First Jersey Credit Union is a federally insured, state chartered, 102 million dollar, 7,606 member, natural person, credit union operating from two branches in Passaic County, New Jersey. A credit union is a Cooperative Financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift providing credit Passaic County is a County located in the US state of New Jersey.
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History
First Jersey was originally chartered in 1929. The credit union converted from a multi-SEG credit union to a community credit union on 4/18/2005. [1]
Membership
Anyone who lives, works, worships or attends school in Passaic county, New Jersey is eligible for membership. Passaic County is a County located in the US state of New Jersey. New Jersey ( is a state in the Mid-Atlantic and Northeastern regions of the United States. Family members of current members are also eligible to join.
Services
First Jersey Credit Union offers these services:
- Checking Accounts and related, including debit cards
- Savings Accounts
- Certificates of Deposit
- IRAs
- Consumer loans of all kinds
- Lines of credit (LOC)
- Credit cards
- Auto loans: Car loans, motorcycle loans, etc. A transactional account ( North America: checking account or chequing account, United Kingdom and some other countries current account A debit card (also known as a bank card) is a plastic card which provides an alternative payment method to Cash when making purchases Savings accounts are accounts maintained by retail Financial institutions that pay Interest but can not be used directly as Money (by for example A certificate of deposit or CD is a Time deposit, a financial product commonly offered to consumers by Banks thrift institutions, and An Individual Retirement Account (or IRA) is a Retirement plan account that provides some Tax advantages for Retirement savings in the United Consumer lending (also called retail lending refers to making a wide range of secured and unsecured loans to consumers for consumable items such as a A line of credit is any credit facility extended to a business by a bank or financial institution A credit card is part of a system of Payments named after the small Plastic card issued to users of the system
- Home equity loans and Home equity lines of credit
- Mortgages
- Federally Insured Student loans
- Direct Deposit
- Home banking - initially offered in 2007
College Scholarships
Three High School seniors that are members of First Jersey Credit Union are awarded $1,000 scholarships to the college of their choice. A home equity loan (sometimes abbreviated HEL) is a type of Loan in which the borrower uses the equity in their home as collateral. A home equity line of credit (often called HELOC and pronounced HEE-lock is a Loan in which the lender agrees to lend a maximum amount within an agreed period (called A mortgage is the pledging of a property to a Lender as a security for a Mortgage loan. Student loans are loans offered to students to assist in payment of the costs of professional Education. A giro is a method of Payment. It is the opposite of a Cheque, which is given to a payee who deposits it in a Bank. Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual Bank, The credit union also submits applications to the NJ Credit Union League for a shot at an additional $1,000 scholarship.
References
External links
- First Jersey Credit Union — official site
- First Jersey Credit Union statistics
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