Credit Union Change (UPDATE)
From the comments:
- OT but important if you have a CPFCU credit union checking account. They are now charging $4 a month for checking. They snuck this in and call it premium checking but the few little things they give you amount to nothing. Of course they couldn't offer this as an optional upgrade because no one would take it so they are forcing everyone to opt out. If you don't opt out by April 16 they will start taking $4 a month from your account. I don't recall getting anything in the mail about this. The only reason I found out is because I went into the credit union for something else.
It's actually getting more economical to store our money under the mattress again.
UPDATE:From a long time reader:
UPDATE:From a long time reader:
- Thank you for the info about CPFCU switching our checking accounts to premium checking without our consent. As I live overseas, I didn’t want to waste time on the phone, so I emailed them.
I received a response and was sent a form to opt from premium checking and revert back to free checking. I had to fill out the form, scan it, and email back to the credit union. I just checked my account, and my checking has been reverted to standard checking. Just thought the members should know.
Thanks for keeping me updated on the current Department Situations!
Labels: info for the police
posted by SCC at 12:01 AM
87 Comments:
And if you receive a paper bank statement, they will start charging you a $2 fee 😳.
A sign of the times I guess.
PS...screw rham, go Willie Wilson!!!
Credit union blows, why would anybody use it, switch already
They use to give great rates on loans and that has changed too. Maybe it's time to go to Navy Fed
and i thought the credit union was a great place to do my banking, thats some sneaky shit. I will opt out and thank you very much for the info, i will make sure i pass it along
Truth be told, the Credit Union has been a bad deal for the coppers who do business with them for well over a decade. Best thing you can do is take your money out and shop around. There are other credit unions around Chicago that offer much better services than our own does. Walk or run away, and don't look back!
And if you get a paper statement instead of an E-statement it is $2.00 a month. Time to look around for another credit union.
Can anyone confirm?
I will be taking out all my money if subjected to a fee without prior knowledge given to me by the credit union.
I use the Credit Union as an extra savings account. (payroll withdrawal is easy) I have no checks, credit cards, or ATM cards with them. They will change me $2 a month with a standard account. Looks like I am closing my account this week and stopping the payroll withdrawal. I have multiple Bank of America accounts that change me $0 a month to use them. It will take me a few seconds to transfer money from the account that receives my direct deposits to another Bank of America account that changes me nothing. Everything the Credit Union is offering for $4 is free to everyone with a major credit card or as Bank of America does, to Police Officers for free. Everyone is entitled to a free credit report once a year per the Fair Credit Reporting Act (FCRA). Thank you, Credit Union you are losing my business over $2.
The credit union doesn't do crap for CPD anymore. Used to get a loan on a signature they don't do that anymore either.
Buy a 3,000.00 safe and secure it to the wall and floor. Jewelry, guns, titles/deeds, firearms, cash, keys, laptops/hard drives, coins/bullion, diplomas/certificates/licences, credit cards, passports ,camera equipment... You get the idea.
I wouldn’t do any business with anyone that has the name Chicago in it. Especially financial business. Chicago has a bad track record.
Fuck it - just about any bank in the area will give you free checking with ATM access, debit card... if you do direct deposit. The best message is to opt right out for a different bank.
If they want to start charging these types of fees, I propose they charge everyone they've let into OUR credit union who aren't coppers.
Last time I checked, it's still named the Chicago PATROLMENS Federal Credit Union.
Good heads up to whoever alerted SCC to this. $4/month ain't shit, but it's the principal and shifty-assed implementation behind it.
Sneaky bastards! Like they don't make enough money already!
They are just like the city! Doing things and NOT telling anyone!
Sorta like when they allowed the CTA employees to join a few years back. Not a word was said, they just starting popping up in the lines and just like that, Cpfcu all of a sudden is shared by CTA employees. The credit union has become more like a regular bank. Why the charge? It's not like they're hurting financially... Time to protest!
I just noticed something on my statement that just came in the mail. At the bottom of the statement they mention in big bold letters Premium Checking Account. Then in small print they mention the $4 a month charge. Under that in even smaller print they say they will now charge $2 a month for mailed statements if you don't have premium checking. Screw them. I'm opting out and I'll switch over to e statements but I'm going to take all my money out of there in the next few months as soon as I open an account somewhere else and get my direct deposit switched over. This is a sneaky money grab.
