2015 Fall Newsletter - The Police Credit Union

The MasterCard Difference
2
New Phone Banking
2
Competitive Mortgages
3
Youth Scholarships
3
Retirement Planning
4
Staff Notes
4
taking care of our own
pass it on
Hot Tips & More
from Your Credit Union >>>
Fall 2015
HAPPY 70TH
BIRTHDAY TO US!
Deposit
Anywhere™
....anytime
Snap.
Tap.
Depositing cheques on the go is a snap with the
Deposit Anywhere™ feature of our mobile app.
You no longer need to bring cheques to the
Credit Union or ATM, you can simply use your
smartphone or tablet to deposit the funds securely
into your account.
>>> Here’s how it works:
1. O
pen the PCU mobile app on your smartphone
or tablet
2. S
elect your account and enter the amount on
the cheque
3. S
nap a photo of the front and back of the
cheque
4. C
onfirm the details, then tap “submit” and
that’s it!
Send.
Relax.
It’s fast, free and totally secure. To learn more about
Deposit Anywhere™ visit our website at tpcu.on.ca
and click on Deposit Anywhere™ under Ways To
Bank. You can also watch a quick animated video of
how it works.
Don’t have the app?
Simply visit the iTunes App Store for Apple users or
Google Play™ for Android users and search for
“Police Credit Union.” Select the PCU MOBILE APP
icon and tap to select. Then tap “INSTALL” for
iPhone or “ACCEPT” on Android and you’re all set.
Banking has never been this easy!
Move your money from Point A to Point B in a pinch. Interac
e-Transfer® gives you the flexibility and ease to quickly and securely
transfer money from your account to another Canadian bank account
without every sharing financial information.
All you need is an email address or mobile phone number and you’re
set. Simply set up the transaction through your online or mobile
banking (including our new mobile app) from anywhere, at anytime.
You’ll be asked to attach a personal security question to your transaction and once the recipient provides the
correct answer, the funds will be deposited directly into their account. It’s that easy.
Once you process the transfer request on your end, the balance is automatically deducted from your account.
No more worrying about when that cheque you wrote will be cashed. No need to travel to your nearest ATM to
withdraw cash for a friend. And, this convenient service is already connected to your online and mobile banking.
NEW USERS: Before you process your first transaction contact us at 1.800.561.2557 or visit any
branch and we will help you set up your limits and activate the service.
HAS NEVER BEEN THIS EASY
MOVING YOUR MONEY >>>
The Police Credit Union has been proudly
serving its members and the policing
community for 70 years and we’re still
growing strong.
We are looking forward to celebrating
with our members and have chosen
International Credit Union Day on October
15th to do just that.
To mark this incredible milestone in
our Credit Union’s history, each branch
will have a celebratory cake and coffee
available between noon and 2 pm.
Join us for prizes and free giveaways.
For details on specific events happening
in the Credit Union contact your
local branch or the Call Centre at
1.800.561.2557.
WHAT IS INTERNATIONAL
CREDIT UNION DAY?
This honorary day has been reserved to
recognize and reflect on the history and
success of the credit union movement
around the world. It lets us celebrate the
hard work, dedication and commitment
of our Credit Union family and allows us
to share this with our members.
All over the world Credit Unions are
celebrating this day in their own way.
For our Credit Union this year will be
extra special. We invite you to join us at
our branches as we commemorate the
occasion with good food, good friends
and plenty of fun for all.
PCU Mastercard:
Making A
Difference
Getting to Know Our New
Telephone Banking System
The more you
spend, the more
we send!
Now you can feel even better about using
your Police Credit Union MasterCard to
pay for purchases.
We recently upgraded our telephone banking system to provide you with a more streamlined
experience over the phone. While we realize that our old system had become second nature for many
of our members, this upgrade was an important step in providing the best level of service we can to our
membership as a whole.
Continuing with the philosophy of “taking care
of our own”, the Police Credit Union is proud
to implement a NEW program committed
to donating, annually, a percentage of the
revenue sharing profits generated by our
MasterCard Credit Card product to the Ontario
Police Memorial Foundation.
Our previous telephone banking service had been in use for over decade and while it served us well, these new
enhancements were necessary to maintain secure and accurate access to your accounts. We’re confident
that once you’ve used the new system a few times, it will become as easy to use as the previous one.
So whether you make a big or small
purchase it makes a difference to ensure
we continue to support our members, their
families and the communities we serve.
Think of it as conscious consumerism!
