Purdue Federal Credit Union is headquartered in West Lafayette and is the 8th largest credit union in the state of Indiana. It is also the 245th largest credit union in the nation. It was established in 1969 and as of September of 2020, it had grown to 242 employees and 84,288 members at 16 locations. Purdue Federal Credit Union has an A health rating.
Membership in Purdue Federal Credit Union is open to the following: (1) employees, students or alumni of Purdue University and their immediate family; (2) those who live, work, worship, attend school or volunteer in Laporte County, Indiana; (3) students and family of LaPorte County Schools and other select area schools; (4) employees of IU Health, ADECCO, Security Systems of Indiana and other area Select Employer Groups. (Membership requirements are listed on the credit union's online application)
See current membership details
I have banked with PEFCU for over 18 years. I switched from my local / small bank and I have found not a huge difference between the two. I have always had my problems resolved. The one time that was extremely helpful to me was when I was a victim of a phishing scam. The bank was very helpful and helped me to avoid any fees or damage to my bank account. I would have been liable for more than $200 in fees. Every time I call for help they are quick to respond and very helpful. I have recommended PEFCU to many friends.
My experience banking with Purdue Federal Credit Union was extremely positive. I opened my PFCU account to start saving extra funds for my youngest child who was set to go to college in two years. Participating in the Savers and Sense club allowed her to get some important financial guidance before taking off on her own. And the best thing is, after she graduated from high school and left for college, she took her PFCU account with her. The online banking works good for her, and I'm able to have access to her account and keep an eye on her funds. Its great for my peace of mind knowing that she has a banking platform that she's comfortable with. Being able to be a joint account holder with her on this account is great for me being able to deposit funds into her account in case she needs them in a hurry. I recommended PFCU to a couple of my girlfriends who have children either in high school who need to learn basic money management skills or whether they are in college or heading to college.
I have had an account with this credit union for many years. My parents set my account up when I was a small child and I have used it faithfully since (I am now in my mid-20s). I have a checking account, savings account, and credit card all with them. I have had an overall very positive experience. Customer service is always fantastic. I have run into several snags and issues that were mostly out of their control, and they handled them quickly and easily for me. For example, I have had unauthorized charges on my debit card a couple of times. Both times all I had to do to get the issue taken care of was to go in and explain that I didn't recognize the charges. They immediately removed them, re-issued my card, and took care of informing VISA of the issue for me. Another issue I'd run into was an overdraft because of an incorrect charge by a vendor. Upon explaining the situation to them, they removed the fee and gave me a chance to transfer money into the checking account so that I wouldn't overdraft again. Simple, painless, and fast pretty much describes all of my interactions with them. And on top of all of that, they have free coin sorting machines in their branches, which is a great convenience for anyone that accumulates change. but doesn't want to deal with carrying it around. Overall, a great bank to work with. I would highly recommend them to anyone.
|Return on Assets - YTD||1.02%|
|Return on Equity - YTD||10.05%|
|Annual Interest Income||$37.9MM|
|Assets and Liabilities|
|Assets||Q3 2020vs Q3 2019||$1.51B$1.32B|
|Loans||Q3 2020vs Q3 2019||$1.08B$963.5MM|
|Deposits||Q3 2020vs Q3 2019||$1.29B$1.10B|
|Equity Capital||Q3 2020vs Q3 2019||$152.8MM$134.1MM|
|Loan Loss Allowance||Q3 2020vs Q3 2019||$7.1MM$4.3MM|
|Unbacked Noncurrent Loans||Q3 2020vs Q3 2019||$2.2MM$1.5MM|
|Real Estate Owned||Q3 2020vs Q3 2019||$0$0|
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