Common Questions

So what's a credit union?
Princeton Federal Credit Union, like all credit unions, is a unique, not-for-profit, member-owned financial institution. That means it belongs to the people who use it, and operates only for the benefit of its members. We return excess earnings to our members by providing friendly and personal service, lower interest rates for loans, higher yields on savings and investment accounts, and by adding new financial products and services.

Member vs. Customer?
Credit Union customers are referred to as members because not everyone is eligible to open an account at a specific Credit Union. As a student of Princeton University you are eligible for membership at Princeton Federal Credit Union.

Why should I join a credit union?
Consumer surveys consistently rate credit unions higher than banks in loan rates and customer service. At Princeton Federal Credit Union we follow the creed, "People Helping People." That means you're not a faceless customer - you have a relationship with the Credit Union, and it's a long-term relationship, at that. We'll go the extra mile to help you with your needs, whether you need a small service like an available notary, or a larger service, like help getting a loan.

Why must I open a savings account first?
When you join the Credit Union your member-owner status is represented by the shares you save at Princeton Federal Credit Union in a savings account. To become a member just deposit $5.00 and maintain that balance to remain a member in good standing.

If I join, how long am I a member?
This answer is simple. You are a member for as long as you want. It doesn't matter where you end up living or working, you're a member for life.

What about rates?
All credit unions routinely offer very good returns on investments and lower interest rates on loans than banks and other financial institutions.

Are the rates consistently good?
In bad years, banks tend to either raise loan interest rates or close shop altogether. Princeton Federal Credit Union relies on financial reserves to absorb unexpected losses, so members are protected when times get tough.

Are credit unions safe?
Yes. Credit unions are among the most secure financial institutions around. Every credit union is insured by the National Credit Union Share Insurance Fund (NCUSIF), which is administered by a federal government agency. No member of a federally insured credit union has ever lost even a penny of any insured savings.

Join the Credit Union today! Call 609-945-6200 or 800-456-5038 (out of the area) or stop by ouron-campus branch located in the New South Building – 7th floor.