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About UsMembershipIf you are an employee of the Newark Public Schools, you are eligible for membership. A $50 minimum balance is required at all times. This entitles you to all of our services and a vote at the annual membership meeting. Husbands, wives, children, brothers, sisters, parents, grandparents or grandchildren are now allowed to open their own accounts! Family membership also includes stepparents, stepchildren, stepsiblings and adoptive relationships. Once a member always a member. Just because you retired or stopped working for the Newark Public Schools does not mean that you must close your account. All of our services are still available to you! Mission StatementTo provide a broad range of the best possible financial services that are responsive to member needs, while safeguarding members' assets, maintaining financial security, and affording the membership a role in the credit union's continuing development. HistoryCredit Unions are financial organizations made up of people with a common bond, usually a place of employment, a social group, a church or club. The credit union concept was originated in Europe in the mid-1800's and introduced in the United States in the early part of the 20th century. Today, there are over 11,000 credit unions in the United States with nearly 62 million members. Newark Board of Education Employees Credit Union was chartered in 1935 and was originally known as the Newark Teacher's Credit Union. In 1983, our name was changed indicating an embracement of all employees of the Newark Board of Education. We are chartered by the State of New Jersey and federally insured by NCUA (National Credit Union Administration) a U.S. government agency, for the amount of $250,000. Locations
195 Norman Road
2 Cedar Street |
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