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A Message From the CEO
It was an honor to be a part of the National FOP's 63rd Biennial Conference & Expo in Nashville last month. We had a chance to speak with many FOP members about the credit union and heard many positive comments about their experiences with the credit union.
One of the biggest compliments we can receive is when a happy member tells another law enforcement officer about their positive experiences with the credit union. Police trust other officers' opinions. One of the best ways you can help the credit union is by spreading the word. Whether it is our great rates, exceptional service, police focus, or some product or service we offer, let others know about the benefits they receive by being a member of National Police Credit Union! You may also be helping them to save money in the process.
As always, thank you for your continued loyalty and support!
Stay safe,
Jim Bedinger
Division President
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Member Appreciation Promotions
National Police Credit Union understands that you have many choices when it comes to selecting a financial institution, and we hope you know how much we appreciate your business.
Throughout the year we offer a number of limited-time-only Member Appreciation promotions designed to provide you with extra-special savings or loan opportunities built around our already-competitive rates. This month we are pleased to offer two promotions, which start today, October 1:
Place Your Money In Our Custody!
For a limited-time-only, we are offering a
100-day Share Certificate with a 1.00% APR*/APY*, which is available only for new deposits.
This promotion runs from October 1 through December 1, 2017.
To apply for the Member Appreciation Share Certificate, please
*APR = Annual Percentage Rate. **APY = Annual Percentage Yield.
Comparatively speaking, our current 6-month Share Certificate yields a 0.19% APR/APY, and our current 36-month Share Certificate yields a 0.94% APR/APY. There is a minimum deposit of $2,500. Early withdrawal and other restrictions apply.
Don't Be Handcuffed By Your Current Mortgage Rate!
Here's the key! Refinance your existing mortgage on your primary residence (currently with
another institution) with us and we will beat your rate! To apply, members must have a first mortgage with a minimum loan balance of $50,000.
What you will receive:
- A better rate* than your existing mortgage
- Waiver of all third party closing costs and underwriting fees
- Access to a 15-month share certificate at 2.25% APR**/ 2.269% APY***
This promotion runs from October 1 through December 31, 2017.
To apply for the Member Appreciation Mortgage Promotion, please
Email John Gordon or call 312.252.9433.
*Certain restrictions apply. **APR = Annual Percentage Rate. ***APY = Annual Percentage Yield.
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Skip-A-Pay is Back!
October 2 - November 22
The holiday season is almost here and National Police Credit Union is tracking down some extra cash for our members!
We know that holiday expenses can add up, and
Skip-A-Pay
is the perfect way to have some extra cash right when you need it!
If your application is approved*, you will have the opportunity to skip your December loan payments. There is a $30 fee per loan
.
Please note that you will need to apply for each loan individually.
The following loans are not eligible for Skip-A-Pay: Home Equity, Homeowner Loans, Mortgages, Visa, Overdraft Protection, 10-1, Student, Tuition, Credit Builder, and Member Business Loans. Any loan with an original term of 12 months or less is ineligible. If an approved loan is refinanced before the payment is skipped, the new loan will not be eligible for the promotion.
Only the December 2017 loan payment may be skipped. The finance charge on your loan will continue to accrue and the term of your loan will be extended by one month.
Please note that applications will only be accepted online.
To apply for Skip-A-Pay, please click
here.
If you have questions, please contact the Call Center at 844.COP.SAVE, and press Option 1.
*Additional restrictions may apply.
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Attention Visa Credit and Debit Cardholders!
We have heard your feedback and we are undergoing a Visa credit and debit card conversion!
Our new EMV, chip-enabled Visa Cards
will have an enhanced design and new card number as well as added security features, automated fraud alerts, online travel notifications, improved rewards program, and various digital wallet offerings, such as Apple Pay and Android Pay.
In addition, you will be pleased to
know
that all the special extras that our members love are still in place, including Online banking and mobile app capabilities, exceptionally low non-variable rates, no annual fees, Visa Purchase Alerts, and a 25-day interest-free grace period for purchases!
Important Dates
Your current (soon to be old) National Police Credit Union Visa credit card will stop working on October 7, at 11:59 p.m. CST, and your new National Police Visa credit card will be in effect October 8, at 12 a.m. CST.
Your current (soon to be old) National Police Credit Union Visa debit card will stop working on October 24, at 11:59 p.m. CST, and your new National Police Visa debit card will be in effect October 25, at 12 a.m. CST.
All Visa credit and debit cardholders have already or will receive their new Visa cards and detailed instructions for new card activation well in advance of the conversion dates.
Things to Keep in Mind
Recurring Charges:
If you have any pre-authorized or recurring debits (health club, insurance, subscriptions services, cable, utilities, etc.) linked to your current (soon to be old) Visa credit or debit card, you will need to update those merchants with your new card number.
