MEMBERSHIP
You and Your Employees are personally invited!
We would like to extend an invitation to you and your employees to become members of the Okaloosa County Teachers Federal Credit Union. The Okaloosa County Teachers Federal Credit Union is a non-profit financial organization, made up of individuals coming together to share a common bond. Credit Unions are similar to other financial institutions in many ways, but have one very important difference: we are owned by our members and are dedicated to serving them not as customers but as member owners. We offer a wide variety of services:
For the convenience of your employees, we would be more than happy to come to your business to open New Accounts, and answer any questions you may have.
Credit Union HistoryBack to TopMission
The credit union idea is a simple one: People should be able to pool their money and make loans to each other. It's an idea that evolved from cooperative activities in 19th century Europe. Since that time, the idea's guiding principles have remained the same: (1) Only people who are credit union members should borrow there; (2) loans are made for "prudent and productive" purposes; (3) a person's desire to repay (character) is considered more important than the ability (income) to repay. Members are, after all, borrowing their own money and that of their friends. These principles still govern most of the world's credit unions. As the 20th century began, the credit union idea surfaced in Canada. Canada's successful efforts profoundly influenced two Americans: Pierre Jay, the Massachusetts banking commissioner, and Edward A. Filene, a Boston merchant.
To help members with financial services in a caring environment.
Back to TopLocationsclick here
The Okaloosa County Teachers Federal Credit Union is a nonprofit association of people, already under a common bond, who desire to participate in a cooperative effort to promote the well being and general welfare of the members through better money management. This is accomplished by encouraging habits of regular savings, by providing low cost credit for provident and productive purposes, by teaching thrift in the wise use of money, and by rendering council during periods of financial stress.
For a list of our locations
Back to TopBenefits of Membership
Founded on the basic democratic premise of the cooperative movement, credit unions believe that access to low-cost financial services is critical to the health and stability of ordinary citizens. In fact, nearly 80 million Americans trust their credit union to provide the services to improve their financial well being. Credit union membership offers many benefits. Services offered range from simple savings to home equity loans to IRAs. Study after study has revealed that, on average, credit unions provide the best financial offerings with fewer fees, lower rates on loans and higher rates on savings. And credit unions continually score higher than all other financial institutions in consumer satisfaction surveys. Credit unions strive to deliver the best service possible to their most important assets--their members.
Back to TopField of MembershipBack to TopTo Obtain Membership
The field of membership shall be limited to those having the following common bonds:
1. Persons who live, work, worship, or attend school in and businesses and other legal entities located in Okaloosa County, Florida. (App. 9/8/05)
2. Members of record of Okaloosa County Teachers Federal Credit Union as of September 8, 2005.
3. Persons who live, work, worship, or attend school in, and businesses and other legal entities located in the prescribed underserved community in Okaloosa County, Florida and underserved community as defined in Chapter 2, Section V of the NCUA Chartering and FOM Manual; (5/13/02)
Prescribed community: The part of Okaloosa County, Florida bounded by the following:
Begin at intersection of Hollywood Boulevard and Wright Parkway in Ft. Walton Beach, FL, the point of begining. Continue west on Hollywood Boulevard until its intersection with Jonquil Avenue. Continue North on Jonquil Avenue until its intersection with Sullivan Street. Continue West on Sullivan Street until its intersection with Wright Parkway. Continue south on Wright Parkway until intersection with Hollywood Boulevard, the point of beginning.
4. Persons who live, work, worship, or attend school in, and businesses and other legal entities located in the prescribed underserved community in Okaloosa County, Florida and underserved community as defined in Chapter 2, Section V of the NCUA Chartering and FOM manual; (5/13/02)
Prescribed community: The part of Okaloosa County, Florida bounded by the following:
Begin at the intersectio of Hollywood Boulevard and Elm Avenue SE in Ft. Walton Beach, Florida, the point of beginning. Contine south on Elm Ave. until reaching the shoreline of Santa Rosa Sound. Continue north until reaching St. Mary Ave. Continue north on St. Mary Ave. until the intersecion of Coral Drive. Continue east on Coral Drive until the intersection of Robinwood Drive. Continue north on Robinwood.
5. Spouses of persons who died while within the field of membership of this credit union; employees of this credit union; volunteers in the community; members of the immmediate families or household; and organizations of such persons.For more information on the Credit Unions field of membership, please contact either credit union office.
ONCE A MEMBER, ALWAYS A MEMBER.
Complete an application for membership. Forms are available at any credit union office.
An initial share saving deposit of $5.00 is required.
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Share/Savings Accounts
Free Share Draft/Checking Accounts
Debit Cards
Apple Teller (Audio Telephone Teller)
4 Convenient Locations (Crestview, Ft. Walton Beach, Niceville, Baker)
Much, Much, More...
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Club Accounts
Money Market Accounts
Traditional, Roth, and Educational IRAs
Certificates of Deposits
Various Loans with competitive rates
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