FAQs

To assist you, we have compiled a short list of the most frequently asked questions and answers. We hope that this list will help you.

Q. Are my deposits insured?
A. YES, each Fairfield Federal Credit Union share account is insured up to at least $250,000 by the National Credit Union Share Insurance Fund by NCUA  ). A "share account" includes all the non-IRA deposit accounts for a primary account holder: savings, checking, and certificates.
Q. Is my IRA insured?
A. Retirement Account protection is separate and apart from insurance coverage on other credit union accounts, providing you with additional protection. IRA accounts are insured separately from the share account up to $250,000.
Q. What is a Credit Union?
A. A credit union is a not-for-profit, cooperative financial institution owned and controlled by its Members.
Q. What is the difference between a Credit Union and a Bank?
Credit UnionBank
  • Not-for-profit cooperative
  • Owned by its Members
  • Run by a volunteer board of directors
  • You have a vote — one Member, one vote — your opinion matters
  • For profit financial institution
  • Owned by its stock holders
  • Run by paid board of directors
  • You have NO vote
Q. Who can join Fairfield Federal Credit Union?
A. Our field of membership allows us to serve persons who live, work, worship, attend school in, and businesses or other legal entities located within Jefferson County (and members of these persons' immediate families. Immediate family is defined as: spouse, child, step-child, sibling, parent, grandparent or grandchild.)
Q. How do I join Fairfield Federal Credit Union?
A. Stop by one of our locations with your Drivers' License, Social Security Card, and proof of eligibility.
Q. Are there any fees to join Fairfield Federal Credit Union?
A. A one-time $5.00 Membership fee is due at the time you open your share (savings) account.
Q. Is there a minimum balance requirement?
A. A $5.00 minimum balance is required to maintain membership in the Credit Union. A $300.00 minimum balance is required to earn dividends on a share (savings) account.
Q. Are there any fees on checking accounts?
A. A complete Fee Schedule is available online, however:
  • There are NO per-check or monthly fees on a personal checking account, nor is there a minimum balance requirement.
Q. What is Shared Branching?
A. With shared branching, credit unions from all over the country share facilities to give members thousands of convenient locations to perform transactions just as if they were in their home credit union. Whether you are at work, home, or your favorite travel destination, your credit union is always nearby