Spring 2021 Dispatcher

Law Enforcement’s Premier Credit Union Since 1936

SPRING 2021

DISPATCHER

FREE SECURE DOCUMENT SHREDDING AND ELECTRONIC WASTE DISPOSAL

ARMINTA ST

8:30 – 11:30 a.m.1

8:30 – 11:30 a.m.1

AV E CE EN

ARTC

OR

SATURDAY, APRIL 17

FL

Valley Traffic Division

W

The PLANT

(ARTC) 5651 W. Manchester Ave. Los Angeles, CA 90045

405 FREEWAY

SATURDAY, APRIL 10

BREWER BRANCH NOLLAN PL

(Behind the Plant) 7870 Nollan Pl Van Nuys, CA 91402

VAN NUYS BLVD

LAPD’S VALLEY TRAFFIC DIVISION

Contactless Drive Up!

W MANCHESTER AVE

Safely and securely discard documents and electronics for free. Drive up, and our team will unload your vehicle. Please wear a face covering and remain in your vehicle at all times.

We kindly ask you to observe the following rules and any posted signs at the event, so we can accommodate all members in a timely manner.

• Three-medium sized boxes of paper limit • Three-oversized electronics limit (i.e. TVs, printers, monitors, etc.)

PLEASE STAY IN YOUR CAR

• Face covering required

DO NOT EXIT

• Stay in your vehicle • No waiting to watch items being shredded or recycled View a complete list of acceptable items, limits, and more event details at lapfcu.org/shred-days or contact Natalie at (818) 779-3393 or nnahas@lapfcu.org.

PLEASE STAY IN YOUR CAR

POP YOUR TRUNK DO NOT EXIT

HAVE A NICE DAY!

*Event dates, times and location subject to change or cancellation without notice. May end early if shredding truck reaches capacity.

POP YOUR TRUNK

Read our newsletters at lapfcu.org/newsletters HAVE A for the latest news and events.

NICE DAY!

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3/18/2021 8:19:20 AM

CHAIR AND PRESIDENT’S MESSAGE Homebuying Season is Here

Spring has sprung and homebuying season is here. Why spring? People prefer to search for a home and make a move when the weather warms up. Sellers know this, and so more homes are listed for sale – more demand, more supply. Homebuying season! And as rates stay low, the economy recovers, and the country reopens, this could potentially be one of the biggest homebuying seasons ever.

Owning a home is a major goal for many Americans, and with good reason. Buying a home represents a big accomplishment. You’re putting down roots, maybe establishing a place to raise a family, and taking pride of ownership.

Buying a home can also be a very smart financial move.

Instead of paying rent, you’ll be repaying a loan, and building equity in a very valuable asset you’ll eventually own outright. You can deduct the interest you pay on your loan from your income taxes, which is another major benefit of homeownership. And finally, on average homeowners’ net worth is a whopping 40 times greater than that of renters.

So, we know that it can be very rewarding and advantageous to buy a home. But the homebuying process can be intimidating and stressful, especially for first-time buyers.

This is often the largest financial commitment you’ll ever make. With many options and decisions to make, even experienced homebuyers may have lots of questions and need guidance.

This prompts some questions. When it’s time to buy a home, who can you trust to look out for your best interests, to treat you with dignity, and to understand the unique needs and priorities of the law enforcement community?

Should you trust a company that shouts about rates on the radio, or that pops-up in your feed or web searches because of a computer algorithm, or sales professionals who work based upon commission?

questions. We also offer an exclusive HomeAdvantage program that gives you access to a pre-screened network of real estate agents, powerful research tools, and big savings. Expert LAPFCU Loan Officers will guide you to the right loan program, make sure you have a highly competitive rate, and provide a smooth financing experience with no surprises. For your safety, the entire process will be seamlessly handled with coronavirus safety top-of-mind.

Many lenders will sell the servicing rights to your loan.

That means, you could end up sending monthly payments to, and dealing with, a completely different company you’ve never even heard of after your loan closes. LAPFCU will never do that. We’ll service your loan for as long as you choose to keep it with us or until you pay it off.

