Question 1

What is Affiliated Trades Credit Union?

Accepted Answer

Affiliated Trades Credit Union is a federally chartered credit union headquartered in Collegeville, Pennsylvania. Established to serve members of the International Brotherhood of Electrical Workers (IBEW), the credit union specializes in providing affordable financial services to union members and their families.

With approximately $38.8 million in total assets and serving over 2,290 members, Affiliated Trades Credit Union operates as a member-owned cooperative financial institution. The credit union maintains a strong focus on low-interest loans and personalized member service, reflecting its commitment to supporting the financial well-being of the electrical workers community.

Question 2

When was Affiliated Trades Credit Union founded?

Accepted Answer

Affiliated Trades Credit Union was founded in 1974. The credit union was established by members of the International Brotherhood of Electrical Workers to provide financial services tailored to the unique needs of union electricians and their families.

The founding mission centered on offering accessible, affordable financial products to workers who needed an alternative to traditional banking institutions. Over its five decades of operation, the credit union has maintained its dedication to serving the electrical trades community while adapting to modern banking needs.

Question 3

Where is Affiliated Trades Credit Union headquartered?

Accepted Answer

Affiliated Trades Credit Union is headquartered at 3900 Ridge Pike in Collegeville, Pennsylvania. The credit union operates from a single branch location, which also serves as its main office and corporate headquarters.

Question 4

Where does Affiliated Trades Credit Union operate?

Accepted Answer

Affiliated Trades Credit Union operates primarily in the Collegeville, Pennsylvania area, serving a specific membership base. The credit union's field of membership is restricted to individuals associated with IBEW Local Union 98 North, retired members of IBEW Local Union 380, and their immediate family members.

This select employer group (SEG) based membership structure means the credit union serves electrical workers and their families throughout the greater Philadelphia and southeastern Pennsylvania region where these IBEW locals operate. The credit union's focused membership allows it to provide specialized services that meet the specific financial needs of union electricians and their households.

Question 5

What services does Affiliated Trades Credit Union offer?

Accepted Answer

Affiliated Trades Credit Union provides a comprehensive range of financial products and services designed for its membership. Core offerings include share accounts (savings accounts), share draft accounts (checking accounts), money market accounts, and share certificates (certificates of deposit) with various term options.

The credit union specializes in low-interest lending, offering personal loans, signature secured loans, and auto loans to members. In 2022, the credit union extended approximately $5.98 million in loans to its membership, with outstanding loans totaling over $14 million at competitive average yields.

Additional member benefits include IRA and Keogh retirement accounts, credit disability and life insurance products, and debit card services with interchange benefits. Members can access their accounts through online banking services via the credit union's website at www.affiliatedtradescu.org, providing convenient digital access to account management and financial services.

Question 6

What makes Affiliated Trades Credit Union unique?

Accepted Answer

Affiliated Trades Credit Union stands out for its specialized focus on serving the electrical trades community through IBEW union membership. This niche focus allows the credit union to understand and address the specific financial needs and circumstances of electricians and skilled tradespeople.

The credit union's commitment to affordable lending is particularly distinctive, with a mission centered on providing low-interest loans that support member financial stability. With a loan-to-share ratio of approximately 43.65%, the credit union maintains a conservative lending approach while still meeting member credit needs.

Despite its relatively small size with just four employees, Affiliated Trades Credit Union delivers personalized service that larger financial institutions often cannot match. The credit union's strong financial performance, including a return on average assets of 0.28% and a healthy net worth ratio of 10.41%, demonstrates sound management while keeping member interests at the forefront.

The credit union operates as a registered 501(c)(14) nonprofit organization, ensuring that profits are returned to members through better rates, lower fees, and enhanced services rather than distributed to external shareholders.

Question 7

What type of financial institution is Affiliated Trades Credit Union?

Accepted Answer

Affiliated Trades Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA) and insured by the National Credit Union Share Insurance Fund (NCUSIF). As a federal credit union, it operates under federal banking regulations and oversight.

The credit union functions as a member-owned financial cooperative, meaning members are both customers and owners with voting rights in credit union governance. This cooperative structure distinguishes credit unions from traditional banks, as decisions are made democratically with each member having one vote regardless of account size.

Membership eligibility is restricted to individuals affiliated with IBEW Local Union 98 North, retired members of IBEW Local Union 380, and their immediate family members. This select employer group (SEG) based membership model is common among occupational credit unions and allows the institution to provide focused, specialized services to a defined community of interest.

The credit union is governed by a volunteer board of directors elected from the membership, led by President John A. Keslick Sr. and managed by CEO Brian C. Bischof, ensuring that member interests drive all operational decisions and strategic planning.

Affiliated Trades Credit Union

in the United States 🇺🇸

Crypto-Friendliness

All done!

About Affiliated Trades Credit Union in the United States