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Credit Union: A Great Investment

Being a member of the HMSA Employees' Federal Credit Union is priceless.

Since 1961, members of the HMSA Employees' Federal Credit Union have benefited from its many products and services. Because it is nonprofit, the Credit Union is able to use funds to help members improve their financial health.

And your money is safe when it's in the Credit Union, because all funds are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government - National Credit Union Administration (NCUA), a U.S. Government Agency.

As a member, you "own" the HMSA EFCU. You elect a board of directors in a democratic process. The directors, who are volunteers, establish and approve plans and operational policies. Your Credit Union pays one of the highest dividend rates in the state on savings and charges very low interest rates on loans. While credit unions offer many of the same products and services as other financial institutions, they may use different terminology, such as "share account" instead of "savings account", "share draft account" instead of "checking account", or "dividends" instead of "interest".

You can request for loans to consolidate bills, purchase new or used cars and motorcycles, finance education expenses or a vacation, establish a home equity line of credit, or to finance any other financial need -- all at excellent rates. Loan rates are published here in our quarterly newsletter that's mailed to members and are also available via TellerTalk (a voice-response banking system).

Applying for a loan is easy; simply call or visit the Credit Union to request a loan application. Once you apply, a Credit Union loan officer will then review the application, maintaining confidentiality at all times.

Paying for loans is also convenient, and may be done via direct deposit, automatic transfers from your Credit Union savings or checking account, mail, Teller Talk, Home Banking or in person.

Member Services

As a Credit Union member, you can get these products and services at little or no cost:

  • Share draft (checking) and share (savings) accounts
  • Christmas Club account
  • Debit MasterCard
  • Direct deposit
  • Home Banking (online)
  • TellerTalk
  • Loan protection insurance
  • Money wiring service and money orders
  • American Express Travelers? Cheques
  • Life savings insurance
  • Notary public
  • GAP (Guaranteed Asset Protection) and MRC (mechanical repair coverage) insurance