Rockland Federal Credit Union is a member-owned financial cooperative headquartered in Rockland, Massachusetts. Founded in 1920, it serves over 100,000 members in the Greater Boston area.
As a not-for-profit organization, Rockland Federal Credit Union reinvests its earnings back into its members in the form of lower loan rates, higher savings rates, and reduced fees. It offers a wide range of financial products and services, including checking and savings accounts, mortgages, auto loans, and personal loans.
Rockland Federal Credit Union is committed to providing excellent customer service and financial education. It has been recognized for its strong financial performance and community involvement. In 2020, it was named one of the "Best Credit Unions in Massachusetts" by Forbes magazine.
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Rockland Federal Credit Union
Rockland Federal Credit Union is a member-owned financial cooperative that has been serving the Greater Boston area since 1920. It is one of the largest credit unions in Massachusetts, with over $1 billion in assets and over 100,000 members.
- Member-owned: Rockland Federal Credit Union is owned by its members, not by shareholders. This means that its profits are reinvested back into the credit union, which benefits its members in the form of lower loan rates, higher savings rates, and reduced fees.
- Not-for-profit: Rockland Federal Credit Union is a not-for-profit organization. This means that it does not have to pay taxes on its earnings, which allows it to offer lower rates and fees to its members.
- Federally insured: Rockland Federal Credit Union is insured by the National Credit Union Administration (NCUA), which means that its members' deposits are safe up to $250,000.
- Community-focused: Rockland Federal Credit Union is committed to giving back to the community. It supports a variety of local charities and organizations, and its employees volunteer their time to help make the community a better place.
- Wide range of products and services: Rockland Federal Credit Union offers a wide range of financial products and services to meet the needs of its members. These include checking and savings accounts, mortgages, auto loans, personal loans, and credit cards.
- Excellent customer service: Rockland Federal Credit Union is committed to providing excellent customer service. Its staff is friendly and helpful, and they are always willing to go the extra mile to meet the needs of its members.
- Financial education: Rockland Federal Credit Union offers a variety of financial education programs to help its members make informed financial decisions. These programs are designed to help members understand their finances, budget their money, and save for the future.
- Strong financial performance: Rockland Federal Credit Union has a strong financial performance. It has consistently earned high ratings from independent rating agencies, and it has been recognized for its financial strength and stability.
These are just a few of the key aspects that make Rockland Federal Credit Union a great choice for banking. If you are looking for a financial institution that is member-owned, not-for-profit, federally insured, and community-focused, then Rockland Federal Credit Union is the right choice for you.
1. Member-owned
The member-owned structure of Rockland Federal Credit Union is a key factor in its ability to provide excellent financial products and services to its members. Because it is owned by its members, Rockland Federal Credit Union is able to reinvest its profits back into the credit union, rather than paying dividends to shareholders. This allows Rockland Federal Credit Union to offer lower loan rates, higher savings rates, and reduced fees to its members.
- Lower loan rates: Because Rockland Federal Credit Union is member-owned, it can offer lower loan rates to its members. This is because the credit union does not have to pay dividends to shareholders, which means that it can pass on the savings to its members in the form of lower loan rates.
- Higher savings rates: Rockland Federal Credit Union also offers higher savings rates to its members. This is because the credit union does not have to pay dividends to shareholders, which means that it can offer higher interest rates on savings accounts.
- Reduced fees: Rockland Federal Credit Union also offers reduced fees to its members. This is because the credit union does not have to pay dividends to shareholders, which means that it can reduce its operating costs and pass on the savings to its members in the form of reduced fees.
- Improved financial well-being: The member-owned structure of Rockland Federal Credit Union helps to improve the financial well-being of its members. This is because the credit union is able to provide lower loan rates, higher savings rates, and reduced fees to its members, which helps them to save money and achieve their financial goals.
Overall, the member-owned structure of Rockland Federal Credit Union is a key factor in its ability to provide excellent financial products and services to its members. This structure allows the credit union to reinvest its profits back into the credit union, which benefits its members in the form of lower loan rates, higher savings rates, and reduced fees.
