Skip to content
FRB CU Home
|
Welcome
|
Privacy
|
Services
|
Share Accounts
|
Loans
|
Fees
Your Credit Union Is a Not-for-Profit Financial Cooperative that exists to provide a broad range of financial services to its members. Credit Union members share a common bond of philosophy and employment.
The Field of Membership is limited to current and retired employees of the Federal Reserve Board; employees of the Federal Reserve Banks permanently stationed in Washington, D.C.; the Board of Governors of the Federal Reserve System; and employees of the credit union. The immediate family of each eligible member and permanent members of their household are also eligible for membership, as are organizations of such persons.- Immediate Family Members are defined as spouse, parent, child, sibling, grandparent, and grandchild. Adoptive and step-relationships are also included in the definition.
- Household Members are people living in the same residence and include domestic partners, roommates, and family members.
Credit Union Principles. As a member of the Credit Union you are a part owner of an institution that is unique in the financial world. The Credit Union is democratically controlled. As a member-owner, you have one vote regardless of the amount deposited in the Credit Union. Credit Union officials volunteer their time, service, and expertise. Credit Union members elect the Board of Directors at the annual meeting. The Board of Directors establishes and revises policy, sets dividend and loan rates, and directs the operations of the Credit Union.
Safety and Soundness. The Credit Union is supervised and examined by the National Credit Union Administration (NCUA). Credit Union deposits are insured by the NCUSIF (National Credit Union Share Insurance Fund) up to $100,000. Details of this Federal Insurance Coverage are available in the Credit Union office. The Board of Directors appoints members to the Supervisory Committee. The committee is the audit arm of the Credit Union.
The Credit Union was granted its federal charter on May 9, 1935. The charter number #320 is proof that your Credit Union is one of the oldest credit unions in operation in the United States. The result: You are provided with a safe, convenient place to save and borrow at reasonable rates at a credit union that is owned by you and that exists to benefit you. The FRB Federal Credit Union operates prudently--its mission is not profit oriented but rather to exclusively serve the needs of its member-owners.
For more information see the National Credit Union Administration's "NCUA Share Insurance Estimator".
