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CORONAVIRUS (COVID-19) UPDATES

For up-to-date information on COVID-19 assistance, services, and branch hours, click here.

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COVID19

Important Updates About Coronavirus (COVID-19)

Online Services


A Message from Our President/CEO


Payment Deferrals

  • Loan and Visa Card Payments:
    800.222.1391

  • First and Second Mortgage Inquiries:

    You may qualify for mortgage payment assistance if you've been financially impacted by the pandemic. We are experiencing heavy call volume and wait times while we work with those experiencing financial hardships.


    The quickest way for us to assist you is by using the links below:
    1. Log into Online Banking.
    2. Click on the account tile for your Mortgage Loan.
    3. Click on the Mortgage Servicing link.
    4. Click on the red banner.

  • HELOC inquiries should be directed to the Contact Center at 800.222.1391.

 

Reduced Branch Hours and Limited Transactions 

To protect our employees, members, and communities we are increasing social distancing and reducing branch hours temporarily.

Temporary reduced branch hours

Branch Hours
San Mateo, Oakland, Pleasanton, Bryant, Irving, San Bruno 10:00 a.m. - 3:00 p.m. (Monday-Friday)


Due to the current shelter in place order, we are asking that only essential services be conducted inside our branches at this time in order for us to implement best practices regarding social distancing.


Essential transactions include:

  • Cash withdrawals or deposits (please consider using ATMs if possible)
  • Critical account ownership changes
  • Time sensitive, critical notary signings* (by appointment only; please contact us at 800.222.1391)

    *The Police Credit Union branches will only notarize “The Police Credit Union” documents. 


Transactions that should be completed online:

  • New account openings
  • Loan applications

Temporarily suspended transactions:

  • Business account openings
  • Trust account openings
  • Non-critical notary signings

To ensure our members have access to funds during this challenging time we have increased the following limits:

  • ATM daily withdrawal limits increased from $505 to $1010
  • Debit Card Limit increased from $1500 to $2000
  • Courtesy Pay limit increased from $500 to $750
  • Unlimited monthly out-of-network ATM surcharge rebates*

*The Police Credit Union will refund ATM surcharges up to $3 per out-of-network ATM transaction until further notice. Checking account is required for rebates.
Face Masks Now Required in Our Branches
Per a new ordinance by Bay Area cities and counties that went into effect on April 17, 2020, "essential businesses must take reasonable steps to require that any member of the public that enters the business wear a protective face covering". We respectfully request that you support our compliance with these regulations and wear a face covering while in our branches.

We appreciate your help in keeping our staff and other members safe. Thank you for your cooperation!
Emergency Assistance Loan Available for Members

The Police Credit Union is ready to assist members affected by business shutdowns and quarantines. If you are a member who has been impacted by COVID-19, we have the following options available:

Apply for an Emergency Assistance Loan

Members of The Police Credit Union who have been affected by the COVID-19 shutdowns are eligible to apply for a low interest rate Emergency Assistance Loan of 3% APR* for loans up to $7,500.00, up to a maximum of a 36 month term.

Loan Loan Maximum Term APR*
Emergency Assistance Loan $7,500 36 months maximum 3%

To apply, please contact The Police Credit Union at 800.222.1391.


*APR = Annual Percentage Rate. Example rate of 3% Annual Percentage Rate (APR) with 36 monthly payments = $29.08 per $1,000 borrowed. Available to members in good standing with memberships established on or before March 1, 2020 or Active Law Enforcement personnel. Rate, terms, and conditions of the Emergency Assistance Loan are subject to change and this loan can be discontinued without notice.

Assistance with Current Loans

Payment deferrals

  • Most existing loan payments and credit card payments can be deferred. Contact us at 800.222.1391 for more information.

  • For Mortgage payments, please contact 855.501.3026

Payment protection
If you are a member that has current loans with The Police Credit Union and opted for payment protection coverage that includes involuntary unemployment protection, please allow us to file a claim on your behalf. Each claim will be reviewed based on contractual language to determine eligibility.

We have many other non-loan related options and are ready to assist you during this uncertain time. Give us a call at 800.222.1391 and let us know how we can help you.

 

Message from Eddie Young, President/CEO of The Police Credit Union
At The Police Credit Union, the safety and well-being of our members is our top priority. Given the current uncertainty and turbulent times we are experiencing, I want to take this opportunity to reassure you that we are actively monitoring the situation, and provide you with important information on the Credit Union’s response to the Coronavirus (COVID-19), and how we will ensure that The Police Credit Union will continue to operate and serve you, our member.