Take your money and pull it out. Put it in another bank or credit union where the terms are better. I know, it takes time and you like having money in a 'police' credit union. Who cares. Through the years I've moved money from one institution to another if I didn't like what they did. They probably won't give a shit unless enough people do it, but it feels good having control of your money.
They must have learned that sneakiness from Rahm.she's
Now, kees me you fool!!!!
Wake up guys and gals. Pull it an f-ck them. Hey FOP you think we can get offers from other banks and credit unions that want to work with us?
I had already decided to pull my money out of the credit union because of the terrible interest rates they offer, but this kills it for me. There is no advantage to having a credit union account.
It's actually getting more economical to store our money under the mattress again.
Coffee cans in the soil are far more practical, economical and virtually undetectable to canine sensory...
Credit union is horrible. I had an unfortunate fraud experience recently and it opened my eyes on how truly inexperienced and unprofessional they are in the banking industry. They cost me thousands of dollars in lawyers fees in which they refused to represent my best interests. Worst part was The ceo Scott Arne when we reached out to him was just as clueless and pretty much stated they didn’t care and that they had to look out for their best interest. I contacted the Fop about this as well and met with their attorney who also agreed with me and said their attorneys the credit union retains are a-holes and only look out for the bank and not you the member. On top of that with all the bs hidden fees like charging atm fees even though you used their own atm and debit card purchase fees it was time to close all my accounts. Not to mention they’ve accepted cta and their family members in to start banking with them. What a shame. I strongly discourage anyone to keep banking with them. This was a real eye opener
Buy gold and silver or just the good old brass and lead as an investment.
Here's some info on the new "Premium Checking Account" at the CPFCU. Apparently it adds some identity theft protection, IF choosing this particular checking account plan for just $48.00 a year, fairly inexpensive as compared to other identity plans costing 2-3 times that amount that I looked into.
(Not a CPFCU staff member, just a fellow CPD[ret] account holder)
Here's the site below with a short video attached. FYI...your call.
https://www.cpdfcu.com/premium-checking
Stay Safe!
I dont know why anyone would bank out of that POS credit union.
Oh.. ONLY $4.00?
I heard this before.
FWIW I use Schwab. Free checking and they do ATM fee reimbursement. Only downside is there is no physical bank presence. It’s all online.
Not true, we are getting a lot for this 4 bucks... take a look.
https://www.cpdfcu.com/premium-checking
I'm done with the credit u ion. My son has his Condo mortgaged with them. The rates went down and he wanted to refinance and they refused saying that they dont do refinancing on condos. About the only thing they do halfway decent on is car loans.
I will be visiting the credit union today at which time I will politely say, smell ya later...
I called about it and they told me that the Premium Checking includes a full identity theft protection plan (like Lifelock). It supposedly covers the primary account holder and up to 3 generations of family members living in the same household. They said that we are supposed to get more information in the mail and email in the next week explaining the plan and what it offers.
I do think it's ridiculous that they added this plan and automatically enrolled every checking account into without notifying the customers first and giving people an option to opt out ahead of time.
Was buying a new truck. Called credit union and was told interest rate. Chrysler Credit was lower. I have A1 credit. Quit credit union.
I had some money in CD’s at a bank, rate turned to crap under Obama. Bank charged me to hold onto my money. I told them I was better off burying the money in my backyard and cashed out, bought a safe instead.
Here is what the $4.00 charge is for
http://chicagopatrolmens.nxgstrategies.com/
https://www.cpdfcu.com/premium-checking
Premium Checking provides you with access to real-time credit monitoring with daily alerts to keep you informed of credit activity 24/7. If ever your records are breached, you will receive FREE Identity Theft Restoration services, including one-on-one “personal advocacy,” for as long as it takes to clear your good name. Plus, Premium Checking ITR services extend to cover up to three generations of your immediate family members at no additional cost!
