HOW YOU CAN USE YOUR VISA CARD TO BUILD CREDIT Swipe Wisely, Build Credit

Transcription

1 APB JULY 2015 FINANCIAL SERVICES FOR FIRST RESPONDERS HOW YOU CAN USE YOUR VISA CARD TO BUILD CREDIT Swipe Wisely, Build Credit POSITIVE REFLECTIONS: As of May 31, 2015 Assets... $788,241,786 Loans... $447,037,060 Shares... $672,288,419 Members...36,497 IN THIS ISSUE: Enter Our Everyday Heroes Photo Contest... PAGE 2 Meet Kathleen Litman: Bringing Enthusiasm and Expertise to Her New Role...PAGE 2 Special Olympics Law Enforcement Torch Run... PAGE 3 Take Advantage of Member Discounts this Summer...PAGE 3 SFPCU June Car Sale is a Success... PAGE 4 Current Promotions... PAGE 5 Planning a Home Remodel? Here are Ways to Make it Smoother...PAGE 6 Announcing Our Coloring Contest Winners!...PAGE 6 From renting an apartment to getting a good job, there are many reasons why having a solid credit history is an essential tool of life. Credit cards can play a significant role in your credit record. At SF Police Credit Union, we strive to help our members achieve their financial goals. Using your card wisely can build your credit, opening the door to future opportunities. Here are some tips on using your card to build and sustain good credit. Use restraint when applying for credit. Yes you must use credit to build credit and a credit card is one easy way to start. But don t go overboard with too many credit card applications consider starting with two. One could be our Platinum Visa with no fees for balance transfers or cash advances. It could help put you on the path to good credit if you charge small amounts that you can afford to pay off every month. Avoid using all your available credit. Each credit card comes with a preestablished credit limit. Don t max out your card by using all your available credit. It s far too easy to do, and can turn away potential lenders in the future. Instead, use 10% to 30% of what s available to you. Keep track of your credit. It s smart to check your credit report at least once a year for possible errors. There are three main credit-reporting companies: TransUnion, Equifax and Experian, and you are allowed a free credit report from each every 12 months. Check out for more information. Find us on Facebook! Search for SF Police Credit Union and Like our page today. sfpolicecreditunion SF Police Credit Union Special Limited Time Offer! Now through 8/31/15, new Platinum Visa cardholders will receive a 1.99% introductory APR* on purchases for 6 months, and new and existing cardholders can enjoy balance transfers at 1.99% APR* for 6 months. For full terms and conditions visit /visapromo. * APR = annual percentage rate

2 Enter Our Everyday Heroes Photo Contest Photographers, get ready to show off your skills! SFPCU is holding a photo contest celebrating First Responders who go above and beyond the call of duty in their communities. If you have a snapshot of a First Responder participating in a community or charity event, enter it in our Everyday Heroes Photo Contest for a chance to win $1,000 for your favorite charity and $100 for yourself. Our photo contest is running now through August 31. Selected photos will be featured in an album on our SFPCU Facebook page. As a bonus, your photo may also be selected to appear in a special edition 2016 SFPCU wall calendar! The winning photo will be announced on our website and Facebook on September 30, Entering is easy: ➊ Take a photo of First Responders in action at a community or charity event! ➋ Provide a few details such as the name and date of the event, along with who is pictured in the photo submitted. ➌ Upload your photo submission online at /photocontest. For complete rules, go to / photocontest MEET KATHLEEN LITMAN Bringing Enthusiasm and Expertise to Her New Role This is going to be a year of exciting changes, says Kathleen Litman, new Senior Vice President of Marketing at SF Police Credit Union. With a vision shaped by 27 years of marketing experience in the credit union industry, as well as an MS degree in Marketing, Litman sees SFPCU as an organization poised for growth and driven by a desire to continuously raise the bar on the value it delivers to members. I m pleased to join an organization that already enjoys the benefits of a strong financial foundation, a loyal and engaged membership and dedicated employees. We re in the primary stages of developing a strategic growth plan, one in which Marketing will play a very active role, Litman says. A Philosophy Gleaned from Experience Over the course of her career, Litman has mastered the ropes of marketing in a variety of credit union environments from mid-sized institutions to those with over a billion dollars in assets and for varied fields of membership, including a law enforcement credit union in Southern California. Having previously worked for a police credit union, I can appreciate the uniqueness of our membership as compared to other credit unions. Our members see us not just as a financial institution, but as their financial partner; one that understands the challenges of their profession as First Responders, Litman says. But our members also have high expectations in terms of how we meet their financial needs. They consider us their Credit Union, so it s critical that we meet and/or exceed those expectations. Sights Set on Growth In today s increasingly competitive landscape, credit unions have to work harder than ever to retain members and bring in new ones and marketing is a key component to achieving that goal, Litman says. While our goal is not to grow just to get bigger, growth will enable us to better weather economic downturns, allow us to offer members a wider diversity of products and services, and have the resources to provide more convenience through technology. SFPCU has a strategic growth plan to ensure we ll be growing in a smart way. At SFPCU, Litman will be responsible for the overall branding of the Credit Union, along with membership growth, product mix, promotions, research, website and social media. My mission as a marketer can be distilled into two main things: to educate and communicate, Litman says. I bring to my job a passion for marketing and a love of what makes credit unions unique. 2