Read full message

Keeping Our Members and Staff Safe
  • All members of our senior leadership team are staying informed by actively monitoring information from the Centers for Disease Control and Prevention (CDC) and local agencies. Staff is updated on a regular basis regarding safety and hygiene procedures.

  • We have hand sanitizer pumps and Clorox wipes available at each of our branches for members and staff.

  • We're here to serve you. If you are experiencing hardship related to the virus, contact us at 800.222.1391 and we will assist you.
What You Can Do
  • Stay informed. For more information on coronavirus, visit the Centers for Disease Control and Prevention (CDC) website.

  • Take steps to protect yourself. Wash your hands often and avoid touching your eyes, nose and mouth. Avoid close contact with people are sick, and cover your mouth and nose with a tissue when you cough or sneeze. 

  • Stay home and avoid public places if you feel sick, have a fever, or have been placed in self-quarantine. The Police Credit Union has options to assist you online or over the phone.
FAQs Regarding Card Disputes

As a result of the COVID-19 outbreak, The Police Credit Union is providing our cardholders best practices and frequently-asked questions regarding when to file for disputes.  The Police Credit Union expects our cardholders to act in good faith and make every effort to be flexible when resolving disputed transactions during this unprecedented times.

To avoid the influx of disputes that are expected due to the situation, The Police Credit Union is encouraging our cardholders to resolve issues with merchants directly first before initiating the dispute process with The Police Credit Union. Furthermore, many merchants are offering refunds and have adopted flexible policies (e.g., fee waivers and vouchers/credits), but due to the expected high volume of cancellations and refund requests related to the COVID-19 pandemic, please give merchants adequate time to process a refund before initiating the dispute process with The Police Credit Union.

We have provided best practices and frequently-asked questions (FAQs) below to guide you when to file for disputes.

Disputes Involving Cancellations by a Merchant 

 

  • The cardholder purchased goods/services and the merchant decides to cancel the good or service. For example, an airline cancels a flight due to low demand. Does an issuer have dispute rights

    Yes
    , there is a dispute right when goods/services are not provided for any reason, including bankruptcy or other circumstances. The EXCEPTION is cancellations due to government prohibition as government regulation and/or law supersedes card rules on dispute rights. Our expectation is that issuers require a cardholder to attempt to resolve disputes with merchants before initiating a dispute.

  • The cardholder purchased goods/services and the merchant cancels the good or service due to a government prohibition.  For example, an airline cancels a flight because the government closed the border or a gym closes operations because of a government mandate to cease operations.  Does an issuer have disputes rights? 

    No
    , if the merchant has not provided the service due to a government-imposed prohibition, the cardholder does not have a dispute right. Government regulation and/or law supersedes Visa rules on dispute rights. The cardholder should work directly with the merchant to resolve. 

 

  • A cardholder has tickets for an event such as a sports match, a concert or a theater performance that was cancelled and rescheduled; however, the cardholder does not want to attend the event on the alternate date chosen by the merchant. Does an issuer have dispute rights?

    Yes.
    The merchant is responsible for providing the purchased service on the agreed upon date and the cardholder is not required to accept an alternate date.  However, if the reason for the cancellation of the event was due to a government-imposed prohibition on proceeding with the event as originally scheduled, then the cardholder would not have a right to dispute the transaction. Government regulation and/or law supersedes Card rules on dispute rights. The cardholder should work directly with the merchant to resolve.  

  

Disputes Involving Cancellations by a Cardholder

 

  • The cardholder purchased services, however chose not to use them due to the cardholder’s concerns related to COVID-19. For example, the cardholder chooses not to travel on their scheduled flight and cancels their ticket. Does an issuer have dispute rights?

    No
    , the issuer does not have dispute rights if a cardholder chose not to use services made available by a merchant, as the merchant has fulfilled its obligations to provide the service and has properly disclosed its terms and conditions. This also applies to non-airline merchants, such as hotels and other venues that kept their obligations to deliver services. The cardholder should work directly with the merchant to resolve.  

 

  • A cardholder is unable to take a scheduled flight due to travel restrictions on the cardholder. For example, a cardholder may not be permitted to board a scheduled flight due to their nationality (as a result of government travel restrictions) or medical symptoms, or the cardholder cannot reach a hotel stay due to border closures. Does an issuer have dispute rights?

    No
    . The issuer does not have disputes rights if a cardholder cannot use or access services made available by a merchant as long as the merchant and has properly disclosed its terms and conditions. This also applies to non-airline merchants, such as hotels and other venues that kept their obligations to deliver services. The cardholder should work directly with the merchant to resolve.

