Question 1

What is CityMark Federal Credit Union (CityMark FCU)?

Accepted Answer

CityMark Federal Credit Union is a not-for-profit, member-owned financial institution serving the Wilkes-Barre and Plains areas of Pennsylvania. With approximately $138 million in assets and over 7,700 members, CityMark FCU operates as a community credit union. The credit union focuses on returning excess earnings to members through competitive loan rates, higher dividend rates, and continuously expanding products and services.

As a federally chartered credit union, CityMark FCU is regulated by the National Credit Union Administration (NCUA) and maintains well-capitalized status with a net worth ratio of 16.6%. The institution has demonstrated strong growth, with a 27% increase in membership over the past year.

Question 2

When was CityMark Federal Credit Union (CityMark FCU) founded?

Accepted Answer

CityMark Federal Credit Union was founded in 1960. The credit union was established to serve its members with a cooperative financial model that prioritizes member benefit over profit maximization.

For over six decades, CityMark FCU has evolved from its original purpose to become a community-focused financial institution serving the greater Wilkes-Barre region. The credit union has maintained its commitment to the cooperative principles of member ownership and democratic governance.

Question 3

Where is CityMark Federal Credit Union (CityMark FCU) headquartered?

Accepted Answer

CityMark Federal Credit Union is headquartered at 225 S River Street in Plains, Pennsylvania 18705.

Question 4

Where does CityMark Federal Credit Union (CityMark FCU) operate?

Accepted Answer

CityMark Federal Credit Union operates primarily in the Wilkes-Barre and Plains areas of northeastern Pennsylvania. As a community credit union, membership is available to individuals who live, work, worship, or attend school within the credit union's designated community charter area.

The credit union also has a presence at 40 E Market Street in Wilkes-Barre, providing convenient access to members throughout Luzerne County and the surrounding region.

Question 5

What services does CityMark Federal Credit Union (CityMark FCU) offer?

Accepted Answer

CityMark Federal Credit Union offers a comprehensive range of financial products and services, including:

Deposit Accounts: Share accounts (savings), reward checking accounts, and share certificates with competitive rates.

Lending Products: Auto loans, motorcycle and RV loans, home equity lines of credit (HELOCs), credit cards, and personal loans with competitive rates designed to benefit members.

Digital Banking: The MoneyBee Mobile app provides 24/7 account access with features including balance inquiries, transaction history, internal transfers, remote deposit capture, free bill pay, eStatements and eDocuments enrollment, and text banking. The app supports biometric authentication through facial recognition and fingerprint scanning for secure access.

Personal Finance Tools: Money Desktop integration for comprehensive personal finance management, customizable eAlerts via text or email, and account monitoring tools.

Additional Services: Online banking platform, text banking services, and member support accessible through multiple channels.

Question 6

What makes CityMark Federal Credit Union (CityMark FCU) unique?

Accepted Answer

CityMark Federal Credit Union distinguishes itself through several key characteristics:

Member-First Philosophy: Unlike profit-driven banks, CityMark FCU returns excess earnings directly to members through competitive loan rates, increased dividend rates, and expanded services. This cooperative structure ensures that members benefit from the credit union's success.

Strong Financial Performance: The credit union has demonstrated impressive growth with a 20% increase in assets and deposits over the past year, while maintaining well-capitalized status. The return on average assets of 2.52% reflects sound financial management.

Community Focus: As a community credit union with membership available to anyone who lives, works, worships, or attends school in the service area, CityMark FCU emphasizes accessibility and local community engagement.

Digital Innovation: The MoneyBee Mobile app provides comprehensive mobile banking capabilities with modern features like biometric authentication, remote deposit, and integrated personal finance management tools, making banking convenient and accessible.

Personalized Service: With approximately 23 employees serving over 7,700 members, CityMark FCU maintains a member-to-staff ratio that enables personalized attention and relationship-based banking.

Question 7

What type of financial institution is CityMark Federal Credit Union (CityMark FCU)?

Accepted Answer

CityMark Federal Credit Union is a Federal Credit Union chartered under federal law and regulated by the National Credit Union Administration (NCUA). The institution holds Charter Number 14074 and operates within NCUA Region 1.

As a federally chartered credit union, CityMark FCU operates under the cooperative financial structure where members are both owners and customers. Each member has equal voting rights regardless of account balance, embodying the democratic "one member, one vote" principle.

The credit union operates as a community credit union, meaning membership is available based on geographic criteria rather than employment or associational bonds. Anyone who lives, works, worships, or attends school within CityMark FCU's designated community charter area is eligible for membership.

CityMark FCU maintains a low-income designation, reflecting its commitment to serving underserved communities. All deposits are federally insured by the NCUA up to $250,000 per depositor, providing the same level of protection as FDIC insurance at banks.

CityMark Federal Credit Union (CityMark FCU)

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About CityMark Federal Credit Union (CityMark FCU) in the United States