Choosing Your Financial Institution
As you contemplate moving beyond your piggy bank, the two types of financial institutions that you’re most likely to deal with are banks and credit unions. They offer essentially the same products and services, including savings and checking accounts, credit cards, auto loans, mortgages, and investment products, but their values and motivations are very different.
Member Owned
Credit unions differ from their banking counterparts because the credit union accountholders are the OWNERS of the institution. As soon as you make your initial deposit of $25 into a savings account with us, you own a share of the organization. Your account is wholly owned by you and acts like a traditional banking account, but with added benefits.
The reason we feel so strongly about providing benefits to our members is due to our ownership structure. While banks are owned by a person, group of people, or stockholders who hope to make a profit, a credit union is a not-for-profit institution owned by its members. If you have money in an account at JHFCU, you are a part-owner of the organization. All revenue made benefits you in the form of better rates, lower fees, or investments into the infrastructure to provide better service in the future. JHFCU is overseen by a volunteer Board of Directors, all of which are credit union accountholders. This Board works with management to oversee the procedures and products, ensuring that we are offering services and treating members with their best interests at heart. Decisions are made to benefit the membership as a whole—whether it’s a new benefit for members, an investment in infrastructure, or a change to ensure the financial health of the organization so we can continue to serve members long into the future.
JHFCU will always offer very competitive rates and fees in order to provide value to our members. Occasionally rates or fees offered elsewhere may be more attractive, but overall, your JHFCU membership could save or earn you thousands of dollars.
The Hopkins Connection
JHFCU was formed in 1971 by a small group of Johns Hopkins University employees, and for over 40 years has retained the primary focus of serving Hopkins and its various related entities. We are a benefit to the Hopkins employees, and as such, we are familiar with the other benefit programs, the payroll system, and more. We are able to better understand our members and thus serve you better.
Always a Member
Once you become a credit union member, you are a member for life, even if you leave the employing institution you became eligible through or move to another location. Click here for a list of eligible groups in our field of membership.
Federally Insured
JHFCU is insured by the National Credit Union Administration (NCUA - a U.S. government agency). You can visit their website (PDF) for details on insured amounts.
Want to know more? JHFCU offers its members a wide range of benefits and services, including but not limited to:
- Different types of Savings accounts
- Checking accounts with no monthly fee or minimum balance requirement
- Money Market, Custodial, and Holiday Club accounts
- Car, Mortgage, and Personal Loans
- Credit Cards
- ATM and Visa Debit cards
- Surcharge-free access
- E-banking (online & mobile)
- Payroll deduction and direct deposit options
- And much more!
Find out how easy it is to start taking advantage of a lifetime of financial benefits.
How to Join