Finally, when it comes to protecting your home, don’t overlook your homeowners’ insurance. This is required by your lender because they need to make sure their investment is protected. But as the homeowner, you want to choose a dependable insurance company that will be there for you and to pay insurance premiums that are fair.

We can help you there, too, with our very own in-house resource that’s insured thousands of our members.

When it comes to buying a home, your credit union is a great place to start, and we can meet all of your homebuying needs under one roof. A smart first step is applying at lapfcu.org for a fast and free pre-approval, to determine your home price range. Shopping with an LAPFCU pre-approval in-hand, you’ll also be ready to quickly submit an offer when you find the right home.

Remember, our mission is to improve your quality of life.

So, we’re here to support you every step of the way when it comes to making your homeownership dreams come true.

This homebuying season, we’ll be standing by ready to help make your homeownership dreams come true. D

Fortunately for you, you’re part of a credit union that’s been helping members achieve their financial goals since 1936. You can count on us when it comes to buying a home. You see, our mission is to be your trusted advocate and to improve your quality of life. As a not-for-profit, member-owned organization, we’re not in it to make as much money as possible. We’re here to help you. Here are some of the ways we do that: Our educational webinars will clearly explain the homebuying process, your options, and answer your 2

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Andre Plummer Chair

Edwin W. Hada President/CEO

lapfcu.org

3/18/2021 8:19:31 AM

E Whether you’re just thinking about buying a home or actively looking, we can help. A fast and free home loan pre-approval from LAPFCU is the first step. This helps determine how much you can afford monthly and a price range for your new home. It also tells sellers that you’re serious and ready to make an offer.

Next, be sure to enroll in our free HomeAdvantage® program to get connected with an experienced real estate agent while saving big with cash rewards.1

listed

And, now you can benefit from even greater savings because there are no underwriting fees when you get an LAPFCU new home loan.2 But only for a limited time!

Remember, at LAPFCU, you’re a member, not a customer, so you’ll feel right at home when buying a home. Apply now and lock in a great, low rate. Visit lapfcu.org/at-home, call (877) 695-2732, or stop by an LAPFCU branch.

Limited Time Spec

ial Offer:

SAVE WITH NO UNDERWRITING FEES!2

The HomeAdvantage program is made available to you through a relationship between LAPFCU and CU Realty Services. Program Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers or sellers are not eligible for Cash Rewards if they use an agent outside this network. Using LAPFCU for a mortgage is not a requirement to earn Cash Rewards.

Cash Rewards amounts are dependent on the commissions paid to the agent. LAPFCU may have specific rules on how your Cash Rewards will be paid out. Cash Rewards incentives are available in most states; however, are void where prohibited by law or by the lender. Please consult with your credit union to get details that may affect you. 2The no underwriting fees offer (a $650 lender credit at closing) is valid from January 1, 2021 through June 30, 2021. Offer limited to home purchase loans only and will be applied at time of funding. Refinancing a current mortgage does not qualify for the no underwriting fee offer. This limited time offer may be discontinued at any time without notice. All loans are subject to credit approval and applicable LAPFCU policies. Other restrictions may apply, please ask for complete details.

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VIRTUAL APPOINTMENTS WITH LAPFCU Stay connected with us by scheduling a one-on-one video chat with a friendly and helpful LAPFCU Associate. Our team is happy to assist you remotely with new accounts, loan applications, questions, and updating account information.

Book your free appointment today at lapfcu.org/bookings. And remember to turn your camera, microphone, and speakers on. We look forward to seeing you!

(877) 695-2732

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3/18/2021 8:19:34 AM

HASSLE-FREE CONTACTLESS AUTO BUYING Nowadays, there’s no need to even step foot in a car dealership.

When you work with Autoland, LAPFCU’s free, concierge auto buying service, they do all the heavy lifting.

Your personal Autoland consultant will find the vehicle you want, negotiate a fair price, and provide contact-free delivery right to you. They will also take care of your trade-in.

more information.

