Rockland Federal Credit Union: A Comprehensive Guide to Your Financial Partner

Rockland Federal Credit Union (RFCU) is a not-for-profit financial institution that has been serving the Rockland County community for over 75 years. With a mission to provide exceptional financial services and support to its members, RFCU has grown to become one of the largest credit unions in the region.

Core Values and Commitment

1. Member-Focused: RFCU places its members at the heart of everything it does. With a focus on personalized service and tailored solutions, the credit union strives to meet the unique financial needs of each individual.

2. Affordable and Accessible: RFCU offers a range of affordable financial products and services, including low-interest loans, high-yield savings accounts, and convenient online and mobile banking. These services are designed to help members save money, grow their wealth, and achieve their financial goals.

3. Financial Education and Empowerment: RFCU believes that financial literacy is essential for financial success. The credit union offers a variety of educational resources, workshops, and counseling services to help members make informed financial decisions and manage their money effectively.

4. Community Involvement: RFCU is an active member of the Rockland County community. The credit union supports local businesses, non-profit organizations, and community events. RFCU believes in giving back to the community that has supported its growth and success.

Products and Services

Checking Accounts

RFCU offers a variety of checking account options to meet the needs of its members:

• Basic Checking: A no-minimum-balance account that provides basic banking services, including check writing, debit card access, and online banking.
• Performance Checking: An interest-bearing account that earns a competitive rate on balances over $500.
• Advantage Checking: A high-yield account that offers unlimited check writing, ATM withdrawals, and rebates on debit card purchases.

Savings Accounts

RFCU offers a range of savings accounts to help members save for short- and long-term goals:

• Regular Savings: A traditional savings account that earns a competitive interest rate on balances of any size.
• Money Market Account: A high-yield account that offers a variable interest rate based on market conditions.
• Certificate of Deposit (CD): A fixed-term account that offers a guaranteed interest rate for a specific period.

Loans

RFCU offers a variety of loan products to help members finance major purchases, consolidate debt, or cover unexpected expenses:

• Personal Loans: Unsecured loans with competitive interest rates and flexible repayment terms.
• Mortgage Loans: Fixed-rate and adjustable-rate mortgage loans for home purchases, refinances, and construction.
• Auto Loans: Competitive interest rates and flexible terms on new and used car loans.

Business Services

RFCU provides a comprehensive suite of business services to support local businesses:

• Business Checking Accounts: Accounts tailored to the unique needs of businesses, offering low fees and convenient access.
• Business Loans: Loans for working capital, equipment purchases, and business expansions.
• Merchant Services: Credit card processing solutions to help businesses accept payments securely and efficiently.

Benefits of Banking with Rockland Federal Credit Union

There are numerous benefits to banking with Rockland Federal Credit Union:

• Member-Owned and Locally Focused: As a not-for-profit financial institution, RFCU is owned by its members and reinvesting its profits back into the community.
• Personalized Service: RFCU provides personalized attention and tailored financial solutions to meet the unique needs of each member.
• Affordable and Accessible: RFCU offers affordable financial products and services, making it easy for members to save money and achieve their financial goals.
• Financial Education and Support: RFCU provides a range of educational resources and counseling services to help members make informed financial decisions.
• Community Involvement: RFCU actively supports local businesses, non-profit organizations, and community events, contributing to the overall well-being of the Rockland County community.

Compare and Contrast

Credit Unions vs. Banks

Credit unions and banks offer different financial services, with some key differences to consider:

Rockland Federal Credit Union vs. Other Credit Unions

RFCU stands out among other credit unions in several ways:

Stories That Inspire

The Homeowner's Dream

After years of saving and searching, Mary and Tom were finally ready to buy their first home. They had heard about RFCU's competitive mortgage rates and personalized service from their friends and neighbors.

Working with a knowledgeable RFCU mortgage representative, Mary and Tom found a home that met their needs and budget. RFCU pre-approved their loan quickly and efficiently, giving them confidence throughout the homebuying process.

With their mortgage from RFCU, Mary and Tom secured a low interest rate and affordable monthly payments, enabling them to achieve their dream of homeownership faster than they had expected.

Lesson Learned: Working with a member-focused credit union can make a significant difference in the homebuying process, providing personalized service, competitive rates, and timely support.

The Business Builder

John had a vision to start his own small business, but he needed access to capital to get it off the ground. He had heard about RFCU's business loans and decided to give them a call.

After meeting with a dedicated business loan officer, John learned about RFCU's flexible loan terms and low interest rates. He was guided through the application process and provided with valuable advice on business planning and financial management.

With a business loan from RFCU, John was able to purchase the equipment and supplies he needed and launch his business. RFCU's support and financial guidance helped him navigate the challenges of starting a new venture.

Lesson Learned: Access to affordable and flexible business loans from a supportive credit union can empower entrepreneurs to turn their dreams into reality.

The Retiree's Plan

After years of hard work and saving, Susan was ready to retire and enjoy her golden years. She had always had a good handle on her finances, but she wanted to ensure her retirement savings would last for the rest of her life.

Susan met with a financial advisor at RFCU who specialized in retirement planning. Together, they developed a comprehensive plan that included rolling over her 401(k) into an IRA, investing in a portfolio of low-volatility assets, and maximizing her Social Security benefits.

With the guidance of RFCU's financial advisor, Susan transitioned to retirement with confidence, knowing that her financial future was secure and that she could enjoy her retirement years without worry.

Lesson Learned: By partnering with a knowledgeable financial advisor at a credit union, retirees can create a solid retirement plan that provides financial stability and peace of mind.

Step-by-Step Approach

How to Become a Member of Rockland Federal Credit Union

To become a member of RFCU, follow these steps:

1. Check Membership Eligibility: Visit RFCU's website to review the eligibility criteria. You must meet specific criteria, such as living or working in Rockland County.
2. Complete the Membership Application: Download the membership application form and complete it accurately. Provide your personal information, employment details, and financial history.
3. Provide Proof of Identity: Submit a copy of your driver's license, passport, or other government-issued identification card.
4. Pay the Membership Fee: Pay a one-time membership fee, which varies depending on the chosen membership type.
5. Open a Share Savings Account: Open a share savings account with a minimum balance to establish your membership.

How to Apply for a Loan from Rockland Federal Credit Union

To apply for a loan from RFCU, follow these steps:

1. Determine Your Loan Needs: Consider the purpose of the loan, the amount you need, and the repayment term you can afford.
2. Pre-Qualify Online: Visit RFCU's website to pre-qualify for a loan. This will give you an estimate of the loan amount and interest rate you may qualify for.
3. Gather Required Documents: Collect financial documents such as pay stubs, bank statements, and tax returns to support your loan application.
4. Complete the Loan Application: Choose the loan type you need and complete the online or in-person loan application form. Provide accurate information about your income, expenses, and assets.
5. Submit Your Application: Submit your completed loan application, along with the required documents, for review.
6. Receive a Loan Decision: RFCU will review your application and make a loan decision based on your credit history, income, and debt-to-income ratio.

How to Improve Your Credit Score

To improve your credit score, follow these steps:

1. Check Your Credit Report: Obtain a free copy of your credit report from each of the three major credit bureaus (Equifax, Experian,