2. Not-for-profit
The not-for-profit status of Rockland Federal Credit Union is a key factor in its ability to provide excellent financial products and services to its members. Because it is not-for-profit, Rockland Federal Credit Union does not have to pay taxes on its earnings. This allows the credit union to offer lower loan rates, higher savings rates, and reduced fees to its members.
For example, Rockland Federal Credit Union offers some of the lowest loan rates in Massachusetts. This is because the credit union is able to pass on its tax savings to its members in the form of lower loan rates. Rockland Federal Credit Union also offers some of the highest savings rates in Massachusetts. This is because the credit union is able to offer higher interest rates on savings accounts because it does not have to pay taxes on its earnings.
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The not-for-profit status of Rockland Federal Credit Union is also important because it allows the credit union to focus on its mission of providing excellent financial products and services to its members. The credit union is not beholden to shareholders, so it does not have to focus on maximizing profits. This allows Rockland Federal Credit Union to make decisions that are in the best interests of its members, rather than in the best interests of shareholders.
Overall, the not-for-profit status of Rockland Federal Credit Union is a key factor in its ability to provide excellent financial products and services to its members. This status allows the credit union to offer lower loan rates, higher savings rates, and reduced fees to its members.
3. Federally insured
The fact that Rockland Federal Credit Union is federally insured by the National Credit Union Administration (NCUA) is a key factor in its ability to provide a safe and secure place for its members to save their money. The NCUA is a federal agency that insures deposits up to $250,000 at federally insured credit unions. This means that if Rockland Federal Credit Union were to fail, its members' deposits would be protected up to $250,000.
The NCUA insurance is important because it gives members peace of mind knowing that their money is safe. This is especially important in the event of a financial crisis, when banks and credit unions can be at risk of failure. NCUA insurance helps to protect members from losing their savings in the event of a credit union failure.
In addition to providing peace of mind, NCUA insurance also helps to promote financial stability. By insuring deposits, the NCUA helps to ensure that credit unions have the funds they need to lend to members and businesses. This helps to keep the economy running smoothly.
Overall, the fact that Rockland Federal Credit Union is federally insured by the NCUA is a key factor in its ability to provide a safe and secure place for its members to save their money. NCUA insurance helps to protect members' deposits up to $250,000, promotes financial stability, and gives members peace of mind.
4. Community-focused
Rockland Federal Credit Union's commitment to community is evident in its support of a variety of local charities and organizations. The credit union provides financial support to organizations that are working to improve the lives of people in the Greater Boston area. These organizations include food pantries, homeless shelters, and after-school programs.
- Supporting local charities and organizations: Rockland Federal Credit Union supports a variety of local charities and organizations that are working to make a difference in the community. These organizations include food pantries, homeless shelters, and after-school programs.
- Employee volunteerism: Rockland Federal Credit Union employees are encouraged to volunteer their time to help make the community a better place. Employees volunteer at a variety of organizations, including soup kitchens, homeless shelters, and environmental cleanup projects.
- Community partnerships: Rockland Federal Credit Union partners with other organizations in the community to provide financial education and other services to residents. These partnerships help to improve the financial well-being of the community and make it a better place to live.
- Commitment to the community: Rockland Federal Credit Union's commitment to the community is evident in its support of local charities and organizations, its employee volunteerism, and its community partnerships. The credit union is committed to making a positive difference in the Greater Boston area.
Rockland Federal Credit Union's commitment to the community is one of the things that makes it a great place to bank. The credit union is committed to giving back to the community and making it a better place for everyone.
5. Wide range of products and services
Rockland Federal Credit Union's wide range of products and services is one of the things that makes it a great choice for banking. The credit union offers a variety of accounts to meet the needs of its members, including checking accounts, savings accounts, money market accounts, and certificates of deposit. Rockland Federal Credit Union also offers a variety of loans, including mortgages, auto loans, personal loans, and home equity loans. In addition, the credit union offers a variety of other financial services, such as credit cards, insurance, and financial planning.
- Convenience: Rockland Federal Credit Union's wide range of products and services makes it convenient for members to bank with the credit union. Members can find everything they need in one place, from checking and savings accounts to loans and credit cards.
