Police Federal Credit Union’s Newsletter · The Basics of Successful Budgeting Secure your...

Police Federal Credit Union’s Newsletter Volume Issue • March 2018

In This Issue:

Tax Loans - Relief When You Need It!Put The Brakes On Higher Rates With A Police FCU Auto Loan!Police FCU Real Estate LoansWhere Homemade Memories Begin

7 Expenses You Can CutSave a little dough by cutting these budget-draining expenses

Watch your savings grow with these Share Certificate SpecialsPolice FCU Motorcycle Loans Help You Ride YOUR Way!The 2018 $12,000 College Scholarship Awards Program Ends March 31!SAVE THE DATE! Police FCU Annual MeetingThe Basics of Successful BudgetingSecure your financial future with these basic budgeting steps

Healthy Late-Night SnacksEnjoy tasty snacks before bedtime while maintaining a trim waistline

The Hidden Costs of Car BuyingLookout for these sneaky car buying costs

Police Federal Credit Union’s Newsletter


Tax Loans - Relief When You Need It!

Were you blindsided by a tax bill this year?

Every year, there are taxpayers who are surprisedthat they owe additional income taxes even thoughtheir employer withholds taxes from their paycheckeach week.

Getting blindsided by a tax bill can be a bit stressful.That’s why Police FCU is here to help. Whether youowe for income tax, property tax or another tax bill,we are here for you.

With a Police FCU Tax Loan, you can borrow upto $5,000 for up to 24 months for a rate as low as6.49% APR*.

Police Federal Credit Union • 301.817.1200 •http://www.policefcu.com/



Put The Brakes On Higher Rates With A Police FCUAuto Loan!

Get the new or pre-owned vehicle you had onyour wish list for 2018! Police FCU has the rightAuto Loan for that perfect vehicle. Take advantageof Police FCU’s great Loan Rate DiscountProgram with Auto Rates as low as 1.49% APR.*

Refinance for a lower rate! If you already have avehicle you’re financing but aren’t satisfied withyour current rate, call us to find out what we haveto offer. Now is a great time to refinance withPolice FCU to a lower rate!

Don’t forget! Get the best pricing on GAPand MRC insurance! GAP insurance covers thedifference between what the car is worth and whatyou owe on the car, and comes into play if the caris stolen or totaled while you are still makingpayments. Be sure that you are covered! MRChelps you cover the cost of mechanical repairs. Call us today for more details and pricing.

Police Federal Credit Union • 301.817.1200 • http://www.policefcu.com/



Police FCU Real Estate LoansWhere Homemade Memories Begin

Let your imagination take you where you want to be. Our Real Estate loan options give you flexibilityand resources that can help turn possibility into a reality. If you are in the market for a home purchase,mortgage refinance, or you are just exploring your options, make sure you check us out. Police FCU ishere to help!

We offer:

Fixed & Adjustable Rate LoansJumbo LoansUnique Loans: IncludingReverse Mortgages, FHA, VA and othersHome Equity Line Of Credit

NOW OFFERING 100% loan to value on ourHELOC! (up to $250,000)

For more details on Home Equity Lines of Creditplease call 301-817-1200.

For all other real estate loan questions please call571-490-8013.




7 Expenses You Can CutSave a little dough by cutting these budget-draining expenses

Saving money can be difficult, but it can often be as simple as cutting certain things or activities fromyour daily life. Save money by cutting the following suggested money drains from your budget.

Premade food

Bankrate points out that one of theplaces people waste money themost is their grocery bill. Ratherthan buying convenience foods, gofor unprepared foods like rawveggies and meats and make yourmeals from scratch. To save evenmore money, make your meat lastlonger by bulking up portions of riceand pasta and reducing yourportions of meat — or byeliminating meat entirely fromseveral meals. By doing this,Bankrate says a family of fourcould save $240 per month ongroceries.

Cable

Cable has long been the king of living room entertainment. According to U.S. News and WorldReport, the average cable bill runs around $80 a month, making it an area ripe for reduction. If youonly watch a couple shows, shelling out for hundreds of channels could be entirely unnecessary. Youcan easily and cheaply replace your cable service with show-streaming services like Hulu or Netflixusing just your internet connection.

Takeout coffee

It can be tempting to grab a cup of joe at a coffee shop to start your day. But, according to Lifehack,dropping that takeaway coffee and making some for yourself before you leave the house could easilysave $80 per month.