• A nticipate a short pause between dialing the telephone banking phone number and when our system
clicks in
If you’re not already enjoying all the
benefits of MasterCard, visit us online at
tpcu.on.ca to discover the credit card
options available and to apply online or
call us at 1.800.561.2557.
Put more power behind your purchases and
choose a card with added purpose!
Discover the MasterCard difference today.
In the meantime here are a few tips to help you navigate the changes.
NEW TELEPHONE BANKING SYSTEM TIPS
• L isten to the menu carefully and follow the prompts
• T he prompt for Financial Transactions covers all transactions including:
- transfers between accounts
- bill payments
• B
ranch numbers are the same as before
#1 Toronto
#2 Durham
#3 York
#4 College
#5 Peel
• B
ill payments and transactions are listed 5 at a time, so you will get the first 5, then must follow the
prompts to get to the next 5 and so on.
• In addition to hearing the name of the bill, you will also hear the last few digits of the account so be
sure you pay close attention.
holiday hours
• T he system assumes the amount you are paying includes cents, so if you are paying $165.00
towards a bill you will need to input the numbers 16500.
OCTOBER
Monday, October 12 - CLOSED
• T he system will repeat the amount you’ve input so you can confirm it is accurate
DECEMBER
Thursday, December 24 - Open till 1:00 p.m.
(including York Branches)
• If you have several bills to pay, consider writing out a list of your bill payees and what number
prompt they correspond to – this way you can quickly choose the bill you with to pay – example #1
Bell, #2 Hydro, #3 Cell Phone, etc.
Friday, December 25 - CLOSED
Saturday, December 26 - CLOSED
Monday, December 28, 2015 - CLOSED
Thursday, December 31 - Open until 1 p.m.
(including York Branches)
JANUARY
Friday, January 1 - CLOSED
Saturday, January 2 - Durham branches
open, all other locations closed
Monday, January 4 - All branches OPEN
• T he system is set up with categories and sub-categories of accounts. For example:
- CHEQUING will cover: All chequing accounts under the membership, All Lines of Credit under
the membership, All Meritlines under the membership. You might therefore get a prompt saying
chequing and then another saying chequing one. This is not repetition; it is because some of our
members have more products under the chequing category.
REMEMBER: You can PRESS “0” at any time to reach the Call Centre for assistance, Monday-Friday
between 9 p.m. to 5 p.m. and Saturday 9 a.m. to 1 p.m.
Important Notice regarding Travellers Cheques
Effective November 1st, 2015, the Police Credit
Union will no longer offer Travellers Cheques
to its members. Unfortunately the cost required to
carry, secure, and facilitate the administration for
the cheques is not being offset by the number of
requests from members for the cheques.
We feel our resources can be put to better use
elsewhere and have decided discontinuing this
service is in the best interest of our members.
We appreciate your understanding.
Our rewards pricing
Mortgages Are Priced
to Move
2.64%
We all want to be mortgage free faster.
CYL – Cooperative Young
Leaders Camp Participants
5 year
So it makes sense that you would want to secure the lowest possible interest rate.
term
But buying a new home is challenging enough. You have to find the right home at the right
price. Negotiate your terms. Potentially go up against other offers. Not to mention the paperwork.
And before you even start your search you need to secure the best rate on your mortgage. Sure you
could invest the time, do the research, compare and analyze the stats. Or you could just come in to
the Credit Union.
SUPER COMPETITIVE RATE MORTGAGE ADVANTAGES
At the Credit Union you’ll always get our most competitive rate, GUARANTEED. Plus, if you’re a
REWARDS MEMBER we’re prepared to unlock even greater savings. A lower fixed rate on your
mortgage could save you thousands of dollars over the length of your term.
We dare you to compare our rates to the leading banks and alternatives and we’re confident you
won’t find a better rate around. See for yourself.
PCU
REWARDSTD
BMORBC
PRICING
2.64%
CIBCTANGERINE
2.69% 2.69%4.64%4.79% 3.79%
Throughout the months of July and
August, the Police Credit Union was
proud to sponsor several young members
who took part in the Cooperative Young
Leaders program.
The following participants took part in the
week-long camps aimed at empowering
our youth.
•
•
•
•
•
•
Sarah Hammond
Mathew P. Estrela
Sean Atkinson
Makala Pitter
Mya Pitter
Kaela Carpenter
Rates courtesy of ratehub.ca, effective July 31, 2015
2015 PCU
Scholarship
Winners
We’re driving down rates on vehicle loans.
