Providing Financial Solutions to Take Care of Our Own

FA L L 2 0 1 9

ALSO IN THIS ISSUE: Tips for Making a Smooth Transition at Retirement | Learning about Phishing Attacks | Law Enforcement Appreciation Night | San Francisco Veteran Police Officers Association Meeting | Financial Technology Tools to Try This Fall | Coming in November — Home Equity Plus

WHAT OUR NEW NAME REPRESENTS

#SFPCUCOVERSTORY

A Strong Foundation to Honor Our Heritage and Ensure Our Future

Since our founding as the SFPD Federal Credit Union in 1953, we’ve steadily thrived due in part to our ability to evolve throughout changing times.

Our ability to carefully grow and continually enhance how we serve our law enforcement and their family members has been a cornerstone of our success through the decades, and remains just as critical today.

1953First branch opened in the old horse stables behind Park Station.

1964The Credit Union welcomes a recruit class with “Welcome Cash” to cover the cost of uniforms and equipment.

1979Photo of Margaret Mahony, a cherished long-time employee who joined the Credit Union in 1968.

In her honor, the Credit Union gives an award each year to an employee with the highest satisfaction rating from members.

In honor of our proud past, we invite you to take a walk with us through our history with photos from our recently created History Wall at our San Bruno branch. We invite all of our members to stop by to visit this homage to our remarkable heritage!

1989The Credit Union moves to Irving Street, located at 2550 Irving Street, San Francisco, CA.

A Grand Opening celebration to mark the opening of Irving Street branch is held, complete with SFPD Lion Dancers, firecrackers, plus we raffled off a 1953 DeSoto!

2000SFPCU offers Online Banking,

named “CU-OnLine”.

We held demo days

for members to get a

lesson in signing on

and transacting their

credit union business.

2019The Grand Opening for the San Bruno branch and Administrative Building is celebrated with staff, members and volunteers.

On July 15, 2019, we took the important step of changing our name to ‘The Police Credit Union of California’. We recognize that our new name represents a major change for our members, especially those in the SFPD.

We pledge that what will never change is our unwavering commitment to always doing what is in the best interest of our members, and the deepest respect for our origins within the SFPD.

A RICHER LIFE

Tips for Making a Smooth Transition at Retirement

Remember that your credit union will always be here for you:

Weighing the idea of relocating to another region of the country when you’re ready to retire from your career in law enforcement? Wherever you go, we are here to support you, and to continue to serve as your preferred financial services provider once you’ve settled in your new location. With our full range of online services, including our convenient mobile app, access to your Police Credit Union accounts is right at your fingertips, anytime, anywhere!

Want to learn more about our suite of online services?

From online banking, bill pay and mobile deposit, you can do all your banking from the convenience of your smart phone, laptop or tablet—and we’re always available by phone through our Contact Center. To learn more about enrolling in these services, go to www.thepolicecu.org.

If you feel you’d like occasional access to a branch or a no-cost ATM, don’t forget that since we’re part of the CO-OP network, you can use over 30,000 surcharge-free ATMs, and visit over 5,600 shared branching locations nationwide. You’ll find all CO-OP and shared branching locations through our search locator tool on our website. And we offer surcharge rebates when you use any non-CU ATM when you have a checking account with any amount of direct deposit*.

As your credit union, we thank you for the privilege of serving you through your time in law enforcement, and we’d be honored to be part of your next life chapter.

*The Police Credit Union will refund ATM surcharges up to $3 per out-of-network ATM transaction. You must have an The Police Credit Union Checking Account in good standing and a Direct Deposit posted to your Checking Account monthly.

Whatever you envision for your retirement, it can be a challenge to prepare for the transition.

If you’re like many of us today, you may also have been anticipating a move toward a second career well in advance of the date you put in your papers. To help smooth the way for a successful transition, a great resource to turn to is the advice of former law enforcement professionals who have gone on to find satisfying and lucrative careers in a new line of work. For inspiration and motivation, we’re highlighting a few tips we’ve gleaned from those who’ve set their own course in both the private and public sector.

Start planning ahead:

On the face of it, this may seem like overly simplistic advice. But as Law Enforcement Today reminds us in “7 Tips for Cops Transitioning to Retirement,” most people don’t prepare for retirement like they do their career. The loss of inherent structure and routine daily personal interactions from any job is often disconcerting, and the constant stimulation and strong camaraderie that is so prevalent in law enforcement can clearly make this change more pronounced. This is one of the reasons it can be so beneficial to start building a framework for a transition to a civilian life before it’s upon you. While you’re still employed, it can be an ideal time to get practical experience as well as network in the fields you want to explore. If you’re considering launching a business, resources such as SCORE can connect you with free business mentoring and education, and the Small Business Administration continues to be an excellent source of helpful information.

