A credit union is a member-owned financial cooperative that provides a variety of financial services, similar to a bank. Unlike traditional banks, which are profit-driven and owned by shareholders, credit unions are non-profit organizations that prioritize serving their members. Credit unions reinvest their profits and pass them along to their members, not shareholders. Member-owned and led translates to lower fees, higher savings rates, more conveniences, and better loan terms.

One of the standout characteristics of credit unions is their dedication to serving the community. They aim to provide personalized customer service and support to their members, which is something Picatinny Federal Credit Union takes a great deal of pride in. The benefits of a credit union membership are endless!

What makes Picatinny Federal Credit Union different from a bank?

Lower Fees and Better Rates

• Lower Fees: Picatinny Federal Credit Union offers lower fees on services like checking accounts and loans compared to traditional banks.
• Competitive Rates: PFCU provides competitive interest rates on savings accounts, auto loans, mortgages, and credit cards.

Member-Focused Service

• Personalized Service: PFCU is known for its personalized customer service, ensuring that members receive attentive and tailored financial advice.
• Member Ownership: As a member-owned institution, you have a say in how the credit union is run, including voting on important decisions and electing the board of directors.

Community Involvement

• Local Focus: PFCU invests in the local community and supports various community initiatives, creating a strong sense of community among its members.
• Financial Education: PFCU offers financial education resources and programs to help members manage their finances better.

ATM Networks

• Fee-Free ATMs: Members have access to more than 55,000 surcharge-free ATMs worldwide with the Allpoint Network, making it convenient to withdraw cash without incurring extra charges.
• You can find Allpoint ATMs at select locations of major retailers, including Target, Costco, Walgreens, CVS and Shop-Rite.

Non-Profit Status

• Focus on Members: As a non-profit organization, PFCU prioritizes the financial well-being of its members over generating profits.
• Reinvestment: Profits are typically reinvested into the credit union to improve services and offer better rates.

Exclusive Member Benefits

• Insurance Options: PFCU offers various insurance plans, including accidental death, hospital accident plans, and recuperative care, providing members with additional financial security.
• Relationship Rewards: All members are automatically enrolled in Relationship Rewards allowing you to earn services and discounts. The free program offers four relationship levels — Valued, Preferred, Premier, and Platinum — based on the combined balance of your savings, checking, and loan accounts.

These benefits make Picatinny Federal Credit Union a great choice for individuals looking for lower costs, personalized service, and a community-oriented approach to banking. So, are you ready to become a member of a credit union? Do you think Picatinny Federal Credit Union might be a good fit for your needs? If so, you’ll want to know how to join!

Can anyone join a credit union?

Credit union membership requirements vary in order to join. Some of the criteria may include employment, geographical location, and membership in an organization. Those who live, work, worship, or go to school in Morris, Essex, Somerset, Union counties are eligible to join Picatinny FCU. You might also ask, “What do I need to open a credit union account?” That will also vary depending on the credit union, but it is required to open a savings account with a minimum deposit of just $5 to join Picatinny FCU.

If you want to know how to join a credit union, you’re in luck, because we make joining easy! Follow these simple steps to start experiencing the PFCU difference:

• Open your new account at Picatinny Federal Credit Union. Stop by any branch location for personalized assistance or apply online.
• Switch any direct deposits from your previous financial institution to your new Picatinny Federal Credit Union account.
• Update any automatic payments you have set up from your old account to your new Picatinny Federal Credit Union account. This may require notifying the companies that are currently deducting payments from your old account.
• Stop using your old accounts, but don’t close them yet. Leave enough time for outstanding checks or withdrawals to clear the old account. This can take up to 12 business days.

If you’re looking for a personalized, community-oriented approach to banking, then a credit union is the perfect fit for you. For 85+ years, Picatinny FCU has been dedicated to helping our members and community thrive. We support members like family and help them navigate financial needs through all stages of life. Experience all the credit union membership benefits today. Visit your nearest Picatinny Federal Credit Union branch to open an account online to join our growing family of members!