Question 1

What is Motion Credit Union?

Accepted Answer

Motion Credit Union is a federally chartered, not-for-profit financial cooperative headquartered in Linden, New Jersey. With approximately $61 million in assets and over 5,100 members, Motion operates as a member-owned institution focused on providing customized banking solutions to member-owners and their families.

The credit union holds significant historical distinction as the oldest federally chartered credit union in New Jersey and the fourteenth oldest federally chartered credit union in the United States. Motion serves employees and members of Select Employer Groups (SEGs), including major Fortune 500 companies such as ExxonMobil, Phillips66, and DuPont.

Question 2

When was Motion Credit Union founded?

Accepted Answer

Motion Credit Union was federally chartered in the early years of the federal credit union movement, earning federal charter number 53. While the exact founding date is not publicly documented, the credit union's status as the fourteenth oldest federally chartered credit union in the country indicates it was established in the 1930s during the formative years following the Federal Credit Union Act of 1934.

The credit union was founded to serve a specific employment-based field of membership and has evolved over decades to expand its reach through partnerships with numerous businesses and organizations across New Jersey.

Question 3

Where is Motion Credit Union headquartered?

Accepted Answer

Motion Credit Union is headquartered at 360 North Wood Avenue in Linden, New Jersey. The credit union's main office is located in Union County, positioned in the northeastern part of the state near the Elizabeth and Newark metropolitan areas.

Question 4

Where does Motion Credit Union operate?

Accepted Answer

Motion Credit Union primarily operates in northern and central New Jersey, serving members through its branch locations in the greater Linden area. Membership eligibility is based on employment with or affiliation to one of Motion's Select Employer Groups (SEGs), which include companies, organizations, and municipalities across New Jersey.

The credit union's field of membership extends to employees of participating employers, members of affiliated associations, residents of certain communities including the City of Linden and City of Perth Amboy, and family members of existing members. Family membership includes spouses, domestic partners, children, siblings, parents, grandparents, and grandchildren.

Question 5

What services does Motion Credit Union offer?

Accepted Answer

Motion Credit Union provides a comprehensive suite of financial products and services designed to help members manage their money effectively:

Deposit Accounts: Free checking accounts with no monthly maintenance fees and only a one-penny minimum balance requirement, share savings accounts, money market accounts, and share certificates.

Lending Products: Auto loans for new and used vehicles plus lease buy-outs, personal loans up to $20,000, mortgage products under the "inMotion Mortgages" program, Credit Cruncher Loans for debt consolidation, and seasonal Holiday Loans with competitive rates.

Credit Cards: Motion Power Credit Card with various features and competitive rates.

Digital Banking Services: Free online banking and bill pay, mobile banking applications, free e-statements, 24/7 account access through phone and online channels, and access to over 71,000 surcharge-free ATMs nationwide.

Additional Services: Direct deposit and payroll deduction options, financial education through Credit Union Campus (CUC) seminars, and Motion Value Perks for members.

Question 6

What makes Motion Credit Union unique?

Accepted Answer

Motion Credit Union distinguishes itself through several notable characteristics that set it apart from other financial institutions:

Historic Legacy: As the oldest federally chartered credit union in New Jersey and the fourteenth oldest in the nation, Motion brings nearly a century of experience and institutional stability to its members.

Fortune 500 Partnerships: The credit union is trusted by major corporations including ExxonMobil, Phillips66, and DuPont to provide financial services to their employees, demonstrating its credibility and institutional relationships.

True Free Checking: Motion offers genuinely free checking accounts with only a one-penny minimum balance, no monthly maintenance fees, and unlimited check-writing—a rarity in today's banking environment.

Member Testimonials: Long-term members with relationships spanning 25 to 40 years consistently praise the credit union's personalized service, with staff knowing members by name and providing responsive, knowledgeable assistance.

Zero-Cost Employee Benefits: Businesses and organizations can partner with Motion as Select Employer Groups at no cost, providing valuable financial benefits to their employees while strengthening retention and satisfaction.

Community and Cooperative Focus: As a member-owned cooperative, profits are returned to members through lower loan rates, higher savings rates, and reduced fees rather than being distributed to external shareholders.

Question 7

What type of financial institution is Motion Credit Union?

Accepted Answer

Motion Credit Union is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA). As a federally chartered institution, it operates under federal regulations and maintains NCUA insurance coverage up to $250,000 per depositor through the National Credit Union Share Insurance Fund (NCUSIF).

The credit union operates as a not-for-profit financial cooperative where members are simultaneously owners and customers. Membership is based primarily on Select Employer Group (SEG) relationships, meaning eligibility requires employment with or affiliation to one of Motion's partner organizations, businesses, or municipalities, or being a family member of an existing member.

As a volunteer-directed institution, Motion's governance structure includes member-elected volunteer board members who oversee the credit union's operations and strategic direction. This cooperative structure ensures that the institution's primary focus remains on member benefit rather than profit maximization, distinguishing it from traditional for-profit banking institutions.

Motion Credit Union

in the United States 🇺🇸

Crypto-Friendliness

All done!

About Motion Credit Union in the United States