 

  • A cardholder missed their flight (for any reason) and as a result, missed a subsequent separate non-refundable service, such as a cruise or prepaid hotel reservation. Does an issuer have a Dispute right for the subsequent missed service? 

    No. The issuer would not have dispute rights for the subsequent missed service. The cardholder should work directly with the merchant to resolve. 

 

Use of Credit / Vouchers in Lieu of a Refund 

 

  • A cardholder purchased a good or service and decided to not to use it, however the merchant was willing and able to provide the purchased goods / service. As a courtesy, the merchant offered a credit / voucher for future use.  The merchant went bankrupt before the cardholder uses the credit / voucher.  For example, a cardholder calls the airline and does not want to travel because of COVID concerns so the airline issues a credit voucher for future use. Does the cardholder have a dispute right?  

    No
    . The merchant was able to provide the service and the cardholder cancelled outside of the merchant’s properly disclosed policy.  Since the issuer did not have the dispute right for a refund on the original transaction, the extension of the voucher by the merchant to the cardholder does not later change the dispute rights.

             

  • A merchant notifies the cardholder they are cancelling the service and offers a voucher for future use. Even though the cardholder has a right to dispute the transaction and receive a refund, the cardholder agrees to accept the voucher. If the merchant then files for bankruptcy before the cardholder uses the voucher, does the issuer have a right to file a dispute?

    Yes
    . Since the issuer had the dispute right to get a full refund, the acceptance of the voucher does not change those dispute rights. The cardholder would have to file the dispute in the appropriate time frame which is either 120 calendar days from the transaction date or 120 calendar days from the last date that the Cardholder expected to receive the merchandise or services, not to exceed 540 days from the transaction date. 

             

Disputes Involving the Purchase of Gift Cards 

 

  • The cardholder purchased a proprietary gift card from a merchant.  The merchant goes out of business and the cardholder calls the issuer to initiate a dispute as they cannot receive goods/services or a refund from the merchant.  Does the issuer have dispute rights?

    Yes.
    The gift card represents purchased services and the merchant is unable to provide the service.   The timeframe to dispute the transaction is either 120 calendar days from the transaction date or 120 calendar days from the last date that the cardholder expected to receive the goods/services, not to exceed 540 days from the transaction date.

 

  • The cardholder purchased a merchant-specific proprietary gift card from a third-party (e.g., a grocery store) using their card. The merchant named on the gift card ceased operations.  For example, cardholder buys a restaurant gift card from a gift card display at the local grocery store. The restaurant goes out of business before the cardholder redeems their gift card. Does the issuer have a dispute right? 

    Yes
    . There is a dispute right when goods/services are not provided for any reason, including bankruptcy or other circumstances. Cardholders must first attempt to resolve the dispute with the merchant of record (in this example the local grocery store).  The dispute would be against the acquirer of the local grocery store who is the merchant of record on the gift card sale and is ultimately responsible for that transaction. The timeframe to dispute the transaction is either 120 calendar days from the transaction date or 120 calendar days from the last date that the cardholder expected to receive the merchandise or services, not to exceed 540 days from the transaction date. 

 

Additional General Questions: 

 

  • Due to a merchant cancellation of a service, the cardholder incurs additional out-of-pocket expenses. For example, a cardholder’s flight is cancelled, and they are rebooked for a flight the following day. The cardholder takes a taxi to a nearby hotel to stay the night and wants to be reimbursed for the additional cost of the taxi and hotel.   Can these be included in the dispute?
     
    No
    , the dispute value is limited to the value of the services not received. 

 

  • If a cardholder orders merchandise from a merchant and the merchandise is not received by the expected date, can a dispute be pursued?

    Yes
    . If the merchant fails to provide the merchandise by the expected date, the cardholder would have a valid dispute. Issuers are reminded that cardholder must first attempt to resolve the dispute with the merchant.

 

  •  A cardholder attempts to return merchandise within the merchants disclosed policy; however, the merchant’s location has been closed for business due to the COVID-19 restrictions, or is no longer in business. Would there be dispute rights?

    Yes
    , the issuer can process a dispute. However, if the acquirer can demonstrate that the merchant was open and able to accept return of the merchandise, the liability will sit with the issuer.  The issuer is encouraged to remind the cardholder to contact the merchant directly as some merchants have extended their return windows during this time.
IRS and Economic Impact Payments (Stimulus Payments)

When the CARES Act was signed into law on March 27, 2020, nearly $500 billion was allocated for disbursement to 140 million taxpayers. These stimulus disbursements from the U.S. Treasury are being referred to as Economic Impact Payments (EIPs).  

On April 11, 2020, the IRS said via Twitter that it had “deposited the first Economic Impact Payments into taxpayers’ bank accounts.” In actuality, the IRS had transmitted, via the U.S. Treasury, the first of several files of Direct Deposits to the Federal Reserve for this first round of Economic Impact Payments. All of the payments in this first round will have the settlement date of Wednesday, April 15. 

The Police Credit Union has provided the following Q&A to answer your inquiries regarding your stimulus payments:

  • The IRS says it has “deposited” money into taxpayer’s bank accounts, but I don’t have my money yet. What’s going on?

    The IRS will be sending Economic Impact Payments over the next several weeks to those eligible. The first wave, an estimated 81 million payments, includes many of those who have provided their bank account information through filing their taxes in 2018 or 2019 or through other federal programs. Not all of the payments have been sent yet. In this first round, the IRS will continue sending payments through Monday night, with instructions to make the deposits on April 15. All of our customers that are getting payments in this round will have the money by Wednesday morning.

  • Will EIPs be issued as a check or direct deposit?

    The expectation is that individuals who have filed their 2018 or 2019 tax returns, receive Social Security (SSA), or Railroad Retirement Board (RRB) payments will receive the payment as a direct deposit.

    If an individual has not filed a tax return or received an SSA or RRB payment, a web-based portal will be created for individuals to provide their banking information to the IRS. This will allow individuals to receive payments immediately as opposed to waiting to receive a check.

    The link is below for taxpayers who have not filed their income tax or to provide IRS their bank account information:

    2nd IRS Web Portal

    https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

    Information members need to provide:

    This will help our members to receive their stimulus checks faster than by check.

  1. Full name, current mailing address and email address
  2. Date of birth and valid social security number
  3. Bank account number, type and routing number (if they have one)
  4. Identity Protection Personal Identification Number (IP PIN) they received from the IRS earlier this year, if they have one
  5. Driver's License or state issued ID, if they have one
  6. For each qualifying child: name, social security number or Adoption Taxpayer Identification Number and their relationship to the member or their spouse.
  • When should I expect to see these EIPs come as direct deposits into my credit union account?

    Direct Deposits are expected to be received as early as April 8. Keep in mind, not every individual will receive payments on the same day. The process for EIPs will be the same as Tax Refunds; Direct Deposits are created on Fridays for settlement on Wednesdays. It is expected that the first batch received will be the largest and additional batches will be transmitted each Friday until all the payments have been sent. Paper checks are expected to be mailed as soon as the week of April 6.

    Each person identified as eligible to receive a payment will receive a notice that provides them with information on the amount of the payment, how it will be delivered (direct deposit/paper check), and a phone number at the Internal Revenue Service (IRS) to call if the payment is not received.
  • How will I identify EIPs in my account?

    For Direct Deposit entries, the Company Name will be ‘IRS TREAS 310’ and the Entry Description will be ‘TAX REF’. For paper checks, the memo line will indicate that it is for EIP; an exact description has not been provided at this time.

  • Will the individual’s Social Security Number be included in the Direct Deposit Entry?

    Yes, the individual’s Social Security Number will be in the Individual Identification Number field of the Direct Deposit entry, just like a tax refund.

  • Will the stimulus payment be subject to garnishment or collection by the credit union?

  •    Yes.

  • What about the taxpayer that received refund anticipation loans? Will the EIP be directed to the tax preparer?

    There is no definitive answer at the time of this publication. The Bureau of Fiscal Services and IRS are working on this issue.
Online Options for Members
  • Take advantage of our online services, including our Mobile Banking app, which allows you to deposit checks, transfer funds, and pay bills from your phone any time if you're not able to make it to a branch in person.

  • Our Contact Center is available at 800.222.1391 from 7:00 a.m. - 7:00 p.m. Monday through Friday, and 9:00 a.m. - 3:00 p.m. on Saturdays.

  • Members interested in applying for loans can apply online using the "Apply Now" links on our homepage.

  • We want to remind you that you can place all of your personal and business check reorders 24/7 safely and securely at www.OrderMyChecks.com


As we are coming to realize, what we face today are truly uncharted waters. However, during these uncertain times, what matters most is that you know as your financial partner, we are here for you! Use the contact us form below to tell us what you need and we will do our best to work together with you.
If you have inquiries related to loan payment deferrals, please call us directly at 800.222.1391.