Apply For a Premium Checking Account
Premium Checking Account Features For Primary Account-Holder:
Fully Managed Identity Theft Recovery (and up to 3 generations of family members)
Expense Reimbursement Insurance
Entitlement To Credit Monitoring with Daily Alerts
Entitlement To Monthly Credit Score, Graphically Tracked
Entitlement To Annual Credit Report
In Addition to the Identity Theft Protection Entitlements, Premium Checking Also Offers:
Online Banking
Online Bill Payer
Electronic and Paper Statements
Waived Teller Check, Certified Check, Overdraft Transfer, Verification of Deposit, and Replacement Card Fees.
And More!
*Looks like that you do get some benefits if you can use them, but still $4.00 is $4.00 the good thing is the identity theft protection which after having my Identity stolen once it was a nightmare to restore it says they cover the fees! Just putting it out there so we can make informed decisions!
Just another way of saying thank you for your business dumb dumb!
Anonymous Anonymous said...
And if you receive a paper bank statement, they will start charging you a $2 fee 😳.
A sign of the times I guess.
PS...screw rham, go Willie Wilson!!!
4/05/2018 12:06:00 AM
Excuse my ignorance not a fan of rahm, but what has rahm got to do with this?Go willie wilson? this is the guy who just made campaign contribution limits extinct,he is a shill for rahm like the rest running,after election the losers will all get something watch:
Gary: airport security contracts
Wilson:Lucrative McDonald franchise
Vallas:something in education
Follow the rahm playbook not to hard to see!
The CPFCU is turning into a Courtesy Exchange.
I just use them for the direct deposit into savings and for auto loans which was a convenience.
So if there,going to be fee based everything, it’s time to move on.
Nowadays every bank has direct deposit, good car loan rates (once even matched a 1.9% Ford Credit] incentive) and real free checking without min. balances.
I never opened checking-debit or credit card account at CPFCU.
Reason was about 15 years ago they had a huge breach, but more likely an insider stealing info.
Lots of accounts were compromised. They were slow to fix the problem and froze your money for days.
CPFCU being part of a credit union network now, made things even worse.
Bad investments, poor judgement, consolidation with even poor institutions.
CPFCU is dug their own grave and is succumbing to the trend of the stand alone banking industry (what Slick Willie Clinton put an end to in ‘95 with his community reinvestment reform and wealth spreading - better known as “loans for all” program).
i just opted out , and the lady on the other end of the line sounded nasty and mean to me as if she was losing the money when im opting out.. she also asked why im opting out?, i said for 20 years i been with you i never been charged so why should i pay now ? she said there are advantages to having premium checking and began to explain what they are, i interrupted her and said i don't care for the advantages, OPT ME out!
I will be taking out all my money if subjected to a fee without prior knowledge given to me by the credit union.
I thought the same thing.....at first.
However, look in your March Statement. They did announce that this was coming. So I called for more details. There are certain existing fees that will now be waived and they also offer Identity Theft assistance.
Face it, this is the recent fad in banking. You may find another bank or credit union that may seem better but they all change at some point in time.
As for me, I'm staying with them until next year, only because I have a personal loan with them and once that's paid off I'm gone. We moved out of state and, call me old fashion, but if I have a problem that involves my money I want to talk to someone in person,not long distance.
I called the credit union, related that the $2 monthly fee does not apply to the CTA members. Only the CPD members. WTF!
The loan rates are not competitive at all for anything. I love how future merit promotion idiots need to get loans for equipment purchase when the academy starts too. Classic.
Just call the credit union and tell them you want standard checking- not premium. As long as you don’t get checking account statements mailed to you, everything is still free.
I would NEVER trust anything remotely affiliated with this city or job with my finances. Gone in there with my partner on occasion, the whole thing is just cut rate. Go to a regular BANK. You can still do direct deposit lol
When I joined in 86,
Their main hook was 1000 signature loans to recruits who needed to buy uniforms,
Lo and behold, Kale Uniform would allow you to endorse the check to them,
You had your khakis and gym stuff,
They also advertised that they insured the signature loans so that if you died, the loan was forgiven,
Years later cops widow tried using this insurance,
UH WE CANCELLED THAT A COUPLA YEARS AGO,
She got a lawyer who asked to see a copy of the notice provided to the deceased officer,
UH WE DID NOT HAVE TO PROVIDE NOTICE BECAUSE THE DECEASED DID NOT PAY FOR THE INSURANCE,
Long and short lawyer won,
Place went to shit when Dan Mahoney Sr. left,
Dan Mahoney Jr. got convicted and sent to the shit hole after receiving kick backs in constructionof the new building,
Did you read about that in the newsletter?
