Who Is NWNJ Federal Credit Union?
NWNJ Federal Credit Union is a federally insured credit union, and was founded in 1974 to service members from New Jersey Bell Telephone and AT&T. Through the years, we have grown to include in our field of membership Verizon, Royal Lubricants Company, Sammons Communications, McWilliams Forge, and Kohl’s of Roxbury NJ.
What Is A Credit Union?
A credit union is a cooperative financial institution, owned and controlled by the people who use its services. These people are members and shareholders. Credit unions serve groups that share something in common, such as where they work, live, or go to church. Credit unions are not-for-profit, and exist to provide a safe, convenient place for members to save money and to get loans at reasonable rates.
Credit unions, like other financial institutions, are closely regulated. They operate in a very prudent manner. The National Credit Union Share Insurance Fund, administered by the National Credit Union Administration, an agency of the federal government, insures deposits of credit union members nationwide. Deposits are insured up to $250,000.
Credit union roots developed in the 1800's in Europe and started in the United States in 1908 when the first credit union was established in Manchester, New Hampshire. Today, more than 9,500 credit unions serve over 82 million members in the U.S. to a total of more than $520 billion in assets.
FACT - Did you know that there are over 226 credit unions in the state of New Jersey, servicing over 1.1 million members and with over $11.3 billion in assets?
Why Join A Credit Union?
Credit unions provide access to reasonably priced financial services where profits are returned to member-owners in the form of low fees, lower loan rates and higher interest on savings. Financial safety is provided through $250,000 of deposit insurance, by the National Credit Union Association Share Insurance Fund, an agency of the Federal Government.
Even after a member leaves the Field of membership he/she may remain a member of the Credit Union - for a lifetime! ONCE A MEMBER, ALWAYS A MEMBER!
As a member of NWNJ Federal Credit Union, you have an opportunity to give your family members a gift that will last a lifetime - Membership in NWNJ Federal Credit Union. Membership is open to members of your immediate family, including, spouse, children, grandchildren, grandparents, sisters, brothers, aunts, uncles, nieces, and nephews. Also included are stepparents, stepchildren, step-siblings, and any other family members.
Take the time to sign up all of your family members and let them enjoy the full services of NWNJ Federal Credit Union. Your family members will be glad you did! And remember, "Once A Member, Always a Member" at NWNJ Federal Credit Union.