roll Call - Chicago Patrolmen`s Federal Credit Union

FINANCIAL SERVICES
Loans
Boat
Home Equity
Member Business Lending
Mortgages
Motorcycle
New & Used Auto
Personal
Share Secured
Student
Student and Secured VISA Cards
Tuition
Uniform
VISA Copper
VISA Platinum
VISA Silver
VISA Classic
Savings Accounts
Christmas Saver
Individual Retirement Accounts
Money Market Accounts
Regular and Special Purpose
Share Certificates
Free Checking Account
ATM/Debit Cards
Overdraft Protection
Convenient Access
Audio Telephone Teller
Electronic Bill Payment
Home Banking
Internet Access
Mobile Banking
No-Fee ATMs
Text Alerts
Shared Branching
Payment Origination Services
Debit Origination
Direct Deposit
Direct Payment
Payroll Deduction
VISA Automatic Payment
Additional Services
Certified Checks
Notary Public
Pre-paid Cards
Safe Deposit Boxes
Wire Transfers
ATM NETWORKS
Look for these symbols when using your ATM
Card or your credit union CheckCard.
HOMe equity line of credit or home equity loan?
You may have heard the acronym “HELOC” or “second mortgage” when looking into a Home Equity Line
of Credit or Home Equity Loan. These types of loans utilize the equity you’ve built up in your primary
residence as collateral that you can borrow against.
As a member of Chicago Patrolmen’s FCU, you may be able to borrow up to 90% of your home’s appraised
value, less the balance on your first mortgage with either product. For example, on a home that appraises
for $300,000 and has a first mortgage balance of $180,000, the equity available to potentially utilize as
collateral would be calculated as follows:
Appraised Home Value:
$300,000
90% of the Appraised Value:
$270,000
Current Mortgage Balance:
$180,000
Maximum Loan Amount: $90,000
july 2014
Roll Call
Chicago Patrolmen’s Federal Credit Union
OUR NEWSLETTER IS MOVING...ONLINE!
Which loan is right for you?
A Home Equity Line of Credit (“HELOC”) is ideal for those who want the flexibility of having a credit line
that can be borrowed against for 10 years. An example would be for education expenses where tuition
bills become due each year, or if there are multiple projects that you have planned for your home over the
coming years. The key feature on this loan is the variable rate, which can adjust quarterly based on the
published prime rate offering in the Wall Street Journal.
A Home Equity Loan is a fixed rate, fixed term product that is ideal for those who desire to borrow a
specific dollar amount and want the certainty of obtaining a fixed rate for the duration of the loan term.
CPFCU offers a variety of term options for this product. The fixed rate is determined by the desired loan
term as well as your credit score. Currently, rates are as low as 1.90%!*
Home values are rising and a Home Equity Line of Credit or Home Equity Loan are great ways
to borrow funds using collateral that you already have! If you’re curious about either product, or
have any other mortgage related questions, please call our real estate team for more information.
onechicagomortgage.com
312-499-8877
*Rates subject to change at any time.
ANNUAL MEETING NOTICE
The 76th annual meeting of the members of the Chicago Patrolmen’s Federal Credit Union will be held on September
26, 2014 at 5:00 pm. The meeting will be held at 1407 W. Washington Blvd, Chicago, IL 60607. In accordance with the
bylaws of the credit union, the Board President has appointed a nominating committee that has nominated the following
persons for three-year terms as members of the Chicago Patrolmen’s Federal Credit Union Board of Directors:
Tony Navarrete - Currently serving as a Director of the board for 12 years. Mr. Navarrete has been an active
member of the CPD for 23 years.
Jim Riordan - Currently serving as a Director of the board for 9 years. Mr. Riordan retired after having served 42
years on the CPD.
Steve Yee - Currently serving as a committee member of the CPFCU. Mr.Yee has been an active member of the
CPD for 19 years.