Two last thoughts,
The credit union waa a good place to run into people you hadn't seen in years, and catch up.
Not any more.
The credit union was the clout for
Eve G.M. who was Mahoney seniors secretary.
Thank you she has been wonderful.
Money Magazine reports that the best credit union in the Chicago area is Alliant Credit Union.
Everybody wants to stick it in our ears. This city blows!
I took my money out 20 years ago.
IT’S STUPID TO BANK WITH CPD CREDIT UNION!!!
I have had bank accounts elsewhere since 1984 and have NEVER paid any fees.
First Savings Bank of Hegewisch. 773/646-4200. Great for southsiders or Chicago.
*No fee checking, mine gives me an ATM card, plus interest (no big deal) Receive free statements every month.
*About 16 ATM locations on south side & suburbs. Pay bills on line, (even my lawn maintenance people)
Discover Bank. 800/347-7000. Mostly on line. Write free checks, some give you 5c per check back.
*Transfer money on line to & from other accounts. Debit card good ALL OVER Country, US Banks, some Walgreens, CVS, Walmarts, Targets (check your area). Also have FREE on line bill pay. Receive free statements every month.
*Have 12 month CD’s paying 1.90%.
Chase Bank. 866/443-0911. Or check your nearby Chase bank.
*I get free checks, bill pay, debit card, no fee. Chase card good at Chase ATM all over. No fee. Free statements.
Marcus by Goldman Sachs. 855/730-7283. HIGH YIELD 12 month CD’s (currently @ 2.10%) Saving accounts pay 1.50%. All on line.
Check your local Savings & Loans for deals.
Forget paying $2 for e-Statements. They ought to be PAYING YOU to take the eStatements because it costs them money to:
* Print statements
* Mail statements
* Deal with lost/forwarded/misdelivered statements
Figure $5.00/statement at least for the back-end and mailing costs. It costs them less than a dollar to email them (they still have computer infrastructure and maintenance costs for email).
At least split the difference with me - give me $2.50, hell, $2.00/month to take the eStatement, I might consider it. But there's risk with that too - if I don't get the email, who's responsible? Typically they try to put the onus on the receiver and then if there's some issue with your account that was missed, they further blame you. Fuck that.
No one ought to be FORCED to accept to take things in a form which they don't want.
But a tiny portion of the $4 might be going to pension funds, or not.
I got my bank statement today from CPFCU and it does confirm that. I'm definitely taking my money somewhere else.
If you go back to standard checking then get e-statements they will waive the $2 service charge or if you’re 55 or older they will waive the service charge for a standard checking account.
I pulled out of the credit union a good twenty years ago. Some snarky bitch caught me in the midst of personal and financial problems. I figured I didn't any more complications, so I flatly told her to cut me a check because I'm outta here. Great decision.
It will start out at $4 and be increased when they want more of your money. Most other banks give you free checking. Screw the credit union.
It was in an e-mail they sent out the middle of March. When I called then to opt out I was told I needed to call back after April 1.
Please Go find a better place to put your money in. I opted out years ago when being a Chicago copper didnt mean SHIT to them. I was in financial need because of a death in my family and went to them after being a loyal customer there for over 10 years and when I applied for my loan, because my credit score was off by ONE POINT they denied me. I needed a 620 and scored a 619, I was in tears because I didnt have enough for funeral expenses and I went to Chase Bank and I was denied there as well and I asked the manager of Chase if he could do anything and HE DID. I begged the manager at our credit union and that rat bastard said "I'm sorry but we cant help you at this time" I hope they go out of business soon. They have taken advantage of our brothers and sisters in blue long enough. F You Credit union
I dropped their checking over this. I'll soon drop them completely.
