WHAT IS A CREDIT UNION?
A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of providing credit at competitive rates, and providing other financial services to its members. Our credit union exists to provide services to our local communities of New Brunswick and Highland Park, NJ. World-wide there are 52,945 credit unions in 100 countries serving 188 million members and $1.5 trillion USD in assets.
IS YOUR MONEY SAFE?
The National Credit Union Administration (NCUA), a federal government agency backed by the full faith and credit of the United States, insures your account up to $250,000. For more information on NCUA account insurance, see the NCUA’s FAQ:http://www.ncua.gov/DataApps/Pages/SI-FAQs.aspx
WHERE DO PROFITS GO?
We are not-for-profit and exist to serve our members, not to create profits for outside stockholders, so all profits get put back into the Credit Union. Some go to create lower loan rates over time, some are used to build reserves to make sure we are around for a long time, and some to give dividends and better rates on savings to you, the member.
WHY AM I CALLED A MEMBER?
You are a member because you control the Credit Union. You get to vote on your board of directors who run the Credit Union.
WHY JOIN?
Surveys of customers at banks and credit unions have consistently shown a significantly higher customer satisfaction rate with the quality of service at credit unions. Credit union membership gives you access to better rates on loans and savings and is also a significantly better value proposition for consumers than being a bank customer.
WHERE DOES MY INITIAL MEMBERSHIP FEE OF $5 GO?
We believe in supporting our community, so your $5 entrance fee goes to support other not for profits in our community. It could go to Lazos, our Mexican community partner, or to your local church. But all of it is donated to local groups designed to help the community.
WHAT IS OUR ROUTING & TRANSIT NUMBER?
021283961
