Managing Your Finances: Fact or Fiction

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Happy birthday, K9 Apollo! Stay safe!

Happy birthday, K9 Apollo! Stay safe!We said yesterday there was another birthday boi coming up!! Today is K9 Apollo’s 2nd Birthday!!

Not often that you have back-to-back birthdays of such good bois!!!! Everyone wish K9 Apollo the happiest of birthdays!

#k9 #birthdayboi #birthdaycelebration
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2 days ago
Thank you!
#TelecommunicationsWeek!

Thank you!
#telecommunicationsweek!Big shoutout to all the amazing dispatchers keeping us safe and connected on #TelecommunicationsWeek! Your hard work does not go unnoticed 🚨📞💼

Dispatcher Cora Thorp has served this department for over 10 years. Thank you Cora for your dedication.
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2 days ago
Happy, happy birthday, K9 Ace!! Stay safe!Image attachmentImage attachment

Happy, happy birthday, K9 Ace!! Stay safe! ... See MoreSee Less

2 days ago

National Police Credit Union is honored to welcome the Munster Police Department (Indiana) into our field of membership. We look forward to serving you and your families. ... See MoreSee Less

2 days ago
Thank you, Dispatchers!!!!
#TelecommunicationsWeek

Thank you, Dispatchers!!!!
#telecommunicationsweekWhile they won’t be saying “Aloha” when they answer the phone, they are dressed for island time! Sheriff Crawford is proud to honor our wonderful Communications Unit this week during National Public Safety Telecommunications Week. We surely have the best!

#telecommunicationsweek #celebrate #dispatchers
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3 days ago
Thank you, Dispatchers!!!!
#TelecommunicationsWeek

Thank you, Dispatchers!!!!
#telecommunicationsweekFrom all of us at Parkers Mill Fire to Pulaski County 911 Center and surrounding 911 centers, We appreciate all the hard work keeping all agencies, and the community safe! Wouldn’t be able to do it without you guys! #telecommunicationsweek
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3 days ago
Thank you, Dispatchers!!!!
#TelecommunicationsWeek

Thank you, Dispatchers!!!!
#telecommunicationsweekHappy Telecommunications Week! We here at the Itawamba County Sheriff's Department want to thank all the hardworking dispatchers out there! We want to take a moment to show our utmost respect, appreciation, and admiration for the vital role you play in emergency situations. Your calm voice and quick thinking bring peace in moments of chaos. Thank you for your dedication and selfless service, we couldn't do it without you!
#ThankYouDispatchers #TelecommunicationsWeek #RespectAndAdmiration
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3 days ago
Thank you to all of the Dispatchers who live behind the scenes, but are always front and center!!
#TelecommunicationsWeek

Thank you to all of the Dispatchers who live behind the scenes, but are always front and center!!
#telecommunicationsweekBig shoutout to all the amazing dispatchers keeping us safe and connected on #TelecommunicationsWeek! Your hard work does not go unnoticed 🚨📞💼

Dispatcher Denise Roberts has served this department for over 10 years. Thank you Denise for your dedication.
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3 days ago
Thank you for 40 (!!!!) years of service!! We truly appreciate your many years of dedicated service. All the best and every success in your retirement. Stay safe!

Thank you for 40 (!!!!) years of service!! We truly appreciate your many years of dedicated service. All the best and every success in your retirement. Stay safe!Last night at the board meeting, the Naperville Park District and its commissioners recognized Park Police Officer Arzania "Zook" Williams for his dedication and service to the community over the past decade as a Park Police Officer as he prepares to retire. Congratulations and best wishes for your retirement, Zook!

#ParkItInNaperville
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3 days ago
Thank you for 44 (!!!!) years of service!! We truly appreciate your dedicated service and wish you all the best in your retirement. Stay safe.Image attachmentImage attachment+Image attachment

Thank you for 44 (!!!!) years of service!! We truly appreciate your dedicated service and wish you all the best in your retirement. Stay safe. ... See MoreSee Less

3 days ago
YES!!
#Superheroes

YES!!
#superheroes
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6 days ago
Thank you!! Stay safe!Image attachmentImage attachment+2Image attachment

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

6 days ago
Happy birthday, K9 Luka 💙💙💙💙!!!!
Stay safe!

Happy birthday, K9 Luka 💙💙💙💙!!!!
Stay safe!Ok, 0k..we might’ve overloaded you with doggo cuteness lately, but today is a special occasion - K9 Luka is turning 2!!! 🥳

Happy birthday Luka!! Your endless happiness makes each day brighter but today is all about you. Enjoy your special day! 🎉

And we have another birthday boi celebration lined up for tomorrow….check back to see who it is!!!! 👀

#k9 #birthdayboi #celebrate
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6 days ago
Thank you!! Stay safe!

Thank you!! Stay safe!Give Trooper Skiles and Trooper Toal some gratitude this morning. ... See MoreSee Less

6 days ago
Congratulations and thank you! Stay safe.

Congratulations and thank you! Stay safe.We forgot to post this yesterday.

