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MEMBER PROFILE
Ted Bronsnick
Ted Bronsnick, who takes pride in being one of Alternatives first members, came in for an auto loan. “I did check with other lenders,” he told Consumer Loan officer Amy Smith, “but I decided to get my loan at Alternatives. A few other places had rates that were a bit lower, but Alternatives, in an effort to be competitive, was willing to lowers their rate by .75%. I felt my relationship with the Credit Union was reason enough to support what they do by getting my loan with them.”
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Livable Wage Study - May 1998 study
The new livable wage study, (originally done in
1994 and updated in 1996) shows the livable wage for an individual in Tompkins
County is $16,500/year. This year's study is different than previous studies:
Utilities and garbage are included in rent, one figure is given for transportation,
rather than with and without a car, payroll, federal and state income taxes
are included, and the bottom line figure supports the employee only. To support
a dependent, rent would increase to $678/month, food and health care would almost
double, and Child Care would range from $4432 per year in family day care to
$7800/year for infant care at a Child Care Center.
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Category
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Month
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Year
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Source/Comments
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Rent
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$477.00
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$5,724.00
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Housing Solutions (includes
gas, electric, garbage.) |
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Transportation
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$100.00
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$1,200.00
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Rent reflects in-town.
Out of town transportation costs are higher, but rents lower. |
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Food
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$157.33
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$1,888.00
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Dept. Social Services,
Food Stamp division, Low cost plan. |
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Telephone
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$28.76
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$345.12
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Bell Atlantic |
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Health Care
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$70.00
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$840.00
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Health insurance premium
(75% paid by employer) + $300 additional for co-pay, dental and other uncovered
medical expenses |
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Recreation/Entertainment
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$106.66
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$1,280.00
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Vacation, movies, cable,
sports, books, magazines, etc. |
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Savings
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$50.00
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$600.00
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Misc.
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$130.00
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$1,560.00
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Household goods, clothing,
laundry, sales tax, furniture, appliances, garden supplies, etc. |
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Payroll tax
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$105.19
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$1,262.25
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7.65% |
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Federal tax
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$121.25
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$1,455.00
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Income minus $6800 x
15% |
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State tax
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$30.00
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$360.00
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Income minus $7500 x
4% |
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TOTALS
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$1,376.19
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$16,514.37
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$9.07@35; $8.76@36.25;
$8.47@37.5; $7.94/hr @40/hrs/wk |
Thanks to Yat-She Shum, an intern from
the School of Industrial and Labor Relations at Cornell University for collecting
the data used in this study. For copies or information, contact Leni Hochman,
lhochman@alteratives.org; (607)273-3582 ext. 818.
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built by Cyrus
