A Great NO Cost Benefit For You and Your Employees or Organization Members!

Welcome to the IBM Metro SG Advantage Information Center. We've designed these pages to help you learn more about credit union membership, and to show you how easy it is to add IBM Metro Employees Federal Credit Union to your benefits package.

Companies and organizations within a 50 mile radius of the credit union office are eligible to join our financial family. Better yet, there are no fees to become a Select Group, and no cost to become a credit union member.

Don't miss this unique opportunity! Take a look at what we have to offer. If you have any questions, call us at (718) 361-1002 ‚ or use our Online Response Form to get started now!

• What Is A Credit Union?
• Who Is IBM Metro Employees Federal Credit Union?
• What Are The Benefits To Your Company?
• "Members Only" Products And Services
• Join Today
• How To Enroll Your Group
• Select Employee Group Agreement
• Contact Us

Credit unions are a member-owned, not-for-profit, and democratically operated financial institution. They offer a wide variety of personal financial services exclusively to their members. Members of a credit union have a common bond such as a place of employment, community, occupation, church or other association.

Credit unions date back to the mid-19th century in Europe, when a group of local farmers pooled their resources to purchase supplies at lower cost during economic hard times, and saved excess funds during good times to be borrowed against during the next period of poor times. In the United States, the first credit union was formed in New Hampshire in 1909, and is still in existence today.

Credit Unions Are Member Owned

Unlike other types of financial institutions that must generate a profit for stockholders, credit unions are member-owned, and excess earnings are returned to the members in the form of:

• Above market dividend rates paid on savings and certificate accounts.
• Competitive interest rates charged on loans, and
• The addition of new products, services, and delivery systems.

The products and services offered, and the methods used to conduct business have changed over the years to take advantage of today's technology and to meet the changing needs of our members. However, one thing that has not changed is the basic philosophy envisioned by the movement's founders that of "people helping people."

Member deposits in a Federal Credit Union are insured by the NCUSIF (National Credit Union Share Insurance Fund), which is regulated by the NCUA (National Credit Union Administration), an agency of the U.S. Federal Government. More than 77.5 million people belong to 11,016 credit unions in the United States.

Originally established in 1970 by a group of IBM employees in the Metropolitan New York area. Over the years we have continued to grow and now serve over 8,700 members from a variety of Select Groups.

As a not-for-profit financial cooperative, our accomplishments are measured by more than our bottom line. The level of member satisfaction we achieve is critical to our continued success. While satisfying the needs of thousands of members, we never lose site of the commitment we have to ALL members to protect the financial integrity of THEIR financial institution.

As a Federally insured credit union, we are audited and examined on an annual basis by the National Credit Union Administration a government Agency. We continue to improve both our financial strength and our operational structure. The above combine to make IBM Metro Employees FCU a financial institution that our members can be proud of.

We constantly strive to improve the quality of the products and services that we offer. This is accomplished with the leadership of a volunteer, member-elected Board of Directors and volunteer committees, while the daily operations are administered by financial management professionals and staff. We have not lost sight of our mission "to provide the best possible service while maintaining financial stability, safety, and soundness." At IBM Metro the credit union creed of "people helping people" is more then a slogan, it's our daily philosophy.

We look forward to welcoming your company and employees to our growing family.

Dedicated to providing our members with outstanding financial services - at the lowest possible cost.

One of the greatest challenges to an employer today is to attract and retain qualified employees. By offering credit union membership as an additional employee benefit, you enhance your value as an employer to every employee and potential employee.

As members of the IBM Metro Employees Federal Credit Union, your employees and management have the opportunity to reach their personal financial goals through the resources of our financially sound, Federally insured organization. This peace of mind is good for productivity and morale. In addition, immediate family and/or household members of your employees and management, are also eligible to join. Potential company benefits include increased employee loyalty and reduced turnover. This is the most popular employee benefits after Casual Days and a 401(K), and the best part is there is no cost to you.

The dividends we pay on savings and certificates and the interest we charge for loans are normally more attractive than those offered by other local financial institutions. As a result, your employees will realize increased purchasing power from their salaries.