Expensive entertainment

The Balance points the cost-cutting-crosshairs at money spent purely for entertainment. Morespecifically, it suggests renting movies rather than seeing them in theaters, enjoying free concertsrather than paid ones and checking out books at the library rather than buying them.

Eating out

There is a reason eating out is so attractive. It’s simple, convenient and could potentially offer nicerfood than what you keep in your fridge. That convenience, according to U.S. News, comes at a highprice when compared to cooking at home. You can save big by cooking up large dishes on theweekend, freezing them and eating portions of them during the week.

The night out at the bar

Going out for a night at a bar is fun, but buying drinks can be detrimental to a limited budget. Lifehacksuggests habitual bar-goers should cut back or even try going alcohol-free for a month to see howmuch money they save.

Calling in the workers

The Balance points out that one major drain on a household budget is calling plumbers and otherhighly-paid people to maintain your house. Instead, the article suggests learning to perform some ofthose maintenance duties yourself, reducing pricey service calls (although if any project makes youuneasy, you should still call in the experts).

uneasy, you should still call in the experts).

Cutting expenses can be a good and easy way to save money, and the items and service you can cutcertainly aren’t limited to this list. For any expense, ask yourself if you need it or if you just want it.The answer could save you a good deal of money.




Watch your savings grow with these ShareCertificate Specials

Want a guaranteed rate of return where you canmaximize your deposit with a competitive interestrate? For a limited time, Police FCU will beoffering two high yield share certificate specials.

Our 10 month share certificate1 special will beoffered at 1.50% APY+. Our 27 month sharecertificate2 special will be offered at 1.85% APY+.

So, save on your terms by locking in these greatrates today and watch your savings grow!

Other rates and terms are available. Click here toview all current rates.

1 Minimum Deposit $5,000. Maximum Deposit$100,000. Upon maturity renewal term will be12-month term at the dividend rate in effect at thetime of renewal unless otherwise directed. Early

withdrawal penalties apply and may reduce earnings. This limited-time offer is subject to change atany time without notice.

2 Minimum Deposit $5,000. Maximum Deposit $100,000. Upon maturity renewal term will be 36month term at the dividend rate in effect at the time of renewal unless otherwise directed. Earlywithdrawal penalties apply and may reduce earnings. This limited-time offer is subject to change atany time without notice.




Police FCU Motorcycle Loans Help You Ride YOURWay!

Ready to hit the open roads this spring?

It doesn’t matter if it’s your first bike or upgrading toa new ride, Police FCU can help. With rates as lowas 2.49% APR* on the Purchase of a New or UsedMotorcycle, you’ll be just in time to enjoy theultimate freedom on the open road this spring!

Call 301.817.1200 for your adventure now!

*APR= Annual Percentage Rate. Rates are subjectto change without notice. Rates and terms arebased on applicant(s) credit history. Your actual ratemay vary. Example: On a $25,000 motorcycle loanat 2.49% APR for 72 months, your approximatemonthly payments= $374.16. Certain restrictionsapply. Other rates and terms available. ContactPolice FCU for details. Current Police FCU loans noteligible for refinance.




The 2018 $12,000 College Scholarship AwardsProgram Ends March 31!

The 2018 $12,000 College Scholarship Awards Program isUnderway!

Police FCU is pleased to announce that the $12,000 Credit UnionCollege Scholarship Program for 2018 is here! If you or a familymember are planning to enroll in college or trade school in 2018make sure you take advantage of this great opportunity.

Ease the burden of tuition cost and books by applying for:

• One of ten $1,000 essay-based scholarships,

• One $1,000 video-based scholarship, and/or

• One $1,000 scholarship in the new photo-essay category!

PLUS, additional awards up to $750 for Police FCU members!

This year’s essay topic: Describe the value found in credit unionmembership.

This year’s video topic is: Create a 60-second advertisement to attract younger viewers (under theage 16-24) that highlights the benefits of credit union membership.

This year’s photo theme is: the credit union core value, “Community”

Deadline for applications is March 31st, 2018. Awards will be made in May 2018. The Credit UnionFoundation of MD & DC and its generous supporters make this scholarship possible.

Applications and complete details on the Credit Union College Scholarship Program can be found at:www.policefcu.com, click the scholarship link.

The Credit Union Foundation of MD & DC and its generous supporters make this scholarship possible.




SAVE THE DATE! Police FCU Annual Meeting

Mark your calendars for Police FCU’s Annual Meeting as we reviewhighlights of 2017, unveil plans for 2018, and elect our Board ofDirectors.

