Credit Unions in Reading, PA

Local credit unions in Reading, PA, such as Bellco Federal Credit Union, are exactly where you should consider conducting your financial business to take advantage of low rates on loans and credit cards, higher rates on savings, and fewer fees for checking accounts and other convenient services.

Originally known as the Bell Telephone Credit Union, Bellco FCU, a member-owned, not-for-profit federal credit union, opened its doors in 1938 and continues to provide unique financial products and services to individuals and small businesses in Berks County.

Frequently Asked Questions About Credit Unions

We’ve provided answers to some of the common questions about credit unions to help you better understand the benefits of membership.

How do credit unions differ from banks?

Credit unions differ from banks in many ways, but one of the main differences is that credit unions are not in business to make a profit. Banks exist to earn money for their stockholders. Credit unions were created to enable people to pool their financial resources to help themselves and other members of their community.

Bellco FCU provides a level of service that is generally not available at other banks and financial institutions. Our earnings from interest on loans and credit cards are returned to members in the form of low interest rates on loans, high-yield investment accounts, and low- or no-fee easy access account services.

When you join a credit union like Bellco FCU, you become a partial owner and have an equal voice in how your credit union is run, no matter how much money you have on deposit.

Is membership limited to a select group of people?  

Credit unions typically serve groups of people who have something in common. For example, employers often sponsor their own credit unions, such as the Firefighters First Credit Union and the Pentagon Federal Credit Union. There are rules about who can join, but you may be surprised to learn that becoming a member is easier than you think!

Bellco FCU offers membership to people who live, work, worship, or attend school in Berks County, PA, including their immediate family members, such as a spouse, children, siblings and parents. 

By opening a primary Member Savings account with as little as $5 and following a few simple steps, you can become a member. Once you join, you may remain a member forever, even if you change jobs, retire, or move away from the Berks County area. 

Are deposits insured the same way they are at banks?

Banks are insured by the Federal Deposit Insurance Corporation (FDIC). Most credit union deposits are insured in a similar fashion by the federal National Credit Union Administration (NCUA).  Both organizations provide insurance coverage on deposits up to $250,000 per customer. Bellco FCU, along with about 98% of the credit unions in the U.S., are insured by NCUA.

Credit unions like Bellco FCU in Reading, PA, go above and beyond to make sure we're meeting your needs by offering comprehensive financial services from checking and savings to investments and financial planning. Become a member today!