If you have State Farm Homeowners Insurance you can add their identity theft protection for 25.00 a year. and for you old traffic, narcotics and tact guys 50,000. In any combo of Bank of America accounts like saving, checking and Merril Lynch investments will get you everything free including stock trades (30) a month including free checking and checks and bill pay.
Don't be a chump. Dump the CPFCU.
Three words:
DISCOVER ONLINE BANKING
No fees, Direct Deposit works great, deposit hard checks with the snap of a picture on your cell phone, free use of ATMs all over the place, and they pay you 10 cents for every transaction on top of interest. ZERO FEES. Fuck the Credit Union. That antiquated bullshit does nothing for you.
Cannot be true Am checking my account and if true, I'm gone tomorrow
Dear Members,
For 80 years, Chicago Patrolmen's FCU has strived to provide the highest level of service to our members by identifying opportunities that offer you the greatest benefit. Because financial and consumer trends are always changing, we do our best to stay current and when necessary, find ways to improve our line of financial products to suit your needs. With the goal of protecting you and your family from one of today’s greatest financial threats, we created a Premium Checking account enhanced with identity theft protection.
Yes, if you have an individual checking account with Chicago Patrolmen's, you were automatically enrolled in Premium Checking beginning April 1st and will be subjected to a monthly fee of $4 beginning April 16. The changeover was advertised beforehand on your monthly statements as well as our website, lobby screens, emails, branch flyers, etc.
For that low monthly fee, Premium Checking has an incredible amount of value when you take into consideration all of the benefits of identity theft protection and the headache of resolving a personal data breach. There are also numerous credit union fee waivers included with the program, so I hope you will choose to stay with your Premium Checking account.
Yes, you can opt out of Premium Checking for a Standard Checking account by calling the credit union's main line or coming into a branch location.
Yes, unless you choose to go paperless, ALL Standard Checking account holders will pay a monthly fee of $2. With today's technology, your account(s) can be accessed 24/7 in real-time online or via our mobile app, so the need for paper statements has decreased immensely. Standard Checking is truly free if you opt for e-statements.
For the last 14 years, I have worked hard to advocate for the men and women of law enforcement and will continue to do so in my current role at Chicago Patrolmen's. If you have any questions about Premium Checking or the credit union in general, please call me at 312-252-9433 or email me at jgordon@cpdfcu.com and I will be happy to assist you. Also, feel free to drop by and say hello if you're in the main branch on Washington.
Thank you for being a valued member of the credit union and Stay Safe.
Respectfully,
John E. Gordon
Director of Sales
Chicago Patrolmen's FCU
TCF has free checking and I’m loving it.
It’s for the children. Now pull two of my fingers!
Illinois State Police Federal Credit Union -ISPFCU - welcomes anyone in law enforcement or their family members. No issues at all with them.
www.ispfcu.org
Retiree here. Checked my checking account and no fees have been taken out, although it said I had a premium checking account Have no idea what that is or when or why I signed up for it, but at least I have no fees
Try Signature Bank, Police family, Police friendly.
I remember when the FOP said it was OK for us to just pay 3.00 a check for our insurance. Look what happened.
Anonymous Anonymous said...
Sorta like when they allowed the CTA employees to join a few years back. Not a word was said, they just starting popping up in the lines and just like that, Cpfcu all of a sudden is shared by CTA employees. The credit union has become more like a regular bank. Why the charge? It's not like they're hurting financially... Time to protest!
4/05/2018 04:33:00 AM
There are about fifty agencies that are a part of the CPFCU. Maybe you should pay closer attention.
I went today and closed all my accounts. everyone should do the same.
The credit union is just like the “benefit” packages that the FOP and the Sgt Assoc offer. Problem is all it is is selling you devices and they get a cut. Some benefit! Of course just ask them and the spin starts! It’s good for you and your family. Everything is for you not them.
What other organizations and or groups can join our credit union? If CTA and other can join it is no longer the patrolman’s credit union it is just like and bank.
After reading Gordon’s statement. I’m pulling my money tomorrow after I change my direct deposit from the pension board to a different bank
Doesn’t make sense that many other banks offer free checking so why not the Credit Union?
