What is a Credit Union?

A credit union is a unique, not-for-profit, member-owned financial institution chartered by the federal government and regulated by the National Credit Union Administration (NCUA). Member deposits are federally insured to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF).

When you open a savings account at a credit union, you are not simply a credit union customer. You are a member, an actual owner of the Credit Union. Unlike banks that are driven to provide a profit to shareholders, a credit union is democratically run and returns excess earnings to its membership of the Credit Union by offering lower interest rates on loans, higher yields on savings and investment accounts, and by continuously enhancing and improving the financial products and services offered.

Princeton Federal Credit Union - History

Princeton Federal Credit Union was originally chartered in 1972, by the faculty and staff of Princeton University. We are financially sound and continue to grow and serve almost 8000 members from over 60 Select Employer Groups (SEGs).

The credit union concept originated in Germany during the mid-1800s. A group of farmers tired of high prices and outrageous interest rates combined their money to buy supplies and establish a common pool to borrow from at lower interest rates. Although credit unions have changed over the years to meet the demands of their members, a long-standing philosophy of "People Helping People" has remained the same.

Who is eligible to Join?

You may open a share/savings account at the Credit Union if you are employed by any of our Select Employer Groups (SEGs).

Once you are a member, anyone within your immediate family is then eligible for credit union membership. An immediate family member includes a spouse, child, parent, brother or sister, grandparent or grandchild. Plus, any individual residing in your household is also eligible for membership at Princeton Federal Credit Union.

If your employer is not listed as one of our Select Employer Groups and you would like your employer to offer you and your co-workers the benefit of credit union membership, kindly fill out the Select Employer Group Referral Form and forward it to:

Judith Gernhart Business Development Specialist 104 Carnegie Center, Suite 103 Princeton, NJ 08540 jgernhart@princetonfcu.org 609-945-6248 609-945-6299 (fax)

Joining is easy!

A deposit of $5 and a signed Membership and Services Application Card makes you eligible for all of the benefits at the Credit Union. If a joint member is being included on the account, a deposit of $10 is required.

The Membership and Services Application Card brochure is available at our Carnegie Center and Frist Campus Center branches. You can print the Membership and Services Application Card online or simply email us at memberservice@princetonfcu.org and we will mail you the Application Card.

You will be required to provide us with two (2) valid forms of Identification (ID). Primary ID may be an unexpired: Drivers License, Passport, Government Issued Document or ID Card or Military ID. Secondary ID may be: Employee ID Card, Social Security Card, Bank Statement, Consumer Credit Report, Financial Statement or Reference from other financial institution. Please note this requirement is in accordance with the USA Patriot Act and applies to each person being listed on an account.

Once a member, always a member!

As an owner of the Credit Union, you are welcome to remain a credit union member for life, regardless of whether you change jobs, move or retire. Experience continued account access and conduct transactions 24/7 online with CU Direct Home Banking and CALL 24, our telephone banking service. Most of all, worldwide ATM access is available along with shared branch locations nationwide.

ATM Access Worldwide Enjoy surcharge-free account access as part of the largest credit union-only ATM network in the country. The CO-OP Network will provide you with over The CO-OP Network will provide you with access to over 800,000 ATMs worldwide through links to NYCE, STAR, Cirrus, Pulse and Plus.

Branch Locations Nationwide The Credit Union is part of the CU Service Centers shared branching network. Credit Unions from all over the country share facilities giving you thousands of convenient locations to perform transactions as if you were in our main office. Whether you are at work, home or your favorite travel destination, the Credit Union is always nearby.

Refer a member

Invite a co-worker, immediate family member or individual in your household to join Princeton Federal Credit Union and each of you will earn $5. When he or she joins the Credit Union, each of you will receive a $5 deposit into your share account.

Print the Refer a Member Coupon Coupon. Remember to fill out your name and phone number first before giving someone else the form. This coupon must be present at time of account opening.

Supervisory Committee

The Supervisory Committee examines the entire operation of the Credit Union. And by law, is charged with conducting and reporting the results of regular certified audits to the Board of Directors and credit union membership.

A periodic examination of the Credit Union is conducted by examiners of the National Credit Union Administration (NCUA).

Supervisory Committee Members Anthony Bleach, Chair Joseph Bielamowicz John Coroniti

Board of Directors

The Board of Directors consists of seven individuals elected by credit union membership at the annual meeting.

Officers and Directors - 2010 Susan Murphy-La Marche, Chair Alison Nelson, Vice-Chair Charles Jones, Treasurer Megan Adams, Director Michael Williams, Director Chad Klaus, Director