All About SFPCU`s Visa® Credit Card

APB
OCTOBER 2014
FINANCIAL SERVICES FOR FIRST RESPONDERS
POSITIVE REFLECTIONS:
As of August 31, 2014
Assets.......................... $768,287,672
All About SFPCU’s Visa® Credit Card
Loans........................... $443,727,509
Shares.......................... $658,047,770
Members.................................34,895
IN THIS ISSUE:
Are You Creditworthy?............ PAGE 2
How to Read Your
Credit Score............................ PAGE 2
The SF Police Credit Union
Awards for Employee
Excellence.............................. PAGE 3
Strategic Planning –
Preparing for the Future ......... PAGE 4
Current Promotions................ PAGE 5
Tired of credit cards that promise the moon
Discover Chip Technology
but fail to deliver? Stop settling for fine print
Coming soon, the
failings and offers that seem too good to
SFPCU Visa Platinum
be true and consider switching to a Visa
card will include
Platinum card from SF Police Credit Union.
the latest in
SFPCU’s Visa Platinum card delivers the
chip technology.
purchasing power and flexibility you’ve come
Each card will contain
to expect from SFPCU.
a unique microprocessor
Personalized, Perfect for Points and
Powerful Protection … Oh My!
Our Visa Platinum card offers many great
features, including:
• Competitive rates and a low monthly
payment
chip, which works to protect the
cardholder’s transaction data at the
register and thwart thieves and hackers
from getting important information.
Make the Change Today
Ready to switch to a SFPCU Visa Platinum
Car Sale.................................. PAGE 5
• No setup or maintenance fees
card? You can apply online, by visiting
Upcoming Shred Days.............PAGE 6
• Identity theft coverage
any one of our branch locations, or by
• Online account access, E-Statements
calling us at 800.222.1391. For more
and 24-hour information service available
information on our many card services,
by phone
head to www.sfpcu.org to learn more!
• Lost luggage reimbursement and travel
Find us on Facebook! Search
for SF Police Credit Union
and “Like” our page today.
www.facebook.com/
sfpolicecreditunion
accident insurance
• Earn one CURewardsTM point for
every dollar spent ($1=1 point). Redeem
points for cash, gift cards, brand name
gifts or travel.
• Customized designs through our
SF Police Credit Union
www.sfpcu.org
Design Your Own Card service
Check Out Our Exclusive Offer!
We are offering a 0% APR for
introductory rates on purchases
and balance transfers. To learn more,
see page 5.
Are You Creditworthy?
Not too long ago most people paid with either cash or checks.
Seniors may have spent the majority of their lives managing their
money using cash and a checking account, and not bothering
with credit cards. Unfortunately, not ever paying with credit
issued in your own name can cause older consumers to have no
credit history. This can create challenges for those who wish to
buy a home, a car or apply for a credit card.
Know Your Rights
According to the Equal Credit Opportunity Act (ECOA) it is
unlawful for creditors to discriminate based on age. To avoid
being turned down for credit, these simple things may increase
your creditworthiness.
Establish a credit history. Apply for a secure
credit card or a small line of credit from SF Police
Credit Union to help build your credit history. Even
if it has a low limit, establishing a pattern of purchasing items and
paying them off on time each month can help build a positive
credit history.
Check your credit report. Knowing what is in
Consider your income. If your income comes
primarily from Social Security or a pension, it may
not be high enough to qualify for the credit you
seek. Consider telling creditors about other assets or sources of
income, such as your home or stocks and bonds. This may help
to show the lender you have enough to repay the loan.
your credit report can help you arm yourself with
the information necessary to build better credit.
Visit www.annualcreditreport.com to request a free credit
Come See Us
report. You’re entitled by law to a free copy of your report from
Visit SFPCU to learn more about increasing your
each of the three major credit bureaus once every 12 months.
creditworthiness. We’re here to help.
How to Read Your Credit Score
Your credit score is a three-digit number that is extremely
720+: Excellent Credit
important for a wide range of activities. It can help determine
Those in this range have a long history of great credit utilization.
your eligibility for credit cards, home and auto loans, apartment
As a desirable lending candidate, you have access to a wide
rentals and may even affect your chances of landing a job. Credit
range of lenders who offer benefits such as rewards programs or
scores also have an effect on the interest rate you pay for credit.
extremely low interest rates to attract your business.
The higher your score, the lower your interest rate for new loans.
