Live AND Save

Facebook

Comments Box SVG iconsUsed for the like, share, comment, and reaction icons
Cover for National Police Credit Union
It’s Official—We’re Becoming National Police Federal Credit Union! 
🚓What’s in a name? For us, it’s a reflection of growth and dedication!

On January 1, 2025, National Police Credit Union will transform into National Police Federal Credit Union. While the name is new, our mission remains unchanged: empowering law enforcement families with the best financial services. Curious about the “why”? Don’t worry—we’ve got all your questions covered in our FAQ. Join us as we embrace this exciting new chapter!

Learn more: https://conta.cc/3ZVurgv

It’s Official—We’re Becoming National Police Federal Credit Union!
🚓What’s in a name? For us, it’s a reflection of growth and dedication!

On January 1, 2025, National Police Credit Union will transform into National Police Federal Credit Union. While the name is new, our mission remains unchanged: empowering law enforcement families with the best financial services. Curious about the “why”? Don’t worry—we’ve got all your questions covered in our FAQ. Join us as we embrace this exciting new chapter!

Learn more: conta.cc/3ZVurgv
... See MoreSee Less

1 week ago
Division President Jim Bedinger attended the Kansas Sheriffs Associations Fall Conference on November 20 in Mulvane, Kansas.

Division President Jim Bedinger attended the Kansas Sheriffs' Association's Fall Conference on November 20 in Mulvane, Kansas. ... See MoreSee Less

2 weeks ago
🎉Same Mission, New Name! Mark your calendars—January 1, 2025, marks a new chapter for us! We’re excited to share that National Police Credit Union will officially become National Police Federal Credit Union!  

Rest assured, while our name is changing, our promise to support law enforcement families remains as steadfast as ever. Wondering why the change? Check out this announcement to get the full scoop. Together, we continue to grow and serve.
Read more: https://conta.cc/3ZVurgv

🎉Same Mission, New Name! Mark your calendars—January 1, 2025, marks a new chapter for us! We’re excited to share that National Police Credit Union will officially become National Police Federal Credit Union!

Rest assured, while our name is changing, our promise to support law enforcement families remains as steadfast as ever. Wondering why the change? Check out this announcement to get the full scoop. Together, we continue to grow and serve.
Read more: conta.cc/3ZVurgv
... See MoreSee Less

2 weeks ago

We have some exciting changes on the horizon! Starting January 1, 2025, National Police Credit Union will proudly become National Police Federal Credit Union!

While our name is evolving, our unwavering dedication to law enforcement officers and their families remains stronger than ever.

Curious about the change? Explore our announcement for all the details.

We’re the same trusted institution you’ve relied on—just with a fresh new name! Learn more: conta.cc/3ZVurgv
... See MoreSee Less

3 weeks ago

We are proud to highlight the Griffith, IN Police Department. It was great to connect with Greg Mance, Chief of Police, about the history of the department and its commitment to the community. #PromoteThePatch ... See MoreSee Less

3 weeks ago
Honoring those who served. This Veterans Day, we remember the courage, sacrifice, and dedication of our veterans. Thank you for your service. #VeteransDay #HonoringHeroes #ThankYouVeterans

Honoring those who served. This Veterans Day, we remember the courage, sacrifice, and dedication of our veterans. Thank you for your service. #VeteransDay #HonoringHeroes #thankyouveterans ... See MoreSee Less

1 month ago
Check out this opportunity to join our team in Akron, OH!

Check out this opportunity to join our team in Akron, OH!We're Hiring: Branch Representative (Part-Time)

Take the next step in your career and be part of a supportive team that makes a difference. Learn more: akfirepolicecu.com/careers/

#JobOpportunity #Hiring #CreditUnion #Teamwork #CustomerService
... See MoreSee Less

1 month ago
Happy National First Responders Day! Thank you for your service, dedication, and sacrifice. #FirstResponders #ThankYou

Happy National First Responders Day! Thank you for your service, dedication, and sacrifice. #FirstResponders #thankyou ... See MoreSee Less

2 months ago
🚨 Meet the Hosts! Get to know Deputy Scott Brown and Victoria Newman, the voices behind the “Facing Evil” podcast. Learn more about their journey and what inspired them to share this story. Visit FacingEvilPodcast.com. 🎙️ #TrueCrime #PodcastHosts

🚨 Meet the Hosts! Get to know Deputy Scott Brown and Victoria Newman, the voices behind the “Facing Evil” podcast. Learn more about their journey and what inspired them to share this story. Visit FacingEvilPodcast.com. 🎙️ #TrueCrime #PodcastHosts ... See MoreSee Less

2 months ago

📚 Must-Read Book! Before the podcast drops, check out “Facing Evil: A Cop’s Story of Murder, Mayhem, and the Aftermath” on Amazon. Get the full story behind the podcast. 📖🔗 FACING EVIL #TrueCrimeReads #FacingEvilBook

www.amazon.com/Facing-Evil-Murder-Mayhem-Aftermath/dp/B09HFT9H9S/
... See MoreSee Less

2 months ago

🎥 Trailer Alert! Have you seen the trailer for the “Facing Evil” podcast yet? Watch it now at FacingEvilPodcast.com and get a sneak peek into the chilling story. 📽️✨ #PodcastTrailer #TrueCrime ... See MoreSee Less

2 months ago
📅 Countdown Begins! Only five days until the launch of the “Facing Evil” podcast! Get ready to dive into a gripping true crime story. Visit FacingEvilPodcast.com to sign up for episode release notifications. 🎧🔍 #FacingEvilPodcast #TrueCrime

📅 Countdown Begins! Only five days until the launch of the “Facing Evil” podcast! Get ready to dive into a gripping true crime story. Visit FacingEvilPodcast.com to sign up for episode release notifications. 🎧🔍 #FacingEvilPodcast #TrueCrime ... See MoreSee Less

2 months ago
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

2 months 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 months ago

Latest Tweets

Feed Them Social: TikTok Feed not loaded, please add your Access Token from the Gear Icon Tab.