Don’t plunge right in to new financial commitments:

Even if you’re confident about your plans for this stage of your life, it’s advisable to hold off on new financial entanglements for a reasonable amount of time, if possible. Another astute point raised by Law Enforcement Today is that you won’t necessarily be able to foresee certain stress factors that come with a major life change. Huge financial decisions are an added strain that are generally best avoided until you’ve made the transition, and are comfortable managing your new income levels.

What the TrickBot Banking Trojan Can Teach Us About Phishing Attacks

FIGHTING FRAUD

This especially virulent form of malware continues to present a major threat to businesses around the world today.

Known as the TrickBot banking trojan, this strain of malware is designed to obtain sensitive personal information like usernames and passwords for online accounts. Typically, it is spread via fraudulent emails made to appear as though they originate from a legitimate organization or person known to the potential victim. Among the various ploys perpetrators have used to get targets to engage are messages marked “unpaid invoice,” bogus emails about an attached resume and requests to process a shipping order. What these ruses tend to have in common is that the attacker will attempt to create a sense of urgency around a critical task that requires sensitive information.

Why are these campaigns still effective?

If you recognize these activities as the operations of an email phishing campaign, you would be correct. What may be less clear is just why these schemes still exact such a high toll in terms of money, time and resources. According to leading cybersecurity experts, the proliferation of phishing

campaigns that successfully deploy malware like TrickBot can at least partially be explained by the fact that cybercriminals are continually shifting and refining their methods. Developers have become highly adept at advancing their programs with new capabilities and functionalities to exploit vulnerabilities in an organization’s network. Attackers also continue to alter strategies they use to trick their targets into divulging login credentials or account information, or opening an infected attachment or clicking on a link to a spoofed website. To further complicate the matter, internet security provider Malwarebytes has asserted that email phishing campaigns today have become “so polished and well-designed that one cannot easily differentiate them from legitimate ones.”

What can you do to avoid being scammed?

As sophisticated and pervasive as these modern day phishing campaigns are, it’s important to keep in mind that the best defense against them is to stay alert and proactive. Train yourself to be wary of any email communication that you aren’t expecting that contains attachments or links. If you have doubts about the authenticity of a message, it’s wise to call the sender to confirm that they intended to send it (at a number you are certain is correct, not the one in the email, text or voicemail). And if you know a message to be a phishing scam, report it directly to the person or organization that is being spoofed. Also consider registering the incident with the FTC at ftc.gov/complaint.

Special Meeting with the San Francisco Veteran Police Officers AssociationOn July 10, 2019, Board members from the San Francisco Veteran Police Officers Association (SFVPOA) met with CEO Eddie Young and our Senior Management team to learn more about the reasons behind our name change, which took place on July 15th.

We greatly appreciated the time that SFVPOA members spent with our CEO and members of our senior management team and felt we had an excellent meeting. On behalf of the Board of Directors and the entire staff of The Police Credit Union, we thank the SFVPOA for joining us on this journey of our strategic vision and the commitment to serving law enforcement throughout California.

Law Enforcement Appreciation NightOn July 18th, credit union employees attended the SF Giants Law Enforcement Night. Proceeds from Law Enforcement Night tickets benefitted both the Bay Area Law Enforcement Assistance Fund (BALEAF) and the California Peace Officers Association Memorial Fund. These organizations provide support to law enforcement families who have experienced a family member who gave their lives in the line of duty.

This year was especially important to the credit union, as we wrapped up celebrating 65 years of financial service to law enforcement and the transition to our new name. We decided as an organization to pay tribute to our law enforcement heritage by purchasing 115 tickets so all our employees could attend the special night.

In addition to purchasing tickets, employees from our Membership Development department along with other departments volunteered for the annual tailgate preceding the game. It was a win-win event! We had a wonderful time supporting our law enforcement heroes and the Giants came out with a win in the 16th inning!

GIVING BACK

CALL BOX

ASK AN EXPERT

Q. Why is the Credit Union recommending that I no longer use Internet Explorer (IE) as my web browser?

A. In a word, security. Keeping your information safe is our top priority. An important part of keeping your information and devices secure is using a web browser that provides regular security updates. Microsoft has announced that

it will stop providing security updates for all versions of IE in January 2020, and has been notifying users that they should migrate to different web browsers. In line with their recommendation, we are ending support for IE, and members of The Police Credit Union will no longer be able to log in to Online Banking from Internet Explorer after January 14, 2020. We are encouraging our members to upgrade to a fully supported web browser such as Microsoft Edge, Google Chrome, Firefox, or Safari (Mac) before this date.

Secretary Larry Barsetti (right) from The San Francisco Veteran Police Officers Association (SFVPOA) and CEO Eddie Young (left) next to our new Heritage Wall honoring the proud history of SFPCU.

