Helping Ironworkers From Coast to Coast
What‘s better than helping our 5,301 members build assets and achieve financial stability? The chance to help over 90,300 Ironworkers nationwide achieve their goals!
We received official approval in May from the National Credit Union Association (NCUA) to change our name to Ironworkers USA Federal Credit Union and serve Ironworkers and their families in all 50 states. We are excited to be able to offer the services that our Northwest Ironworkers have valued for almost 60 years, from everyday banking needs to auto loans and mortgages, to fellow Ironworkers all over the country who haven’t always had access to their own credit unions. Visible changes on our website, mobile app and branches will slowly roll out over the next three years but the most important thing – access to Ironworkers nationwide to become members starts immediately. Current members can depend on the same level of personalized customer service, competitive rates and extensive benefits as we grow into a national resource for union Ironworkers.
Actually, as we grow we expect that our rates and services will get better, because as they say “there is strength in numbers”, and as union members know…together we ARE stronger.
Our CEO, Teri Robinson, had a goal for expanding to serve members nationwide when she took the helm of Ironworkers USA FCU in 2010. The road to regulatory approval wasn’t an easy one – in fact it was filled with potholes – but Robinson was dedicated and determined to help more Ironworkers achieve the financial stability already enjoyed by members in the Pacific Northwest. Though many thought it wasn’t achievable, lots of hard work and record growth over the past eight years turned our ailing credit union into a robust institution with over $31 million in assets today. It’s this growth that makes it possible for us to help Ironworkers from coast to coast. The only difference will be instead of in branch banking, our newest members will use our mobile app, phone-based and online banking services.
Though we’re growing and expanding, our commitment to offering personalized service to make your lives easier will always be our priority – near or far, we’re still a one-stop-shop for your financial needs!
What Sets a Credit Union Apart From a Bank?
The Answer is Always Members
People often get confused about the differences between a Credit Union and a traditional bank since they seem to perform so many of the same functions. However, the differences between the two are important to note and more importantly, could save you money in the long run!
- Credit Unions are not-for-profit and profits made are returned to members via lower fees, higher savings rates and lower loan rates. Banks are for profit with earnings paid to stockholders.
- Credit Unions are cooperative, meaning they are member-owned with each member has an equal vote to elect board members. Banks are owned by stockholders and their votes are dependent upon the number of shares they own.
- Credit Union boards are made up of volunteers who reflect the membership. Bank board members are paid for their work.
- Credit Unions are often local and organized to serve specialized interests of its members. Banks are open to the general public.
- Credit Unions focus on consumer loans, member savings and services needed by members. Banks focus on commercial accounts, loans and services that generate income.
- Credit Unions focus on members and providing excellent customer service including low rates and fees. Often a small Credit Union branch will have tellers who know their customers on sight. Banks try to make as much profit as possible often through higher rates and fees. In the pursuit of profit, lines at the bank can be long and tellers impersonal.
- Credit Unions are more flexible and understanding when it comes to a challenged financial or employment history due to their affiliations with unions and trade groups. Banks have corporate policies that are unbending and denials of a loan or credit card to an individual means little among thousands of applications.
- Credit Unions cooperate with other Credit Unions, often sharing resources including the CO-OP ATM Network to make services more convenient for members. Banks compete with one another and have no incentive to cooperate.
- Credit Union deposits are federally insured up to $250,000 by the National Credit Union Administration. Banks deposits are insured up to $250,000 by the Federal Deposit Insurance Corporation.
- Credit Unions have close ties to the community they serve and strive to give back to those communities. Banks are owned by national or multinational interests with no ties to small communities.
Still have a loan or an account with a bank? We can help you move them over to your credit union, to ensure you get all the perks of being in the Ironworkers CU brotherhood. Stop by a branch or call us at 1-877-769-4766.
Don’t Be Fooled
While it might seem like your problems could be solved when you get a blank check in the mail, don’t be fooled. Those checks promising cash or an easy way to consolidate credit card bills or pay off loans are attractive on the surface but what lurks below in the fine print can be ridiculously high interest rates, fees on top of fees, balloon payments and tricky terms. One of the ways these offers confuse people is by showing monthly payments that look reasonable, but they fail to mention how long it will take to pay off these quick and easy loans. In many cases these lenders are hiding the fact that the interest rates they charge can add up to 50% to the original loan amount by the time they are repaid. In 5 years will you even remember why you borrowed that $5,000? And most importantly, because of sky-high fees and interest rates plus longer terms, you will have to pay almost $9,000 to borrow $5,000! Not such a great deal after all.
Here’s what they aren’t telling you:
- Interest rates as high as 300%
- Unnecessary or excessive fees including high late fee penalties
We’re Here to Help
As a member you save on interest and don’t get gouged by excessive fees with loans from Ironworkers CU. We understand that life happens, and you don’t have to have perfect credit to get a loan at the best possible rate from an organization that will work with you to achieve your goals.
We’ll make the loan process easy for you! Stop by a branch or call us at 1-877-769-4766 or apply online at ironworkersfcu.org/loans. Stop paying fees and high rates. Start saving today!
CO-OP ATMs Have You Covered
Access your money from coast to coast
As a member of a CO-OP Network credit union, your ATM card provides you with surcharge-free access to 30,000+ ATMs nationwide. This includes 9,000 deposit-taking ATMs (throughout the U.S. & Canada). Find a surcharge-free ATM in our mobile app, or text your location, address, intersection or zip code to 692667 (MYCOOP) for the closest CO-OP ATM.
*this is a surcharge free service, but standard text messaging rates apply. You’ll never receive any unsolicited messages by using this service.