That’s because people with higher credit scores are considered
a lower risk to lenders, so they can charge lower rates. Payment
history is the biggest factor in determining your credit score. It
also reflects your credit utilization – your balance of credit versus
your credit limit – as well as the length of credit history, new credit
680-719: Good Credit
Scores in this range are above average and often qualify you for
lower rates and the ability to choose between credit options.
Continue good financial habits such as low credit utilization and
on-time payments to keep improving your credit score.
and types of credit used. Here is a breakdown of what various
credit scores mean:
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www.sfpcu.org
...continued on page 6
Call Box
A Q U A RT E R LY I N S E RT T O Y O U R A P B N E W S L E T T E R
OCTOBER 2014
RECOGNIZING “U”
The SF Police Credit Union
Awards for Employee Excellence
In July, members of the SFPCU staff,
management team and volunteers took
time to recognize credit union employees
for their outstanding job performance.
A new annual award was added this past
quarter. Developed at the suggestion of
Director Mike Hebel, The Board of Directors Emeritus Award was named in honor
of those volunteers who have unselfishly
dedicated more than 20 years of service
to the credit union. Currently the annual
award honorees are Dave Mayer, Willie
Frazier and Jim Hennessy.
To be eligible to compete, the candidate
must be a full-time employee with over
12 months continuous employment, have
an overall performance rating of greater
than 4.5 within the prior year and have
met all performance standards and goals.
Nominations are made by SFPCU
department managers, and are then
reviewed by the Board of Directors. The
Board of Directors looks at the following
performance areas:
• Participation in community involvement
activities
• Participation in strategic SFPCU
projects/committees
• Service as a SFPCU peer mentor
• Quality Loop Scores and Internal
Departmental Service Scores
• Professional development activities as
individuals and in assigned teams
• Past recognition received and given via
the Recognizing U Program
certificate, and her name displayed on a
perpetual crystal trophy in the Irving St. main
lobby. Check it out next time you are there!
Additional awards were given to other
credit union employees recognizing
commitment, innovation, outstanding
achievement, teamwork and front-line
service. Congratulations to all our award
winners and we’d like to urge our members
This year, the winner was Cissy Yin, who
to let us know if they see an employee who
exemplified the “can do” spirit of a credit
goes “above and beyond” so their good
union employee. As part of the award,
work can be acknowledged by all.
Yin was presented with $2,500, a framed
www.sfpcu.org
3
Strategic Planning – Preparing for the Future
Earlier this year, the SFPCU Board of
Directors, the Supervisory Committee and
our new CEO, Eddie Young, met in San
Francisco to discuss future strategies for
building on the Credit Union’s successes.
The meeting was facilitated by Dr. James
This of the Paragon Group.
The Strategic Planning Process
The strategic planning process was
broken down into three areas to help
identify our next steps:
Focus
• Clearly define the purpose of the
Credit Union
• Establish strategic directions for the
next five years
• Communicate directions and goals to
everyone in the Credit Union
• Develop a sense of ownership of
the plan
Why Is It Important?
This process took place over two days of
discussion, planning and brainstorming.
The result was the development of a plan
Prioritize
• Identify priority actions and initiatives
that will unfold over the next five years,
giving clear, short-term and long-term
direction to employees, management
for the next year that align with the
and volunteers. According to Director Jim
purpose, strategic directions and
Hennessy, “The strategic planning process
performance objectives
was invaluable in guiding the Board and
• Focus the Credit Union’s resources on
key issues
Measure
• Establish measurable performance
objectives
• Provide solid criteria for evaluation
and reward
leadership in developing a roadmap for the
future that places a primary importance
on growth while ensuring the continued
financial security of our members.”
What Is the Purpose of the
Credit Union?
The Board agreed that the purpose of the
Credit Union is to become the principal
financial institution able to meet the fiscal
needs and contribute to the financial
well-being of our members. The Chairman
of the Board of Directors, Glenn Sylvester,
states, “Strategic planning is ESSENTIAL
for the sustainability of our organization,
now and in the future. The world continues
to evolve, and we must do the same as
your financial partner, all while taking into
account our loyal members, upcoming
generation(s) and new potentials. I have
the utmost confidence that our meeting
was very productive.”
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www.sfpcu.org
CURRENT PROMOTIONS
To learn more about any of these promotions, please call 800.222.1391 or visit our website at www.sfpcu.org
REFER A NEW MEMBER.