3 Call Box Education Committee Members: Leroy Lindo, Mike Mahoney, Carl Koehler A QUARTERLY INSERT TO YOUR APB NEWSLETTER JULY 2015 The Call Box is published with contributions from the Education Committee: Leroy Lindo, Mike Mahoney, Mindy Pengel Special Olympics Law Enforcement Torch Run The San Francisco Police Department held its annual Law Enforcement Torch Run to benefit Special Olympic athletes on June 22 in Union Square in San Francisco. The Torch Run supports the Special Olympics Northern California goal to raise funds to send athletes in Northern California to the Special Olympics Summer Games, which were held June at the University of California, Davis. Chief Suhr kicked off the event around 9:30 am, with John Sasaki, from KTVU News, serving as Master of Ceremonies. Darlene Hong, Vice-President of Relationship Management, served as SFPCU s representative to personally present Chief Suhr with a check for $2,000 to benefit Special Olympics Northern California. In addition to the Special Olympics athlete runners, officers from the Department along with over 100 SFPD recruits from the Academy participated in the run, which proceeded from Union Square down Folsom Street and along the Embarcadero, before ending back at Union Square. Selected participants carried the torch for a portion of the run before handing the torch off to other runners. The event was a success, and SFPCU was proud to help law enforcement agencies throughout Northern California support the athletes of the Special Olympics! L-R: Kevin Reeds, Ed.D (Chief Development Officer for Special Olympics Northern CA & NV), Darlene Hong (SFPCU s VP of Relationship Management), San Francisco Chief of Police Greg Suhr Take Advantage of Special SFPCU Member Discounts this Summer! As a member of SF Police Credit Union, you have access to valuable discounts on monthly data plans through Sprint, exclusive pricing on GM cars, plus hot deals on ticket prices to fun summer destinations such as Disneyland, Six Flags, California Academy of Sciences, Monterey Bay Aquarium and more. It s another great reason to be a member and recommend SFPCU to others. Happy shopping and saving! To discover all the options, go to the Special Discounts page of our website at /membership/special-discounts to see everything that s available. Make sure you note any special eligibility codes required. Check out some of the discounts offered: Sprint up to 15% off a mobile data plan, and get your activation and/or upgrade fees waived (combined savings of $62). Getaway Today Vacations Save up to 20% on Southern California vacation packages and cruises Hertz Rental Cars up to 25% off on Hertz vehicle rentals 3

4 SFPCU JUNE CAR SALE IS A SUCCESS! On Saturday, June 6, 2015 and Sunday June 7, 2015, SF Police Credit Union partnered with SAFEAmerica Credit Union and Cars-Net to sponsor a pre-owned vehicle sales event, which took place at SAFEAmerica s branch in Pleasanton, California. Cars-Net provided 175 vehicles for sale with many makes and models represented, ranging from Mini-Coopers to full-size Chevy, Ford and Toyota pick-up trucks. SF Police Credit Union staff were on site, with the Relationship Management team out in front greeting members, and our lending staff working inside to assist potential buyers in applying for loans to purchase the vehicles they wanted. Turnout for the event was strong, with sales of vehicles beginning immediately upon the start of the event. We are pleased to say that the first sale of the day was to an SF Police Credit Union member at 9:00 AM on Saturday morning! Everyone appeared to be having a good time, and the final sales tally showed that the event was a huge success with 29 vehicles sold over the weekend. Another car sales event at this same location is planned for later this year in October, and dates for sales in 2016 will be publicized in the APB once they re finalized, so stay tuned! SFPCU s President & CEO Eddie Young shakes hands with member Dave H. The first car sold went to the Reyes family. Congratulations on your new car! Thanks to our staff for making the Car Sale a success! L-R: Daniel Powers, Janice Reudy, Natalie Del Sarto, Jennifer Li, Fatima Gonzalez, and Siana Pulliam 4

