First Trust Credit Union

First Trust Credit Union (FTC), located in Northwest Indiana, is a not-for-profit financial institution owned and run cooperatively. Members benefit from access to banking products and services as part of this cooperative model; unlike banks which are privately held by shareholders and return profits in loan rates or savings interest payments to members instead. FTC offers its members deposit accounts as well as loans and mortgages.

Membership in a credit union is free and straightforward. To join, all you need is valid government ID, Social Security number or tax identification number and to provide your address as part of an application for membership. Also agreeing to their bylaws may be required – most lenders offer online applications so this process may take several weeks until approval comes through.

If you meet eligibility, the credit union will notify and send a membership card. Even if you don’t make it into one, opening an account and starting saving can still help build your savings or earnings; just know that under federal law your lender will verify your income and assets to determine your ability to repay any loans obtained using that account.

Credit unions across the country are roughly divided between federally chartered institutions and those regulated by state agencies. The main distinction between federally and state-chartered credit unions lies in how your deposits are insured: banks typically use FDIC coverage while deposits at credit unions may be insured through state agencies or even National Credit Union Administration.

Credit unions differ from banks in many ways, but one key distinction lies in the way they view their members. Where banks typically take an “banker-first” approach to lending money, credit unions embrace an alternative philosophy of people helping each other and building community together.

First Trust Michigan City works to foster relationships with nonprofit organizations like The Salvation Army and Open Door Adolescent Health Center. Most recently, First Trust hosted a fundraiser benefitting students at Hilltop Neighborhood House. Furthermore, First Trust works hard to get involved in its community year-round through partnerships with local schools.

Additionally, the credit union offers its members numerous conveniences, such as mobile apps for iPhone and Android users to check balances or transfer funds for debit transactions from checking or savings accounts to cover debit transactions.

To join First Tech Credit Union in Indiana, one must either work or reside within La Porte, Porter, Jasper Newton Pulaski County. Even if this criteria aren’t met, membership can still be gained if family or coworker of yours are members; otherwise membership is also open to anyone who knows someone with First Tech membership.