Skip to content

Credit Unions vs. Banks

How is a credit union different from a bank? A bank’s earnings are returned to a very small group of stockholders, but credit unions are member owned. This means that the earnings of a credit union, after expenses and reserves, are returned to all members in the form of higher savings rates and lower loan rates. Also, you generally pay less for other services and pay fewer fees.

Who Can Join TFCU?

Timberland Federal Credit Union has an “underserved community charter,” which means that anyone who lives, works, worships or attends school in Clearfield, Jefferson, or Centre County can become a member.

In addition, employees of designated businesses or members of certain associational groups are eligible to join TFCU. We will continue to serve these Select Employee Groups and any other businesses in the area that are interested in providing the benefits of a credit union membership to their employees. Contact us for a list of current businesses and groups included in our field of membership.

And finally, immediate family members of current members can join. This includes a spouse, child, sibling, parent, grandparent, grandchild, stepparent, stepchild, stepsibling, and adoptive relationships. People living in the same household as a current member, defined as “living in the same residence, maintaining a single economic unit”, are also eligible to join.

If you have any questions about eligibility please contact us toll-free at 800-477-3889, email us at [email protected],  or fill out our online contact form.

Member Loyalty Rewards

We like to reward our loyal members! Once you join, you can receive an additional 0.50% rate discount on a loan if you have an active checking account and are enrolled in e-statements, direct deposit, and auto deduct. Your rate discount will be subsequent to the loan disbursement and upon request.

Ready to Join?

Those who are eligible can join online just by opening our share savings account with $5. The whole process takes about seven minutes — get started!

Join TFCU Now