5 CURRENT PROMOTIONS To learn more about any of these promotions, please call or visit our website at SFPCU PLATINUM VISA 1.99% APR* introductory rate on new card purchases and balance transfers for 6 months No annual fees No cash advance or balance transfer fees * APR = Annual Percentage Rate. Offer valid 06/1/15 8/31/15, purchases and balance transfers must be made during this period to qualify. The Balance Transfer rate of 1.99% APR is valid for 6 months from each transaction date. Offer is only valid for balance transfers from existing credit card balances at other financial institutions. The Introductory rate of 1.99% APR is valid for purchases on new accounts opened during the promotional period, and is valid through your February 2016 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%). 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, contact us for more information. 1.99% APR* Introductory rate on new card purchases and balance transfers VEHICLE LOANS Rates as low as 1.74% APR* Flexible financing terms No payments for 90 days Minimum loan amount of $15,000 or higher * APR = Annual Percentage Rate. Example rate of 1.74% APR with 36 monthly payments = $28.53 per $1,000 borrowed, assumes.25% discount for enrollment in automatic payments (fully indexed rate of 1.99%). Internal refinance will be subject to a 1.00% add on to your qualifying interest rate. Out-of-state vehicles are acceptable on dealer transactions only. Rates, fees and terms are subject to change at anytime, you may contact us for current information at , visit our Rates Page for current rates. Rates as low as 1.74% APR* Simple. Secure. And Free! There are many advantages to switching from paper statements to our free and secure E-statements. Benefits such as: No more clutter from paper statements Delivered securely to you online each month Archived online so you can refer to past statements quickly and easily Signing up is easy just login to Online Banking and click on Statements in the lefthand sidebar. CO-OP ATM NETWORK With your SFPCU Debit Card, you can: Get cash at 30,000 fee-free ATMs, including locations at 7-Eleven, Costco and Walgreens. Plus, SFPCU members have fee-free access to Bank of the West ATMs. With Global ATM Checking, you can use any ATM anywhere you are if another institution charges you, we refund the fees.* SHARED BRANCHES Get access to your SFPCU accounts when you re away from home! Make deposits, withdrawals and loan payments at over 5,000 Shared Branch locations nationwide. To access your account, you ll simply need your account number and a current ID. * Terms and conditions apply, for details visit /noatmfees. 5

6 ENSURE YOUR PROJECT S SUCCESS Planning a Home Remodel? Here are Ways to Make it Smoother The years of hard work you ve spent building equity in your home are finally paying off. The dream kitchen or new landscaping you ve always wanted can become a reality through a home equity line of credit with SFPCU. With credit limits up to $300,000, and rates as low as 4.00% APR*, you ll have a reliable, affordable source of credit to fund your project as it progresses instead of borrowing a lump sum now that could differ from the final total. Having the flexibility of a line of credit allows the expense and scope of your project to vary if needed. However, one area you don t want to see a variance in is the quality of the work done on your home. To avoid having issues after the remodel starts, you need to find a reliable contractor who will work with you from initial estimate through completion. * APR = Annual Percentage Rate. The fixed introductory rate is 3.50% APR for the first 24 months and valid on Owner Occupied Properties only (Investment properties and/or the refinancing of an existing HELOC secured by same property are not eligible). Rates thereafter based on Prime + margin %. As of May 30, 2015, the Prime Rate is 3.25%. The amount of the margin may vary, depending upon individual credit history. Announcing Our Coloring Contest Winners! Congratulations to the winners of our National Credit Union Youth Month Coloring Contest! Age 2-6 category Tips to Find Your Dream Contractor 1. Do your research in advance. If you aren t tied to a specific deadline, you ll have the flexibility and time to find the contractor that s right for you. 2. Stay local. Many problems arise as a result of out of town contractors with no ties to the communities where they re working. 3. Check multiple sources for references. Get recommendations from friends and family, but also check with lumberyards and hardware retailers, plus online resources from the National Association of the Remodeling Industry ( 4. Get it in writing. Good contractors understand that it s necessary to stay on top of key deliverables to keep a project running smoothly. A signed scope agreement gives you a legally binding assurance that your remodel will be finished on time and within budget. If you re ready to get started, apply for an SFPCU Home Equity Line of Credit today by calling or visiting our website. Age 7-12 category 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: /locations SFPCU Online Online Banking / Mobile Banking: 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: SFPCU Contact Information 24/7 Call Center: or MemberLink 24-hour transactions: or Members_Info@sfpcu.org Other SFPCU Services MEMBERS Financial Services: BALANCE SM Program: No-cost Auto Buying Service: HOLIDAY NOTICE SF Police Credit Union branches will be closed: Independence Day Saturday, July 4 Labor Day Monday, September 7 Columbus Day Monday, October 12 For assistance during closed hours, call our 24/7 Call Center at or MemberLink, the 24-hour transaction line, at or ; or access SFPCU Online Banking at. Winner: Alyssa, Age 6 Thanks to the California Academy of Sciences, Alyssa and Isabella each won a Family Four Pack of Academy tickets and other museum-related prizes! Winner: Isabella, Age 12 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: istock, Fotolia SF Police Credit Union Federally insured by the National Credit Union Administration Equal Housing Opportunity