FINANCE WITH US Save 0.50% APR* on your LAPFCU auto loan when you qualify for our Member BenefitsSM program.

Check PATROL Online Banking or our app to see if you’re already pre-approved or apply at lapfcu.org.

Call us at (877) 695- 2732 for details. *APR = Annual Percentage Rate. 0.50% APR Member Benefits discount. Member must participate in automatic payment program and qualify for Member Benefits program at time of funding. Go to lapfcu.org/member-benefits/ for complete details. May not be used to refinance an existing LAPFCU vehicle loan. The following loan types are excluded from Member Benefits rate reductions: Real estate loans, mobile home loans, unsecured lines of credit, credit cards, share loans and share certificate loans. All rates, terms, and promotional offers are subject to change without notice. Cannot be combined with any other offer. Program subject to change or cancellation at any time and restrictions may apply, ask for complete details.

Get in touch with an Autoland consultant by calling (800) 234-6999 or visit lapfcu.autoland.com for

SHARE LAPFCU MEMBERSHIP WITH FAMILY AND FRIENDS $50 FOR YOU, $100 FOR THEM1 As you may know, your LAPFCU membership comes with many advantages. Whether you’re buying a car, your first home, or forever home, we have great, loan rates. If you need to refinance or transfer a high interest credit card balance, we’ll find the best solution to consolidate your debt. Whatever the financial need, or wherever you are in life, LAPFCU is at your service.

To qualify for a reward, new LAPFCU members you refer must: open a free checking account, make direct deposits or ACH credits of $250 each month, and enroll in e-Statements and e-Disclosures.

Earn up to $500!1

Employees of all L.A. County law enforcement agencies and their immediate family members can join LAPFCU2. Now, you can earn $50 for each new member you refer to us. Those you refer will get $100! Refer up to 10 people to get up to $500 per calendar year.

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START REFERRING TODAY!

Visit lapfcu.org/refer, use the ReferLive app, stop by an LAPFCU branch, or call us at (877) 695-2732.

1 Current member and referred new member must be 18 or older. Referred new member must: (1) establish a new membership with LAPFCU; (2) open a new checking account; and (3) within 90 days of account opening: (a) complete one or more direct deposits or ACH credits of $250 or more per month and (b) enroll in e-Statements and e-Disclosures. The current member will receive a $50 Visa Reward Card and the referred new member will receive a $100 Visa Reward Card. Please allow 4-6 weeks for delivery of your Reward Card after completing all requirements of this offer. For the referred new member, the $100 is considered dividends and will be reported on the IRS Form 1099-INT. Restrictions apply. Cannot be combined with any other offer.

Please refer to referlive.com/lapfcu for complete details. 2Membership charter includes active and retired, sworn and civilian employees of county or municipal police departments or sheriff’s offices in Los Angeles County and their immediate families. Immediate family is defined as: spouse, domestic partner, child, sibling, parent, grandparent, grandchild, step child, step parent, step-sibling, adopted child, legal guardianships: Domestic partnership eligibility is limited to a member’s domestic partner, as defined in LAPFCU’s Affidavit of Domestic Partnership; legal guardianship is defined by a court order.

lapfcu.org

3/18/2021 8:19:38 AM

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SECURITY ALERT: CAR WRAP SCAMS Car wrap scams are on the rise as people become more vulnerable and desperate for income during the pandemic.

This scam makes people more susceptible to predators who exploit that desperation. Here’s how it works: A fraudster promises to pay you a couple hundred dollars if you affix an advertising wrap to your car. You are told to deposit a check and keep a portion for yourself. Then, wire the rest of the money to a company that will place the ad on your car. After the wire is complete, the check bounces because it was counterfeit. So, your share from that check and the wired funds are gone, leaving you in debt, trying to to pay back your bank for the fake check.

