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701 W. 18th St.
Antioch, CA 94509
P.O. Box 2566
Antioch, CA 94531
925-757-0237 |
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How does being an ASFCU Financial Partner benefit you?
Being a Financial Partner with ASFCU helps you
earn and save more when you use your Credit Union.
We have established discounts in all of our programs.
The more you take advantage of your partnership
with your Credit Union,
the more you earn in dividends,
and the more you save in fees and loan rates.
Proof that our motto is true...
THE MORE YOU USE YOUR CREDIT UNION,
THE MORE YOU EARN AND SAVE!
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What’s a Credit Union?
A credit union is a co-operative, not-for-profit financial institution organized to promote savings and provide credit to members. It is member-owned and controlled through a Board of Directors elected by the membership. The Board serves on a volunteer basis and establishes policies, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit for stockholders.
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Who owns a credit union?
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate this way. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the Board of Directors.
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How did credit unions start?
The first credit union co-operatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary's Co-operative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.
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What is the purpose of a credit union?
The primary purpose is to encourage members to save money. Another purpose is to offer loans to members. In fact, Credit Unions have traditionally made loans to people of ordinary means. Credit Unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are non-profit co-operatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services. Today, most Credit Unions offer a full range of financial services. To see the services offered by ASFCU, click on Products & Services.
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Are savings deposits insured?
Yes. All savings accounts are insured up to $100,000 per account by the National Credit Union Administration (NCUA), an agency of the federal government.
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Who can join a Credit Union?
A Credit Union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group.
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Who can join ASFCU?
Field of membership is a term that refers to the persons who may join a particular credit union that was created to serve them. The following outlines the field of membership for ASFCU:
The employees, retirees and students of Antioch Unified Schools District, members of their immediate families, and organizations of such persons.
If you have any questions as to whether you qualify to join our Credit Union, please call us at 925-757-0237 or send your inquiry to asfcu@asfcu.org. We will be happy to answer your questions.
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