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January 2, 2015

A Message From The CEO

Have you thought about what you are going to do with your retro check?


In this edition of the Roll Call, we provide you with some ideas as to how to best put that money to work for you as well as some thoughts on how you might best be able to achieve your personal financial goals. We have a suggestion or a solution for each unique situation, whether you are paying down debts, making a major purchase, saving, or investing.


While there are many financial decisions for you to make now and throughout the year, the only right decisions are the ones that are consistent with your priorities and your financial goals. So, when you make your list, be sure to think of your Credit Union as your source to check everything off of that list.


If you are paying down debts, we can help you determine which ones to pay off first. If you are going to make a major purchase, no one has better rates and terms than us. If you are going to save or invest your retro pay or any of your money, our representatives and financial planners will skillfully and willingly assist you.


Our sole mission is and always has been to help you and your families achieve your financial goals.


Thank you for your business and your continued support. It is our pleasure to serve you.


May you enjoy a Happy and Healthy New Year!


Scott Arney


5 Tips To Make The Most Of Your Money In 2015 
Get the New Year off to a great start!

1. Set up a budget. 
Use a simple worksheet or an online budgeting tool, like Finance Works, to note how much you're earning, and your regular expenses.  You can use this information to figure out how much "fun-money" you have to work with and to set up your short term and long term savings goals.  Don't forget to take into account all income including your salary, bonuses and additional employment.

2. Stick to your budget. 
You took the time to write down your income, your debts and your financial goals.  You're off to a great start!  However, the best budget won't do anything if you don't follow it!  Keep in mind that as your needs and priorities change, so should your budget.  It is meant to grow with you and help you be in charge of your money!

3. Reward yourself along the way. green-wrapped-present.jpg
Build in some rewards especially for your goals that may take a while.  For instance, if you are working towards a big vacation at the end of the year and you're on track after the first couple months, treat yourself to a new outfit for your trip.  If you're saving up for new kitchen appliances, buy yourself a cookbook when you hit a savings milestone. These little treats will encourage you to keep up the good work!

4. Consolidate if it makes sense to do so.
We are here to assist with this one, so if  you are ever unsure, please give us a call. You can also use our handy online calculators to help you see where you can save. A few key products to look into are:
  • Personal Loans- Currently featuring rates as low as 3.90%, our Personal Loans don't require any collateral and are a great way to consolidate other bills into one manageable payment.
  • Credit Cards- Our Credit Cards are always competitive, but for a limited time only we are featuring balance transfer rates as low as 2.90% on the Copper Card!  The Platinum and Silver Cards feature balance transfer rates of 6.90% and 7.90% respectively.  Our balance transfer promotion will be ending soon, so be sure to take advantage of these great rates while they're still available.  Don't forget, our cards have no annual fees, and no balance transfer fees!  Take a look at the cards that are in your wallet and compare rates, fees and rewards to make sure you're getting the best value.  Call us at 312-726-8814 if you need any help!
  • Refinance or Purchase- Depending on your mortgage rate, it may make sense to refinance your home. If your rent keeps increasing and you are not looking to leave your neighborhood, it might be a good time to look into purchasing a property.  No matter what your needs, our mortgage subsidiary, First Chicago Mortgage Services is here to help.  Feel free to give them a call at 312-499-8877 to schedule your complimentary consultation.

5. Bring in the professionals.
Our Financial Planning and Education Center is available to help all members.  Whether you're looking to repair or build your credit score, or work on your retirement plan.
  • Gwen's Helping Hands offers complimentary credit counseling to members.  Gwen can offer assistance at any branch location, by phone at 312-499-8816 or by email. 
  • Our partnership with MAF Companies allows you to consult a financial planner and get advice that is tailored to your situation.  There is no cost or obligation to meet with an adviser.  Call 312-499-8888 to schedule your free appointment.
 Whatever your hopes are for the New Year, we are here to assist you!

Featured Employee
Jim Bedinger

Jim is the Chief Operations Officer at CPFCU.  Find out one of the reasons he didn't pursue his interest in becoming a Meteorologist by reading his bio on our website... 


Click here to read Jim's bio.

What Will You Do With Your Retro-Pay?

You can spend it. Or, you can make it work for you!
  • Grow your money for retirement income
  • Protect your paycheck with disability insurance
  • Start a college savings plan

The Financial Planning & Education Center is here to help you find the best fit for your funds.  Schedule your free consultation by calling 312-499-8888 or by emailing info@mafcompanies.com.

Holiday Closings

CPFCU will be closed:

Monday, January 19th, Martin Luther King Jr. Day
Monday, February 16th, Presidents Day

New and Used Auto Loan Rates as low as 1.49%
Plus, our Write Your Own Ticket "blank check" auto loan program allows you to negotiate with the confidence of a cash buyer!

Click here to view all savings and loan rates.

Chicago Patrolmen's Federal Credit Union
Federally Insured by NCUA
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