Regardless of the angle, many scams have the same red flags to watch out for. Here are a few that will help you immediately spot a scam: 1. A ny “get rich quick” or “make easy money” message 2. A n urgent request to deposit a check or wire money 3. A nyone asking for your personal information, PIN, one-time passcode, or log in credentials For more helpful security tips and information, visit lapfcu.org/security. You can also enroll in fraud and credit monitoring services through FraudScout*, and get exclusive LAPFCU member discounts. For any fraud-related assistance, call us at (877) 695-2732. *FraudScout is not insured by the NCUA or any other government agency, is not Credit Union guaranteed, is not a deposit, and is not a condition to any banking service or activity. FraudScout is a service provided by CyberScout™.

CyberScout may modify or improve any part of the service at any time and without prior notice. This service is not a credit counseling service and does not promise to help you obtain a loan or improve your credit record, history or rating.

Restrictions apply. For additional information, visit myidmanager.com/lapfcu.

(877) 695-2732

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3/18/2021 8:19:42 AM

SHOP AROUND WHEN INSURANCE COSTS INCREASE YOUR FREE QUOTE IS JUST A PHONE CALL AWAY With recent natural disasters, and increases in costly accident and repair claims, some insurers are passing along their expenses to you, the consumer, in order to stay profitable. So, if your home insurance premium has recently increased, it’s a good time to contact LAPCUSO Insurance Services1 for a free review.

LAPCUSO is a trusted LAPFCU partner that has helped thousands of our members. Let the experts save you time by finding the right coverage for

your needs, at the best prices, from only the most reputable insurers. They’ll explain your options and customize a plan that makes sense for you. They specialize in property coverage for homeowners, renters, and landlords.

So, call our in-house LAPCUSO insurance expert, Maria Ascencio, today! A few minutes of your time could mean big savings, and provide you with peace of mind in knowing that you have the right coverage. Make sure to ask about multi-policy and other special discounts!2

MARIA ASCENCIO LAPCUSO Insurance Coordinator (818) 373-8384 cuso@bisins.com

1 Insurance services provided by Bichlmeier Insurance Services, Inc., California license #OB26427. Insurance products offered are not sold or guaranteed by LAPFCU. They are not deposits, are not federally insured, are not protected by the NCUA and may be subject to risk. Any insurance required as a condition of an extension of credit by LAPFCU need not be purchased from the Credit Union and may be purchased from an agent or an insurance company of the member’s choice. Business conducted with Bichlmeier Insurance Services, Inc. is separate and distinct from any business conducted with LAPFCU. 2Restrictions may apply, ask for complete details.

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lapfcu.org

3/18/2021 8:19:50 AM

PRODUCT HIGHLIGHTS

All rates and terms are subject to change without notice. Additional terms and conditions may apply. Call (877) 695-2732 for details.

LOAN RATES. ........................... ...................................... EFFECTIVE MARCH 15, 2021 Mortgage Rates 30 Year Fixed†. ...................... . . . . . . . . . . . . . . . . . . . . . . 3.125% / 3.149% APR* | Zero Points 15 Year Fixed . ..................... . . . . . . . . . . . . . . . . . . . 2 . 3 7 5 % / 2 . 4 1 7 % APR* | Zero Points Auto Loans New Auto / Used Auto ............................................... as low as 1.99% fixed APR** Credit Card Rates Platinum Rewards Visa®. . ....................................... as low as 8.40% variable*** APR* Classic Visa.................................................. as low as 12.99% non-variable APR My First Visa. . ............................................... as low as 12.99% non-variable APR

SAVINGS RATES .............................................................. EFFECTIVE MARCH 15, 2021 Regular Share Certificates 1-Year Certificate................................................................... 0.45% APY****^ 3-Year Certificate................................................................... 0.60% APY****^ 5-Year Certificate................................................................... 0.90% APY****^ *APR = Annual Percentage Rate. **APR = Annual Percentage Rate. Effective March 15, 2021. To qualify for 1.990% Fixed APR requires FICO score of 800 or greater, and member must qualify for Member Benefits. Actual APR offered may be higher depending upon applicant’s credit rating and other underwriting factors (Member must apply online, participate in automatic payment program and qualify for Member Benefits program at time of funding). Go to https://lapfcu.org/member-benefits/ for complete details. Only on a new or used auto loan for a 36-month term. May not be used to refinance an existing LAPFCU vehicle loan. All rates, terms, and promotional offers are subject to change without notice. Cannot be combined with any other offer.

