FCPCU

Welcome to First Carolina People’s Credit Union (FCPCU), we are excited that you are interested in our “family”! FCPCU has been in operation for more than 71 years. We started as a small credit union with only a few members and have grown to over 31 million in assets. And we want to grow even more! WHAT IS A CREDIT UNION YOU ASK? You've probably heard of banks, but you might not be as familiar with credit unions. They are financial institutions too, but are not-for-profit organizations owned by all of its members versus for profit organizations owned by a handful or small group of individuals. Credit unions focus on helping their members save and borrow and receive affordable financial services. Usually, credit unions offer higher savings rates, which is important to young people just starting their savings accounts. Credit unions typically charge lower fees compared to banks and are known for providing personal service and helping members plan for the future. The credit union philosophy is members helping members. Many members of credit unions like knowing their savings will help other members. You can join a credit union based on where you and your family live, work, worship, or the associations you or your family belong to. WHAT IS THE DIFFERENCE BETWEEN A CREDIT UNION AND A BANK? One key difference is that a credit union is a not-for-profit institution. Since credit unions operate as nonprofits, they can offer higher interest rates on deposit accounts, lower rates and fees on credit products. Another important distinction is that credit unions are member-focused institutions. A credit union is a cooperative, which means it is owned and operated by its members, as opposed to being owned by its stockholders like a bank. Your initial membership deposit makes you a part owner of the credit union and gives you a say in the credit union’s decisions. HOW CAN I JOIN FCPCU? To be eligible for membership you need to live, work, worship or attend school in Wayne, Wake or Johnston counties. We also extend our membership to employees of; Maola Milk and Ice Cream, United States Postal Service & Baptist Employees/church members. There is a par membership deposit of $25 to open a share account. You will need 2 forms of ID to open the account (state issued drivers license & social security card is preferred) . You must to have a share account to be eligible for any other accounts at the credit union (share draft, credit products, IRA, Certificate of Deposit, etc.). If you are under 18 you will have to have an adult on your account with you.