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Your Credit Union

The FRB Federal Credit Union operates prudently—its mission is not profit oriented, but rather to exclusively serve the needs of its member-owners.

Chartered in 1935, the FRB FCU is a full-service financial institution. FRB FCU is a not-for-profit financial cooperative association owned by its members. As a member, you become an integral part of the larger credit union family dedicated to the principles of democratic cooperative self empowerment that govern credit unions throughout the United States and around the world. FRB FCU members help each other achieve financial objectives by taking advantage of the wide-range of credit union products and services.

Your credit union is a not-for-profit financial cooperative

We exist to provide a broad range of financial services to our members. Credit Union members share a common bond of philosophy and employment.  The ‘field of membership’ defines and limits eligibility.

A member's share

Each member must purchase and maintain one membership share. The par value of each share is $25.00.

Once a member always a member

Membership in the FRB Federal Credit Union is lifelong unless you choose to sever it. However, eligibility to rejoin the Credit Union ceases when you leave the field of membership.

Your credit union is democratically controlled

As a member-owner, you have one vote regardless of the amount deposited in the Credit Union. Members elect the Board of Directors at the annual meeting. The Board of Directors controls the operation of the Credit Union.

The Board of Directors establishes and revises policy, sets dividend and loan rates, and directs the operations of the Credit Union.

CU Officials volunteer their time, service, and expertise. The board of directors appoints a supervisory committee to serve as the audit arm of the Credit Union.

Your money is safe

Credit Union offers a safe place for you to save your money. Deposits are insured up to $250,000 per individual depositor, per insured credit union, for each account ownership category. Use the online Share Insurance Estimator to calculate your share insurance coverage. Information about NCUA insurance coverage is available online via the Share Insurance Tool Kit Leaving the FRB FCU Credit Unionand the information is available in the Credit Union office.

Your credit union is sound

The Credit Union is supervised and examined by the National Credit Union Administration (NCUA). Financial reports are posted in the credit union main office monthly.

The National Credit Union Administration Leaving the FRB FCU Credit Union is the independent federal agency that regulates  charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 90 million account holders in all federal credit unions and the majority of state-chartered credit unions.

For 75 years, we have been committed to providing employees of the Federal Reserve and their families with diversified, high quality, competitively priced financial products and services.

The FRB FCU staff would be delighted to discuss our many services with you.

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