The Board of Directors has adopted the following criteria, which each nominee had to meet in order to be selected by
the nominating committee:
• Creditworthiness
• Member in good standing for seven years (good standing is defined as never having caused a loss to the credit union)
• Service on a committee of the Board for at least one year
The Board has adopted these criteria and standards in order to ensure that it will continue to provide strong and dedicated
leadership, serving the best interests of the credit union and its members.
Any member in good standing is also eligible to seek nomination as follows:
Nomination for vacancies may be made by petition signed by 250 CPFCU members in good standing. Each petition
shall be accompanied by a signed certificate of the nominee stating that he/she is agreeable to nomination and will serve
if elected to office. A brief statement of the nominee’s following qualifications and biographical data must accompany
the petition and signed certificate: number of years as a member of the credit union; number of years employed by
the Chicago Police Department, if applicable; and whether the nominee is active or retired from the Chicago Police
Department, if applicable.
In order to be a valid signature on the petition, the member’s printed name, home address and last four digits of the
member’s social security number must accompany each signature. Any member who feels they possess the qualifications
necessary to serve on the Board may obtain a petition at the credit union by contacting the Treasurer.
If there is only one nominee for each position to be filled, the election will not be conducted by ballot and there will be
no nominations from the floor. Any nominating petitions must be submitted to the care of
the Treasurer of the Board at 1407 W. Washington Blvd., Chicago, IL 60607 no later
than 5:00 pm on Wednesday, August 13, 2014.
Roll Call
Chicago Patrolmen’s Federal Credit Union 1407 W. Washington, Chicago, IL 60607 - (312) 726-8814 - cpdfcu.com
CPFCU is committed to bringing you the best online experience. You can already take advantage
of our free Online Banking with the option of enrolling in Bill Pay and signing up for free
e-statements. Recently, we upgraded our online membership application to make the process of
becoming a member even easier. We’ve also updated our online loan application to provide you
with an immediate response once you apply! We offer mobile banking so you can keep tabs on
your credit union account while you’re on the go. We are currently working on a website re-design
to make it easier to view and use.
With so many web features in place and more on the way, we have decided to move the Roll Call
newsletter online as well. This will be our last printed copy of the newsletter. Going forward our
news and updates will be in our new online format. To access, simply log onto cpdfcu.com, where
you will still be able to get all the same great content.
You can get even more credit union info by signing up for our email list. You’ll receive updates
about new products and features, as well as reminders about holiday closings and upcoming
events.
We live in a fast paced environment and we are always thinking of new ways to keep up. By
going online, you will no longer have to wait for new content in the mail and can get full access
anytime, anywhere. We look forward to continually bringing you the best solutions to fit your
needs- wherever you are.
MESSAGE F ROM THE C EO
We recently completed our latest round of roll call visits to every district. We look forward to it
as an opportunity to let you know about all the things that we have going on at your credit union.
Our brand of personal marketing is unmatched among financial institutions and we make it a point
to differentiate ourselves through these efforts.
Invariably, we run into members or potential members who are surprised to find out that we offer
a certain type of loan or a particular product. What is amazing about this is that there is any
surprise at all regarding what we do for our members.
We are a full service credit union. It is personally and organizationally important to us to help you
meet every single one of your financial needs. That is what we do and what we are here for. In
truth, our biggest challenge is to make sure that each and every one of you knows the variety of
products and services that are available to you, here at your credit union.
In addition to our roll call visits, we attend your association dinners and golf outings. We make
presentations at many of your meetings. We sponsor seminars and provide educational events.
We have also started spreading the word about the credit union through social media channels.
We would be happy to make a presentation to your association or your unit. We are looking for
members who will help us get the word out about the credit union, our mission, and the thousands
of Police Officers and their families who are already benefiting from their membership with us.
Thank you for your business and your loyal support. It continues to be our pleasure to serve you.
Scott Arney
CEO
Financial planners for life
Chicago Patrolmen’s Federal Credit Union is proud to announce our exclusive alliance with MAF
Companies to fulfill all your financial planning needs!
