Completing the membership application and making
the initial deposit of $10.00 qualifies you to become a member. This
$10.00 initial deposit will open your share (savings) account and is the minimum
balance that must be maintained at all times.
Once the initial deposit of $10.00 is made and maintained, a member is eligible
to apply for any of the other accounts, services, or loans that are available.
Dividends are paid quarterly on the average daily balance of the account.
When you finance your car or truck with the credit union or use our VISA card,
the money you pay in interest goes right back to our members as dividends on
savings. Everyone benefits from our services.
Having joined the Flossmoor Credit Union a member may remain a member for life,
even if employment in the field of membership is terminated. Once a
member, always a member. All of your family members are also eligible to
join our credit union family.
History
The Flossmoor Credit Union was
organized in October of 1973 by several educators from Flossmoor School District
161. It has expanded over the last 37 years to include members from over a
dozen local school districts and professional organizations.
We are chartered by the State of
Illinois through the Department of Financial Institutions. Your deposits
are federally insured under the guidelines of the National Credit Union
Association. The Flossmoor Credit Union is a member of the Illinois Credit
Union League, the Southeast Chapter of Credit Unions, the NCUA and the
Chicagoland Chamber of Commerce.
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Membership in the Flossmoor
Credit Union has many advantages. As a member of the credit union, you are
part of a unique financial cooperative, a group of people who have joined
together to help one another in money matters. By pooling their savings,
our members create a source of funds for loans, which are made available to
"members only" at reasonable rates of interest. The interest from these
leans allows the credit union to pay dividends on members' savings and to pay
for the credit union staff and operations.
Credit Union membership means
more than access to a savings program and low interest loans. It means the
opportunity to say in how the credit union is run. It means you elect, and
can run for election to, the Board of Directors. You can serve on
volunteer committees. You can meet with management to discuss your views
and concerns.
