What’s the Difference?
Like all credit unions, Transportation Federal Credit Union is a not-for-profit financial institution owned and controlled by its members. We provide financial services and solutions to fit your lifestyle – from accounts to help beginner savers to savings tools for retirement, and financing options for everything in between. The real difference is in what we do for our members every day – we help them prepare, go, connect, and arrive successfully at their financial destinations.
Our strong roots can be traced back to March 8, 1939 when twelve employees met to create the Civil and Aeronautics Federal Credit Union. We remain true to our founders’ vision of being a member-owned cooperative for the financial well-being of transportation employees. We continue to serve transportation employees, their family members, and Select Employer Groups. Transportation FCU has over 18,500 members, over $190 million in assets, 3 branches, and over 60 employees.
Once a Member, Always a Member
Our members own the Credit Union and as an owner, each year you elect your Board of Directors. The Board of Directors sets policies, including dividends and interest rates. As a member, you're encouraged to serve on committees and run for elected office. With no outside shareholders, only members benefit from TFCU earnings through full financial services, competitive savings, and economical loans. We survey our competitors on a monthly basis to compare our rates and consistently place at or near the top of the list. As you compare products, we encourage you to be a savvy, well informed consumer.
The National Credit Union Share Insurance Fund is the federal fund created by Congress in 1970 to insure member's deposits in federally insured credit unions. Administered by the National Credit Union Administration (NCUA), provides members with at least $250,000 of insurance at a federally insured credit union. The Share Insurance Fund is backed by the full faith and credit of the United States.
An additional $250,000 of coverage is provided by Excess Share Insurance (ESI), a private corporation.
Separate IRA Insurance
Traditional and Roth IRAs are separately insured up to $250,000 by NCUA and up to an additional $250,000 through ESI, all at no cost to you.
TFCU members receive the highest level of combined federal/private share savings insurance available anywhere.
|NCUSIF||Excess Share Insurance (ESI)||Total Coverage|
|Total Possible Coverage||$500,000||$500,000||$1,000,000|