A light breakfast will be served followed by a business meeting at10am. Please RSVP by phone 301.817.1200 or email AshleyGlover at [email protected].

Saturday April 14, 2018FOP Lodge 892905 Old Largo RoadUpper Marlboro, MD9:00am-11:00am

Police Federal Credit Union • 301.817.1200 •http://www.policefcu.com/



The Basics of Successful BudgetingSecure your financial future with these basic budgeting steps

If you’re clueless about where your money goes each month, you cannot create a financially stablepresent let alone plan for a healthily funded future. The following budgeting basics will help you garnera more complete picture of your finances, take control of your spending and plan your investments.

Follow the money trail

It may feel like your money justdisappears, but it’s definitely goingsomewhere. You just need to payattention to the specifics.

“The only way you can create aneffective budget is if you first trackyour expenses for at least amonth,” reports Bankrate.comwriter Sarah Berger. “You need toget a good grasp on what yourtypical spending and saving habitsare already like, so that when youdo create a budget, it’s one youcan realistically follow.”

Create a robust budget

Determine an all-encompassingplan — one that incorporates thebills you have to pay and plans for the things you want both now and in the future. Think potentialvacations, an emergency fund and even retirement, advises NerdWallet.com writer Bev O’Shea.

According to Berger, your budget should be divided into three categories: future, essentials anddiscretionary spending. Your take-home pay should be divided among these areas by specificpercentages: 50 percent to essentials, 20 percent to future and up to, but never more than, 30 percentin the discretionary spending section.

“Essential expenses should include four main categories: housing, transportation, groceries andutilities,” says Berger.

Rectify past mistakes

Debt is a small word for a menacing beast. Whether it’s debt from credit cards, a mortgage, or car andschool loans keeping you up at night, your debt needs to be factored into your budget, explainsBerger. Although it is intimidating, she advises strategizing ways to whittle down expensive debt likehigh-interest credit cards first.

“If you do have a ton of debt, you’re not doomed. But you should switch your budget up and put 30percent of your take-home pay toward financial obligations and 20 percent toward discretionaryspending,” advises Berger.

Simplify the process

Good intentions don’t usually manifest successful results, especially when it comes to money. If youwant to really save for the future, outsource the process.

“The easiest way to start socking away cash for your future self is to automate those savings. Thatway, you won’t even have to feel the pinch in your paycheck; if you don’t see it, you won’t miss it,”writes Berger.

Since there is strength in numbers, O’Shea recommends enlisting the willpower of a trustedaccountability partner or the support of an online group who can keep you focused on your financialgoals when something shiny (and expensive) threatens to derail your healthy financial trajectory.

Keep it moving

Stagnant water breeds bugs and mosquitoes, pests you don’t need in your life. A stagnant budgetbreeds financial death, a situation you had best avoid.

“Your income, expenses and priorities will change over time. Adjust your budget accordingly, butalways have one,” advises O’Shea.

Navigating your finances is no small undertaking, but by establishing a thorough budget with thesebasic steps, you’ll have a clearer understanding of what you have, what you need and what you wantyour financial future to be.




Healthy Late-Night SnacksEnjoy tasty snacks before bedtime while maintaining a trimwaistline

A major challenge of dieting is to lower your caloric intake while increasing your energy expenditure.While burning off calories is a crucial step to achieving any fitness goal, it can also leave you hungry.Here are 10 low-fat snacks that will help stave off hunger while keeping you on track with your diet,particularly when those late-night munchies hit.

Soup

Toby Amidor, M.S., R.D., C.D.N., contributor to the “Healthy Eats” column on Foodnetwork.com,recommends a cup of broth-based or minestrone soup. Avoid cream-based soups, however, sincethese tend to be higher in calories and saturated fat.

Popcorn

Erica Kannall with Livestrong.com suggests popcorn as a crunchy, low-calorie snack before bed. Ithas only 31 calories per cup, without butter. Opt for black pepper, garlic powder or other driedseasonings to add flavor while keeping the calorie count low.

Oats

For a perfect bedtime snack that is satisfying as well as sleep-inducing, Holley Johnson Grainger withCookingLight.com recommends oats. This healthy food item contains melatonin, a hormone whichhelps regulate your sleep cycle.

