Question 1

What is Beehive Federal Credit Union?

Accepted Answer

Beehive Federal Credit Union (Beehive FCU) is a faith-based federal credit union headquartered in Rexburg, Idaho, serving members of The Church of Jesus Christ of Latter-day Saints. With over $624 million in assets and more than 33,000 members, Beehive FCU is the only financial institution headquartered in Rexburg.

The credit union emphasizes ethical practices, personalized customer service, and conservative banking principles. As a member-owned cooperative financial institution, Beehive FCU focuses on supporting the financial goals of its members through tailored banking services that align with faith-based values.

Question 2

When was Beehive Federal Credit Union founded?

Accepted Answer

Beehive Federal Credit Union was founded in 1960, originally as Ricks College Credit Union. The credit union was established on the campus of Ricks College (now Brigham Young University-Idaho) following encouragement from Mr. Jacobson, who served on the education committee of his own campus credit union at Brigham Young University in Provo, Utah.

The first board meeting was held on May 27, 1960, and the founding fathers included Eldred and several fellow college employees who worked with the Idaho Credit Union League director to establish the on-campus financial institution. The first loan made was for $100 to a faculty member, with early operations facing challenges related to funding availability.

The credit union later changed its name to Beehive Federal Credit Union to reflect its broader mission of serving members of The Church of Jesus Christ of Latter-day Saints beyond just the college community.

Question 3

Where is Beehive Federal Credit Union headquartered?

Accepted Answer

Beehive Federal Credit Union is headquartered at 1087 Erikson Drive in Rexburg, Idaho. The mailing address is PO Box 40, Rexburg, ID 83440.

Question 4

Where does Beehive Federal Credit Union operate?

Accepted Answer

Beehive Federal Credit Union operates multiple branch locations throughout eastern Idaho, including:
• Rexburg West (headquarters): 1087 Erikson Drive, Rexburg, ID 83440
• Rexburg Center Street: 65 S Center St, Rexburg, ID 83440 (opened June 8, 1994)
• Idaho Falls (Sunnyside): 1650 E Sunnyside Rd, Idaho Falls, ID 83404
• Rigby: 250 S State St, Rigby, ID 83442
• Additional locations in Meridian, Idaho

The credit union's membership is based on associational affiliation with The Church of Jesus Christ of Latter-day Saints. Members also have access to over 5,000 shared branch locations nationwide and ATM access through the CO-OP network, providing convenient banking services across the country.

Question 5

What services does Beehive Federal Credit Union offer?

Accepted Answer

Beehive Federal Credit Union provides a comprehensive range of financial products and services, including:

Deposit Accounts:
• Share Savings accounts
• Better Than Free Checking (consumer and student versions)
• Business Checking
• Missionary Savings accounts
• Bridal Registry accounts
• Dedicated Savings accounts
• Pocket Change accounts
• Money Market accounts
• Certificates of Deposit (CDs) with various terms

Lending Services:
• Mortgage loans and home financing
• Auto loans
• Personal loans
• Credit cards
• Lines of credit

Digital Banking:
• Online banking platform
• Mobile banking app (Beehive FCU Mobile) with features including mobile deposit, bill pay, account management, card controls, ATM/branch locator, and fund transfers
• 24-hour ATM access

Additional Services:
• Debit cards with fraud protection features
• Member discounts at local businesses
• Scholarship programs
• Business banking services

Question 6

What makes Beehive Federal Credit Union unique?

Accepted Answer

Faith-Based Mission: Beehive FCU exclusively serves members of The Church of Jesus Christ of Latter-day Saints, aligning its services with faith-based values and community principles.

Community Focus: As the only financial institution headquartered in Rexburg, Beehive FCU reinvests loans and resources directly into the local community, supporting local growth and development.

Conservative Banking Philosophy: With over 65 years of operation, the credit union emphasizes stability and conservative banking practices, planning for long-term sustainability.

Low-Fee Structure: The credit union maintains a simple, transparent fee structure with minimal fees, no charges for using any shared branch or CO-OP ATM nationwide (though other institutions may charge fees), and a focus on member financial success.

Special Purpose Accounts: Unique offerings include Missionary Savings accounts designed specifically for missionaries and Bridal Registry accounts, reflecting the credit union's understanding of its membership's unique financial needs.

International Community Involvement: Beehive FCU has participated in credit union development initiatives, including training and supporting credit unions in the Solomon Islands.

Question 7

What type of financial institution is Beehive Federal Credit Union?

Accepted Answer

Beehive Federal Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). The credit union holds Charter Number 13741 and operates under NCUA Region 3.

As a federal credit union, Beehive FCU is a not-for-profit cooperative financial institution owned by its members. The credit union maintains a "Well Capitalized" status with a net worth ratio of 8.54%, exceeding regulatory requirements for safety and soundness.

Membership is based on associational criteria, specifically affiliation with The Church of Jesus Christ of Latter-day Saints. 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.

Question 8

Who leads Beehive Federal Credit Union?

Accepted Answer

Beehive Federal Credit Union's executive leadership team includes:
• Craig Cobia: President/CEO
• Dan Owen: Chief Operating Officer (COO) and Vice President, who joined the credit union in 1983 and brought significant technological expertise to modernize operations
• Tim Kershaw: Chief Financial Officer (CFO) and Vice President

The credit union employs approximately 97 full-time staff members and 25 part-time employees, reflecting its growth from a small campus credit union to a substantial community financial institution serving over 33,000 members.

Beehive Federal Credit Union (Beehive FCU)

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