John LaRosa’s Letter to Members

PFFCU Member Bonus: It Pays to Be a Member!

As a member focused organization, our mission is to be your primary financial services provider by delivering superior member service, lower loan rates, higher savings yields, and lower fees. In 2018, we want to do more by putting more cash back in your pocket with our new Member Bonus Program.*

This year, in addition to the many other benefits of PFFCU membership, we plan to return a portion of our income to our members. All members in good standing are eligible to receive up to $1,000! Your exact Member Bonus will be determined by the amount of interest we pay you on deposits, the interest you pay us on loans, and the amount of courtesy overdraft fees you pay. As a member, you may earn 5-10% of your loan interest paid and 5-10% of your deposit interest earned. We also know that overdrafts happen to even the most careful of people, and we will be returning 5-10% of your paid courtesy overdraft fees. It’s our way of saying we value your membership and thank you for your business.

PFFCU sells almost all 20 and 30 year fixed rate first mortgages to Fannie Mae for interest rate risk management reasons. Because the interest on these mortgages is paid to Fannie Mae and not PFFCU, it will not be included in the Member Bonus program calculation. You can refinance a Fannie Mae mortgage into a 15 year loan or 7/30 ARM and your interest paid will be calculated as part of the Member Bonus program. Please contact us to learn more. You may qualify for a free EXPRESS Refinance offer.

We invite you to maximize your Member Bonus by doing more business with PFFCU. Simply stop by any PFFCU branch or call 215-931-0300 or 800-228-8801 to speak to a Member Service Representative. The Member Bonus Program has been approved by the Board of Directors and the bonus will be paid in December 2018. The exact amount to be paid to members won’t be known until November 2018 and is dependent upon PFFCU’s financial performance during the year and final approval by the Board of Directors. Specific details on the Member Bonus Program will be available online at in March.

Savings Rates that Beat the Competition

PFFCU raised rates in January to continue to offer you great short and long term savings rates so you can grow your money faster. Our yields are superior to the competition. We make it easy for you to open an account or transfer funds from other financial institutions. Simply stop by any PFFCU branch, call 215-931-0300 or 800-228-8801 to speak to a Member Service Representative, or visit us online at

1. Rates effective January 2018 and are subject to change. Annual Percentage Yields (APYs).
2. Competitors’ account information is based as of December 6, 2017.

Renovations at our Castor, Grant, and Center City Branches

Our Castor, Grant, and Center City Branches have been in service for many years and are in need of some renovations. To improve your experience at our branches we have recently renovated or have planned renovations for these three branches. Please pardon our appearances as these branches are refurbished.

Castor Branch Renovations 
Our Castor Branch was updated in November, 2017. We installed all new teller stations, lighting, wall covering, and flooring to brighten and refresh the branch.

Grant and Academy Branch Renovations 
Last fall our Grant and Academy Shopping Center Branch celebrated 25 years of service. This spring, we are updating the teller stations, repainting, and installing new lighting and flooring to better serve our members.

901 Arch Street Branch Renovations 
After the completion of our Grant Branch renovations, we will begin work on our Center City Branch. This Branch will undergo extensive renovations including new teller stations, new lighting, wall and window coverings, and flooring. In addition, the entrance lobby area will receive new doors, wall covering, paint and flooring.

New Phone System

We are currently updating our phone system to better serve you. We invested in a sophisticated new phone system to improve reliability and functionality. The new system will be fully implemented by the end of February.

A Fresh New Look for Coming soon!

We are in the process of updating our website which will be completed by the end of January 2018. Our new site gives you the best experience possible no matter what type of device you use. It has a fresh new look that’s brighter and easier to read. You’ll also be able to access Online Banking and your accounts with ease, just as you do today.

Mobile App Upgrade

Our Mobile App allows you account access on-the-go. A new update will be released in early 2018 which will improve response time for account and transaction loading on your mobile device. You will also be able to edit your Bill Pay payees, and customize your account view and display order. If you have an Android device that allows Touch ID, you’ll now be able to login quickly and securely with your fingerprint.

Thank you for your continued support of PFFCU. The Board of Directors and I are committed to continuing to earn your Trust by providing superior ServiceValue, and Convenience. However, if you are not satisfied with the service you are receiving, please ask to speak to a PFFCU manager to address your concern immediately or email me at or write to me at PFFCU, 901 Arch Street, Philadelphia, PA 19107.


John LaRosa

Chief Executive Officer and
Treasurer of the Board of Directors

* The Police and Fire Federal Credit Union Member Bonus program is subject to change at any time, without notice. The Member Bonus amount, when paid, is dependent on Police and Fire Federal Credit Union’s financial performance and is not guaranteed. The Member Bonus is based on deposit interest earned, loan interest paid and courtesy overdraft fees paid January 1, 2018 through November 30, 2018. First mortgages sold to Fannie Mae and Student Loans are not eligible for the Member Bonus. To receive the Member Bonus, you must meet all eligibility criteria and be a member in good standing on the deposit date in December 2018. When paid, the Member Bonus will be deposited into the S1 Savings Account. Member Bonus payout requires that you must have accumulated enough deposit interest, loan interest or courtesy overdraft fees to qualify for at least a $1 Member Bonus. Maximum Member Bonus payout is $1,000. The Member Bonus may be taxable and a portion will be included on a 1099-INT form for 2018.



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