October 1, 2015

A Message From The CEO
A few weeks ago, your credit union achieved an important milestone. We surpassed the 30,000 member mark!
Over the years, we have talked a lot about our objective of continuing to responsibly grow our membership and asset base as well as our intent to navigate through all of the economic, political, and industry wide changes with the aim of being a prosperous and relevant credit union for many years to come and well beyond the time many of the other credit unions around us either cease to exist or are inevitably acquired.
Our growth, and the success and opportunities that it generates, also creates change. In your profession, I understand that change is often a red flag. Part of our objective, a big part of it in fact, is to continue to embrace and feature the best parts of our past while integrating more efficient technology, utilizing better resources, and competing with other financial institutions on a more level playing field.
Our identity, our emphasis, and our future is and always has been about the police. Your support and your ongoing patronage have made our success possible and we know that we cannot progress and prosper without your continued support and loyalty.
Our strongest asset continues to be the employees of the credit union who come to work every day, enthusiastically ready and able to serve you. We have taken more frequent and public steps in recent months to demonstrate our support for you, your families, and the valuable work that you do on our behalf. We will continue, to the best of our ability, to support you and serve you well.
Thank you again for your business and your loyal support. It continues to be our pleasure to serve you.

Scott Arney
Interest Rates Unchanged By Federal Reserve!

Typical Chicago bungalow located on the city s southwest side.
Life is all about second chances. Now, with the news that the Federal Reserve did not raise rates, you have a golden opportunity to lock in the lowest mortgage rate possible! 
After a two-day meeting in mid-September, the Federal Reserve announced it would not raise rates at this time.  The next most likely dates that rates may change, according to The New York Times, are December 16, 2015 or March 16, 2016.  
If you have been waiting to purchase the home of your dreams but thought you missed out, you now have another chance to act before rates go up.  Now is the time to take advantage of what could be the final chance to get an historically low mortgage rate.  Whether you are trying to purchase your dream home, looking to lower your monthly payment, or shorten your loan term, we have you covered!  With FHA, VA, and Conventional loan programs with terms from 30 years to eight years and minimal closing costs, it's a perfect time to act! 
Call First Chicago Mortgage Services, a wholly-owned subsidiary of CPFCU, at 312.499.8877, or check them out online at onechicagomortgage.com. Don't forget that second chances like this don't come around too often.  Even if you're just starting to think about a home purchase, let our experts help you through the process and get you started with a pre-approval in hand.  Contact them today!
Trying To Track Down Some Extra Holiday Cash? 
Skip-A-Pay Can Help!

The holiday season is almost here and CPFCU is tracking down some extra cash for our members! We know that holiday expenses can add up. Between travel, gifts and unexpected expenses it's easy to overshoot your budget. That's why we're offering our popular Skip-A-Pay program to help out with some extra cash right when you need it!
Simply apply online at cpdfcu.com between October 5th and November 22nd, 2015. If your application is approved, you will have the opportunity to skip your December loan payments. There is a $30 fee per loan to skip a loan payment, and at least half of that amount will be donated to the Chicago Police Memorial Foundation. Enjoy more cash on hand for the holidays and support the Chicago Police Memorial Foundation through CPFCU's Skip-A-Pay program.
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, First Mortgages, Visa, Overdraft Protection, 10-1, Student, Tuition, Seasonal 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 2015 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. Additional restrictions may apply.

Featured Employee
Lydia Hernandez

Lydia is our exceptional Administrative Supervisor.  Find out about her work experience and favorite vacation on our website! 


Click here to read Lydia's bio.
Planning for the Cost of Health Care In Retirement

Stethoscope tied in a knot around a fist full of moneyHealth care will likely be one of your biggest retirement expenses. You may be planning for Medicare or private insurance to pay for some of these costs, but you'll likely pay a significant portion out of your own pocket. That can have a big impact on your standard of living in retirement.

The good news is people are living longer; the alarming news is pre-retirees have under-estimated the cost of health care in retirement. Understanding what Medicare will cover and what it will not cover is a start.

Assessing what you can generally expect to pay for out-of-pocket and long-term care expenses will be the next step. Finally, creating a plan to address those health care costs will help eliminate the guesswork. Where do you start? Who can help you navigate and fully understand the issues?

Join MAF Companies, partners of The Financial Planning & Education Center, in cooperation with The Chicago Patrolmen's Federal Credit Union and Nationwide for this important seminar:

Thursday, November 5th at 9 a.m. & 3 p.m.
1407 W. Washington Blvd.
The Financial Planning & Education Center
Saturday, November 7th at 10 a.m.
5310 N. Harlem Avenue
East Conference Room
RSVP Today to Reserve Your Spot
Call (312) 499-8888 and select option 1, or email RSVP@cpdfcu.com
Holiday Closings

CPFCU will be closed:

Monday, October 12th for Columbus Day
Wednesday, November 11th for Veterans Day
Thursday, November 26th and Saturday, November 28th for Thanksgiving
Friday, December 25th and Saturday, December 26th for Christmas
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