Shouldn’t affect the credit union too much. I hear they are bracing for a flood of loans from the 005 to pay back the IRS they go back 3 years and with penalties and interest, those loans can be quite large
Credit union will be making some big loans
Anonymous said...
Retiree here. Checked my checking account and no fees have been taken out, although it said I had a premium checking account Have no idea what that is or when or why I signed up for it, but at least I have no fees
4/05/2018 06:48:00 PM
Dear Retiree:
Please read the details.
You haven't been charged because it doesn't start til mid-month.
So, opt out or prepare to pay for the privilege of having a 'premier' checking account.
John Gordon said...
Dear Members,
For 80 years, Chicago Patrolmen's FCU has strived to provide the highest level of service to our members by identifying opportunities that offer you the greatest benefit. Because financial and consumer trends are always changing, we do our best to stay current and when necessary, find ways to improve our line of financial products to suit your needs. With the goal of protecting you and your family from one of today’s greatest financial threats, we created a Premium Checking account enhanced with identity theft protection.
Yes, if you have an individual checking account with Chicago Patrolmen's, you were automatically enrolled in Premium Checking beginning April 1st and will be subjected to a monthly fee of $4 beginning April 16. The changeover was advertised beforehand on your monthly statements as well as our website, lobby screens, emails, branch flyers, etc.
For that low monthly fee, Premium Checking has an incredible amount of value when you take into consideration all of the benefits of identity theft protection and the headache of resolving a personal data breach. There are also numerous credit union fee waivers included with the program, so I hope you will choose to stay with your Premium Checking account.
Yes, you can opt out of Premium Checking for a Standard Checking account by calling the credit union's main line or coming into a branch location.
Yes, unless you choose to go paperless, ALL Standard Checking account holders will pay a monthly fee of $2. With today's technology, your account(s) can be accessed 24/7 in real-time online or via our mobile app, so the need for paper statements has decreased immensely. Standard Checking is truly free if you opt for e-statements.
For the last 14 years, I have worked hard to advocate for the men and women of law enforcement and will continue to do so in my current role at Chicago Patrolmen's. If you have any questions about Premium Checking or the credit union in general, please call me at 312-252-9433 or email me at jgordon@cpdfcu.com and I will be happy to assist you. Also, feel free to drop by and say hello if you're in the main branch on Washington.
Thank you for being a valued member of the credit union and Stay Safe.
Respectfully,
John E. Gordon
Director of Sales
Chicago Patrolmen's FCU
4/05/2018 05:33:00 PM
Dear John Gordon
Are you sure it's legal to change my existing product and charge for it without my permission?
Why not OFFER this new product and allow people to OPT INTO it, instead of putting them in the position of having to OPT OUT of something they never asked for and may not know has been done to them?
This was not handled at all well.
Signed,
Former Checking account owner.
Dropped my account several years back when Dir. D. Mahoney, Jr. was convicted for fraud. Check out Wintrust Bank, around 16 branches and they keep their loans/assets local unlike Chase or B/A. Other great feature is reimbursing you the fees when you use another banks ATM. They are supporters of law enforcement such as each May painting the images of fallen officers killed in the line of duty on a 3 sided mural visible on the S/B Kennedy Xway @ North Ave.
Anonymous Anonymous said...
Anonymous Anonymous said...
Sorta like when they allowed the CTA employees to join a few years back. Not a word was said, they just starting popping up in the lines and just like that, Cpfcu all of a sudden is shared by CTA employees. The credit union has become more like a regular bank. Why the charge? It's not like they're hurting financially... Time to protest!
4/05/2018 04:33:00 AM
There are about fifty agencies that are a part of the CPFCU. Maybe you should pay closer attention.
4/05/2018 07:00:00 PM
50 agencies? really, what are you smoking? if there are about 50 agencies name them!
because all I remember going in a few years ago was I was waiting in line behind CTA employees in their uniforms. Not once have I seen anyone from 1 outside agency let alone 50 agencies waiting in line at my credit union( oh yeah that's how the credit union sold itself years and I'm talking years ago when they would claim to be there for the police and their families)
50 agencies cupcake? Why don't you pay closer attention! The credit union has become just like the department...... a joke
Think the state police federal credit union allows other agencies to be members? NO, you must be a trooper of family member of a trooper. Think that Navy Federal allows anyone to join? No you must be Active retired or have a family member who is or was..... what you got to say now Alice!!!
