Financial Resources Federal Credit Union

Overview / Commentary
520 US Highway 22 Ste 1
Bridgewater, NJ 08807

Financial Resources Federal Credit Union is headquartered in Bridgewater and is the 3rd largest credit union in the state of New Jersey. It is also the 649th largest credit union in the nation. It was established in 1950 and as of September of 2023, it had grown to 90 employees and 28,637 members at 8 locations. Financial Resources Federal Credit Union has a C health rating.

Field of Membership Restrictions

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. Family members of an existing Financial Resources member also qualify for membership.
See current membership details

Related Posts

Financial Resources Federal Credit Union Adds 13-Month CD Special - 1/22/2024

Financial Resources Federal Credit Union (easy membership) has added a competitive 13-month CD Special. $500 minimum opening deposit. Also as an IRA CD Special.

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Reviews (6)

You Got To Be Kidding.....Best Credit Union Ever

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I have been a Financial Resources Federal Credit Union Member for over 30 years. They have stood by me in good and bad times. The customer service people are great AND the auto loan representatives helped guide me thru negotiating on a new car and I saved a couple thousand dollars. Their share draft and savings accounts are easy to manage and give you access to all your accounts at any time of the day. Although the credit union is in New Jersey, I am in California and have never had any problems.

Great Place To Trust

Posted by: |

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.

13 Month CD Special - Opening Issues

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ACH transfers initiated from FRFCU are limited to $100,000 so if you plan to fund a CD in excess of this amount best that you do so from your External Bank account.
A Regular Savings account requires $10 minimum opening which can be funded via credit/debit card for new customers. Funding a 13 Month CD Special (5.64% APY as of today 1-31-2024) is cumbersome. Even when logged into your online account their system limits you to $10,000 maximum funding (but their system doesn't tell you this) so if you wish to open a CD in excess of $10,000 you first have to transfer the 10k AND you have to call them and they transfer the rest while you are on the phone but the transfer to fund the CD doesn't show up immediately- taking up to 2 hours for their system to update. Their online banking system requires you to delete "$" AND the comma (,) when keying in the dollar amount you wish to fund. For instance $10,000.00 must be entered as 10000.00 or it will simply reset with you pondering what to do. I gave up trying to figure out that there was a limit and how I was "expected" to key in the number. Pretty amateur online portal. Their staff are cordial and helpful which I appreciate but their digital platform is rudimentary, cumbersome and a pain. In this day and age these are not just inconveniences- they are totally unacceptable.

A Low Cost Financial Organization

Financial Resources Federal Credit Union is a low cost financial organization.

This Credit Union Is A SCAM!

I applied for the Ultra Purple Savings Account to take advantage of their high interest rate - BIG MISTAKE!
I'm sure they are running a scam to bait new customers with high interest rate, they never completed my application, yet they held my ACH transfer of $1000 for over a month!
I applied online on Sept 24th and received no word from them. When I called, the rep told me my application was declined b/c my verification was inconclusive whatever that means. I was told to apply again, and a week later I was approved. I proceeded to transfer $1000 via their ACH, which was pulled from my bank the very next day. I was expecting that amount credited to my savings shortly thereafter like any normal bank would. The next 3 weeks were a nightmare of chasing their reps trying to get a straight answer.
They confirm my application was approved, yet never assigned me an account number or online access... crazy! Week after week they come up with new excuses to give me the run-around. The first 2 weeks they said my ACH transfer never arrived even though my bank confirmed it was transferred successfully. Then they said the amount was received but they have not received my signature card which I sent shortly after I was approved! Now it's going on the 3rd week and my account still not opened. I spoke with the manager and she said there's nothing they can do but wait, all the while holding on to my deposit.
I'm getting nervous at this point and complain to their bank manager. Lo and behold they said my signature card was received awhile ago but it was not updated in their system! The manager apologized and assured me my account will be opened very shortly by the end of the day.
That was on a Friday and nothing, by Monday morning I call for a status update and their call center is horrible, a rep said nothing had been done even though I fulfilled every requirement they requested. Today is following Friday and my account is in limbo with no resolution in sight. Every single day they keep repeating my account will surely be activated by the end of the day -- NOPE, nothing.
Now I can be patient, but 35 days trying to open a lousy bank account when I can walk into any modern bank and have an account open in 30 minutes is beyond ridiculous!
I still getting the run-around and it seems they just want to keep my money and not open an account for me even though I was approved?!
I'm complaining to my bank to reverse the ACH and get my money back.
Don't ever do business with this credit union, very unprofessional, unscrupulous, lying cheats. I'm surprised there aren't more complaints, their banking practices are criminal and they should be investigated! Stay away, don't waste your time, energy and nerves on this poor excuse for a bank. Zero stars, total sham.

Worst Credit Union EVER

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.


Health Grade Components

NCUA #6665
Year Chartered1950
Primary Regulator
Profit Margin
Return on Assets - YTD0.49%
Return on Equity - YTD7.08%
Annual Interest Income$22.6MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$613.5MM$580.7MM
LoansQ3 2023vs Q3 2022$466.3MM$412.7MM
DepositsQ3 2023vs Q3 2022$489.6MM$527.3MM
Equity CapitalQ3 2023vs Q3 2022$42.4MM$42.6MM
Loan Loss AllowanceQ3 2023vs Q3 2022$8.5MM$7.3MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$8.1MM$3.9MM
Real Estate OwnedQ3 2023vs Q3 2022$0$0

Rates for Financial Resources Federal Credit Union are currently being reviewed.


Financial Resources Federal Credit Union Locations
Branch Office263 Route 22Green Brook, NJ 08812
Branch Office67 Church StFlemington, NJ 08822
Branch Office1 New Amwell RdHillsborough, NJ 08844
Branch Office780 Easton AveSomerset, NJ 08873
Branch Office1 Johnson and Johnson PlzNew Brunswick, NJ 08901
Branch Office520 US Highway 22 Ste 1Bridgewater, NJ 08807
Branch Office525 Washington Blvd Suite IJersey City, NJ 07310
Branch Office10-12 South Broad StElizabeth, NJ 07202

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