Credit Union History
An alternative to a bank that provides lower loan rates, higher savings rates and less fees.
What is a credit union?
The amount required for membership at NJFCU for regular savings accounts.
What is $50?
No monthly service fee with $100 average minimum daily balance. No interest paid but free services, such as MasterCard Debit Card, Online Banking, Bill Pay, Mobile Banking, E-Statements, PopMoney
What is Basic Checking account?
Car buying tool allows members to research vehicles, make comparisons, obtain discounts with select local dealers and provides leads for the lending department.
What is AutoLink?
Members can to access accounts 24/7. To transfer funds between allowable accounts, request withdrawals, verify account balances, check loan status.
What is TAP (Telephone Account Processing)?
Bergen, Essex, Hudson, Middlesex, Morris, Passaic, Union counties.
What is the field of membership for North Jersey FCU?
Member can open this type of account with a minimum of $1,000 and will earn higher interest based on the balance. The funds are available to the member and the rate fluctuates.
What is a Money Market account?
Earn up to 2% on Debit Card purchases (up to $6), by having 18+ debit card transactions per month, online banking, e-statements, one deposit per month.
What is Cash Back Checking?
Voluntary program to protect member when getting a car loan if the car is totaled or stolen and the insurance remits an amount less than what the member owes the credit union.
What is GAP (Guaranteed Asset Protection)?
Members can purchase up to $1,500 daily and make withdrawals up to $500 from the available balance of their checking account. The member may increase these limits for a specific period of time by contacting the credit union
What is the MasterCard Debit Card?
1936
What is the year North Jersey FCU was established?
Members between 14yrs and 26yrs old can open a savings account with only a $5.00 minimum amount.
What is Organic Savings?
After 45 days, new members are eligible to opt in to have checks, ACH, ATM and debit card transactions paid if there aren't enough funds in the account up to $300 for a fee. The fee is tiered based on the transaction amount and can range from $15 to $35.
What is Courtesy Pay?
Member that wants to establish or re-establish credit can apply for minimum limit of $200 up to maximum of $5,000 and pay an annual fee of $33.
What is the Liberty Credit Card?
Members can their NJFCU account by using 30,000 free ATMs and over 5,000 locations for free across the country and internationally. Member needs to opt in for the service.
What is Shared Branching?
Accounts are federally insured up to $250,000 per account title, in addition, North Jersey FCU accounts are insured double that amount.
What is NCUA and Excess Share Insurance?
Members wants to deposit money into an account for a specific period of time to earn higher interest, but can't touch the funds.
What is a Share Certificate?
Member can be approved for $750 up to $7,500 to cover transactions if there is not enough in the checking account to pay the items. If member is approved for this, there are not allowed to have Courtesy Pay.
What is the Ready Cash Overdraft Line of Credit?
Member can apply for credit limit of $2,500 up to $15,000 and earn CU rewards for every dollar spent. Points can be redeemed for travel, merchandise, or gift cards. Rewards are valid for 4 years.
What is the Platinum Credit Card?
Members are required to have this in order to get mobile banking, bill pay, e-statements and Popmoney.
What is Online Banking?
Credit Union members can vote at the annual meeting, run for office and own a share of the credit union. Rates for savings are higher, loan rates are lower and fees are less.
Why are benefits of credit union membership?
Member may be charged from 90 days loss of dividends up to 364 days if closing a CD prior to maturity and amount based on term of CD.
What is a penalty?
Member can decide to opt to have money transferred savings accounts if there is not sufficient funds to cover the transactions on the checking account. Member can determine the order of the accounts; however, each time the funds are transferred the member is charged a fee of $3. After the 6th transfer in a month, the member is charged an additional $2 for Reg. D.
What is Overdraft Protection?
What is a Personal Loan?
Members don't have to come into the branch to make a deposit. They can send image of the checks for deposit into their account for free. The maximum amount of a check deposit is $5,000.
What is Mobile Deposit?