Credit Union Profile
Some people say we talk funny. It’s almost as if credit unions have a language of their own. There’s a good reason for all these different terms. It’s because credit unions are different.
We are not in business to generate a profit for a limited number of stockholders as profit driven financial institutions like banks are. They must make money to pay their stockholders in proportion to their holdings.
We are in business to provide the best possible cooperative financial services for our total membership. All members benefit from our financial success, while bank income bypasses customers to pay its relatively small group of stockholders.
You’ll never hear a credit union employee refer to you as a “customer”, you are a “member”, one of the owners of this credit union. Once you’ve joined, you “belong” to the credit union. You are the reason we are in business, and that makes a big difference!
Portsmouth Schools Federal Credit Union was founded in 1942 to serve the teachers employed by the schools system of Portsmouth who did not qualify for membership at larger institutions. Originally called Portsmouth Teachers Federal Credit Union, it served educators and their family members from the city of Portsmouth.
With a charter change in 2001, the credit union is now able to serve any individual in any occupational category employed in the public schools system of Portsmouth. From humble beginnings it now serves 1100 members, helping them to transact their financial business in a safe and secure manner. Along with an increase in membership, the credit union offers their members share/draft accounts, a variety of loans, share certificates and club accounts. As we continue to grow, the credit union is looking forward to offering more services for their members in the near future.
Provide a welcoming environment facilitating unique opportunities through professional, friendly and trustworthy service that promotes financial growth.