Credit Card Payment Due Date: With the change to a new processor comes a new "Payment Due Date," which is based off of your current schedule: If your current due date is on the 1st of the month, there is no change;
if your due date is on the 10th, your new due date will now be the 11th; if your due date is on the 21st, there is no change; and if your due date is on the 26th, your new due date will now be the 27th.
Important Link
Again, please note that
there will be no interruption of use to either your Visa credit or debit card before or during the process.
You may continue to use your existing cards through 11:59 p.m. CST the day before the new cards go in effect, and the new cards will be ready to activate and use one
minute
later.
If you have any questions immediately following the
activation
period of
either
card, please call 855.887.9759 for credit card support or 866.820.4852 for debit card support; a representative will be able to assist you 24/7.
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Mortgage Down Payment Made Easy
If you have yet to begin searching for your dream home because you don't think you have enough money for a down payment, think again! In the last several years, both Fannie Mae and Freddie Mac have made it easier to afford the home of your dreams. How, you ask? The two biggest areas of improvement have been in the lowering of the down payment threshold, and drastically reducing private mortgage insurance rates.
In the past several years both Fannie and Freddie have reduced the minimum down payment from 5% of the purchase price to 3%, making the amount necessary to buy a home much cheaper. Combine this reduced amount with the lender's desire to offer discounted closing costs, and you now have a substantial reduction in the required funds to buy. A simple example of this impact is to take a $200,000 purchase price and factor a 2% down payment savings (going from a 5% to 3% down payment) along with a $1,000 lender credit towards closing costs and you now have a $5,000 savings from the traditional 5% down payment loan scenario with no lender credit. As one can see, these reductions have an immediate impact on the amount of money required for the transaction.
Everyone by now probably knows about PMI, or private mortgage insurance; this is a requirement for anyone who puts less than a 20% down payment on their home purchase. In the old days, one would have to put the full 20% down in order to qualify. Then, in the 1990's, private mortgage insurance was introduced to the masses, with a borrower being able to put as little as 5% down, but with a high monthly cost to do so. PMI rates determine the added amount to a mortgage payment and is a risk "pass through" to the borrower, which ultimately increases a borrower's mortgage payment. Nowadays, thanks to more competitive pricing and efficient risk analysis, these rates have been cut in half, making the payments significantly cheaper. An example would be to take a $100,000 loan amount and compare the old PMI rate to the new on a monthly basis. The old rate used to be over 1% (1.05 to be specific); the new rates are as low as .45%, over half reduced. The payment per month goes from $87.50 down to $37.50, which is a modest savings.
These are just two of several changes that have been implemented recently about which you many not have heard. To learn more home buying tips and strategies, contact John Aretos or Kristen Kulinczenko at 844.COP.SAVE, or click
here to send us an email.
This article was written by John Aretos, CEO, First Chicago Mortgage Services (FCMS). A wholly owned subsidiary of the credit union, FCMS specializes in working with First Responders, Active Reservists and Veterans, as well as Municipal Employees. For more information, please
click here.
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Cyberspace: How Secure is Your Online Information?
By Debbie Zielinski,
Director of Information Technology and Training,
National Police Credit Union
National Police Credit Union takes the security of your information very seriously. We encourage you to do the same. Following are recommendations for setting up and improving your own personal
cyber security.
Setup a "secret word" for all of your investment accounts. When confirmed, anyone accessing your accounts to initiate changes or transfers will be required to provide the secret word before proceeding.
Enable a two-factor authentication (2FA) for all of your personal financial and email account web sites.
Email is particularly important to secure as it acts as a gateway to all of your other accounts. Once fraudsters gain access to an individual's personal email account they often initiate change password actions for that person's financial account web pages. As most new passwords are being sent by email, the fraudster simply reads the email to gain access to financial information. By implementing a 2FA on your email and all of your financial web sites, you protect against this common type of attack. The following link provides instructions on how to enable 2FA for most common email and financial web sites:
https://www.turnon2fa.com/tutorials/.
Ensure that your home computers have the most recent patches installed. The links below provide instructions for how to patch your systems:
Perform regular virus scans on your home computer.
Before disposing of any personal records, destroy them with a cross-cut shredder.
Consider placing a credit freeze on your files. A credit freeze makes it harder for someone to open a new account in your name. However, keep in mind that a credit freeze may not prevent a thief from making charges to your existing accounts.
Monitor your existing credit card and bank accounts closely for charges you do not recognize. If you decide against a credit freeze, consider placing a fraud alert on your files. A fraud alert warns creditors that you may be an identity theft victim and that they should verify that anyone seeking credit in your name really is you. Please review the following links for additional information on a credit freeze:
Download your credit report for free every 12 months and review it manually for abnormalities (errors and/or fraud). Please review the following link for additional information on credit reports:
https://www.annualcreditreport.com/index.action.
