What Is A Credit Union?
The Latest News From ASE FCU
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What Is A Credit Union?
Credit unions are not-for-profit financial cooperatives that are owned, in party each of their members. The credit union movement was introduced in the United States in the early 1900s. The idea quickly caught on and now there are over 10,000 credit unions in the U.S. serving over 78 million members. US credit unions are state or federally chartered and are established to serve a group of people with a "common bond" - typically a field of occupation, membership in a professional organization or a church group, or residence in a specific community.

Unlike other types of financial institutions that need to generate profits to satisfy stockholders, credit unions return excess earnings to their members in the following forms:

• Competitive dividend rates paid on savings and investment accounts
• Competitive interest rates on loans
• The introduction of valuable new products and services.

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IMPORTANT SAVINGS INFORMATION

Your funds are safe with us.  The ASE Federal Credit Union does not do mortgages.  Therefore, we have no sub-prime mortgages, which are causing some banks to be taken over.  Your savings are insured by the NCUA up to $100,000; $200,000 if you have a joint account.  IRA's are insured up to $250,000.

GAP INSURANCE

We now offer GAP (Guaranteed Asset Protection) insurance with our automobile loans. The premium is substantially less than car dealers offer.

CHRISTMAS CLUB checks will be mailed out the first week of October.  Let this be the year that you start saving for Christmas-open a Christmas Club account now and start saving for next year.

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