Founded in 1967, their representatives are seasoned professionals with over 100 combined years of
financial planning experience. They are knowledgeable about the specific challenges and obstacles
that police officers and their families face. Their team will build upon that expertise and find solutions
that fit your individual needs, budget and goals.
Each team member brings a high level of
expertise in the areas of:
Debbie Zielinski
My name is Debbie Zielinski and I’m the Branch Services Manager/
Training Coordinator at CPFCU. Much of what I do involves learning
different processes and systems then providing training to my fellow
employees at the credit union on how they operate. I’ve been
establishing and expanding this role for the past seven years, but I’ve
been with the credit union for over thirteen! I started my career here
as the Data Processing Manager. As time passed, I noticed a need
for more in-house training and I decided to pursue that path. Even though I had never done anything like
this before, I feel like I’ve found the perfect fit-I truly love what I do! Part of what makes my job enjoyable
is that I’m an explorer. I love finding out how and why things are done, which of course makes it easier
to train others. I think my co-workers appreciate that I take their questions seriously and will always find
them answers and solutions.
The other part of my job that makes it so rewarding is the feeling of family. People care about each other
and are very supportive. In my role I interact with every single employee at some point, so it’s great to
know that I work with such a wonderful group of people!
If you’ve met me or spoken with me on the phone you may have guessed that I didn’t grow up in Chicago.
Everyone always wants to know about my “accent”. For the record: I am originally from Tennessee and
I still get season tickets for Tennessee football and basketball every year! My husband humors me even
though he’s a born-and-bred Chicagoan. We both are big sports fans in general.
I’m looking forward to being a part of the new opportunities that are on the horizon for employees and
members!
Independence Day
........................................Friday, July 4th
...................................Saturday, July 5th
Labor Day
............................Saturday, August 30th
.........................Monday, September 1st
• Financial Protection • Estate Planning
• Insurance
• College Savings
Contact MAF Companies:
Call: (312) 499-8888
Pictured above (left to right): William Cook, John Ruggiero,
Russell Caforio, and Eric Cacioppo
Email: info@mafcompanies.com
SAVINGS AND LOAN RATES as of June 1, 2014*
Savings Rates
Share Savings Accounts
APR
APY
$100 - $2,999.99
0.03% 0.03%
$3,000 - $24,999.99
0.05%
0.05%
$25,000+
0.11%0.11%
Christmas Savers Account10.11% 0.11%
Checking Accounts
Money Market Accounts2 $0 - $24,999
$25,000 - $49,999
$50,000+
Share Certificates3 6 Month Term
12 Month Term
24 Month Term
36 Month Term
IRAs4 Share IRA
12 Month Term
24 Month Term
36 Month Term
APR
APY
0.05%0.05%
APRAPY
0.13%
0.13%
0.18% 0.18%
0.25%0.25%
APRAPY
0.19%
0.30%
0.54%
0.64% 0.19%
0.30%
0.54%
0.64%
APRAPY
0.19%
0.30%
0.54%
0.64% 0.19%
0.30%
0.54%
0.64%
CPFCU members can conduct basic
transactions at participating credit
unions that are part of the Co-Op Shared
Branch Network! Find a location by
visiting cpdfcu.com and clicking on the
Locator Tool on our homepage.
We will be closed for
• Retirement Planning • Investing
$1,000+
Featured employee
DID YOU KNOW . . .