There is a lot to love about the world wide web, and it is most definitely a gateway to an abundance of information. Just be sure to protect yourself so that the web does not become a gateway to your personal information.
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Five Reasons To Check Out Our Free Credit Counseling Program
- We can help you obtain and review your credit report. It is imperative to know what is in your report prior to purchasing an auto, securing a mortgage or even opening a new credit card. Loan rates are determined by your credit score.
- Even if you are already in a credit monitoring service, we can help you understand the details of your report. We can break down and explain each of the components to help you gain greater insight into your spending habits.
- We can help you improve or even rebuild your credit through our hands-on consultation and array of professional products at our disposal.
- We can help you design a strong financial plan based on your own lifestyle and budgetary needs. This will help catapult you on the road towards financial freedom.
- We can do all of this and much, much more. Best of all, you will experience all of the gain and none of the pain, because our services are free for members of the credit union!
To schedule an appointment with Gwen, please call 844.COP.SAVE, ext. 8101, or email her by clicking here.
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Co-Op Shared Branch Network
National Police Credit Union members can conduct basic transactions at participating credit unions that are part of the Co-Op Shared Branch Network! This benefit is offered free of charge to members. When you visit a Shared Branch location, just tell them you are a member of National Police Credit Union, provide your account information, and start completing your transactions.
There are over 5,600 Shared Branch locations and nearly 29,000 fee-free ATMs located throughout the United States!
Wherever
you go, we are right there with you by your side, providing the financial backup you need and have come to trust!
Find a Shared Branch location or fee-free ATM by visiting our
website or clicking
here.
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Did You Know?
The credit union's 2016-17 annual
Christmas Savers program has just ended and the numbers are in:
1,703
members participated in the Account and they saved a whopping $
1,559,313.49
!
Don't fret if you missed out because a new cycle has just begun! The 2017-18 Christmas Savers program kicks off today and runs through September 30, 2018. Past "savers" are welcome to join again!
A Christmas Savers Account
allows you to deposit funds through payroll deduction into a special account that
pays you a higher interest rate than a regular, low-balance Savings Account. If you set a little aside each paycheck, it will add up in a hurry.
For more information, please click
here.
To sign up for Christmas Savers, please call 844.COP.SAVE.
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A Message From the Director of Lending
One of the greatest benefits of working for the credit union is also being a member. I consider it a privilege to be able to utilize National Police Credit Union as the primary financial institution for my family. Not only do I have confidence in the employees around me to provide excellent service, I am confident the lending rates offered at the credit union for basic necessities such as our home, car and every day expenses are as competitive, or, in most cases, far better than we could find elsewhere.
Too often it's easy to get caught up in what is affordable in the form of manageable monthly payments without considering the actual cost of the purchase. The perfect example for the illusion of cost is carrying high-interest credit card debt. With a low monthly payment, what may seem affordable can end up costing a fortune in interest over time. Your hard earned money is working hard, unfortunately for someone else. Taking advantage of the various credit union lending products can greatly reduce the interest you pay over time, allowing your money to get back to working for you.
With the rebound in the real estate market, this may be a great time to consider refinancing your mortgage to a shorter term at a more favorable rate with us or to potentially eliminate mortgage insurance with your current servicer. Our home equity loan may also be beneficial for a variety of purposes such as a home improvement project or to consolidate high-interest accounts. For smaller amounts, our signature loan and Visa products are great options to save considerably on the interest rates being charged by other financial institutions. Don't forget about your car; take a look at your interest rate and compare it to what the credit union can offer. The benefit of belonging to your credit union is you no longer need to overpay for everyday expenses.
Please contact our sales representatives to learn more about the ways we can help you save.
Sincerely,
Nick Gregor
Director of Lending
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National Police Credit Union Labor Day Raffle Winners
National Police Credit Union hosted its Second Annual Labor Day Raffle to win a $50 Visa gift card. We raffled off one $50 Visa gift card for every 10 qualified loans we received, so participants had a one in 10 chance of winning!
Congratulations to our Raffle Winners:
Mary L.;
Charles B.;
Phillip L.;
Ricardo S.;
Michael O.;
Jesus C.;
Amanda A.;
Erie C.;
John H.;
Peter D.;
Emelio C.;
Gerardo.;
Kimberly D.;
Angel R.;
Brian A.;
Latrona M.;
Demontae J.;
Ericka L.;
Jesenia A.;
Darrel J.;
Corne M.;
George K.;
Keith H.;
Jean-Pierre M.;
Silvia F.;
Joseph S.;
Jonathan S.;
Leon C.;
Pierre W.;
Michael B.;
Maria F.;
Juan M.;
Eric J.; and
Mark S.
