John LaRosa’s Letter to Members

In 2019, We Returned $20 Million to Members!1

We are proud to continue our Member Bonus program. On December 10th, PFFCU posted $20 million into our members’ accounts. As a member, you earned 10% of your loan interest paid, deposit interest earned, and courtesy overdraft fees paid January 1, 2019 through November 30, 2019. All members in good standing were eligible to receive up to $1,000. We value your membership and the Member Bonus program is our way of saying thank you!

We invite You to Maximize what You Earn in 2020!2 The more business you do with PFFCU, the bigger your bonus! One way you can do that is to refinance your loans held elsewhere with PFFCU. Why not let that interest earn you money back? For details, visit PFFCU.org/Member Bonus.

Pictured left to right are: Gina Tobin (SVP Human Resources), Ruchin Patel (SVP Sales and Business Development), John H. Richardson (Vice Chairman, Board of Directors), John LaRosa (Treasurer and CEO, Board of Directors), Tom Nolan (Police Chief and Public Safety Director, Upper Merion Township), Dennis Rubin (Fire and EMS Chief, Upper Merion Township), John Lacca (President, CRO), Matt Dorsey (Branch Manager), Penny Sirorine (SVP Branch Operations), David Storione (Regional VP), and Mark Bostwick (Lead Business Development Officer).

 

Our new Haverford Avenue Branch opened on September 3rd and our new King of Prussia Branch opened on October 15th!

This King of Prussia Branch is conveniently located at 236 West DeKalb Pike, near the intersection of Route 202 and North Henderson Road, convenient to the Pennsylvania Turnpike. Members have access to a 24-hour walk-up ATM, instant issue Debit Cards, and self-service coin counting.

New Branches Coming Soon to Better Serve You!

This year, we plan to open two additional branches and relocate our Andorra Branch. Our new Montgomery Mall Branch will open in February. This free-standing branch will be located on Route 309 at Montgomery Mall next to Chick-Fil-A and near Wegmans. It features a drive-up teller window, walk-up ATM, instant issue Debit Cards, and self-service coin counting.

In March, our Marlton Crossing Branch in New Jersey will open. This will be our third New Jersey Branch and our 17th PFFCU Branch. It will be conveniently located in the Marlton Crossing Shopping Center at 237 Route 73, near the intersection of Route 73 and Route 70.

In April, we are relocating our Andorra Branch 6 blocks from the current location to a new larger stand-alone building located at 9165 Ridge Avenue at the corner of Northwestern Avenue.

We look forward to providing you additional branch convenience and seeing you at our new locations.

We now offer Real Estate Lending in Florida!

Ready to head south? Or already there and looking to purchase or refinance your Florida home? We now offer affordable mortgage options in Florida. If you already have your winter get-away and you’re looking to remodel your home, complete smaller home improvements or tackle consolidating higher-interest debt into one low monthly payment, we can help with that. Our affordable Home Equity Loans and Home Equity Lines of Credit give you the financing you need to make it happen. Experience the same personalized service and savings now in Florida too.

PFFCU Will Never Call You to Ask for your Personal Account Access Information.

Security is top priority at PFFCU. Some financial institutions have recently reported customers receiving phone calls from an impostor “Security Officer of a Bank” asking them to confirm suspicious transactions on their accounts. Once the customer confirms the transactions are not valid, the impostor proceeds to “verify” the authenticity of the customer by asking him/her to provide their login identification, the Secure Access Code (SAC), and Debit Card/PIN (Personal Identification Number) information. Once the fraudster has this valuable information, he/she can complete various financial transactions from the customer’s account to theirs. Know that PFFCU will never call you to ask for your SAC or PIN. If a representative from a financial institution calls you and asks for any personal information, hang up and call them at their main number. Never give your personal account access security information over the phone.

Your Savings Earn More at PFFCU!

Our Premium Yield Account (PYA) and Certificate accounts provide savings opportunities to make the most of your money.

Our PYA earns higher yields than bank money market accounts and money market mutual funds. There are no minimum balance fees and you can enjoy easy access to your funds by phone, online or in person at a branch.

PFFCU Certificates offer short and long term savings yields. It’s easy to open an account or transfer funds from other financial institutions and lock in your savings. Simply stop by a Branch, call 215-931-0300 or 800-228-8801, or visit us online at PFFCU.org.

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 Service, Value, 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 contact MemberService@PFFCU.org.

Sincerely,

Chief Executive Officer and Treasurer of the Board of Directors


1. Student Loans were not eligible for the Member Bonus. To have received a Member Bonus, you must have met all eligibility criteria and had an account in good standing on the deposit date. You must not have caused PFFCU a loss with a charged-off loan(s) and/or a negative share charge-off(s) in the last five years, and 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 was $1,000. First mortgages sold to Fannie Mae that were active as of November 30, 2019, were eligible to receive up to $100 for the Member Bonus Program in 2019. The Member Bonus may be taxable and a portion will be included on a 1099-INT form. Police and Fire Federal Credit Union does not provide tax advice, please consult a tax advisor.
2. 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. Student Loans are not eligible for the Member Bonus. To receive the Member Bonus, you must meet all eligibility criteria and have an open/active savings account and be in good standing on the deposit date. You must not have caused PFFCU a loss with a charged-off loan(s) and/or a negative share charge-off(s) within the current year or the previous 5 years. 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. First mortgages sold to Fannie Mae that are active as of November 30, 2020, may receive up to $100 for the Member Bonus Program in 2020. The Member Bonus may be taxable and a portion will be included on a 1099-INT form. Police and Fire Federal Credit Union does not provide tax advice, please consult a tax advisor.
3. PFFCU PYA APY (Annual Percentage Yield) is effective as of 12/3/2019 and is subject to change without notice.
4. PFFCU Certificate APYs are effective as of 12/3/2019 and are subject to change without notice.
5. Competitors’ APYs are effective as of 12/3/2019 and subject to change.

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