Restrictions may apply, ask for complete details. †3.125%/3.149% APR as of March 15, 2021. Payment example: A 30 year fixed rate mortgage with a loan amount of $250,000 and no points would result in monthly payments of $1,070.94. Monthly payment excludes tax and insurance. All rates subject to change without notice. Fees run 1-1.5% of loan amount financed. Restrictions apply, ask for complete details. ***Effective March 15, 2021. Platinum Rewards Visa has a variable rate of 8.40% APR to 17.90% APR based on your creditworthiness. APR subject to change. APR will vary with the market based on the Prime Rate plus a margin. Cash advance transactions are subject to a cash advance fee which shall be the greater of $2.00 or 2% of the amount of the advance which is posted to the account during the billing cycle, but not to exceed $25.00 per cash advance. Cash advances do not have a grace period, finance charges will be assessed starting the day the charge is posted to your account. ****APY = Annual Percentage Yield. Minimum opening deposit for a regular share certificate is $500. An early withdrawal penalty may apply. ^Member Benefits program rate. Member Benefits is available to all LAPFCU members in good standing who qualify.

Member must fulfill Member Benefit Program requirements in order to receive incentives. Program subject to change or cancellation at any time and restrictions may apply. Ask for details. More information available at https://lapfcu.org/member-benefits/.

The following loan types are excluded from Member Benefits rate reductions: Real estate loans, mobile home loans, unsecured lines of credit, credit cards, share loans and share certificate loans.

Los Angeles Police Federal Credit Union is a financial institution with over $1.2 billion in assets exclusively serving active and retired, sworn and civilian employees of Los Angeles County Law Enforcement, their families and select police-related groups.

24/7 MEMBER SERVICE CALL CENTER (877) 695-2732 | lapfcu.org For account inquires or access: • Visit PATROL at lapfcu.org • Call Code 3 Automated Telephone Banking at (877) 695-2732, Press 2 To apply for a loan: • Visit lapfcu.org • Call our 24/7 Lending Center at (877) 695-2732, Press 3

BRANCH OFFICES VAN NUYS (Main Office) Communications Center 16150 Sherman Way, Van Nuys, CA 91406 8 a.m. to 5 p.m., Monday - Friday ACADEMY 1880 N. Academy Dr., Los Angeles, CA 90012 8 a.m. to 5 p.m., Monday - Friday BREWER 5651 West Manchester Ave., Los Angeles, CA 90045 8 a.m. to 5 p.m., Monday - Friday SANTA CLARITA 19195 Golden Valley Rd., Santa Clarita, CA. 91387 9 a.m. to 5 p.m., Monday - Friday

SENIOR EXECUTIVE STAFF Edwin W. Hada, President/CEO Ron Guzman, Sr. VP, Operations & Member Relations/COO Angelino Cayanan, Sr. VP of Finance & Administration/CFO All inquiries or comments regarding this newsletter should be addressed to the Marketing Department at (877) 695-2732.

The Supervisory Committee encourages any comments or inquiries from members regarding your concerns or the financial condition of the Credit Union. You may address your correspondence to: Supervisory Committee P. O. Box 14452 Van Nuys, CA 91409 All loans subject to approval of credit. We conduct business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. All rates are subject to change.

Law Enforcement’s Premier Credit Union Since 1936 0221-28

(877) 695-2732

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PRESORTED STANDARD U.S. POSTAGE PAID LOS ANGELES, CA PERMIT NO. 896

P.O. Box 10188 Van Nuys, CA 91410-0188 RETURN SERVICE REQUESTED

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SHRED DAYS!

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with LAPFCU

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EASY AUTO BUYING

SECURITY ALERTS

This Issue:

Law Enforcement’s Premier Credit Union Since 1936

DISPATCHER SPRING 2021

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3/18/2021 8:20:09 AM