Choice One Federal Credit Union is a financial institution that has been providing its services to the residents of Northeastern Pennsylvania since 1941. Over the years, the credit union has grown to become one of the most reputable financial institutions in the area, offering a wide range of financial products and services to its members. In this article, we will provide an in-depth review of Choice One Federal Credit Union, including its history, products and services, fees, and other relevant information.
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History of Choice One Federal Credit Union
Choice One Federal Credit Union was founded in 1941 as the Wilkes-Barre VA Employees Federal Credit Union. The credit union’s initial membership was limited to employees of the Veterans Administration Hospital in Wilkes-Barre. In 1984, the credit union changed its name to Choice One Federal Credit Union and expanded its membership to include anyone who lives, works, worships, or attends school in Luzerne, Lackawanna, or Wyoming County.
Since its inception, Choice One Federal Credit Union has remained committed to its founding principles of providing affordable financial services to its members while promoting thrift and financial education. Today, the credit union has over 10,000 members and assets of over $100 million.
Products and Services Offered by Choice One Federal Credit Union
Choice One Federal Credit Union offers a wide range of financial products and services to its members, including checking accounts, savings accounts, loans, credit cards, and online banking.
Checking Accounts
The credit union offers two types of checking accounts: Choice Checking and Kasasa Cash Back Checking. Choice Checking is a basic checking account that requires no minimum balance and has no monthly maintenance fee. Kasasa Cash Back Checking, on the other hand, offers cashback rewards on debit card purchases and has no monthly maintenance fee.
Savings Accounts
Choice One Federal Credit Union offers several savings accounts, including regular savings, holiday club, and vacation club accounts. Regular savings accounts require a minimum balance of $5 and offer competitive interest rates. Holiday club accounts and vacation club accounts are designed to help members save for specific purposes and offer higher interest rates than regular savings accounts.
Loans
The credit union offers a wide range of loans, including auto loans, personal loans, home equity loans, and mortgages. The credit union’s loan rates are competitive, and members can apply for loans online or in-person.
Credit Cards
Choice One Federal Credit Union offers two types of credit cards: Visa Platinum and Visa Platinum Rewards. Visa Platinum offers a low-interest rate and no annual fees, while Visa Platinum Rewards offers rewards points for every dollar spent.
Online Banking
Members of Choice One Federal Credit Union can access their accounts online through the credit union’s website or mobile app. Online banking allows members to check their account balances, transfer funds, pay bills, and more.
Fees and Charges
Choice One Federal Credit Union has a fee schedule that outlines the fees and charges associated with its products and services. Some of the fees and charges members may incur include monthly maintenance fees, overdraft fees, and ATM fees. However, the credit union’s fees are generally lower than those of traditional banks.
Pros and Cons of Choosing Choice One Federal Credit Union
Pros
There are several advantages to choosing Choice One Federal Credit Union as your financial institution. These include:
- Competitive interest rates on savings and loans
- A wide range of financial products and services to meet your needs
- No or low fees on most products and services
- Online banking and mobile app for convenient account access
- Commitment to promoting thrift and financial education
Cons
While there are many benefits to choosing Choice One Federal Credit Union, there are also some potential drawbacks to consider. These include:
- Limited physical branch locations
- Limited ATM network
- Membership eligibility restrictions
What Do People Say About Choice One Federal Credit Union?
The response of people who know Choice One Federal Credit Union has been overwhelmingly positive. Members of the credit union praise its excellent customer service, competitive rates, and convenient online banking services. Many members also appreciate the credit union’s commitment to financial education and community involvement.
Choice One Federal Credit Union Nutrition Facts
| Product/Service | Nutrition Facts |
|---|---|
| Checking Accounts | No minimum balance required, no monthly maintenance fees |
| Savings Accounts | Regular savings accounts require a minimum balance of $5, competitive interest rates |
| Loans | Competitive interest rates, multiple loan options |
| Credit Cards | Low-interest rates, no annual fees, rewards points available |
| Online Banking | Convenient account access, bill payment, and transfer services available |
FAQs About Choice One Federal Credit Union
Who is eligible to become a member of Choice One Federal Credit Union?
Anyone who lives, works, worships, or attends school in Luzerne, Lackawanna, or Wyoming County is eligible to become a member of Choice One Federal Credit Union.
What types of loans does Choice One Federal Credit Union offer?
The credit union offers a wide range of loans, including auto loans, personal loans, home equity loans, and mortgages.
Does Choice One Federal Credit Union offer mobile banking?
Yes, members of the credit union can access their accounts through the credit union’s mobile app.
What are the fees associated with Choice One Federal Credit Union’s products and services?
Choice One Federal Credit Union has a fee schedule that outlines the fees and charges associated with its products and services. Some of the fees and charges members may incur include monthly maintenance fees, overdraft fees, and ATM fees. However, the credit union’s fees are generally lower than those of traditional banks.
Does Choice One Federal Credit Union offer financial education resources?
Yes, the credit union is committed to promoting financial education and offers a variety of resources to help members improve their financial literacy.
