Why You Should Belong to a Law Enforcement Credit Union
As a Law Enforcement Officer or family member, are you a member of a Law Enforcement credit union? If not, you should be! There are several reasons why.
Appreciation: You do not have to question whether a Law Enforcement credit union appreciates you and the seemingly thankless job that you do. You are the reason the credit union exists. Can you say the same of any other bank or credit union? Are you sure they are active supporters of Law Enforcement? A Law Enforcement credit union most likely was started years ago by a group of like-minded fellow Officers, who pooled their money together for the benefit of themselves and other Officers. The credit union’s Board of Directors is usually comprised of volunteer sworn and retired Officers who have your financial needs in mind and share your unique values.
For You: Law enforcement credit unions have all the products you would expect from a financial institution. However, they also have products tailored specifically to their sworn members. One huge differentiator for some Law Enforcement credit unions is their complimentary Killed in the Line of Duty Loan Protection. When a sworn peace Officer obtains a qualifying loan with the credit union, the credit union buys this coverage on their behalf, so it costs the Officer nothing. The rest of the time they are employed, they are covered, even if they pay the qualifying loan in full. If, God forbid, they suffer a line of duty death, then any loans that they have with the credit union are completely forgiven, including mortgages, for up to $850,000 in loan balances. This complimentary coverage can only be offered by first responder credit unions. Other specific products include Police Mortgages, uniform loans, police- themed debit and credit cards, Write Your Own Ticket auto loans, amongst others. We even have products tailored to Police Associations and Law Enforcement Groups to help them save money and avoid the expensive fees that banks like to charge those organizations.
Save Money: Law Enforcement credit unions typically have better rates that help you save money on lending products like auto loans, mortgages, and credit cards. In addition, we offer great savings rates that encourage you to save for emergencies, special occasions, and retirement.
You are serving your Law Enforcement community by doing so: All credit unions are not-for-profit financial cooperatives owned by their members. Law Enforcement credit unions give back to their Law Enforcement communities, via support and donations to police-related organizations and causes. We also raise and support community awareness via social media of all the great things that Law Enforcement Officers do every day, which is often ignored by the media. By using a credit union’s financial services, you are helping to sustain and grow an organization that gives back directly to its Law Enforcement community in return.
They know you: A Law Enforcement credit union understands the unique challenges that Law Enforcement Officers face and they provide solutions to those challenges. From Financial Wellness training, complimentary and confidential credit counseling, homebuying seminars to retirement planning, a Law Enforcement credit union is there to support you throughout your career. We also have access to several other support services a Law Enforcement Officer may need, from confidential crisis counseling and identity theft protection, to training for a career after Law Enforcement.
If you have access to a Law Enforcement credit union, join it! If you do not, contact National Police Credit Union at 312-499-8810 and we will see if you are eligible to join one. A Law Enforcement credit union can and will make a huge difference for you and your family.
Jim Bedinger
Division President
National Police Credit Union