• Refer family or
eligible co-workers for
SFPCU membership
• Unlimited Member Referrals
• Once they join, we’ll give you $25 and they’ll
get $25 for their opening deposit. Plus, your
new member can earn an additional $100 if
they open a Global ATM Checking Account.
* Offer valid 09/15/14 through 11/15/14. New Member Bonus: $25 will be used as opening deposit for the new member’s account and
shall be reversed and returned to SFPCU if the account is closed within 12 months after the date opened. Business accounts are ineligible.
Minimum account balance to open account and obtain APY is $25.00. Current Annual Percentage Yield (APY) on a regular share account
is .10% as of 09/01/14. Checking Promotion Bonus: To qualify for the $100 bonus the new member must open a new Global ATM
Checking account with a $25 minimum opening deposit during the promotion period. Also, within 60 calendar days of account opening,
a $500 monthly direct deposit must be initiated. The bonus will be deposited into the new checking account within 30 business days
after meeting the $500 direct deposit requirement. Bonuses may be tax-reportable. All new accounts are subject to the SFPCU account
opening procedures and standard account terms and conditions. Fees could reduce earnings on the account. Rates, terms and conditions
are subject to change.
SFPCU PLATINUM VISA – THE PERFECT HOLIDAY HELPER
• Now through December 31st,
transfer your high interest credit
card balances to an SFPCU Visa,
and take advantage of our low,
0% APR for 6 months with no
balance transfer fee!
• If you’re not already an SFPCU
Visa card holder, open a new
SFPCU Platinum Visa account by
December 31st and you’ll get this
great rate on balance transfers
AND retail purchases.
GET $25
for yourself,
Up to $125
for them!*
0% APR*
Introductory Rate on Purchases
and for Balance Transfers!
* APR = Annual Percentage Rate. Offer valid 10/1/14 – 12/31/14, purchases and balance transfers must be made during this period to qualify. The Balance Transfer rate of 0% APR is valid for 6 months from
each transaction date . The Introductory rate of 0% APR is valid for purchases on new accounts opened during the promotional period, and is valid through your June 2015 statement. After the introductory periods, the promotional rates will return to standard purchase/ balance transfer rate (Rate based upon Prime Rate + a Margin of 6-12%). Offer is only valid for balance transfers from existing credit card
balances at other financial institutions. All new applications are subject to terms, conditions and credit approval. You must be at least 18 years of age to apply, and show ability to repay future balances or apply
with a co-signer if you are under the age of 21. Rates, fees and terms are subject to change at any time, for current rates contact us at 800.222.1391.
VEHICLE LOAN DISCOUNT, RATES AS LOW AS .99% APR*: 90 DAYS NO PAYMENTS
Whatever vehicle you prefer, you’re always on the road to savings with an SFPCU
Vehicle Loan.
• New, used auto or early model auto
and motorcycle
• Free Auto Buying Service
Rates as low as
.99% APR*
* APR = Annual Percentage Rate. Rate discount offer valid through 12/31/14. Offer valid on New, Used, Early Model Autos and motorcycles. Loan amount must be $15,000 or higher to qualify. Example
rate of .99% with 36 monthly payments = $28.21 per $1,000 borrowed, assumes 1.00% maximum promotional discount of .50% for SFPCU home loan,.25% for SFPCU Visa and .25% discount for
enrollment in automatic payments. Rates, terms and conditions are subject to change without notice. Internal refinances are not eligible. Out-of-state, dealer transaction vehicles are eligible.
HOME LOAN FLAT-RATE FEE $599! HOME LOANS.
• Purchase or refinance for a flat
fee of $599
• Choose from fixed and adjustable
rate mortgages
• No hidden costs or pre-payment penalties
• Fast and easy application process
Offer valid through 12/31/14. $599 flat fee covers Appraisal, Credit Report, Courier/FedEx, Appraisal Review, Tax Service, Wire
Transfer, Underwriting and Flood Zone Certification (does not include title insurance, escrow or other fees not listed). Offer valid
on 1st mortgages only. Flat Fee Offer, exclusions, terms and conditions are subject to change without notice. APR= Annual Percentage Rate. Example rate of 2.625% APR with 360 monthly payments (30 year) = $401.76 monthly per $100,000 borrowed. Rates,
terms and conditions are subject to change at any time, you may contact us for current information at 800.222.1391.
Purchase or Refinance
with
a flat
fee of
$599!