INNOVATIONS

Cool Financial Technology Tools to Try This Fall

From apps that automate investments to those that enable you to easily split your vacation expenses without the usual friction, we’re highlighting a few of our favorites to try this fall:

Put spare change to work for you with Acorns For those who want a low-cost, no-fuss way to invest their pocket change, Acorns can be a great place to begin. For a fee starting at $1 per month (free for college students with certain restrictions), Acorns automatically rounds up purchases on your linked debit or credit cards to the next dollar and deposits the difference in one of six exchange-traded funds (ETFs) of your choosing. For instance, if you pay $3.50 for a large coffee drink using a linked card, the app will invest the remaining $.50 for you. In simple terms, EFTs are broad holdings of stocks or bonds that commonly replicate an asset class or index like the S & P 500 or Dow Jones Industrial Average.

Try unbury.me to uncover the best path to being debt-free

Although this secure loan calculator has been around since 2011, it was fully redesigned in 2016 for enhanced

functionality. Using your current balances and payments, unbury.me shows you the best plan to minimize interest and eliminate debt as soon as possible. The calculator offers a movable slider bar that enables you to see how altering your monthly payments will reduce the time it will take to pay off debt and save on interest.

Earn gift cards for the holiday shopping that you’re planning to do

With holiday shopping ramping up, it seemed fitting to include one of the most popular shopping apps here. Before you start knocking out your list, be sure to download the Shopkick app, which lets you earn free gift cards in-store or online for several shopping-related activities. You’ll accumulate points (called “kicks) for several different activities, including: walking into stores, scanning product barcodes, buying certain items, submitting receipts and referring others to Shopkick.

Easily split bills with Venmo

You’d be hard pressed to find a person who hasn’t, at one point or another, experienced the distress, irritation or discomfort that comes with settling a dinner bill for a large party, collecting money for a shared gift or ensuring that everyone pays their share for a vacation rental. With the digital wallet Venmo, much of the potential stress around shared bills can be eliminated. Free to use with many payment methods (3 percent fee applies to credit cards), the app lets you easily make and receive payments from anyone with an account.

Improve overall money management with MoneyTrac

In the final analysis, one of the most effective ways to improve your finances is to get a clear sense of your overall position and set realistic goals based on where you currently stand. Using a personal financial management tool such as our MoneyTrac tool you can easily combine financial data from all of your separate accounts into one dashboard with real-time updates. This way, you get a complete snapshot of your finances at any given point in time. Free for all members of The Police Credit Union, this app makes it simple to securely track and monitor spending, create and maintain a budget, manage debt, set goals and more. Find out how easy it is to get started at  http://bit.ly/ThePoliceCreditUnionMoneyTrac.

FEDERALLY INSURED BY THE NATIONAL CREDIT UNION ADMINISTRATION | EQUAL HOUSING OPPORTUNITY

Financial Highlights (August 31, 2019):

Assets ........................................ $929,521,424Loans ....................................... $636,698,483Members ................................................ 41,475

Contact UsBranch and ATM Locations:thepolicecu.org/locations

Website:thepolicecu.org

Email:Members_Info@thepolicecu.org

24/7 Contact Center:800.222.1391 or 415.564.3800

MemberLink 24-hour transactions:800.871.3419 or 415.242.2124

facebook.com/thepolicecu

@thepolicecu

Search for The Police Credit Union

Read our blog, The Watch at thepolicecu.org/blog

WHAT’S NEW @ SFPCU

*APR=Annual Percentage Rate. The fixed introductory rate is 4% APR for the first 12 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 September 4, 2019, the Prime Rate is 5.25%. The amount of the margin may vary, depending upon individual credit history, loan to value ratio and other factors. All new applications 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 subject to change at any time. For current rates, contact us at 800.222.1391.

Introducing Home Equity Plus

New Home Equity Line of Credit Coming Early November!

We know having a reliable partner is important. When it comes to putting your home’s equity to work for you, you have two very reliable partners: The Police Credit Union and now Home Equity Plus! That’s why we’ve redesigned our prior HELOC to make it a better value for our members.

Use the equity in your home to help you pay for a home remodel or repairs, unexpected expenses or as a smart way to consolidate debt.

Check out the new features:

• 12 month fixed intro rate of 4.0% APR*

• Credit limits up to $500,000

• Owner Occupied up to 85% CLTV

• No origination or annual fees

Schedule a No-Costconsultation today with Chris Breault, FinancialAdvisor at 415.682.3361 oronline at www.thepolicecu.org/mfs.

Knowledgeable in:• Investment Management• Deferred Comp/DROP Rollovers• Retirement Income Planning• Long Term Care• Portfolio Assessment• Life Insurance