Non profit: our revenues in excess are returned to our members in the form of low interest rates, low fees, and free services whenever and wherever possible. Last year, our members saved an average of $2,067 (cradle Benefits of Membership Study).
Service: Whether you come to our offices, we call by phones, or us visit by internet, services to our partners are always our first priority.
National Credit Union Administration says deposits up to $250,000, similar to FDIC ensure bank deposits.
Each Credit Union serves a field of membership, because it is based on a particular community, place of employment or affiliation to a group; SchoolsFirst FCU serves employees and immediate family of schools in the 10 counties of Southern California.
In the United States, savings and credit cooperatives are organizations non-profit acting to serve their members rather than to maximize corporate profits. As banks, savings and credit cooperatives accept deposits and give loans. But, as institutions owned by their partners, saving and credit cooperatives are concentrated on providing a safe place to save and lend at reasonable rates. Unlike banks, savings and credit cooperatives returned surplus revenues to their members in the form of dividends.
School first online my accounts FCU Mobile Banking With the SchoolsFirst Mobile app you can:
- Check balances and account history
- Deposit checks using your smartphone’s camera2
- Transfer funds
- Pay bills
- Find the nearest branch or ATM
Access all of the convenience of Mobile Banking from your tablet by visiting m.schoolsfirstfcu.org
This is a web site where you can find some additional details about the differences between banks and credit unions:
Favorable rates and customer service
Fees and loan rates are usually lower, interest rates that are returned are usually higher than those of banks and other institutions for profit. Savings and credit cooperatives are controlled democratically by its members, allowing you to account holders have the same power of decision on how the cooperative is given no matter what they have invested in the same.
Access to the membership
Each institution determines who will serve. To join a savings and credit cooperative, potential partners should form part of an area of membership, which is usually based on employment, the community or in an organization or association membership. Savings and credit cooperatives serve partners of modest resources. Low-income credit unions provide financial services at reasonable rates in areas in which banks offer insufficient services.
NCUA deposit insurance coverage
Safe Federal credit unions are regulated by the national administration of credit unions and backed by full trust and credit of the Government of the United States. The Dodd-Frank reform law of Wall Street and protection 2010 consumer increased deposit insurance coverage on all accounts of savings and credit cooperatives with federal insurance up to $250,000. [banner_abajo]