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Credit Union Myths
Get the truth about credit unions.
We deliver more value and provide all the solutions you need.
If you're loyal to your bank, we understand you might be hesitant to switch to Philadelphia Federal Credit Union or skeptical about everything we can do for you. Here are some concerns you might have, followed by the truth behind the myth.
Myth: Credit unions don't offer rewards programs.
Explanation: While banks offer rewards programs, there are often fees associated with them.
Truth: PFCU offers Kasasa Cash Back Checking, a free account that pays you for doing banking basics that you probably already do.
Myth: Credit unions don't offer rewards programs.
Explanation: While banks offer rewards programs, there are often fees associated with them.
Truth: PFCU offers Kasasa Cash Back Checking, a free account that pays you for doing banking basics that you probably already do.
Myth: There aren’t enough branch locations or ATMs near me.
Explanation: You can open a PFCU account online and access your account 24/7 through online banking and our mobile app. PFCU belongs to a nationwide network of surcharge-free ATMs, too.
Truth: You can find a convenient branch location here and our debit cards are accepted almost anywhere.
Myth: There aren’t enough branch locations or ATMs near me.
Explanation: You can open a PFCU account online and access your account 24/7 through online banking and our mobile app. PFCU belongs to a nationwide network of surcharge-free ATMs, too.
Truth: You can find a convenient branch location here and our debit cards are accepted almost anywhere.
Myth: Credit unions are difficult to join.
Explanation: Some types of credit unions that serve specific employers may be difficult to join, but PFCU aims to serve a geographic location. If you live, work, worship, study or do business in Philadelphia or Columbia County, PA, you can open an account.
Truth: PFCU accounts offer fewer fees and better rates. Join PFCU now.
Myth: Credit unions are difficult to join.
Explanation: Some types of credit unions that serve specific employers may be difficult to join, but PFCU aims to serve a geographic location. If you live, work, worship, study or do business in Philadelphia or Columbia County, PA, you can open an account.
Truth: PFCU accounts offer fewer fees and better rates. Join PFCU now.
Myth: The FDIC does not insure credit union deposits and credit unions are limited as to the types of accounts they offer.
Explanation: The National Credit Union Administration (NCUA) governs credit unions (like the FDIC governs banks) and offers $250,000 of coverage per customer.
Truth: Review the types of accounts you can open with us.
Myth: The FDIC does not insure credit union deposits and credit unions are limited as to the types of accounts they offer.
Explanation: The National Credit Union Administration (NCUA) governs credit unions (like the FDIC governs banks) and offers $250,000 of coverage per customer.
Truth: Review the types of accounts you can open with us.
Myth: I can’t tell if credit unions are advanced in their technology. I rarely see advertisements for their apps or online banking.
Explanation: You'll find all the tech tools you need to manage your PFCU account anytime, anywhere.
Truth: Check out our mobile banking, digital wallet and eServices.
Myth: I can’t tell if credit unions are advanced in their technology. I rarely see advertisements for their apps or online banking.
Explanation: You'll find all the tech tools you need to manage your PFCU account anytime, anywhere.
Truth: Check out our mobile banking, digital wallet and eServices.
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