Frozen fruit

For a cold, sweet dessert, it mightbe tempting to dig into a pint of icecream. For a low-caloriealternative, frozen fruits are arewarding snack. Alexa Erickson,contributor to Gethealthyu.com,recommends bananas and berries.

Cherries

Refreshingly tart, cherries areanother great option for a nighttimesnack. Erickson points out that thisfruit is also high in melatonin.

Nuts

Foods high in protein will help youfeel full without packing on thepounds. To this end, nuts are agreat option. Grainger recommends almonds, which are high in magnesium and tryptophan to helpyour muscles relax and help your body feel sleepy.

Avocado toast

Whole-wheat toast is an easy snack to make late at night. Erickson suggests avocado toast. Mashhalf an avocado, then add 1 tablespoon olive oil plus salt and pepper to taste. Spread on the toast andenjoy.

Raw veggies

For a snack that requires little to no preparation, go with vegetables. Kannall recommends selectingones that are high in water and fiber, such as cucumbers, zucchini, carrots, peas and broccoli. Avoidpairing them with ranch dressing or another high-calorie dip; instead, try hummus for a filling buthealthy option.

Greek yogurt

While some snacks claim to be healthy but are high in sugar, Greek yogurt is an exception. Ericksonadvises buying plain yogurt — rather than a flavored version — and adding topping such as honey,fruit and chocolate chips to lend sweetness while avoiding unhealthy additives such as corn syrup.

Cereal and milk

Amidor recommends milk and cereal as a great late-night snack. Choose whole-grain cereal pairedwith fat-free or low-fat milk to curb calories.

With a little forethought and preparation, you can easily incorporate low-calorie snacks into your diet.Make sure you have one or more of these items on hand for your next late-night food craving.




The Hidden Costs of Car BuyingLookout for these sneaky car buying costs

Buying a car, whether new or used, is an exciting yet expensive time. In addition to the sticker price,you have to budget for hidden costs associated with securing your new ride. From dealership fees andtaxes to insurance premiums, the hidden costs of buying a car can break your budget if you don’t planahead or know what fees to decline.

Fees to ponder

The price to get your vehicle on thedealership lot, which is displayedon the window sticker as a“destination charge,” is anon-negotiable fee, according toConsumerReports.org. You should,however, beware of “pre-deliveryinspection,” “dealer prep,” and anyextra “delivery” or “destination”costs listed on the sticker, as theseare suspect charges.

“Look at the sales contract carefullyto make sure you are not payingtwice for the same thing,” advisesU.S. News & World Report writerEvelyn Kanter. “Destination ordelivery, but not both.”

In order to comply with the law and avoid pricey tickets, you must pay the required fees to title andregister your vehicle. You can avoid these fees if you plan to transfer your already paid-for plates,explains ConsumerReports.org. Sales tax, although different by state, unfortunately cannot beavoided.

The notoriously unregulated fee, referred to as “conveyance fee” or “doc fee,” which can range from$150 to $300, is a required fee, but that doesn’t mean you technically have to pay it.

“Try to get the dealer to reduce the price of the car by a similar amount, and let the fee stay on thepurchase agreement. As a fallback negotiating tactic, ask that some accessory, such as floor mats,wheel locks, or a cargo organizer, be thrown in free of charge,” suggests ConsumerReports.org.

You might be asked if you would like to invest in an extended warranty, which is designed to pick upcoverage after the warranty from the automaker expires. Whether or not you buy it is up to you.

“If you do buy [an extended warranty], we recommend getting coverage backed by the vehiclemanufacturer or an established third-party company,” states ConsumerReports.org. “You don’t have tobuy on the spot; take your time to compare contracts.”

Fees to refuse

Just because the dealership’s shiny ad or splashy commercial got your attention doesn’t mean youhave to pay for it, reports Kanter; ad buy fees should not be your responsibility.

Your car is already engineered with rust safeguards from the manufacturer, adds Kanter, who warnsagainst paying for additional “rust, paint and fabric protection.”

Fees for anti-theft systems, VIN etching, and pinstriping are things to consider, but if you’re interestedin them, you can likely find a cheaper price outside the dealership, according toConsumerReports.org.

Insurances such as credit life and disability are worthy investments, just not from a dealership.ConsumerReports.org explains that term life insurance can be a less expensive substitute for creditline insurance, and disability insurance might already be rolled into your employer benefits. In either

case, a little outside research will save you some money.

The price of car ownership is already high; don’t make it astronomical by getting swindled by hiddencosts and dealership fees.


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