Credit 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 $100,000.