About Niagara County's Federal Credit Union.
Unlike other financial institutions, your credit union is a not-for-profit financial cooperative whose main purpose is to satisfy the financial needs of it's members. It is designed to provide members with a convenient and systematic method to promote savings, and an economical way of borrowing for worthwhile purposes. Unlike other financial institutions that earn high profits for a limited number of stockholders, credit unions are member owned and operated.
The operations of the credit union are geared to benefit the members through attractive dividend rates, low loan rates, and low-cost or free services. Often, the credit union services are far better values than those offered by other financial institutions. Since we have no stockholders to reward, all efforts are made to provide better service to the membership.
As an owner, you have the right to vote in the Board and Committee elections at the annual meeting. All Board and Committee members are volunteers who establish policies and carry out the operations of the credit union according to the Federal Credit Union Act. All members are eligible to serve as volunteers.
Niagara County's Credit Union was started in 1967 by a group of county employees interested in creating a place where they and their fellow employees could save and borrow money safely, confidently and at a fair rate of interest. The credit union offered these associates an alternative to the high fees and low service rendered at the local banks. The Credit Union was located in the courthouse for years, then the civil defense building on Hawley Street until 1989 when the current building on West Avenue was built. A second office was opened in Niagara Falls during the third quarter of 1997.
Membership started with associates of Niagara County. Over the years we added many SEG groups (Select Employer Groups) to our charter. This afforded individuals working for these companies, and their family members, another choice for their financial services.
In January 2003 NCUA granted a Community Charter to Niagara County's Credit Union. That means anyone who lives, works, worships or goes to school in Niagara County is eligible to become a member. NCCU currently has over $41 million in assets and services over 9,600 members.