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|Auto Loans||1.965% APR**|
|Mortgage Loans||Please Call for Rate|
|Credit Cards||8.99% APR**|
|Signature Loans||5.50% APR**|
APY = Annual Percentage Yield
* As high as | ** As low as
Q: What are the benefits of being an NAE Federal Credit Union Member:
- Free Voice Response (Phone Banking)
- Free Online Banking
- Free Draft Accounts (except purchase of drafts)
- Free Debit Transactions and Card
- Free Bill Pay (12 transactions per month)
- Free Payroll Deduction
- Free ATM transactions at our locations
- Low Rate Credit Card with No Annual Fees
- Low Rate Loans
- Member Discounts
- Federally Insured by the NCUA
- Convenient Hours
Q: What is a Credit Union?
A: NAE Federal Credit Union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. Our primary purpose is to encourage our members to save money; another purpose is to offer loans to members.
We are member-owned and controlled through a volunteer board of directors elected by the membership. The board establishes and revises policy and sets dividend and loan rates, and may hire a management team to run the credit union. The result: our members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.
Federal credit union members are provided with a safe, convenient place to save and borrow at reasonable rates, with savings insured to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF).
Q: Who owns a credit union?
A: Each credit union member owns one "share" of the credit union. Anyone who uses credit union services is also an owner, and is entitled to vote on important issues, such as the election of member representatives to serve on the board of directors. This is different from most other financial institutions, which are owned by stockholders who intend to make money from their investment. Credit unions can charge lower rates for loans (and pay higher dividends on savings) because we are not-for-profit cooperatives. Rather than paying profits to stockholders, we return earnings to members as dividends or improved services.
Q: How did credit unions start?
A: The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire, where the St. Mary's Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.
Q: What is the purpose of a credit union?
A: The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.
Q: Who can join NAE Federal Credit Union?
A: NAE Federal Credit Union is community chartered and can accept membership from people living and conducting business within the area. If you live, work, worship, volunteer or attend school in, and businesses and other legal entities located in the Virginia Beach - Norfolk -Newport News, VA - NC Metropolitan Statistical Area consisting of Gloucester, Isle of Wight, James City, Mathews, and York Counties, including the cities of Chesapeake, Hampton, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach, and Williamsburg in Virginia and Currituck and Gates Counties in North Carolina, you qualify for NAE Federal Credit Union membership.
Q: What is NAE’s Mission?
A: NAE Federal Credit Union was established to attract and retain members by providing responsive, creative solutions for member needs through:
- Quality Products of Value
- Effective, targeted marketing
- Superior MEMBER service
- Highly efficient operations
- Sound fiscal policies