Financial Resources Federal Credit Union is headquartered in Bridgewater and is the 4th largest credit union in the state of New Jersey. It is also the 620th largest credit union in the nation. It was established in 1950 and as of December of 2019, it had grown to 89 employees and 23,078 members at 13 locations. Financial Resources Federal Credit Union has a B health rating.
Membership in Financial Resources Federal Credit Union is open to anyone through joining the American Consumer Council. Membership is also open to those who live, work, attend school or worship in Flemington Borough or the Greater New Brunswick area in New Jersey and to employees of Franklin Township and over 100 area Select Employer Groups.
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I joined this credit union as a Johnson & Johnson employee at Lifescan when the credit union was known as Ethicon Employees Federal Credit Union (EEFCU). Even though I live in California, the credit union has helped me through good and bad times, and continues as I edge into retirement. I cant think of a better financial institution to trust.
Have been a member for a few years. Customer service is beyond awful. Had a major issue with them a year and a half ago where my account were all frozen by mistake by Chuck Wojo at the credit union. After trying to deal with it for over a week I finally had to send the President of the credit union a message through LinkedIn just to get the issue resolved. Now I have had a secured credit card with the credit union for several years. Never missed any payments, and account has always been in good standing. Apply to obtain an unsecured credit card and due to the credit unions beyond liberal underwriting guidelines I am declined. Granted my FICO score I receive on the denial letter is plenty high enough to qualify for a credit card with other major banks. Call the credit union to receive an explanation on the decline. You would think I was trying to talk to the president of the United States. After over an hour on the phone I finally find out that Janet Hitchcock is who made the decision on my application and I am given her phone number. I call and leave 4 different messages with Janet and to no surprise never received a phone call back. Call back into member services and they cant tell me if Janet is in the office or not, or if she is out on vacation or anything. So on Thursday morning 4/11 I call back into member services again and the rep tells me that she sent an email to 4 different people to give me a call. Surprise!! I still received communication from no one. By mid-day Friday it had been 24 hours with no call from anyone. At that point I called back into customer service and just asked them to close my secured credit card and deposit the funds into my checking account with the credit union. The guy said no problem he would take care of that. I look online and see that the account was closed five minutes later, however, funds were not put back into my checking account. So on 4/12 I closed my secured credit card, and now today is 4/15 and the funds are still not in my checking account. Then today out of the blue who calls me??? Janet. She advises me she only works two days a week - Monday & Tuesday ?!? So instead of your member services team telling me that they just let me continue to call. Janet confirms with me that secured deposits are placed in an interest bearing account, and that was my thought to begin with. So, since Friday 4/12 until so far today 4/15 the credit union is earning interest on money that does not belong to them. So I am going to give them to the end of the day to put the money that does not belong to them back into my checking account before I file a formal complaint with the NCUA & the CFPB. No sense is telling me to "reach out to someone" as I have already done that over 50 times with no success. WORST CREDIT UNION EVER is Financial Resources Federal Credit Union.
|Return on Assets - YTD||0.09%|
|Return on Equity - YTD||0.91%|
|Annual Interest Income||$19.6MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$464.1MM$473.9MM|
|Loans||Q4 2019vs Q4 2018||$394.2MM$408.9MM|
|Deposits||Q4 2019vs Q4 2018||$401.5MM$389.9MM|
|Equity Capital||Q4 2019vs Q4 2018||$44.0MM$43.1MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$3.8MM$3.8MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$7.7MM$8.4MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$691.00K$0|
Rates for Financial Resources Federal Credit Union are currently being reviewed.