressed in our electronic database, simply send us a reply, as stated below, and indicate the accountholder for which you would like to have e-mail suppressed. Please keep in mind that this suppression will mean that NO future e-mails are sent, including special promotional offers. If you have any questions about this process or need additional information, please contact us at

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GCF Bank
381 Egg Harbor Road
Sewell, NJ 08080
(856) 589-6600