- Competitive rates: Rockland Federal Credit Union offers competitive rates on its products and services. This means that members can save money on their banking needs.
- Member service: Rockland Federal Credit Union is committed to providing excellent member service. The credit union's staff is friendly and helpful, and they are always willing to go the extra mile to meet the needs of its members.
- Financial security: Rockland Federal Credit Union is a safe and secure place to bank. The credit union is federally insured by the National Credit Union Administration (NCUA), which means that members' deposits are safe up to $250,000.
Overall, Rockland Federal Credit Union's wide range of products and services is a key factor in its ability to provide excellent financial products and services to its members. The credit union offers a variety of accounts, loans, and other financial services to meet the needs of its members, and it is committed to providing excellent member service and financial security.
6. Excellent customer service
Excellent customer service is a hallmark of Rockland Federal Credit Union. The credit union's staff is friendly and helpful, and they are always willing to go the extra mile to meet the needs of its members. This commitment to customer service is evident in everything the credit union does, from the way it greets members when they walk in the door to the way it resolves complaints.
- Friendly and helpful staff: The staff at Rockland Federal Credit Union is known for being friendly and helpful. They are always willing to answer questions, provide information, and help members with their banking needs.
- Going the extra mile: The staff at Rockland Federal Credit Union is always willing to go the extra mile to meet the needs of its members. This means taking the time to explain complex financial products, helping members to budget their money, and finding the best loan or savings account for their needs.
- Resolving complaints: Rockland Federal Credit Union is committed to resolving complaints quickly and efficiently. The credit union has a dedicated team of customer service representatives who are trained to handle complaints and resolve them to the satisfaction of the member.
Rockland Federal Credit Union's commitment to excellent customer service is one of the things that makes it a great place to bank. Members can be confident that they will be treated with respect and that their needs will be met.
7. Financial education
Financial education is an important part of Rockland Federal Credit Union's mission to provide excellent financial products and services to its members. The credit union offers a variety of financial education programs and resources to help members make informed financial decisions. These programs cover a wide range of topics, including budgeting, saving, investing, and credit management.
Rockland Federal Credit Union's financial education programs are designed to meet the needs of members of all ages and financial backgrounds. The credit union offers online courses, workshops, and one-on-one counseling. Rockland Federal Credit Union also partners with local schools and community organizations to provide financial education to students and adults.
Financial education is essential for making sound financial decisions. Rockland Federal Credit Union's financial education programs can help members to:
- Understand their finances
- Budget their money
- Save for the future
- Invest wisely
- Manage their credit
By taking advantage of Rockland Federal Credit Union's financial education programs, members can improve their financial well-being and achieve their financial goals.
8. Strong financial performance
Rockland Federal Credit Union's strong financial performance is a key factor in its ability to provide excellent financial products and services to its members. The credit union's strong financial performance is evident in its high ratings from independent rating agencies and its recognition for its financial strength and stability.
- High ratings from independent rating agencies: Rockland Federal Credit Union has consistently earned high ratings from independent rating agencies, such as BauerFinancial and Weiss Ratings. These ratings are based on the credit union's financial strength and stability.
- Recognition for financial strength and stability: Rockland Federal Credit Union has been recognized for its financial strength and stability by a number of organizations, including the National Credit Union Administration (NCUA) and the Massachusetts Credit Union League. These recognitions are based on the credit union's strong financial performance and its commitment to sound financial management practices.
Rockland Federal Credit Union's strong financial performance benefits its members in a number of ways:
- Lower loan rates: Because Rockland Federal Credit Union has a strong financial performance, it is able to offer lower loan rates to its members. This can save members money on their monthly loan payments.
- Higher savings rates: Rockland Federal Credit Union's strong financial performance also allows it to offer higher savings rates to its members. This can help members to grow their savings faster.
- Improved financial services: Rockland Federal Credit Union's strong financial performance allows it to invest in new and improved financial services for its members. This can include new products and services, as well as enhanced existing products and services.
Overall, Rockland Federal Credit Union's strong financial performance is a benefit to its members. The credit union's strong financial performance allows it to offer lower loan rates, higher savings rates, and improved financial services to its members.
