Question 1

What is B-M S Federal Credit Union?

Accepted Answer

B-M S Federal Credit Union is a not-for-profit financial cooperative headquartered in New Brunswick, New Jersey. Established to serve employees of Bristol Myers Squibb Corporation and its wholly owned subsidiaries, this federally chartered credit union has grown to approximately $80 million in assets and serves over 3,700 members. The credit union operates as a member-owned cooperative, with each member holding partial ownership through their initial $5 share account deposit.

B-M S FCU specializes in providing personalized financial services to its corporate-affiliated membership base. The institution is regulated by the National Credit Union Administration (NCUA), which insures member deposits up to $250,000.

Question 2

When was B-M S Federal Credit Union founded?

Accepted Answer

B-M S Federal Credit Union was chartered in 1954 under the original name Squibb Local 438. The credit union was established to serve employees of what would become Bristol Myers Squibb Corporation.

The institution underwent two name changes during its early decades before officially becoming B-M S Federal Credit Union in 1990. That same year marked a pivotal transformation period with the introduction of new management, expanded office locations, and enhanced service offerings. Since 1990, the credit union has experienced significant growth, expanding from $14 million to over $80 million in assets.

Question 3

Where is B-M S Federal Credit Union headquartered?

Accepted Answer

B-M S Federal Credit Union is headquartered at 1 Squibb Drive in New Brunswick, New Jersey. The headquarters location reflects the credit union's historical connection to Bristol Myers Squibb, whose corporate campus is in the same area.

Question 4

Where does B-M S Federal Credit Union operate?

Accepted Answer

B-M S Federal Credit Union operates five branches located throughout New Jersey. All branch locations serve the credit union's membership base, which is concentrated around Bristol Myers Squibb facilities and affiliated company locations in the state.

The credit union participates in a shared branch network of approximately 3,000 credit unions nationwide, allowing members to conduct transactions such as deposits, withdrawals, and transfers at participating credit union locations across the United States. Members also have access to surcharge-free ATMs through this cooperative network.

Question 5

What services does B-M S Federal Credit Union offer?

Accepted Answer

B-M S Federal Credit Union provides a comprehensive range of financial products and services:

Deposit Accounts: Share savings accounts (with a minimum $5 opening deposit), checking accounts, and investment accounts with competitive dividend rates.

Lending Products: Various loan options including personal loans, auto loans, and mortgage products with competitive interest rates for members.

Digital Banking: Mobile banking applications and online banking platforms that enable members to transfer money, receive notifications, pay bills, and manage accounts remotely. Members can access their accounts 24/7 through secure digital channels.

Additional Services: Bill payment services, account transfers, and access to a nationwide shared branch network for convenient in-person banking at over 3,000 participating credit union locations.

The credit union focuses on returning excess earnings to members through competitive rates rather than maximizing profits, consistent with its cooperative structure.

Question 6

What makes B-M S Federal Credit Union unique?

Accepted Answer

Corporate Affiliation: B-M S FCU serves a specific field of membership—employees of Bristol Myers Squibb Corporation and its wholly owned subsidiaries, plus affiliated companies. This corporate connection creates a tight-knit financial community.

Lifetime Membership: Once an eligible employee opens a share account with just $5, they become a member for life, retaining membership benefits even after changing jobs, relocating, or retiring. Family members (spouse, children, grandchildren, parents, grandparents, and siblings) of existing members are also eligible to join.

Member-Focused Philosophy: For over 30 years, the credit union has prioritized returning value to members through competitive dividend rates on savings and competitive interest rates on loans, rather than generating profits for external shareholders.

Shared Branch Network Access: Members benefit from access to a national network of 3,000 credit unions, providing convenient banking services nationwide despite the credit union's regional branch footprint in New Jersey.

Question 7

What type of financial institution is B-M S Federal Credit Union?

Accepted Answer

B-M S Federal Credit Union is a federally chartered credit union operating under federal regulations and supervised by the National Credit Union Administration (NCUA).

As a federal credit union, it operates as a not-for-profit financial cooperative owned by its members. Each member holds an ownership stake through their share account, giving them voting rights in credit union governance. This cooperative structure means the institution is focused on serving member needs rather than generating profits for external investors.

Membership Requirements: Membership is restricted by field of membership to employees of Bristol Myers Squibb Corporation and its wholly owned subsidiaries, employees of affiliated companies on the credit union's approved list, and family members of existing members. The credit union requires a minimum $5 deposit to establish a share savings account and become a member.

The credit union's charter number is 9146, and all member deposits are federally insured up to $250,000 through the NCUA Share Insurance Fund.

B-M S Federal Credit Union (B-M S FCU)

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About B-M S Federal Credit Union (B-M S FCU) in the United States