Our modern services, including remote account management, such as our audio response and internet account access may reduce employee time away from the office to handle financial business. Additionally, our direct deposit service may assist in reducing the cost of payroll processing and help employees more effectively manage their personal finances.

Studies show lower absenteeism and higher productively when employees feel their employer cares about their welfare, especially since our unique relationship with sponsor companies allows us to better understand the financial needs of your employees. These benefits are readily available to your company when you become an employer-sponsor of the IBM Metro Employees FCU.

Credit union members have access to a variety of top quality financial products and services, all designed with you in mind.

Savings & Investment Accounts

• Share Savings Accounts
• Holiday Club Account
• Share Certificates
• IRA Certificate Account
• Individual Retirement Accounts (IRAs)
  • Traditional IRA
    
  • Roth IRA
    
  • Education IRA
• Federally Insured By The NCUA

Money Managers/Convenience Services

• Interest Bearing HIFI
• CheckingNo Monthly Fee BCA Checking
• MetroCash ATM Card
• ARTIE 24-Hour Phone Teller
• Direct Deposit / Payroll Deduction
• Bill Payer Service
• MasterCard Credit Card
• Bank By Mail, Fax, Phone
• Wire Transfers

Loans For All Reasons

• New & Used Vehicles
• Boat, RV, Motorcycle, Trucks
• Stock Secured Loans & Lines of Credit
• Home Equity Loans & Lines of Credit
• First & Second Mortgages
• Signature (Unsecured) Loans & Lines of Credit
• Home Improvement Loans
• Debt Consolidation Loans
• Overdraft Protection

Additional Products/Services

• Insurance Programs
  • Group Term Life
    
  • Accidental Death & Dismemberment
    
  • Homeowner's And Auto
    
  • Credit Life And Disability
• NADA Book Values
• AON Mechanical Breakdown Insurance
• AutoVantage Car-Buying Service
• Free Notary Services
• Free Budget Counseling
• NY Shared Branch Network
• Traveler and Gift Checks
• Discount Amusement/Theme Park Tickets
• Certified Checks
• Money Orders
• Wire Transfers/In-Out
  

We know from past experience that the benefits for your company and employees will exceed those outlined in this booklet. So, we encourage you to call us at (718) 361-1002 if you have any additional questions.

When you are ready to expand your benefits program, simply prepare a letter, like the sample, on your company letterhead.

Along with your letter of intent, we ask that you sign a Partnership Agreement with the IBM Metro Employees FCU such that both parties move ahead with mutually-agreed upon objectives, allowing the credit union relationship to grow and prosper throughout your organization.

Upon approval by our Board of Directors and the National Credit Union Administration, which takes approximately six to eight weeks, we will contact you to arrange a mutually convenient time for us to meet with your employees. Then, we will present to them the benefits of membership in the IBM Metro Employees FCU which you have wisely chosen to offer them. We will also train your payroll personnel about the process associated with direct deposit.

The sample letter noted is for illustration purposes and should be sufficient for select employee groups (SGs) with less than 200 employees.

For select employee groups with 200 or more employees, the National Credit Union Administration (NCUA) will first consider whether your organization can form its own credit union. If your company feels that forming your own credit union is not feasible, then contact us regarding the additional information that should be included in your letter of intent to the IBM Metro Employees FCU. Please contact Steven Goldberger, (718) 361-1002.

How To Enroll Your Group
If you want your employees and/or members to become eligible for membership in IBM Metro Employees Federal Credit Union (IBM Metro), follow this simple procedure.

Send a letter on your Group's letterhead, to the Credit Union (see sample letter included).

Get the Sample Letter

Please include the following information in the letter.

1. The approximate distance from the IBM Metro Office.
   
   
2. Number of employees or members in your group, who are eligible for membership.
   
   
3. A clear statement that your group is not currently affiliated with any other credit union.

Groups with more than 200 employees or members must explain why the group cannot form its own credit union; the wording generally accepted for group approval is in the sample letter provided. In the case of associations, churches, et. al., a copy of the group's charter (articles of incorporation) and bylaws should accompany your request.