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Credit unions are community-based financial institutions, operated on the principle of placing people over profits. Credit unions offer many of the same financial services as banks, such as savings accounts, checking accounts and loans. But because credit unions are owned by their members, they typically provide better rates, lower fees, more flexible terms, and financial guidance you can trust, because it’s given by people who are as invested in the financial well-being of your family and your community as you are.

The Difference Between Credit Unions And Banks

Credit Unions

Not-for-profit institutions
Have interest rates and fees better for members
Your funds in a credit union are insured by the NCUA up to $250,000
Emphasizes local and personal relationships
Most credit unions let you access your money through a nationwide network of ATMs


For-profit institutions
Have interest rates and fees better for the bank
Your funds in a bank are insured by the FDIC up to $250,000
Less emphasis on personal interactions
Some large national banks have branches and ATMs across the country

Why Banking Matters

Keep your money safe

Cash can get lost or stolen. Credit unions are a safe place to keep your money – which you can still access on-the-go through ATMs, debit cards or checks. With a credit union, you also have secure and affordable options for sending money to friends and family, nearby or far away.

Build credit

Credit is the ability to buy now and pay later – important for large purchases, such as a car. Credit unions can help you build and improve your credit. Without first establishing a relationship with a financial institution, like a credit union, access to affordable financing options is limited.

Manage your finances

Credit unions can help you stay on top of bills, start saving for the future and make your money work for you. Online and mobile banking let you manage your money on the go.

Plan for the future

Using a credit union can help you build a strong foundation for you and your family, set goals, build savings and plan for the future.

The building blocks of financial health

Whether cashing a paycheck, paying bills, saving for college or renting a home, banking is a part of everyday life. Accessing financial services is essential for many things you might want – or need – to do in life, such as buying a car, getting a credit card, covering a medical expense and even finding a job.

How to join a credit union

You can join a credit union if you or any of your immediate family members live, work or worship in an area served by the credit union. More information on membership requirements and how to apply, check out membership details details for each credit union.

Break the predatory debt cycle

Predatory lenders, check-cashers and other “alternative” financial services take advantage of people who may need money quickly, face credit challenges or do not have access to financial services, charging sky-high interest rates and fees that are, by design, extremely difficult to repay. Credit unions can help you get the money and services you need, without the cycle of debt.

Make your money work for you

Unlike an envelope of cash under the mattress, keeping your money in a savings account lets you build your savings, while earning interest on the money you already have. Some credit unions even offer “club accounts” that can help you earn interest and save for a special occasion, like the holidays or a vacation.

Building Credit To Build A Better Life

Build Yours

By joining a credit union, you’ll have access to a wide range of safe, affordable loans and credit. By repaying on time, you’ll help build your credit score, which creates opportunities to save money in the short and long-term. The higher your credit score, the more you’ll save when you decide to take out a mortgage or to borrow for a car, an education, or a personal loan.

Learn More About Our Credit Unions.

Find Your Credit Union

1st Bergen Federal Credit Union


93-95 Main Street
Hackensack, NJ 07601

PH (201) 968-0202
Request More Information


M-W 9am – 4pm
TH-F 9am – 6pm
SAT 9am – 1pm

Products & Services
  • Online Banking
  • Direct Deposits
  • Debit Cards
  • Club Accounts
  • Mobile Banking