Today, we celebrated a promotion with Deputy Duggan and his family. He was promoted to the rank of Sergeant and sworn in with the Oath of Office. We expect great things from Sergeant Duggan, and we believe that Sergeants in our office hold the greatest responsibility to their squads, the communities they serve, and this office. Congratulations, Sgt. Duggan!

#Promotion #Sergeant #Congratulations #Leadeship #teamgreen💚
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6 days ago
💙💙💙💙Image attachment

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1 week ago
Congratulations and thank you! Stay safe, Officers!Image attachment

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

1 week ago
Thank you for 34 years of service! Enjoy your retirement and stay safe!

Thank you for 34 years of service! Enjoy your retirement and stay safe!Congratulations to Billy Delgado on his 34 years of dedicated service to the City of Corpus Christi. We hope you enjoy your retirement. ... See MoreSee Less

1 week ago
Congratulations! Thank you! Stay safe!Image attachmentImage attachment+2Image attachment

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

1 week ago

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Managing Your Finances: Fact or Fiction

Understanding and managing your finances, especially the information that may be contained in your credit report, can be a daunting task.

Even people who have experience in the financial industry can be confused about their options and the impact they will have on their credit report and their ability to effectively manage their own finances.

Here a few of the more common beliefs and misconceptions coupled with responses that will serve to set the record straight.

Belief: Cash is king; I have great credit because I pay cash for everything

Response: Fiction

While it is a great idea not to buy things that you cannot afford, you have to actually establish and use forms of credit in order to earn a credit score. The more often you demonstrate that you are responsible with the credit that you have been granted, the stronger your score will be and the better access to credit you will have.

There is a happy medium here. It is not a good idea to try and establish all of your credit all at once and you certainly want to avoid opening up and trying to maintain too much credit. A typical credit report will often contain a mortgage trade line, one or two auto trade lines, and two or three credit cards along with whatever previous credit you obtained and paid off or otherwise closed. Establishing this type of credit will ultimately help you to build up your score as you make timely payments and pay down your debt levels while maintaining available credit sources. As your credit history builds so will your score.

You should still use cash when it is comfortable for you to do so, just don’t expect to build up your credit score without first establishing a credit history.

Belief: The most important part of my credit report is my score

Response: Fact

Everything contained in your credit report is important and personal to you. In addition to the names of your creditors and the balances that you owe them, information contained within your credit report includes your Social Security Number, your date of birth, your home address, and your place of employment.

You should monitor your credit report regularly, if for no other reason than to ensure accuracy. The information that everyone, from a potential lender to a potential employer, will look at with the most interest, however, is your score. Today, in our quick answer-immediate response world, your score is the single most important factor in determining whether or not you will be approved for that loan or, in some cases, be granted a job interview.

There are many scoring systems, at least one for every credit bureau, but they all have one thing in common. The higher your score, the better off you will be. Your cost of borrowing will be lower and your options will be greater.

Belief: I don’t have any control over what my credit report says

Response: Fiction

Nothing could be further from the truth. The data included in your credit report is a recording of your decisions, payments, requests, and overall handling of the credit you have sought and/or gained. It is your duty to act responsibly with the credit extended to you just as it is your duty to make sure all of the information on that report is accurate.

Belief: I will hurt my credit score if I meet with a Financial Counselor

Response: Both fact and fiction

Simply meeting with a Financial Counselor will not have any impact on your credit report, whatsoever. Keep in mind that you have to share certain data with a creditor or any company that reports information to a credit bureau in order for that transaction to show up on your credit report. It is a good idea to understand what, if anything, potential creditors or financial professionals are going to do with your information before you do any business with them.

If you decide to employ a Financial Counselor and you give them permission to act on your behalf in re-structuring or reducing the amount of debt you owe a creditor or a group of creditors, those actions could very well have a negative impact on your credit score. Even if you reach a mutual agreement with a creditor who allows you to settle with them for less than what you owe them or to pay them over a longer period of time than what was originally agreed, that creditor will almost certainly report that information to the credit bureau and that data will cause your credit score to drop.

Belief: The more money I make, the higher my credit score will be

Response: Fiction

Your credit score really doesn’t have anything to do with how much money you make. One of the measurements that influence your score is the amount of debt that you have, but your income has no direct impact on your score. If you make a minimum wage, but you make loan payments as agreed, you can have a credit score that equals or exceeds maximum wage earners who may or may not manage their finances as well as you

Belief: I don’t have enough money to hire a Financial Advisor

Response: Fiction

Reputable Financial Advisors can be helpful in virtually any financial situation from establishing a college fund through retirement planning. You can establish an investment plan for very little money and begin habits that will serve you well throughout your life.

While some professionals may cater to a wealthier client base and charge accordingly, the vast majority of Financial Advisors are very affordable. Many are paid through the commissions and fees that you are already paying on your investment accounts.

Lastly, please remember that the best way to manage your finances and the information contained in your credit report is to take an active role in the process. Review your statements. Ask questions when you don’t know the answer. Obtain your credit report for free from one of a multitude of websites offering that service. Make sure that everything is accurate and, if something doesn’t look right, take immediate corrective action.

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.

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