About Us Content

• history
• from the president
• hours & locations
• how to join
• partners in success
• privacy policy
• website disclaimer

Our Mission
To provide professional financial services for the benefit of our members while reinforcing the credit union philosophy of "people helping each other."

First Nebraska Credit Union and Educators Credit Union became one April 1, 2000. Now we are First Nebraska Educators Credit Union, and we bring to our members over 100 years of combined service.

We serve many employee groups and all public school employees throughout the state of Nebraska. Our past is a Legacy of Caring. Our future is a Commitment to Service. Caring and Service for our members - that is what we are all about.

What is a Credit Union?
Credit unions offer many of the same services you find at other financial institutions, but sometimes use different words to describe familiar activities. You don't have to learn a new language to be a First Nebraska member — we know what you mean no matter what terms you use — but you might like to know why credit unions "talk funny."

It's all part of what makes credit unions significantly different from other financial service providers.

Your credit union savings represent your "share" in your financial cooperative, which is what a credit union is. Thus, you have a share savings account, or, for a fixed-term account, a time share certificate account. And if you have an account you use, for example, to pay bills and finance daily recreation, you have a share draft account, so named because you're able to draw on your shares.

In all respects, these accounts work the same way savings, certificate of deposit, and checking accounts work at other institutions. The only difference is that credit union accounts have important benefits for members: Fees you pay to use the accounts typically are lower, and dividends you earn on the accounts often are higher than at other financial institutions. Dividends are the share of earnings First Nebraska Educators Credit Union distributes to shareholders/ members.

Fees and borrowing rates are lower, and savings rates are higher, because credit unions are not-for-profit financial cooperatives. Profit-driven financial institutions like banks must make money to pay stockholders in proportion to their holdings. All credit union members benefit from the credit union's financial success, but bank income bypasses customers to pay a limited number of stockholders.

Members ultimately have responsibility for credit union operations because they elect qualified volunteers from among the membership. These unpaid volunteers, called directors, hire the professional manager or chief executive officer to oversee daily credit union operations and plan for future services and financial management. Banks and saving and loans pay their board members, providing motivation for them to make decisions based on financial gain for themselves and stockholders, not for customers.

Your credit union shares are insured by the National Credit Union Share Insurance Fund (NCUSIF) or the Fund backed by the National Credit Union Administration to at least $100,000 per account. Not one penny of insured savings has ever been lost by a member of a federally insured credit union. The Fund was established by Congress in 1970 and is currently at the strongest and best reserved level in its history.

In addition First Nebraska Educators Credit Union under goes rigorous examination by the State of Nebraska Department of Banking, the National Credit Union Administration, and quarterly audits by an independent auditor to assure sound operation and management.

First Nebraska Educators Credit Union received its operating charter — permission to do business and the rules it must observe from the State of Nebraska in 1964. The directors and management comply with the charter and also with the credit union's own bylaws. These are rules that members and directors adopt to define the credit union's field of membership (who's eligible to join), set the par value of shares at $25 (the minimum to maintain an account and receive services.

Now that we're all speaking the same language, call the office closest to you for information about membership or financial services that may help to improve your quality of life! Call 1-800-882-0244 or view our membership requirements.