THE SF POLICE CU PRE-OWNED SALES EVENT
Saturday, October 11th from 9 a.m. to 5 p.m.
Sunday, October 12th from 10 a.m. to 5 p.m.
6001 Gibraltar Drive Pleasanton, CA 94588
The summer of Audi event.
Large selection of used vehicles available:
Imports, domestics, luxury vehicles, SUVs,
mini vans, trucks and sport performance vehicles.
www.sfpcu.org
5
w
Take Advantage
of Shred Days
This October
Branch and ATM Locations
In addition to SFPCU locations, as an
SFPCU member you also have access
to fee-free CO-OP ATMs, Shared Branch
locations and Bank of The West ATMs.
Find fee-free ATM locations
nearest you:
www.sfpcu.org/locations.
SFPCU Online
Online Banking / Mobile Banking:
www.sfpcu.org / www.sfpcu.mobi
Got papers piling up at home? Stop by one of our
shred events to rid yourself of unnecessary clutter. Join us
by bringing your personal and confidential documents to our
San Mateo, Irving or Oakland branch location. We will have staff on-site to assist with shredding.
Many of our members have confidential papers due to the nature of their work. SFPCU is happy
to be able to provide you with a safe, secure way to dispose of unneeded documents. Private
iPhone® and Android™ Mobile
Banking App:
Search for SF Police CU in the iPhone
App Store or Google Play to download
our apps for free!
Facebook:
www.facebook.com/sfpolicecreditunion
items such as tax records, old bills or other sensitive documents that are no longer needed can be
SFPCU Contact Information
disposed of in a secure manner.
24/7 Call Center:
800.222.1391 or 415.564.3800
Shred Days branch locations, dates and times:
Oakland Branch
San Mateo Branch
Irving Street Branch
Thursday, October 9th
Friday, October 10th
Saturday, October 11th
from 12 p.m. to 3 p.m.
from 12 p.m. to 3 p.m.
from 10 a.m. to 2 p.m.
Please abide by the following guidelines for a smooth Shred Day:
• Up to three medium-sized moving boxes are allowed per member.
• Ensure all material for shredding is free of batteries, binders, books, binder clips or any other
metal objects that may damage or jam the shredder – note staples and paper clips are OK.
...continued from page 2
HOW TO READ YOUR
CREDIT SCORE
620 – 679: Fair Credit
If you fall in this range, your score is around average. Often people in this range have a large amount
of “bad” debt, such as near-maxed credit cards. To
improve your credit score, and qualify for lower rates,
work out a plan to pay down current debts.
<620: Poor Credit
Credit scores below 620 are very low. Those who fall in this range often have gone through
bankruptcy, consistently missed payments or have no credit history – such as young adults just
starting out. Individuals in this range may benefit from starting a history of on-time payments
and can make use of a secured card to establish credit history.
Improve Your Score
SFPCU offers a variety of credit options that can help build a positive credit history. For those
with limited credit history, we offer a Visa® Share Secured card to build your credit. For those
MemberLink 24-hour transactions:
415.242.2142 or 800.871.3419
Email:
[email protected]
Other SFPCU Services
MEMBERS Financial Services:
415.682.3361
BALANCESM Program:
888.456.2227
No-cost Auto Buying Service:
800.716.9550
HOLIDAY NOTICE
SF Police Credit Union branches
will be closed:
Columbus Day – Monday, October 13th
Veterans’ Day – Tuesday, November 11th
Thanksgiving Day – Thursday, November 27th
Thanksgiving Friday – Friday, November 28th
Christmas Eve (closed at noon) –
Wednesday, December 24th
Christmas Day – Thursday, December 25th
For assistance during closed hours,
call our 24/7 Call Center at 800.222.1391
or MemberLink, the 24-hour transaction
line, at 800.871.3419 or 415.242.2142;
or access SFPCU Online Banking at
www.sfpcu.org.
This publication does not constitute legal,
accounting or other professional advice. Although
it is intended to be accurate, neither the publisher
nor any other party assumes liability for loss
or damage due to reliance on this material.
Websites not belonging to this organization are
provided for information only. No endorsement
is implied. Images may be from one or more of
these sources: ©Thinkstock, ©iStock, ©Fotolia.
©2014 SF Police Credit Union
with more credit history, we offer Platinum Visa and our CU Rewards program. To apply, visit a
branch or go online to www.sfpcu.org.
Federally insured by the National Credit Union
Administration | Equal Housing Opportunity