Financial Resources Federal Credit Union
Financial Resources Federal Credit Union is headquartered in Branchburg and is the 3rd largest credit union in the state of New Jersey. It is also the 670th largest credit union in the nation. It was established in 1950 and as of March of 2025, it had grown to 95 employees and 29,239 members at 10 locations. Financial Resources Federal Credit Union has a B 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
13 Month CD Special - Opening Issues
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.
Hellllloooo?? Anyone There?? Yoo Hoo!
Now I see a Health rating of C - I would not have applied if I knew that. They asked for all kinds of personal & financial info to apply, then nothing. It's been weeks. Not even an acknowledgement. I called and was told to wait longer--really? Well, if my identity is stolen, Financial Resources CU is the first place I'll hunt down. Whatever their procedures are, they are ineffective and inefficient. Luckily I had not given them any money yet.
A Low Cost Financial Organization
Financial Resources Federal Credit Union is a low cost financial organization.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 6665 |
| Year Chartered | 1950 |
| Employees | 95 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.25% |
| Return on Equity - YTD | 3.12% |
| Annual Interest Income | $8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $608.8MM$657MM |
| Loans | Q1 2025vs Q1 2024 | $487MM$493.2MM |
| Deposits | Q1 2025vs Q1 2024 | $544.8MM$549.6MM |
| Equity Capital | Q1 2025vs Q1 2024 | $48.9MM$45.1MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $7.2MM$8.6MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $7.8MM$10.3MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |