Economic Freedom

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Jim Bedinger and Vivian Abraham attended the FOP Great Lakes Coalition meeting held in Indianapolis, IN, on October 3- 4, 2024.

Jim Bedinger and Vivian Abraham attended the FOP Great Lakes Coalition meeting held in Indianapolis, IN, on October 3- 4, 2024. ... See MoreSee Less

5 days ago
Today is National Thank a Police Officer Day! Wed like to take a moment to express our gratitude to the brave men and women who protect and serve. Thank you for your dedication and commitment to keeping us safe. #NationalThankAPoliceOfficerDay

Today is National Thank a Police Officer Day! We'd like to take a moment to express our gratitude to the brave men and women who protect and serve. Thank you for your dedication and commitment to keeping us s#nationalthankapoliceofficerdayerDay ... See MoreSee Less

3 weeks ago
Thank you for 30 years of service!! And counting …
Stay safe!

Thank you for 30 years of service!! And counting …
Stay safe!30 years and counting!

Denise Sledge has been a valuable part of the OCSO Communications team for three decades! Thank you for your dedicated service and for answering the call for so many years! We appreciate you!🌟👏
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1 month ago
Great work Officer Harris and K-9 Rocky! Thank you! Stay safe.

Great work Officer Harris and K-9 Rocky! Thank you! Stay safe.Great work Officer Harris & K9 Rocky and congratulations on being the District 5 Officer of the Month!!!
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Congratulations to Officer J. Harris and K9 Rocky of District 5, C Squad, who are being recognized as this month’s Officer of the Month.

Officer Harris recently completed a four-week K9 Handler course with his new partner, K9 Rocky. While attending K9 Handler school, Officer J. Harris and K9 Rocky conducted rigorous training to master working as a K9 Team. The curriculum is designed to equip handlers with the expertise needed for effective law enforcement. The curriculum focuses on narcotics detection, tracking, and evidence locating. Officer J. Harris and K9 Rocky have quickly become a unified team. Their combined efforts have led to the successful locating and apprehending of three suspects wanted in connection with felony incidents. Officer J. Harris and K9 Rocky have recovered not only two discarded firearms from fleeing suspects but also other discarded evidence pertinent to the crimes currently being investigated. Their work, including assisting with K9 callouts and routinely responding to 9-1-1 calls, has significantly contributed to maintaining public safety.

Thanks to Officer Harris and K9 Rocky for your hard work and dedication to protecting the Durham community. Excellent work!
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1 month ago
Great picture! Thank you, Deputy King and K9 Vito! Stay safe.

Great picture! Thank you, Deputy King and K9 Vito! Stay safe.Don’t mind us as we carry around "ruffly" 90 lbs. of K9 love.
Happy National Dog Day from Deputy King and K9 Vito!
#nationaldaydog🐾

📷 Nevada County Sheriff's Office
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1 month ago
We will Never Forget.

We will Never Forget.The Chicago Police Department offers our condolences to the family, friends, and coworkers of Police Officer Austin Machitar of the San Diego Police Department who sadly lost his life in the line of duty on August 26, 2024. Officer Machitar's partner was also injured in the crash and is currently listed in critical condition. Our thoughts are with the officers and their families. ... See MoreSee Less

1 month ago
Thank you, K-9 Haywire! Enjoy your well-deserved retirement with your handler, and stay safe!Image attachment

Thank you, K-9 Haywire! Enjoy your well-deserved retirement with your handler, and stay safe! ... See MoreSee Less

1 month ago
Great job! Thank you! Stay safe.

Great job! Thank you! Stay safe.Earlier today, when a kitten in Staten Island fell through the grates of a storm drain, concerned residents reached out to your NYPD cops. NYPD Special Operations ESU officers responded, and with help from NYC Department of Environmental Protection, they successfully brought the cat back to safety so it could dry up in today’s warm sun. ... See MoreSee Less

1 month ago
Welcome, K9 Raider and K9 Titan! Stay safe!

Welcome, K9 Raider and K9 Titan! Stay safe!Join us in welcoming K9 Raider and K9 Titan! 🐕

“The Gwinnett County Police Department is proud to introduce two new K9's into service. After completing their training in North Carolina, Raider and Titan will both begin work in the county. Titan will work with Cpl. Bartkowiak and Raider will work with Officer Copley. Both dogs are 2-year-old Belgian Malinois.”
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1 month ago
Congratulations! Thank you! Stay safe.Image attachmentImage attachment+1Image attachment

Congratulations! Thank you! Stay safe. ... See MoreSee Less

1 month ago
Hello, K9 Diesel and Officer Ryan Coll! Thank you! Stay safe.

Hello, K9 Diesel and Officer Ryan Coll! Thank you! Stay safe.Meet K9 Diesel and Officer Ryan Coll of the Metropolitan Nashville Police Department . Diesel is a half Belgian Malinois and German Shepherd and will be 4 on his next birthday. When he’s not working, Diesel LOVES spending time relaxing with his human siblings and mama at home. Photo by Erik Larson. ... See MoreSee Less

1 month ago
Congratulations and thank you! Stay safe!

Congratulations and thank you! Stay safe!Congratulations to Officer Dalton Koch!

We are proud to announce that Officer Dalton Koch has been selected as the O'Fallon Police Department's Officer of the Month for July. This recognition is a testament to his dedication, hard work, and commitment to serving our community. Please join us in congratulating Officer Koch on this well-deserved honor! 👏👮‍♂️
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1 month ago
Congratulations and thank you! Stay safe.Image attachment

Congratulations and thank you! Stay safe. ... See MoreSee Less

1 month ago
Welcome!! Thank you! Stay safe.

Welcome!! Thank you! Stay safe.We welcomed a new recruit class at the Lexington Police Department Training Academy this week! For the next 30+ weeks, the recruits will cover topics that will help them Set the Standard.

Please join us in welcoming Recruit Class 08-2024 and thank them for choosing to serve our community!
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1 month ago
Great job, K9 Milo!!!! Thank you!

Great job, K9 Milo!!!! Thank you!Good Boy K-9 Milo 💙👏
#thankyouforyourservice

"K9 Milo of the Colorado Springs Police K-9 Unit was off duty this past Friday but that didn't stop him, or his Handler, from assisting with the capture of a fugitive.

Thank you Milo for doing such a great job which meant that everyone went home safe!"

📷 Running 4 Heroes- K9s
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#heroes #policedog #k9 #k9officer #workingdog #malinois
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1 month ago
Thank you, Officer Horvath, for your many years of service!!!!
Stay safe!

Thank you, Officer Horvath, for your many years of service!!!!
Stay safe!Congratulations to Officer Jason Horvath on celebrating 20 years of dedicated service with the Wentzville Police Department!

With 26 years in law enforcement, Officer Horvath has been an integral part of our team. From his work as a K9 Officer, Detective and service in the Cyber Crime Unit and now serving as a School Resource Officer for over 11 years, his commitment to our community is unmatched. As the lead advisor for the WPD Explorer Program, he's made a significant impact on the youth in our community. He's also been recognized multiple times, earning Employee of the Quarter twice and receiving the Optimist Club Award for his outstanding contributions to youth in the community.

Thank you, Officer Horvath, for your dedication and service! We are proud to have you on our team.
#WentzvillePD
#WPDServiceAwards
... See MoreSee Less

1 month ago
#HEROES!!!!
Thank you! 💙💙💙💙

#heroes!!!!
Thank you! 💙💙💙💙🐶𝗚𝗢𝗢𝗗 𝗡𝗘𝗪𝗦 𝗦𝗨𝗡𝗗𝗔𝗬🐶

Detectives from the Special Victims Section recently discovered six abandoned puppies on the side of the road. Covered in dirt and riddled with fleas, the puppies were quickly rescued!
Thanks to the swift action of our detectives and colleagues in the Criminal Investigations Division, the puppies have found loving homes. We’re proud of our team’s dedication and compassion!
... See MoreSee Less

1 month ago
Thank you! Stay safe!

Thank you! Stay safe!👏👏👏👏
Congratulations to Officer Michael Grund on achieving his one-stripe milestone, signifying 5 years of law enforcement service.

Officer Grund joined the Wausau Police Department in 2019 after graduating from the criminal justice academy at Northcentral Technical College in Wausau. Aside from his time with patrol, Officer Grund served as one of our Field Training Officers and is now a member of our Community Resource Unit, tasked with addressing neighborhood issues in our city. Thank you Officer Grund for choosing to serve our community and being a big part of our success as an organization!

*Background of Service Stripes: For every 5 years of law enforcement service, we present our staff with a gold service stripe to be worn on their long-sleeve uniform. Service stripes are small, but each stripe is significant and symbolizes a tremendous amount of positive impacts each officer has made in our community
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1 month ago
Congratulations! Thank you! Stay safe!Image attachmentImage attachment+1Image attachment

Congratulations! Thank you! Stay safe! ... See MoreSee Less

1 month ago
Congratulations! Thank you! Stay safe!

Congratulations! Thank you! Stay safe!CONGRATULATIONS to Officer Nicholet Gonzalez and Officer Madeleine King who graduated from Sauk Valley Police Academy BLE-5. ... See MoreSee Less

1 month ago

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Economic Freedom

Arguably, the greatest freedom of all is the freedom of choice, the power to make your own decisions and command your own destiny.

Amongst all of the decisions that you can make in your life, your financial decisions typically have some of the largest impacts, positive or negative, on the quality of your life and the options that you will have available to you.

We recently faced an unprecedented convergence of economic challenges…depreciating home values, a plunging stock market, record levels of consumer debt, unemployment, a rise in inflation, high fuel prices, and restricted access to credit at the consumer and institutional levels.

While there are still issues and concerns that must be addressed, many economic indicators have fortunately stabilized.  Rest assured, however, that we will face further uncertainty and economic turmoil in years to come.

When challenges arise and economic uncertainty looms, virtually all of the volatility that is created in the financial marketplace is driven by two factors, fear and rampant speculation.

If you are somebody who is fearful and full of anxiety about your finances, do you also feel helpless and lost about what to do?  Can you imagine how great it would feel to be free of your fear and to experience peace of mind relative to your finances?

It is more important now than at any time in the last 75 years to make good financial decisions that will help you to achieve your own economic freedom and minimize any restrictions that will keep you from realizing your financial goals.

Make no mistake about it.  You can enjoy economic freedom no matter how much money you make and regardless of what your financial situation has been in the past.  You and your own actions will be the sole determinants of whether or not you achieve financial strength and soundness.   Conversely, if you do not set financial goals for yourself and get on the path that leads to the achievement of those goals, it will be your fault and your fault alone.

The peace of mind that comes with not having to worry about your finances during difficult times can be yours and the tools that will help you obtain it already exist.

When I was researching information for this article and trying to determine how best to summarize the steps you need to take to achieve personal economic freedom, I realized that we had already discussed the ten most important things that you can do to realize your life’s goals and to best prepare for uncertain and challenging economic times.  Because of this, much of what I will highlight in this article will be a summary or a reference to information in previous articles.

If you have been following along and have taken the steps that we have previously outlined, this will be a great time to check your work and fine-tune your plan if necessary.  If you have not taken the steps that you should have to prepare for what you may currently be facing or will possibly face sometime in the future, it is not too late to take the sting out of your current situation and better prepare for the next time.

 

1.   Create a Plan

Begin by honestly assessing your financial situation and determine what you have been doing and what you have not been doing.  Figure out what you know and what you don’t know and then devise a plan that builds on your strengths and addresses your weaknesses.  As an example, if you have not been as organized as you should have been and as a result have not balanced your checkbook regularly, make sure that part of your plan includes a regular review and balancing of your checkbook.  Then,  commit to that plan.  A successful financial plan must contain realistic, attainable action steps as well as measurements and checkpoints to ensure you stay on track.

 

2.   Develop and Follow a Budget

Clearly define your income and your expenses.  For the purposes of your budget, your income is not your gross salary, it is your actual take home pay. For this exercise to be of value, being specific and precise is a must especially as it relates to your expenses.  The more detailed that you can be about your exact expenses, the more confident  you will be about your numbers and what you will have left to save.  Once you have developed a budget, follow it.  It will take discipline on your part, but the reward is great, namely that you will be taking a big step toward commanding your own financial destiny.

 

3.   Become Credit Wise

The single biggest factor in determining your ability to borrow money and qualify for the best borrowing rates is your credit rating, specifically your credit score as reported by the three main credit bureaus.  The credit rating system is notoriously difficult to understand and susceptible to errors and inaccuracies so you will be way ahead of the game if you take the time to understand your credit report, the components of your credit score, and what you can do to ensure that your rating is as accurate and as strong as possible.

 

4.   Perform Credit CPR

To the extent that you identify inaccuracies or legitimate weaknesses in your financial standing, perform the necessary tasks to take corrective action.  In this case, CPR can be defined as strong Communication with relevant parties, sound Planning, and a commitment to Resolve any and all matters.

 

5.   Set Your Financial Priorities

Now that you have taken the steps that form the foundation of your future financial strength and your in-depth financial knowledge, it is time to determine exactly what your priorities should be.  If you have more debt than you are comfortable with, then the first order of business should be to pay off that debt or bring it down to a more reasonable level.  If your debt and expenses are in order, your priority should be to maximize your savings.

 

6.   Establish Goals and Incentives

Once your plan is in place and your priorities are in order, the next step is to establish your goals and the rewards you will reap when those goals are achieved.  As is the case with each of these steps, the goals that you set will be personal to you and will only be helpful if they are meaningful to you and attainable.  Setting the incentives is just as important because they will play a key role in your level of motivation to achieve your goals.

 

7.   Create Reinforcing Habits

Particularly when it comes to saving, but certainly in every aspect of your own financial management, you will benefit from making habits out of the actions you are taking and repeating.  Your plan is in place and it is based on accurate information.  You have set your priorities and established your goals.  The best way to reinforce this behavior is to make it second nature.

 

8.   Build Wealth

When you have realized the importance of saving, the next logical step is to go out and actually build wealth and there remains only two legitimate ways to do it.  You must either obtain ownership of something (i.e., real estate, stock, business, etc.) and/or build passive income; that is income that you generate that is not directly reliant on your labor or task completion (i.e., interest, dividends, appreciation).

 

9.   Insulate Yourself From Recessions

There are several things that you can do to lessen the impact a downturn in the economy can have on your finances in terms of preemptive measures and preparation.  If you have not completed the previous steps then these measures will be a lot less effective.  Once you have prepared for these times, you have essentially completed your path to economic freedom and you will find a peace of mind relative to your personal financial situation that will be both inspiring and liberating.

 

10. Trust Your Instincts and Stay Curious

At this point, you have completed all of the steps and have clearly learned how to make good, sound financial decisions.  You are following your own path and realizing power and command that previously seemed unreachable. You have all of your financial matters in order.  Enjoy the benefits of your commitment to this process by sticking with the decisions and choices that you have made, but do not rest on what you have already accomplished.  Stay curious, keep asking questions and answering your own challenges, and remain open-minded so that you are able to make adjustments to your plans and objectives as necessary.

So, follow these steps and keep the faith. Your Economic Freedom is at hand.

And, don’t forget, members of the Credit Union enjoy free and confidential Credit Counseling and Financial Planning through our Financial Planning and Education Center. We are here to assist you every step of the way.

Scott Arney
Chief Executive Officer
Chicago Patrolmen’s Federal Credit Union

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