What’s a Credit Union?A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit. Back to Top
Who owns a credit union? Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors. Back to Top
How did credit unions start?The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary's Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member. Back to Top/font>
What is the purpose of a credit union?The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.Back to Top
Are savings deposits insured?Yes. All savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government. Back to Top
Who can join a credit union?A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group. Back to Top
We have made some adjustments to our FlexTeller security features. At the time of the next login, all members will be required to change their passwords to meet the new minimum requirements.
All new passwords must:
We will also prompt you to enter a word that will be embedded in an obscured graphical image to ensure that we are communicating with our members. Whenever this graphical word is presented, you will also be prompted for a confirmation word as proof of your identity.
If you have any questions or concerns please feel free to contact us at (409) 729-7938.
Monday - Friday
9:00 am to 5:00 pm
Port Arthur Community Federal Credit Union3100 Central Mall DrivePort Arthur, TX 77642Phone Numbers:(409)729-7938(409) 729-7948 FAX
10.50 % APR
7.90 % APr
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Your savings federally insured to at least $250,000 through the National Credit Union Administration (a U.S. Government Agency) and backed by the full faith and credit of the United States Government.