Who is eligible to join?

All UFCW Local 1776 and Local 152 members and their immediate families are eligible to become members of the credit union. 

Are my deposits at the credit union insured?

Yes. Share accounts in federally insured credit unions are insured to at least $100,000 (and backed by the full faith and credit of the US Government), an amount equal to the insurance protection offered to banks. The National Credit Union Share Insurance Fund is administered by the National Credit Union Administration, an agency of the federal government similar to the Federal Deposit Insurance Corporation (FDIC).

You can learn more about credit union insurance coverage in the NCUA insurance booklet.  

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What is a credit union?

A credit union is a cooperative, democratically controlled financial institution, owned and controlled by the people who use its services, its members.  Credit unions serve groups that share something in common.  They are not-for-profit organizations, and exist to provide a safe, convenient place for members to save money and to get loans at reasonable rates.  Like other financial institutions, credit unions are closely regulated, and deposits are insured up to $100,000, an amount equal to the insurance protection offered to banks, by the National Credit Union Share Insurance Fund. 

What makes a credit union different from a bank or a savings & loan?

Banks and savings & loans are for-profit businesses owned by the stockholders who earn a return on their investments. Credit unions are non-profit organizations, owned by their members, which allows them to offer higher deposit rates and lower loan rates.

Why does the credit union have different names for its products than a bank?

Credit Union terminology reflects the non-profit, member-owned aspects of our organization. When you deposit money into the credit union, you purchase "shares," and when you write a check, you spend your shares.

• Share Account = a regular savings account
• Share Draft Account = a regular checking account
• Share Certificates = Certificates of Deposit (CDs)

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Why should I use the Teller Line Connection system instead of calling and talking to a "live" person?

First, even though we enjoy talking with our members, the T.L.C. system is usually quicker and more convenient.  You can check your balances, request withdrawals, transfer between accounts, get check clearing information, and more.  See our Teller Line Connection page for more information about this service.   

Do you still have a question?  Ask it here.

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