History of Newark Firemen Federal Credit Union
NFFCU was chartered in 1940 to service the financial needs of the members and their families, of the Fire Department of the City of Newark. Over the past 72 years the credit union has grown to a $20 million financial organization with 5 employees serving over 2,000 members. The first expansion SEG (Select Employment Group), the Department of Fire for the Township of Irvington was added in 2006.
As a federal credit union, NFFCU is governed by the NCUA Act and regulated directly by NCUA. Accounts on deposit in the credit union are insured up to $250,000 by the NCUSIF. Basic operations of this financial cooperative include deposit accounts such as shares, share drafts, and share certificates. The main business of NFFCU is consumer and real estate loans. Excess deposits not lent out to the membership are used for short-term investments and fixed assets.
NFFCU is headquartered at Newark in a credit union-built-and-owned building. The credit union has over time made a significant investment in technology that will help it remain competitive in the future. Every employee of the credit union has a computerized workstation with access to the Internet, in addition to their own data files. The credit union’s primary operating strategy is to maintain a reputation and market presence as a member-oriented financial services organization where members can obtain a range of banking products and services while experiencing a high level of personal attention. Outstanding member service has been a fundamental tenet of the credit union’s philosophy since its inception and has been a key element in its increasing growth,
IT IS OUR MISSION TO:
Be the “Go To” financial institution for our membership by providing exceptional member service, quality financial products, and uncompromising dedication and commitment to our members.
Our Core Value
The credit union’s mission will be accomplished by keeping in mind its core values. These are the values upon which daily behavior and decision making must be based. These values are not subject to change and include the following:
This credit union is all about quality member service. We exist solely to take care of the financial needs of our members. The needs of our members will be the first consideration of everything we do.