A credit union is a unique financial institution that is subject to the same regulations as a bank. Formed by a group of people with a common link, like their profession or place of work, a credit union is run by its members. The initial capital to start the credit union comes from the founding members who pool their own money as savings and make low-cost loans to each other.
The Loyola Credit Union started in just this way. The sole purpose of the credit union is to meet the needs of its members.
Your credit union account is insured for up to $250,000 through the National Credit Union Administration Insurance Fund, an agency of the federal government.
Membership is open to all employees, students of Loyola University Chicago, members of Loyola University Medical Center, and all immediate family. A share account may be opened with a minimum balance of $25. Employees may authorize payroll deductions for direct deposit into their Credit Union accounts. Membership forms are located at www.luefcu.org or at LSC or WTC campuses in the Human Resource offices or by contacting the Credit Union at 708.216.4957.
- Direct payroll deposit
- Savings account
- Free checking
- Debit card
- Special Savings Clubs—Vacation, Christmas
- New/used car
- Refinance your car loan
- Tickets at local movie theaters
- Great America tickets
- Visa credit card and free transfers