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/   Spotlight

Many financial institutions assume that digital banking is lucrative because the most valuable customers happen to bank online. While there is certainly a correlation between online bankers and higher profitability, quantitative evidence suggests that...

Fast Facts: Student Loans

January 22, 2013
/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast...

Intuit 2020 Report: The Future of Financial Services

April 11, 2011
/   Insights

Today, Intuit released the latest edition of the Intuit 2020 report, Intuit 2020 Report: The Future of Financial Services, which identifies and examines four key trend areas that will  transform the financial services industry...

The Top 10 Trends in the Digital Banking Industry

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/   Spotlight

2014 is rapidly approaching and as the year wraps, the Digital Insight team has pulled together the top 10 trends in the digital banking industry based on data and trends from studying financial institutions....

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/   Insights

In the most recent election cycle, like most others before it, the one sector of the economy that got the most attention was small business.  This is the future, we were told by every...

Making Banking Fun: Gamification in Financial Services

August 5, 2013
/   Insights

Recently, the Banking.com team sat in on American Banker’s webinar, “Gamification in Financial Services: Five Proven Ways to Get an Edge,” which shared how leading brands in financial services have applied gamification to reach...

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/   Insights

The ongoing fascination with Apple’s $3 billion purchase of Beats Electronics is entirely understandable, because it’s a cool story. However, it also says a lot about what’s going on between finance and tech.

What We’re Reading

May 5, 2011
/   Spotlight

Below are interesting stories the Banking.com staff has been reading over the past week. What have you been reading? Let us know in the comments section below. Virtual Banking Worlds Provide Tangible Lessons American...

Financial Literacy Month: How are you celebrating?

March 22, 2013
/   Insights

With April approaching, it’s almost time to kick off Financial Literacy Month! Strongly supported by the United States Congress and the Financial Literacy and Education Commission, Financial Literacy Month aims to promote the importance...

In an industry where so many financial institutions are trying to provide the same services in order to stay competitive, it is important that they also stand out in their communities. Jim Bedinger, COO of Chicago Patrolmen’s Credit Union and CEO of National Police Credit Union, shares how he’s working towards reaching a targeted audience and community – police members and their families.

In a few sentences could you please tell us a bit more about National Police Credit Union?
National Police Credit Union (NPCU) is a marketing division of Chicago Patrolmen’s Federal Credit Union (CPFCU) and has been serving the needs of police officers and their families since 1938. It is an online marketing portal through which any Fraternal Order of Police member and their immediate families may join. CPFCU exclusively served the Chicago Police Department until 2011, when it began expanding to other police departments in the Chicagoland area and the State of Illinois, with the most recent addition being the National Fraternal Order of Police in 2014.
How does National Police Credit Union work to help serve the financial needs of Fraternal Order of Police members?
Our mission is to serve the financial needs of police officers and their families and to help them realize their life goals. We are a full service financial institution that offers a full array of products and educational services to our members. The NPCU marketing division helps to bring those products and services to a broader police audience like the Fraternal Order of Police. NPCU is the sole institution to partner with the Fraternal Order of Police to specifically provide auto loans to FOP members.

Why did Chicago Patrolmen’s Federal Credit Union see a need to create the National Police Credit Union?
The NPCU was established to avoid confusion as to who can join the credit union. Many Fraternal Order of Police members who see Chicago Patrolmen’s Federal Credit Union’s name in print may automatically assume it is just for Chicago Police Officers or that only law enforcement in the Chicagoland area is eligible. NPCU also conveys, via its name, a broader reach in scope and area. It provides police credit union membership to Fraternal Order of Police members and their families located anywhere in the United States, especially those FOP members who currently do not have access to a police credit union.

Have you found that police officers and their families have needs that differ from the general community? If so, what are some examples?
Police officers and their family members share many of the same needs that all American families face. However, police like to have products and services that are tailored to them. We offer a uniform loan to help pay for officers’ equipment and uniforms. CPFCU also offers police-themed debit and credit cards, like our Copper Card, which is a credit card that offers 1% cash back on purchases. These cards also benefit individual state and local FOP Lodges and help them to save money. Our credit card rewards program will allow CPFCU to set up “local” charities where members can use their rewards points to make a tax deductible donation to the police charity of their choice. One example is the Chicago Police Memorial Foundation, which benefits Chicago Police Officers and their families.

How has NPCU helped connect Chicago Patrolmen’s Federal Credit Union to the police officer community?
While Chicago Patrolmen’s Federal Credit Union has always been connected to the local police community, NPCU is an avenue for CPFCU to connect with and offer the benefits of police credit union membership to a nationwide police audience. CPFCU has tailored some of its offerings, like adding online loan and membership applications, e-documents and expanded Call Center hours to serve all Fraternal Order of Police members nationally.

What feedback have you received from police officers and their families in the community?
We have always been a big supporter of the police community through heavy involvement with the various police officer personal and professional organizations, police-related events, fund raisers and charitable causes. We are the founding sponsor of the Chicago Police Memorial Foundation and our CEO Scott Arney served as the first Chairman of the foundation. Members express their appreciation of the credit union both verbally and through testimonials. The National Police Credit Union marketing division has been very favorably received at the various Fraternal Order of Police meetings and functions across the country that we attended this year and feedback has been very positive.

To learn more about National Police Credit Union, please visit their website for their most up-to-date events and community happenings.

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James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.

Brad Strothkamp

http://www.forrester.com/rb/analyst/brad_strothkamp