From The Desk Of Our CEO:

Following the Great Depression of the 1930s and the subsequent bank failures, credit unions were formed to provide safe and affordable financial services to working Americans.  Nearly seventy-five years later, credit unions are still the trusted exception, continuing to provide these services to communities all throughout the state of Pennsylvania and across the United States.

More importantly, ALL Pennsylvania credit unions are backed by the full faith and credit of the U.S. Treasury by the National Credit Union Administration (NCUA).  The National Credit Union Share Insurance Fund (NCUSIF) insures deposits up to at least $250,000.  Detailed information on insurance can be found online at www.ncua.gov in the Share Insurance Toolkit section.

As not-for-profit cooperatives, credit unions exist to serve their members and are well capitalized.  Credit unions continue to lend to qualified borrowers so they can get cars, homes, and/or higher education, even during tough economic times.  Credit unions have always made prudent lending decisions, avoiding subprime and risky loans, thereby protecting its members from loans that are not in their best interest.  

Credit unions are democratically controlled, so the owners and decision makers are the members, otherwise known as depositors – when you’re a member, you’re an owner!  Credit unions are the guardians of our members’ hard-earned money and take that responsibility seriously.  Deposits are locally held and investments are made conservatively.  There are no stockholders or outside investors in credit unions, nor are they listed on Wall Street as credit unions cannot be bought and sold as commodities.

NBCU was created in 1940 to serve our membership groups and the families of our members.  Over many years, the credit union has continued to expand and now serves approximately 5000 members.  Members are afforded a full-range of services from share savings accounts, certificates of deposit, IRAs, share draft checking accounts, credit and debit cards, vehicle loans, home equity loans and lines of credit, and mortgages.  There are two convenient locations for our members within Montgomery County, one in Blue Bell and the other in King of Prussia.

A volunteer Board of Directors, all of whom are members of NBCU, governs the credit union.  In addition, a Supervisory Committee provides oversight to the activities of this credit union.

NBCU is committed to the members we serve and we thank you for being a member of our credit union! 

You can say with confidence: “I don’t worry as much about the economy because I belong to “NBCU”.  

Sincerely,