Loan Rates
Loan Rates
APR
New Auto
1.49% - 16.74%
Used Auto
1.49% - 16.74%
Signature Loans
3.90% - 16.90%
New Motorcycle
3.49% - 13.49%
Used Motorcycle
3.49% - 13.49%
New Boat
5.99% - 14.49%
Used Boat
5.99% - 14.49%
5.90% - 7.90%
Tuition Loans
5.90% - 7.90%
Student Loans
Season Loans
15.90%
Share Secured Loans2.72%
(Variable Rate Adjusted Periodically)
Mortgage Loans
Market Rates
4.25%
Home Equity Line of Credit (Variable Rate Adjusted Quarterly)
Fixed Rate Home Equity Loan 1.90%-6.99%
Member Business Lending
Market Rates
5
VISA Cards APR
VISA Copper
8.90%
Promotional balance transfer rate
2.90%
VISA Platinum
11.90%
Promotional balance transfer rate
6.90%
VISA Silver
13.90%
Promotional balance transfer rate
7.90%
VISA Classic
16.90%
VISA Secured
14.90%
VISA Student
14.90%
*APR=Annual Percentage Rate. APY=Annual Percentage Yield.
Dividends computed based on daily balance and paid quarterly for all share products.
Rates subject to change without notice. Some restrictions apply. Contact CPFCU for most current rates.
1
Early withdrawal penalty may apply. Funds Available on 10/1/2014. Minimum balance of $50 to earn dividends.
2
Minimum initial deposit of $2,500 required. $15 per month fee if the average daily balance falls below $2,500.
Limit of six (6) withdrawals or transfers per month.
3
Minimum deposit of $2,500 required. Non Compounding Certificates are available. Account relationship pricing, whereby, members may earn up to 0.35%
beyond the rates reflected on the rate sheet is available on 12, 24, and 36 month certificates and IRA certificates. Contact a CPFCU representative for complete
details.Early withdrawal penalty may apply.
4
The minimum initial deposit is $25 for a Share IRA, $1,000 for a Traditional and Roth IRA, and $500 for an Educational IRA. Account relationship pricing is
available on 12, 24 and 36 month IRA share certificates. See 3 above for details
5
Rate applies to purchases and cash advances, no annual fee, some restrictions apply.
Common Fees (Effective 8/15/12)
Under minimum monthly share fee............$10.00
Transfer from savings or money market to share
draft/checking to cover an overdraft
(each occurrence) ..................................$10.00
Stop payment (all items) ............................$37.00
Photocopy of draft (each item) ....................$3.00
Non-sufficient funds item (each) ................$37.00
Collection item processing.........................$30.00
Certified Check.............................................$5.00
Deposited checks and other items
returned unpaid.......................................$37.00
Incoming wire transfer................................$10.00
Outgoing wire transfer................................$25.00
Bad Address fee...........................................$5.00
Account research.......................................$25.00
Copy of statement........................................$5.00
Under minimum average daily balance money
market fee...............................................$15.00
Late Loan Payment....................................$37.00
Negative Checking balance fee
(after 5 consecutive business days).......$10.00
Legal fees, Garnishments, Attachments, Tax Levies
and/or Charge-Off (per occurrence).......$75.00
Non-Member check cashing fee...................$5.00
Collateral Protection Insurance
(forced placement on collateralized loans)....$50.00
Bank Check Fee...........................................$5.00
Temporary Checks.......................................$2.00
Check by Phone...........................................$5.00
Late Mortgage Payment.......5.0000% of payment
Late Home Equity Loan Payment...............$25.00
Subordination Request Fee......................$100.00
Mortgage Deed Release Fee.....................$50.00
Payoff Letter for Real Estate Loans............$10.00
Verification of Deposit.................................$10.00
Dormant Account (after 6 mos of inactivity)..$5.00
home banking FEES
Bill Payer Fee (per month, if applicable) .....$9.95
Bill Payer / Insufficient Funds (NSF)..........$37.00
Bill Payer Check Copy................................$20.00
Bill Payer Stop Payment Fee.....................$37.00
ATM DEBIT CARD FEES
Replacement ATM or Debit Card................$10.00
Replacement PIN ......................................$10.00
VISA® Credit Card Replacement ................$10.00
There is a charge of $1.00 for each withdrawal,
transfer, point-of-sale, or inquiry in excess of five per
month at non-CPFCU machines, using your ATM or
Debit Card.
*Fees are subject to change.