Welcome to
the Energy People Federal Credit Union Website. Your Energy
People Federal Credit Union, founded as a not-for-profit financial
cooperative by employees of PS&G in 1960, is today proudly serving
active and retired employees of PSE&G, their families, and relatives
with a wide array of financial services.
The Credit
Union deposit accounts include: share savings accounts with no fees
and tiered interest rates; certificates of deposit with terms from
Energy People
Federal Credit Union offers a number of lending products including
home equity loans, new and used vehicle loans, personal loans, and
more. What’s more, if you
are an active employee of PSE&G, you have access to convenient
payroll deduction for both loan payments and savings.
We are proud
of our extended phone service hours, which we initiated long before
other local banking institutions did so, allow our members to
contact us until
The board of Directors would like to take this opportunity to update
you on the growing strength of your Credit Union during the ongoing
financial turmoil affecting the largest financial institutions in
this nation.
Unlike the doom-and-gloom news reports that the banking industry is
collapsing, your Credit Union is proud to announce that we have seen
increases in membership, deposits, and loans over the last
three months. Overall, our members have continued to handle
their financial affairs responsibly.
If you are looking for a place to invest your money, consider the
benefits of your Credit Union. Your money is loaned out to
your fellow members whenever possible, or invested in FDIC insured
certificates. It is not invested in high-risk financial
instruments as you will find elsewhere. The National Credit
Union Administration (NCUA) followed the FDIC in raising deposit
insurance to $250,000 on eligible accounts.
Our capital reserves in excess of 20% of deposits have allowed us to
retain our normal lending standards, while other financial
institutions have been forced to tighten them dramatically, or raise
interest rates. We are unique in not having seen any
appreciable increase in loan losses, as is common across the nation.
We continue to lend money to qualified borrowers at reasonable
rates. Business has been brisk in all types of loans including
second mortgages, vehicles, and personal loans.
Our strength over 50 years has always been our investment in you,
our members, and you have proven to be the best investment year
after year. Please contact our dedicated staff if you have any
questions about your investment or loan requirements.
Sincerely,
The Board of Directors
Energy People Federal Credit Union
