First Jersey Credit Union is a federally insured, state chartered, 102 million dollar, 7,606 member, natural person, credit union

Credit union

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 at competitive rates, and providing other financial services to its members...

 operating from two branches in Passaic County, New Jersey

Passaic County, New Jersey

Passaic County is a county located in the U.S. state of New Jersey. As of the 2010 Census, the population was 501,226. Its county seat is Paterson...

.

History

First Jersey was originally chartered in 1929. The credit union converted from a multi-SEG credit union to a community credit union on 18 April 2005.

First Jersey Credit Union Board members received media attention in 2009 over allegations by a former CEO of violations of the travel expense policy.

Membership

Anyone who lives, works, worships or attends school in Passaic county

Passaic County, New Jersey

Passaic County is a county located in the U.S. state of New Jersey. As of the 2010 Census, the population was 501,226. Its county seat is Paterson...

, New Jersey

New Jersey

New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...

 is eligible for membership. Family members of current members are also eligible to join.

Services

First Jersey Credit Union offers these services:

• Checking Accounts and related, including debit card
  Debit card
  A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
  
  s
• Savings Accounts
  Savings account
  Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...
  
  
• Certificates of Deposit
  Certificate of deposit
  A certificate of Deposit is a time deposit, a financial product commonly offered to consumers in the United States by banks, thrift institutions, and credit unions....
  
  
• IRAs
  Individual Retirement Account
  An individual retirement arrangement is the blanket term for a form of retirement plan that provides tax advantages for retirement savings in the United States...
  
  
• Consumer loans of all kinds
  • Lines of credit
    Line of credit
    A line of credit is any credit source extended to a government, business or individual by a bank or other financial institution. A line of credit may take several forms, such as overdraft protection, demand loan, special purpose, export packing credit, term loan, discounting, purchase of...
    
     (LOC)
  • Credit cards
  • Auto loans: Car loans, motorcycle loans, etc.
  • Home equity loans and Home equity lines of credit
    HELOC
    A home equity line of credit is a loan in which the lender agrees to lend a maximum amount within an agreed period , where the collateral is the borrower's equity in his/her house...
    
    
• Mortgages
• Federally Insured Student loans
• Direct Deposit
  Direct deposit
  Direct deposit also known as Direct credit is a banking term used to refer to certain payment systems used to transfer money where a payment is initiated by the payer not the payee, namely:* In Europe, the giro system...
  
  
• 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. The credit union also submits applications to the NJ Credit Union League for a shot at an additional $1,000 scholarship.

External links

• First Jersey Credit Union — official site
• First Jersey Credit Union statistics