What is a credit union?

Credit unions are not-for-profit financial cooperatives that are owned by their members. Profits are returned to members in the form of better rates and fewer fees. Banks are for-profit corporations, with declared earnings paid only to their stockholders.

What is a Federal Credit Union?

A federal credit union is a cooperative financial institution chartered by the federal government, the National Credit Union Administration (NCUA), and owned by its members.


When you save money at a credit union, you are purchasing shares of the credit union and becoming a part-owner of the organization. This means your vote counts within the organization. Credit Unions are run by a Volunteer Board of Directors elected by the members, so you have a say in the way the organization is run.

How do credit unions work?

Credit unions have a cooperative structure in which members work towards a common goal of financial well-being. When you make a deposit, your funds can help fuel another member’s loan, and vice-versa. 

Who uses credit unions? Do I qualify for a credit union?

Credit unions typically have a “field of membership” or “bond of association”, a common quality that defines one’s eligibility for membership. Examples include your employer, geographical location, or membership in specific organization like a place of worship, labor union, or other orgs. In many credit unions, you are also eligible to join if you are family member of an existing member. If you live, work, worship, study or do business in Philadelphia or Columbia Counties, you can open an account.

Learn More

Benefits of a Joining a Credit Union
Credit Unions vs. Banks
PFCU Rates and Fees
PFCU Membership Benefits
PFCU Locations 


"This year I'm taking the right steps towards reaching my financial goals with the Philadelphia Federal Credit Union."

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Refer your Friends
National Association of Federal Credit Unions 
PFCU is a proud member of the National Association of Federal Credit Unions
National Credit Union Administration 
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Equal Housing Lender 
We do Business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

We provide links to external websites for your convenience. Philadelphia Federal Credit Union does not endorse and is not responsible for their content, links, privacy or securities policies.

Please note that the amount of money contained in your investment accounts are considered non-deposit products and therefore, are not NCUA insured, not credit union guaranteed, may lose value, are not guaranteed by any government agency. Securities, Financial Planning and Insurance products are offered through LPL Financial, and its affiliates, Member FINRA, SIPC. LPL Financial and Philadelphia Federal Credit Union are independent entities.