The Credit Union is Member Owned, and has been in the business of serving it's members and families since 1961. The Credit Union Family Tree is currently serving employees of I.B.E.W. Local #56, Stroehmann Bakery, Advanced Business Systems, Birkmire Trucking Co., Metro Health Center, Advanced Protection Services, A-1 Automotive, AAA West Penn/Erie County, Furman Enterprises, Inc., Signal-Tech, West Erie County Democratic Committe their employees and members of their families in three counties of Pennsylvania and wherever they may relocate.
We encourage family membership. Family shall mean spouse, children, parent, grandparent, grandchildren, sister, and brother.
There is a .25¢ membership fee. A $25.00 minimum balance is required within 6 months in order to maintain membership and to participate in all of the Credit Union privileges. All deposits are insured against loss up to $250,000 by the National Credit Union Administration, a U.S. Government agency.
Dividends are paid quarterly (Jan. 1, Apr. 1, July 1, Oct. 1) on all share accounts with a $25.00 minimum balance. Dividend rates for all shares accounts are determined at the end of each quarter depending on the net income of the Credit Union. Federal law prevents us from guaranteeing a rate for a specific period of time until we provide for reserves for that period. This legal requirement helps to ensure the financial strength of your Credit Union.
Life Savings Insurance is provided at no direct cost to our members. A minimum share balance of $500 is required to be eligible for this insurance. The maximum amount insurable is $4,000. Only funds deposited to a member's Regular Share Account prior to their 55th birthday will be insured at an equal 100% match, provided the funds remain on deposit continuously until death. Funds deposited after the 55th birthday are covered at reduced percentages. Funds deposited after age 70 are not insured. The Life Savings benefit doubles upon accidental death for members under age 65.
For more information about becoming an I.B.E.W. Local #56 Credit Union Member please email or call the office at (814) 455-2270.