Live AND Save

Save as if you are going to live forever.  Live as if you only have today.

Too often, we find ourselves doing one or the other and that just doesn’t work.

If you save as if you are going to live forever, but you forget to enjoy your life and live it to the fullest, you may have plenty of money, but you will have missed out on valuable experiences and many of the rewards of working hard and being responsible.

If you live as if you only have today, but you do not save, you better plan on working on your last day because you won’t have any money to spend anyway.

Like so many things in our lives, it boils down to balance…achieving the right mix between taking responsibility and having fun, planning and leaving time for spontaneity.

This is a particularly relevant topic these days given the uncertain economic times we have been in and will probably continue to face for several more years.  If you are thinking about retiring or you plan on doing so in the next 5 years, you are probably very concerned about what your future will hold.  Unfortunately, there are no magic answers, but if you have a plan and you have followed that plan, then chances are you will be just fine in your golden years.

Whether times are good or challenging, sound financial plans are going to carry the day.  It’s just easier to relax and not worry when times are good.  If you have lived within your means, adhered to your budget, and set money aside for future needs, you should take a deep breath.  Everything is going to be okay no matter how rotten the economy is, but if you have not done those things and retirement is beckoning, you have some additional steps to take.

A common mistake in retirement planning is to assume that you will be able to change habits and make do with less once you are no longer working full-time.  The fact is that if you have spent your whole life living a certain way, you will simply not be able to change your ways just because you are no longer working.  Planning for retirement and saving your money is a skill, not unlike learning to fly a plane or run a restaurant.  You probably don’t believe that you could jump into the seat of a 747 and fly it without any training.  Most people don’t think they can run a restaurant just because they have eaten in one.  Retirement planning is no different so forget the idea that you will simply adjust your spending habits or your living needs.

It would be a much better exercise to reasonably project what your expenses will be and what you would like to accomplish during your retirement, then try to figure out how you will make it work.  This, of course, is much easier to do if you took the time to develop a plan earlier in your working career, however, as long as you are still in the planning stages it is not impossible to come up with a plan late in the game as long as you are open to what the solutions will be.  For example, you may have to be prepared to work longer than you had originally thought.  You will almost certainly have to start working on new saving habits if you didn’t already have an established savings goal, but these are problems with a solution and that is good news for anyone facing any type of challenge.  The real worry is when you face a problem for which there is no solution.

Another common mistake in retirement planning is underestimating the impact of the changes that will occur in your expenses and needs as you get older.  Your retirement age plays a big role here.  If you plan to retire at a younger age, be sure to account for higher insurance premiums and lower social security benefits.  If you retire at an older age, you should be prepared for higher overall medical expenses and potentially higher taxes as you gain access to retirement funds.

Additionally, many people mistakenly believe that one source will carry them through their retirement years.  Some people think that their social security benefits will cover their needs.  Others believe that if they have a pension, it will be enough to ensure that their financial needs are met when they are no longer working full-time.  They may be right, but why risk it?

An essential part of financial planning is the back-up plan, the part of the plan that you rely on when things don’t go exactly the way that you thought they would.  Heading into retirement and needing everything to be what you planned for it to be does not sound like a very realistic or dependable strategy.  You will greatly increase your peace of mind and your chances for a successful retirement if you have a contingency source or back-up funds.

Lastly, don’t assume that you will not live a long and fulfilling life.  Our life expectancies are constantly rising.  Embrace the thought of a long life, don’t bet on a shorter one and then end up disappointed because you are out of money.  When you are looking at your plan and determining how reasonable it is for your needs, be sure to include plenty of happy retirement years for your self.

The common theme in a strong financial plan is to develop one as early in your life as possible.  Prepare as early as you can without losing sight of today.

Make adjustments as necessary, but allow yourself to enjoy the full rewards of your hard work and fiscal discipline.  A well thought out financial strategy that is tailored to you and your lifestyle is going to carry you through all different types of challenges and set you up nicely for a happy retirement.

If you haven’t taken the needed steps, don’t live in the past and dwell on what might have been, take charge of your situation and make every day your own going forward.

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

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.

Share This Post

Recent Posts

Serial Decisions
I am sure that you have read an article or listened to a reporter outline a story that included a reference to the source or sources responsible for the information being reported.
thumbnail
No matter how experienced you may be in your chosen field, you will never know all that there is to know.
STOP!
Before you purchase that new car, check the Credit Union website to see if we can beat that rate!

Subscribe to our Newsletter

We’d love to add you to our mailing list.