Frequently Asked Questions
This section provides answers to some of the most frequently asked questions about Rockland Federal Credit Union.
Question 1: What is Rockland Federal Credit Union?
Rockland Federal Credit Union is a member-owned, not-for-profit financial cooperative that has been serving the Greater Boston area since 1920. It is one of the largest credit unions in Massachusetts, with over $1 billion in assets and over 100,000 members.
Question 2: What are the benefits of being a member of Rockland Federal Credit Union?
There are many benefits to being a member of Rockland Federal Credit Union, including lower loan rates, higher savings rates, reduced fees, improved financial services, and a commitment to the community.
Question 3: Is Rockland Federal Credit Union safe?
Yes, Rockland Federal Credit Union is a safe and secure place to bank. The credit union is federally insured by the National Credit Union Administration (NCUA), which means that members' deposits are safe up to $250,000.
Question 4: What financial products and services does Rockland Federal Credit Union offer?
Rockland Federal Credit Union offers a wide range of financial products and services to meet the needs of its members, including checking and savings accounts, mortgages, auto loans, personal loans, and credit cards.
Question 5: What makes Rockland Federal Credit Union different from other banks and credit unions?
Rockland Federal Credit Union is different from other banks and credit unions because it is member-owned, not-for-profit, and federally insured. This means that the credit union is able to offer lower loan rates, higher savings rates, and reduced fees to its members.
Question 6: How can I become a member of Rockland Federal Credit Union?
Becoming a member of Rockland Federal Credit Union is easy. You can join online, by phone, or in person at any of the credit union's branches.
We hope this FAQ section has been helpful. If you have any other questions, please do not hesitate to contact us.
To learn more about Rockland Federal Credit Union, please visit our website or call us at 1-800-562-8721.
Tips from Rockland Federal Credit Union
Rockland Federal Credit Union is a member-owned, not-for-profit financial cooperative that has been serving the Greater Boston area since 1920. It is one of the largest credit unions in Massachusetts, with over $1 billion in assets and over 100,000 members.
Rockland Federal Credit Union is committed to providing excellent financial products and services to its members. The credit union offers a wide range of accounts, loans, and other financial services to meet the needs of its members. Rockland Federal Credit Union is also committed to providing excellent customer service and financial education.
Here are a few tips from Rockland Federal Credit Union to help you manage your finances:
Tip 1: Create a budget.
A budget is a plan for how you will spend your money each month. Creating a budget can help you to track your income and expenses, and to make sure that you are not spending more money than you earn.
Tip 2: Save money regularly.
Saving money regularly is a great way to build your financial security. Even small amounts of money saved each month can add up over time.
Tip 3: Avoid debt.
Debt can be a major financial burden. If you can, avoid taking on debt. If you do have debt, try to pay it off as quickly as possible.
Tip 4: Invest your money wisely.
Investing your money can be a great way to grow your wealth. There are a variety of investment options available, so it is important to do your research and find the options that are right for you.
Tip 5: Get financial advice.
If you are struggling to manage your finances, consider getting financial advice from a professional. A financial advisor can help you to create a budget, save money, avoid debt, and invest your money wisely.
By following these tips, you can improve your financial well-being and achieve your financial goals.
To learn more about Rockland Federal Credit Union, please visit our website or call us at 1-800-562-8721.
Conclusion
Rockland Federal Credit Union has been serving the Greater Boston area since 1920. It is a member-owned, not-for-profit financial cooperative with over $1 billion in assets and over 100,000 members. Rockland Federal Credit Union is committed to providing excellent financial products and services to its members, including lower loan rates, higher savings rates, reduced fees, and improved financial services.
Rockland Federal Credit Union is a safe and secure place to bank. It is federally insured by the National Credit Union Administration (NCUA), which means that members' deposits are safe up to $250,000. Rockland Federal Credit Union is also committed to providing excellent customer service and financial education. The credit union offers a variety of financial education programs and resources to help members make informed financial decisions.
If you are looking for a financial institution that is member-owned, not-for-profit, federally insured, and community-focused, then Rockland Federal Credit Union is the right choice for you. To learn more about Rockland Federal Credit Union, please visit our website or call us at 1-800-562-8721.
