NJ Credit Unions are local banking institutions you can trust.
www.findacreditunion.com
Find Local Banks in your area. Bank reviews and information included.
www.LocalHometown.com
Provider of financial services including loan packages, banking services and insurance.
www.416fcu.org
Provider of loan packages and standard and online banking services.
www.abcopefcu.org
Provider of savings and loan packages and banking services.
www.bmsfcu.com
Provider of savings and loan products including IRA packages and bill consolidation.
www.cumcofcu.org
Provider of financial services including savings and checking options, car leasing, Roth IRAs and insurance.
www.djefcu.com
Full service credit union serving residents of Hamilton Township.
www.hhorizonsfcu.net
Providers of savings, insurance and banking services for individuals and employee groups.
www.kimblefcu.org
Nonprofit financial instituion providing services to McGraw-Hill employees. Provides information for those interested in becoming members.
www.mcgrawhillefcu.org
Provider of shared accounts, savings programs and banking options.
www.monmouthpostalcu.org
Provider of financial services including checking and savings options and loan packages.
www.morristownfcu.org
Provider of financial services including loan packages, credit options, savings and checking.
www.pinnaclefcu.org
Provider of home banking services and loan packages.
www.sjfederal.com
Provider of investment programs, loan programs and convenience services.
www.teletechfcu.com
Cooperative credit union providing banking and investment services.
www.tri-lincfcu.org
Provider of financial services including home banking opportunities and savings and loan packages.
www.tricofcu.com
Labor union representing and providing financial benefits to employee groups.
www.ufcwlocal56.com
Provider of financial services including savings and payroll deposit packages and loan opportunities.
www.ufsfcu.org
Provider of financial services including savings and checking packages and loan options.
www.unitedpolesfcu.com
NJ Credit Unions are local banking institutions you can trust.
www.findacreditunion.com
Banks meet consumers' needs, but government credit unions in New Jersey can do more than that. A credit union is owned by its depositors, meaning you (the account holder) have a say in how to run the business. Each member of a credit union gets one vote at the annual election of the Board of Directors.
Credit unions do not operate to make profit. This lets them to operate at a lower cost than traditional banks. Credit unions pass savings to you in the form of higher savings account rates and lower loan interest rates. When choosing a New Jersey federal credit union, consider:
1. The advantages of a federally chartered credit union over a traditional credit union
2. Eligibility requirements to join New Jersey federal credit unions
3. Major players among federal credit unions in New Jersey
Action Steps
The best contacts and resources to help you get it done
Learn about the advantages and disadvantages of New Jersey federally chartered credit unions
According to the National Credit Union Administration (NCUA) a federally chartered credit union is a 'financial cooperative chartered by the federal government and owned by its members. Surplus income is returned to members in the form of dividends.' A federal credit union has more protections than 'normal' credit unions. Examples include more audits of financial records, mandatory reserves to offset uncollectible loans, control of investments of surplus money and annual exams by the NCUA. The National Credit Union Share Insurance Fund (NCUSIF) bonds accounts in federal credit unions up to $100,000. The main disadvantage of a credit union is that membership is limited to groups of people with a common bond such as the same employer, association or area of residence.
I recommend: Visit the NCUA website (part of the government entity Pueblo). Learn how the NCUSIF protects your credit union deposits.
Meet eligibility requirements to join a federal credit union in NJ
Visit a prospective credit union's website or call to find out the requirements for joining. Requirements vary dramatically based on the credit union's federal charter. For example, the North Jersey Federal Credit Union is restricted to those who live, worship, work, attend school or conduct regular business in Passaic, Bergen, Essex or Union Counties, along with the city of Newark.
I recommend: See if you meet eligibility requirements for the North New Jersey Federal Credit Union.
Compare and contrast the major players among federal credit unions in New Jersey
Here is a small listing of some other New Jersey federally chartered credit unions. Affinity Federal Credit Union allows members of hundreds of various New Jersey organizations to join. Upon joining the Affinity Federal Credit Union, New Jersey residents receive multiple benefits such as banking, loans, mortgages, retirement advice, insurance and business services. The South Jersey Federal Credit Union is open to persons who live, work, attend school, worship or do business in these New Jersey municipalities: Atlantic City, Bridgeton, Camden, Lawnside, Millville, Pleasantville, Salem and Vineland. This credit union offers a variety of loans, IRAs, online banking and checking and saving accounts.
I recommend: Visit the National Credit Union Administration to search for federally chartered credit unions in New Jersey. See if you qualify to join the Affinity Federal Credit Union or the South Jersey Federal Credit Union.
Tips & Tactics
Helpful advice for making the most of this Guide
- • Shop around. As a resident or business owner in the state of New Jersey, you may qualify to join more than one federally chartered credit union in New Jersey. Make sure to compare interest rates for loans and savings accounts to get the best deal.