On behalf of everyone at the credit union, it is our distinct pleasure to thank our members for continuing to turn to us for your lending needs.
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Regional Roll Call: Arizona
Last month National Police Credit Union opened our first Southwest Regional Business Office, which is centrally located in Tempe, Arizona.
This new Business Office continues our quest to offer the same value-added financial products, services and educational programs to law enforcement officers and their families across the country that we have been providing to police officers for 79 years!
Below is a quick list of important information regarding our new Business Office:
- This office is run by 11-year credit union veteran Vice President Kacey Smith, who is available for one-on-one meetings and presentations to lodges, law enforcement departments, organizations, and associations. Advance appointments are necessary.
- While the Business Office is not a full-service branch location, there are many beneficial ways in which we can work with you and your families, including opening accounts, helping you understand your credit report, or simply answering questions about your current accounts.
- If there are any products or services that our new Business Office does not accommodate, we will assist you as needed in coordinating the details with our full-service Call Center. In addition, there are 135 local shared branching locations and 255 fee-free ATM locations throughout the state of Arizona.
To schedule an appointment with Kacey at our Business Office, please call 844-COP-SAVE or send her an email at
[email protected]
. You may also contact Division President Jim Bedinger by calling 312.499.8810.
To learn more about Kacey, please peruse her bio at your
convenience.
In her own words, please read the following "Notes from Kacey" detailing her first few weeks in the Grand Canyon State:
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Notes From Kacey
Arizona! I've officially made your beautiful state my new home and it's been really exciting getting settled in. You all sure know how to make a girl feel welcome.
Thus far, I have had the pleasure of opening an account for a retired Scottsdale Sergeant and presented our offerings to the Mesa FOP. With such great restaurant recommendations and the confirmation that I will be driving against traffic each day, I couldn't be more pleased.
Did you know that once you open your account with National Police Credit Union you can utilize a Shared Branch in your area? This free-of-charge
program
allows you to visit credit union branches in the network to conduct
financial business. Just let them know you are a member of National Police Credit Union and immediately
start making deposits, withdrawals, loan payments, etc. All of this is seamless and instantaneous, just like if you were in one of our very own brick and mortar locations. It makes being an exclusive member that much more convenient. To find a branch near you, click this link and enter your zip code.
If you would like to make an appointment to come see me at our Tempe Business Office, call me at 844.COP.SAVE, or send an email to [email protected]. Otherwise, head to our
website
to learn more about our great low-rate loans,
exceptional
savings products, educational programs, and so much more.
I hope to see you soon!
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"Blue" Pride and Random Acts of Kindness
Individuals and businesses across the country continue coming together to show their appreciation and support of LEOs. While we promote as many of these as we can on our social media pages, the following are a few that deserve extra attention:
If you know of any random acts of kindness involving law enforcement, please keep us informed by emailing
[email protected]
. We look forward to hearing from you and sharing your stories!
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K9 You Believe It!?
Truly man's best friend, read about some of the top-dog work accomplished this past quarter from K9's throughout the US:
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In Memoriam
With great sadness, we respectfully pay tribute to the honorable men and women in blue and the brave K-9s whose lives were lost while on duty serving our country last quarter, July - September, 2016:
Puerto Rico Police Department, PR
EOW: Thursday, September 21, 2017
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Agent Héctor Matías-Torres
Puerto Rico Police Department, PR
EOW: Thursday, September 21, 2017
Polk County Police Department, GA
EOW: Friday, September 29, 2017
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K9 Section
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K9 Aron
Lauderdale County Sheriff's Department, MS
EOW: Sunday, July 2, 2017
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K9 Endy
Cache County Sheriff's Office, UT
EOW: Monday, July 3, 2017
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K9 Mojo
DeKalb County Sheriff's Office, IN
EOW: Thursday, July 6, 2017
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K9 Dingo
Unified Police Department of Greater Salt Lake, UT
EOW: Thursday, July 6, 2017
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K9 Chris
Yancey County Sheriff's Office, NC
EOW: Wednesday, July 12, 2017
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K9 Cain
Crossville Police Department, TN
EOW: Wednesday, August 2, 2017
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K9 Gunner
Southaven Police Department, MS
EOW: Tuesday, August 15, 2017
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Our thoughts and prayers are with the friends and family, blood and blue, of these fine officers, and too many others whose lives were also lost this past quarter from ailments, accidents or natural causes. We thank, appreciate and honor each hero for his or her bravery and ultimate sacrifice. Rest in Peace.
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Holiday Closings
National Police Credit Union will be closed on the following days:
Monday, October 9
Friday, November 10
Saturday, November 11
Thursday, November 23
Saturday, November 25
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