Pick your ride and we’ll help you pay less and save more!
4 Applies to new and nearly new vehicles loans
4 Applies to vehicle loans brought in from
another financial institution
4 100% financing – NO $ down
4 Terms up to 10 years
save
2.5%*
on vehicle
loans
Plus extra savings on:
4 G
roup Auto Insurance through Co-operators – get a FREE quote
4 Car Choice Canada’s expert car buying service – ask us how!
Call us today and gear up for some savings.
*Rates subject to change without notice. Check out website for current rates.
Applies to new and used vehicles within 4 model years.
Congratulations
to Kristin McKay,
Malcolm MacDonald,
Sarah Charnock, Sean
Hammond and Katie
Theriault who were
all awarded a $500
scholarship to be used
towards their postsecondary education
expenses.
DO YOU HAVE
WHAT
TAKES?
DO YOU HAVEIT
WHAT
IT TAKES?
>> CALL
FORBOARD
BOARD NOMINATIONS
CALL
FOR
NOMINATIONS
Do you support the Credit Union values of
democratic
ownership
Do
you support
the Creditand
Union values
social
responsibility?
Areand
yousocial
a
of
democratic
ownership
community-minded
individual
ready to
responsibility? Are you a community-minded
shape the future of your Credit Union?
individual ready to shape the future of your
Then you’re an ideal candidate for our
Credit Union? Then you’re an ideal candidate
Board of Directors! As a member, you
for our Board of Directors! As a member, you
already have a voice in how the Police
already
have aisvoice
the Police
Credit
Credit Union
run. in
Byhow
joining
our Board
of
Union
is
run.
By
joining
our
Board
of
Directors,
Directors, you can strengthen
you
strengthen
your voice
and expand
Changes
hours
of operation
yourcan
voice
andto
expand
your
participation
your
participation
in
the
democratic
in the
democratic
process.
effective
August
1, 2015: process.
Important Notice!
Start by reviewing the eligibility criteria,
Start
the eligibility criteria, then
then by
fill reviewing
out an application
The Toronto Branch will be
fill
out
an
application
for local
nomination
for nomination at your
branchatoryour
at
closed
onatSaturdays.
branch
local
branch or
www.tpcu.on.ca.
www.tpcu.on.ca.
Candidate The Candidate
will continue
to
be open
applications
willbebeaccepted
accepted
to
applications
will
upup
to Monday
9090
days
daystobefore
the
Annual
General
before
the
Annual
General
Meeting,
which
Friday from 9am to 5pm.
Meeting,
will18,
be 2016.
held on
April 18,
will
be heldwhich
on April
Completed
2016. Completed
applications
can beapplications
delivered to any branch
The
York Branch
will now
be
can must
be delivered
to any
branch
andbelow
must
and
be received
at the
address
no
open
on
Thursdays
from
11am
to
be received
atp.m.
the address
later
than 5:00
on January 18, 2016:
below
no later
than 5:00
p.m. on January
7pm.
Monday
to Wednesday
and
18,
2016:
hours
of operation
remain
ChairFriday
– Board
of Directors
// The Police
Chair – Board of Directors // The Police
Credit
Union
3650 Victoria Park Ave,
9am
to //5pm.
Credit Union //3650 Victoria Park Ave,
Suite 303, Toronto, Ontario M2H 3P7
Suite 303, Toronto, Ontario M2H 3P7
Staff Notes
From the desk oF Horst Scheibelt:
GOLDEN RULES OF RETIREMENT PLANNING
NEWLY APPOINTED
CREDIT MANAGER
Your retirement dreams can come true if you have a solid
investment plan in place. Follow these four golden rules and put
yourself on the path to successful retirement planning.
It is with great pleasure that we
announce the internal promotion of
Sheila Carvalho to the position of
Member Credit Manager.
RULE #1: Create an investment plan
The Mutual Funds Investment Specialist at your Credit Union can help
you develop an investment plan suited to your unique requirements,
your time horizon, and your tolerance for risk. With a plan guiding
your investment strategy, you’ll feel comfortable today, and secure
about tomorrow even when markets get stormy.
Sheila has over 15 years of experience in lending
and has over 30 years of progressive experience in
the Financial Services Industry. She first began her
career with the Police Credit Union in September
of 2001 as a Member Service Officer at our Peel
Branch. She later moved over to our Toronto Branch
in 2006 under the same role.
