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About Us

About Us

Since 1974, Northeastern Operating Engineers Federal Credit Union (NOEFCU) has been dedicated to serving the financial needs of local IUOE members, as well as other participating associations. We are proud to have the unique opportunity to improve the financial lives of the hard-working union members and their families. 

NOEFCU is a not-for-profit financial cooperative providing a full-range of banking services; including savings, checking, auto loans, credit cards, personal loans, mortgages and more. When you join the credit union, you can remain a member for life; no matter where life may take you.  Your immediate family members are also eligible to join the credit union and open accounts. 

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About Credit Unions

A credit union offers similar services to a bank, such as savings, checking and loans. However, there are a key difference that provide exceptional benefits to credit union members:

Cooperative 

As a financial cooperative, the credit union is owned by the members, not shareholders. By maintaining a Primary Savings Account with a minimum of $100, each member owns a "share" in the cooperative and is entitled to one vote. A volunteer Board of Directors (elected by the membership) oversees credit union operations.

Not-for-Profit

Instead of focusing on increasing income and stockholder payouts, credit unions focus on the financial well-being of members. Earnings from credit union operations are returned to the members through lower fees, better rates and enhancements in service and technology.
 

Membership Restrictions

Credit unions have membership restrictions designed to serve members who share a common bond; such as location, social interest, employment or religion. These membership requirements help the credit union foster a sense of community among members and offer uniquely tailored services for their field of membership.

Your Savings are Safe and Secure

Your deposits at NOEFCU are insured up to at least $250,000 by the National Credit Union Administration (NCUA), an agency of the U.S. Federal Government. Individual Retirement Accounts are separately insured for up to $250,000.