Anonymous said...
But a tiny portion of the $4 might be going to pension funds, or not.
4/05/2018 11:25:00 AM
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Credit Union and Pension Fund have nothing to do with each other.
Fuck the credit union. Jagoffs wouldnt give me a loan to a police officer. Fuck them !!!!!
While I will still bank with the CU (for me it is convenient,) I don't like the fact that they AUTOMATICALLY enrolled me in a program that I do not want nor need forcing me to opt out of that program. They should have rolled the program out over a period of time with ads, mailers, etc and let me decide if I want the program.
I also agree with so many others in that their fees are ridiculous, why charge $1.00 per transaction to use a debit card after the first 6 are free. Why aren't all the transactions free?
Hey John Gordon, how does the Ill State Police Credit Union make their money?
How can they keep costs to their customers down/free? Why can't the CPFCU adopt some of those methods instead of sticking it to it's members? It seems like everytime the CU does something it's sticking it to the members in the form of more fee's. You'll keep losing customers unless you find a way to be competitive.
Here's a suggestion...... after reading all the comments going back and forth with the dislike of this so called fee.. The credit union should charge the $4.00 fee to ANY member who is not LAW ENFORCEMENT .... case closed .. real simple. you're not a cop/police officer( strict enforcement) you will be charged the 4.00 fee. you don't like it, you can OPT out of the credit union... what's so difficult about that??.. and if they(credit union) doesn't agree with that, then the name should be changed from Chicago Patrolmen's Federal Credit Union to Chicago Peoples Credit Union..
Anonymous said...
Retiree here. Checked my checking account and no fees have been taken out, although it said I had a premium checking account Have no idea what that is or when or why I signed up for it, but at least I have no fees
4/05/2018 06:48:00 PM
Dear Retiree:
Please read the details.
You haven't been charged because it doesn't start til mid-month.
So, opt out or prepare to pay for the privilege of having a 'premier' checking account.
You are right. Must be losing a step. Evidently I made the post before I read the details
Last year I checked the beneficiary list on my accounts. None of our kids were listed, and the credit union had no explanation. I immediately closed all accounts. Something is very wrong down there.
I have a lot of money in the credit union & will be closing my accounts with these sneaky fucks as soon as my auto loan is paid off in the next 2 years. Come to think of it, I’m going to pay the loan off early now next month & see ya. I should be able to opt into this premium checking not have to opt out of it!
The credit union is not our friends. Close all your accounts with them. Vindictive, pathetic the way they treat us and supposedly its a bank for cpd. Garbage bank.
plenty of other credit unions and banks out there. most have better rates on loans too.
who can join a credit union is governed by what type of credit union it is. there are a bunch of different types but community credit unions are common where anyone in a geographical area can join. the city could have an employer credit union as well where any employee of the city could join.
it would be hard to have a viable credit union these days with as few chicago cops who are part of it. that is probably why it was opened up to more people. in any case cops are notoriously bad credit risks so it is probably to your benefit that they let in more people to dilute the risk. it appears from the list of allowed members that most are police departments anyway. just not all chicago PD.
https://www.cpdfcu.com/membership-join
there are a bunch of community credit unions you could join if you don't like this one. sometimes banks are better options. look around and see what works for you.
who can join a credit union is governed by what type of credit union it is. there are a bunch of different types but community credit unions are common where anyone in a geographical area can join. the city could have an employer credit union as well where any employee of the city could join.
it would be hard to have a viable credit union these days with as few chicago cops who are part of it. that is probably why it was opened up to more people. in any case cops are notoriously bad credit risks so it is probably to your benefit that they let in more people to dilute the risk. it appears from the list of allowed members that most are police departments anyway. just not all chicago PD.
Their choice of CTA sounds like a good choice. Doubt there would be any bad credit risks there
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