FAQ

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Questions & Answers

General

After a person joins the credit union, how soon can they use the products and services offered, including loans and credit cards?

Once a person officially joins the credit union, they are welcome to use any of the products or services offered (some restrictions may apply). Eligibility for loans and credit cards is based on income and credit history. Other restrictions may apply.

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When did USX Federal Credit Union begin?

It was founded by several US Steel corporate employees in Pittsburgh, PA in 1938.

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Who can join a credit union?

A credit union exists to serve a specific group of people with a common bond, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work or their membership in a social or economic group. Also, the immediate family of members are eligible to join as well.

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What exactly do you mean by immediate family member?

Immediate family members include your spouse, children, siblings, parents, grandparents and grandchildren.

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What is a credit union?

A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.

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Who owns a credit union?

Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner.

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Are savings deposits insured?

Yes. All savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government.

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If I change companies or retire can I still be a member of USX FCU?

Yes. Once you are a member of USX FCU, you are always a member.

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Why do you call your patrons members instead of customers?

USX FCU is a cooperative organization that is owned and controlled by its members. Each member holds a share and is entitled to one vote. Our Board of Directors are members who are elected and serve as non-paid volunteers.

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Do I need to do my business at the branch where I open my account?

You can conduct transactions at any one of our nine locations. Business can also be conducted online through NetBranch or at our 97,000 surcharge free ATMs.

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I own a business or work in the human resources department of a company and would like to offer USX FCU’s products and services as a benefit to our employees. What do I need to do?

USX FCU membership is a free benefit employers can offer to their employees. If you are interested in offering credit union services to your employees, we would be happy to help you get started. Please contact:

Tim Wojtaszek
1293 Freedom Road, P.O. Box 1728
Cranberry Twp., PA 16066
tcwojtaszek@usxfcu.org
1-888-219-3159 ext. 4802

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