Due to the $3K cap, it's not a great deal. The $3K will earn you about $60 over what you would earn in a 5% account during the year.
Field of membership includes those who live, work or worship in Passaic or Bergen Counties or the underserved areas of Essex or Union Counties or the City of Newark. See site for details. Membership requires a minimum initial deposit of $50 into the share savings account.
Branches are located in the New Jersey cities of Totowa, Newark and Paterson. The credit union is federally insured by the NCUA (Charter # 1015). It has $172.6 million in assets and 30,380 members.