RULE #2: Stick to the plan
Short-term fluctuations in the value of any equity-based investments
are normal. In fact, volatility is necessary to achieve higher returns over the long term. Your
investment plan should be built to withstand those fluctuations. Rebalancing may be required
from time to time, your Mutual Funds Investment Specialist can help with that, but impulse
buying and knee-jerk selling are not part of the plan. Markets tend to rise over the long term,
so rely on time, not timing the markets, to reach your goals.
In August 2009, she was promoted to Branch Manager
at our York location. Under Sheila’s guidance and
leadership, branch membership increased to 1,926
while the asset base had grown from approximately
30 million to 43.4 million at the end of 2014.
RULE #3: Invest regularly
Skipping just one annual RRSP contribution of $5,000 could reduce the value of your retirement
nest egg by almost $17,000 after 25 years (assuming a 5% average rate of return, compounded
annually). The easiest way to invest regularly is with a Pre-Authorized Contribution (PAC) Plan.
You’ll automatically invest a fixed amount of money every month in your chosen investments.
With this graduated approach, there’s no need to guess at the best time to invest. Your money
automatically buys more units when prices are lower and fewer units when prices are higher.
Today, the visibility of the PCU within York Regional
Police Service is at an all-time high thanks to Sheila
and her team. We congratulate Sheila and wish her the
best of luck in her new role at the Police Credit Union.
TORONTO BRANCH
MANAGER RETIRING
RULE #4: Diversify
Different types of investments react differently to economic events. When you hold a variety of
investments in your portfolio, you protect yourself against day-to-day fluctuations in any one
category. At the same time, your portfolio has a better chance of benefiting from the current
best performing asset class.
After almost 15 years of service
with our Credit Union, Toronto
Branch Manager David Merrifield,
will be retiring from the Police Credit
Union on October 16, 2015. David began his career
with us on January 29, 2001 as a Member Service
Officer and was quickly promoted to the position of
Toronto Branch Manager in February of 2002.
Over the years David has contributed to the successes
of the Police Credit Union through various outreach
efforts and staff development. Please join us in
congratulating David on his up-coming retirement and
wishing both he and his wife Jackie much health and
happiness in the years ahead.
This article is courtesy of “Credential Asset Management Inc.”, your credit union’s partner in providing you
with wealth management services.
Mutual funds are offered through Credential Asset Management Inc. Commissions, trailing commissions,
management fees and expenses all may be associated with mutual fund investments. Please read the
prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured
nor guaranteed, their values change frequently and past performance may not be repeated. The information
contained in this newsletter is provided as a general source of information and should not be considered
personal tax advice, investment advice or solicitation to buy or sell any mutual funds.
®Credential is a registered mark owned by Credential Financial Inc. and is used under license.
WE’RE MOVING OUR CORPORATE OFFICES AND TORONTO BRANCH
This coming November we will be moving our corporate offices and Toronto Branch to a brand new
location at 105 Gordon Baker Road. It’s just a few blocks away from our current location, so members
can still enjoy the same familiarity of the neighborhood they’ve come to know. We will tentatively be
at our new location on Monday November 24, 2015 and open for business. Please keep looking
on our website and at our branch locations for updates as the date approaches. In preparation for the
move, our Toronto branch will be closed at 1:00 p.m. on Friday November 20, 2015. All other branches
will remain open until 5:00 p.m. that day, with our Durham branch open for members on Saturday.
It’s all part of our agenda to improve efficiencies and continue to deliver excellent member service.
Look for all the details in our Winter Newsletter about our grand opening celebration.
WITH HEAVY HEARTS
It is with great sadness that we inform you of
the passing of retired CEO of the Police Credit
Union, Mr. Doug Weber on June 30, 2015. Our
thoughts and prayers are with his wife Gloria
and their family. He will be greatly missed.
Corporate Office
Toronto
Durham
York
Peel
3650 Victoria Park Ave.
Suite 303
Toronto, ON M2H 3P7
General Inquiries 416-226-3353
toll-free 1-800-561-2557
ExpressLine 416-223-8728
toll-free 1-800-360-8728
3650 Victoria Park Ave.
Suite 103
Toronto, ON M2H 3P7
962 Kingston Rd.
Pickering, ON
L1V 1B3
Toronto - College
18025 Yonge St.
Unit 7
Newmarket, ON
L3Y 8C9
85 Aventura Crt.
Unit C
Mississauga, ON
L5T 2Y6
Toronto Police Headquarters
40 College St. Room 101
Toronto, ON M5G 2J3
www.tpcu.on.ca