The page title might say "About Us." But we're really more about you. When you join PCFCU, you instantly become a part-owner of the credit union. At that point, we're totally dedicated to helping you build financial security. We hope you like how we operate. After all, it's always a good idea to please the boss.
Western Pennsylvania has a history of people looking out for their own. Unions have long protected the safety of our factory workers. Mr. Rogers and other public television pioneers helped educate our kids. Food banks, religious charities and other groups have tended to the needy.
At Parkview Community Federal Credit Union, we'd like to think of ourselves as part of that tradition. We're a financial cooperative focused on serving our members and their communities, and not on turning profits. Our Board of Directors -- drawn from our members -- receive no compensation. Any earnings we generate are used to keep dividend rates high, and loan rates and fees low.
If you're used to dealing with a bank, you'll find that we offer most of the same services. But we're in business for a completely different reason. Banks are mostly interested in your money. We're mostly interested in your satisfaction with our service.
Parkview Community Federal Credit Union is a member-owned and operated financial cooperative. The first account you open at PCFCU is called a Share Account, because your initial deposit of $10 represents your “share” of ownership. As long as you maintain at least this amount in your account, you remain a member of the credit union.
Members elect a Board of Directors that establishes and reviews credit union policy. Members serve on the board on a volunteer basis with no compensation. Each PCFCU member has one vote in electing the board members, regardless of the amount of money he or she has on deposit with the credit union.
As a financial institution, PCFCU shares many characteristics with banks. Like a bank, PCFCU takes the funds deposited by members in various deposit and investment accounts and offers those funds to other members as loans. But as a not-for-profit institution, PCFCU returns excess earnings to its members by increasing dividend rates on deposit accounts, lowering interest rates on loans, and introducing valuable new products and services. A bank, on the other hand, returns profits to a select group of stockholders.
PCFCU is a $48 million financial institution whose mission is to provide quality financial products and services at reasonable prices to the majority of Allegheny and Westmoreland counties in Pennsylvania. Because we're federally chartered, PCFCU is regulated and its activities are monitored by the National Credit Union Administration (NCUA), an agency of the federal government. The NCUA also insures each member’s deposit accounts for up to at least $250,000.