What Is A Credit Union?

A credit union is a cooperative financial institution. It is owned and controlled by the people who use its services, who are known as its members - not customers. These members belong to distinct groups that share something in common, such as where they work, live, go to church or school. All credit unions are not-for-profit. They exist to provide a safe, convenient place for members to save money and to receive loans and other services at affordable rates.

Credit unions are closely regulated. They are overseen by the National Credit Union Administration, an agency of the federal government, and insured by the National Credit Union Share Insurance Fund. This fund protects the deposits of credit union members at more than 11,000 federal and state-chartered credit unions nationwide. Deposits are insured up to $100,000 (and some IRA accounts are insured up to $250,000).

What Makes Credit Unions Different From Other Financial Institutions?

What makes credit unions different from other financial institutions? While they all accept deposits and make loans, banks and savings & loans are in business to make a profit. This type of financial institutions are owned by groups of stockholders whose interests include earning a healthy return on their investments. Credit unions are focused on making sound financial decisions to benefit only their members, not outside investors.

As a not-for-profit financial institution, member satisfaction is the bottom line. Credit Unions are dedicated to providing members with high quality, competitive financial products and services, delivered in a professional and courteous manner.

Credit Unions return excess earnings to members in the following forms:

• Competitive dividend rates paid on savings, checking and investment accounts.

• Competitive interest rates on loans.

• The addition of valuable new products and services.

The Advantages Of HHFCU Membership

Hamilton Horizons offers a wide variety of convenient, money saving products and services that are designed to meet all your financial needs. These products include high-yield savings and investment accounts, low-interest loans, and numerous services that let you conduct your financial business when it's convenient for you. Click here for more information about these products.

Anyone who lives, works, worships or attends school in Hamilton Township, New Jersey (Mercer County) is eligible to join Hamilton Horizons. Membership is free - and for life. Joining Hamilton Horizons Federal Credit Union gives you access to a long list of products and services. To join, simply fill out a membership application and return to Hamilton Horizons with a minimum initial deposit of $5.00. In accordance with federal regulations, you will also need to provide some form of identification, such as a social security or passport number.

Your initial minimum deposit represents your "share" of ownership. It is not a fee; it goes directly into your newly established Savings Account.

Once you have opened this account, you are free to utilize all the benefits our membership has to offer. As long as you maintain a balance of at least $5.00 in this account, you'll remain a credit union member with full access to all our products and services - even if you move, change jobs or retire. Plus after you become a member, your family members automatically become eligible to join.

For additional membership applications for your family members, call or visit the credit union. Click here to download a membership application online. To obtain a copy of our Member Services brochure, please click here.

For more information about becoming a member of Hamilton Horizons, call us at (609) 631-4300 or toll-free at (800) 449-3221.