Federal Reserve Boston Employees Federal Credit Union
600 Atlantic Avenue Boston, MA 02210
617-973-3760
WWW.FRBEFCU.ORG
Membership
A Credit Union is an organization which is best described as "unique" in the financial world. A Credit Union is a financial cooperative, made up of people like you who work, save and borrow together; a financial institution for people with common financial needs.
This non-profit orientation is what enables the Credit Union to return its profits to the membership.
Members who save at the Credit Union provide the money for those who wish to borrow... and the interest derived from those loans is used to pay higher dividends on the members savings accounts.
Benefits of Membership
We strive to offer our members the advantage of:
High Dividends - Because you are an owner of the credit union, you share in the profits. This means we frequently pay you higher than average returns.
Lower Loan Rates - Our rates for loans are lower than other lenders in most cases. Always check with us first!
Convenience - You can save and pay loans automatically by payroll deduction or ACH/Direct Deposit. In addition, we have a number of other services to accommodate your financial needs such as Checking Accounts, ATMs, Travelers Cheques, Money Orders, VISA Cards, plus many more.
Elegibility
Any Federal Reserve Bank of Boston employee, retired employee or member of their immediate family* are eligible for membership.
Once you become a member, you will always be amember. You are not required to close your account if you move, divorce, retire, or are transferred to another location. Membership and it's privileges are lifetime.
*Immediate family is defined as the spouse, child, sibling, parent, grandparent, or grandchild of the active member, who is or was an employee of the Federal Reserve Bank of Boston. This definition specifically includes stepparents, stepchildren, stepsiblings, and adoptive relationships. The definition also includes domestic partners, who are two unmarried adults, of the same or opposite sex, who have chosen to share and live their lives together in a spouse-like relationship.
How to Join
To become a member of the credit union, you need to complete a membership application and maintain a nominal amount in your "regular share" savings account. You are then eligible for all the benefits of membership in the Credit Union.
