Why Us? Everything we do benefits You!
people helping people. it’s who we are. it’s what we do.
You’re more than a customer
We’re not a big bank. We’re a credit union. That means we work for you in everything we do. Helen Keller once said, “Alone we can do so little; together, we can do so much.” Here at your Credit Union, we strive to provide members with products that help them reach their financial goals. You’re not just a customer, you are a MEMBER and an OWNER.
We’ve been around a long time
Eastern Indiana Federal Credit Union was originally chartered in 1950 as Chrysler Employees Federal Credit Union. The Credit Union was created to provide for the basic financial needs that would not have otherwise been met. For most people, our founding and its circumstances have been long forgotten. Over the years, folks in the community may have come to think of us as simply another financial institution, but we are not. We have had changes in names and membership eligibility but we have never forgot our purpose – to assist members in achieving a brighter financial future.
We love saving you money
We’re not focused on profits or shareholders. We are focused on you-our members! We want to help you save a little more, put your money to best use and secure a brighter financial future for you and your family. Plus membership lasts a lifetime!
We want you to succeed
Life is a journey. Perhaps you’re just graduating, expecting a newborn, or planning for retirement. Or maybe you just hit a major roadblock because of an unexpected bill or emergency. We are dedicated to being here for you when you need us.
We’re committed to our communities
We believe in making a positive impact. That’s why we created programs to help our communities such as our college scholarship program, teacher mini grants, pumpkin decorating to send stockings for soldiers, and community shred days. Our newest program- Warm Hearts, Warm Soles was created to give socks to those in need.
What is a Credit Union?
Credit Unions are not-for-profit 501c1 financial institutions, owned by their members, built on the principle of “people helping people”, and have a different bottom line. The Federal Credit Union Act was signed into law by President Roosevelt on June 26, 1934 to address the financial problems facing rural America. Credit Unions defined are a group of people associated by a common bond, who save together and lend to each other.
Credit Unions are owned by the people they serve (called "members"). Unlike banks, Credit Unions exist solely to serve their members, not to enrich an outside group of stockholders.
Volunteer Board of Directors are elected by and from the Members, and serve without pay. These volunteers represent you, the credit union member.
One Vote per Member. Each member, regardless of how much he or she has on deposit, has an equal vote in director elections.
Credit Unions are not-for-profit. Credit Unions operate to promote the well-being of their members. Operating income is returned to depositors in the form of higher savings rates and lower loan rates and fees.
Credit Unions are financial Cooperatives. The Seven Cooperative Principles for Credit Unions are Voluntary Membership, Democratic Member Control, Members Economic Participation, Autonomy and Independence, Education Training and Information, Cooperation among Cooperatives, and Concern for Community.
Am I eligible to join?
The field of membership of Eastern Indiana Federal Credit Union shall be limited to those having the following common bond:
Persons who live, work, worship, or go to school in, or businesses and other legal entities in the counties of Henry, Hancock, Madison, or Delaware in Indiana;
Spouses of persons who died while within the field of membership of this credit union;
Volunteers in the community;
Members of the immediate family or household;
Employees of this credit union; and Organizations of such persons.
Once a member, always a member!
Our Mission
Eastern Indiana Federal Credit Union is a member owned cooperative that provides a wide range of services to promote the financial well being of its members.
Our Vision
Eastern Indiana Federal Credit Union will assist member-owners in achieving a brighter financial future.
Our Goal
Our primary goal is to be our member’s first choice for financial services.
Our Commitment
Our commitment is to treat all members with respect and dignity, remain fiscally responsible while providing great rates for deposit accounts and loans, help our members save money, contribute to the success of our community, and focus on services for our member’s convenience, all while fulfilling our credit union principle of “People Helping People”.