OUR CREDIT UNION HISTORY: Battle Creek Area Community Federal Credit Union was chartered in 1935 and was originally known as VETERANS Facility (Camp Custer) Federal Credit Union. The Credit Union has undergone many changes since 1935, but one thing has remained the same. You, the member. You are, and always have been, an important part of the family that makes up the membership of our Credit Union.
WHAT IS A CREDIT UNION: Credit Unions are not-for-profit financial cooperatives serving members who share something in common - employment, association membership, or residence in a particular geographic area. More than 70 million U.S. consumers are member-owners of, and receive all or part of their financial services from credit unions.
PHILOSOPHY & STRUCTURE: Credit Unions are democratically owned and controlled institutions based on "people helping people" principles. Credit union board of directors are elected by members; each member has an equal vote, regardless of how much he or she has on deposit. Only members may serve as directors, and directors serve without compensation. Credit Unions have no outside stockholders, so after reserves are set aside, earnings are returned to members in the form of dividends on savings, competitive loan rates and lower cost services.
OUR MISSION STATEMENT: Battle Creek Area Community Federal Credit Union is a not-for-profit, member owned, financial institution. Our goal is to provide friendly, competent, prompt, and competitive financial services to our members, while strengthening the credit union's long-term financial stability.
INSURANCE FUND: Since 1984, credit unions have fully funded their federal deposit insurance program on a pay-as-you-go basis. Each year, credit unions deposit sufficient funds to ensure that the fund's equity ratio is maintained at or above 1.2%. While the NCUSIF is backed by the full faith and credit of the U.S. Government, the structure of the insurance fund ensures that only if all of the capital in the credit union movement were to be exhausted would taxpayer funds be spent on credit unions. Like other deposit insurance funds, NCUSIF protects member deposits to $250,000.
REGULATION & SUPERVISION: Credit Unions are chartered under either federal or state law. Federally chartered credit unions are regulated by the National Credit Union Association (NCUA), an independent agency of the U.S. Government. NCUA's three board members are nominated by the President and confirmed by the Senate. State chartered credit unions are regulated by their state credit union department. NCUA administers the federal insurance fund, NCUSIF, which covers all federal credit unions, and most state chartered credit unions. No taxpayer money is used for regulating and overseeing federal credit unions, as all activities of NCUA and the NCUSIF are funded by credit unions.
Mortgage loan services provided by Member First Mortgage, LLC (NMLS ID# 149532)