Frequently Asked Questions
- Who can join the Electrical Workers 558 Federal Credit Union?
- What are your office hours?
- How are my savings insured?
- Why should I belong to a credit union?
- Is there a joining fee?
- What types of savings accounts does the credit union offer?
Who can join the Electrical Workers 558 Federal Credit Union?
Any one who is a member of the International Brotherhood of Electrical Workers Local Union 558 or who has an immediate family member that already belongs to the credit union is eligible to join.
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What are your office hours?
We're open Monday - Friday 8:00 till 5:00
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How are my savings insured?
Individual accounts at the credit union are insured to at least $100,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency. Not one penny of insured savings has ever been lost by a member of a federally insured credit union. This insurance is funded entirely by credit unions at no cost to the tax payer.
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Why should I belong to a credit union?
At a credit union you're a member while at other financial institutions you are just another customer. The credit union belongs to it's members, while most major financial institutions are owned by stock holders. The Electrical Workers 558 Federal Credit Union is operated for one purpose: To help it's members help one another financially!
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Is there a joining fee?
There is no charge to join the Electrical Workers 558 Federal Credit Union. You only need to maintain a minimum balance of $25 in your savings account.
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What types of savings account does the credit union offer?
In addition to the regular savings accounts we offer: Christmas Clubs, IRA's (Both traditional and Roth), Share Certificates, and Vacation Fund accounts.
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