Frequently Asked Questions

How Are We Different From A Bank?

Atlantic City Electric Company Employees Federal Credit Union is a unique, not-for-profit, member-owned financial institution. We are chartered by the federal government and regulated by the National Credit Union Administration (NCUA). Member deposits are federally insured by the National Credit Union Share Insurance Fund (NCUSIF).

Unlike banks that are driven to provide a profit for shareholders, your credit union returns excess earnings to our members. We do this by providing friendly and personal service, lower interest rates for loans, higher yields on savings, and by adding new financial products and services.

Atlantic City Electric Company Employees Federal Credit Union offers you an option. You can choose to eliminate high-interest and high fees from your life by choosing to join a credit union.

Who Manages The Credit Union?

We are governed by a member-elected Board of Directors, a Credit Committee, and a Supervisory Committee. Our members are joined together by a common bond, and we can only serve our members. With the exception of the staff, all who work for your credit union are volunteers.

Board of Directors
Your Board of Directors is responsible for maintaining the general direction and control of your Credit Union. To ensure sound financial conditions, it establishes programs, writes policies, and appoints committees to fulfill various functions.

In addition, the Board sets dividend rates and interest refunds and interest rates on loans. Further, the Board oversees the borrowing and investment of funds needed to transact the business of your Credit Union.

Credit Committee
The Credit Committee has the final say on individual loan applications, guided by regulations and policies of the U. S. government and the Board of Directors.

Supervisory Committee
The Supervisory Committee protects the financial welfare of our members by examining the Credit Union's books and records. It oversees an annual audit and reports, as required, to the Board and regulatory agencies.

Who Do You Serve?

Atlantic City Electric Company Employees Federal Credit Union has served the employees of Atlantic City Electric Company since it was founded in 1940, and it now also serves the employees of 11 Common Bond companies. Our membership is over 4,000 members.

Who Is Eligible To Join?

If you are an employee of The Atlantic City Electric Company, an employee of any of the common bond companies in our Field Of Membership, or a family member of an Atlantic City Electric Company Employees Federal Credit Union member, you can join.

Joining is easy. If you are eligible, just open a Share Savings Account which represents your "share" in the credit union. Your $5.00 deposit in this account begins your lifetime of credit union benefits.

Your membership is for life. Whether you move, change jobs, retire, or marry, you are still a member with access to all membership benefits and services. And as a member, you can invite your relatives by birth or marriage, or members of your household who share expenses, to join.

If you move or change your lifestyle, be sure to visit your credit union to ensure that you continue to enjoy your credit union's money-saving advantages.

How do I Wire Funds to my CU Account?

Come to the Credit Union when you need to receive or send money through a wire transfer.  Please use these wiring instructions.

Wire to:

Vizo Financial Corporate CU, ABA #231387550, Address:  7900 Triad Center Dr, Greensboro, NC 27409

Further Credit to: Atlantic City Electric Company Employees Federal Credit Union, Account #23127742410100

For Final Credit to:  Your Name, account number (*) and designated suffix (savings or share draft).

If you have any questions about your account number, please call the Credit Union.  It would help us if you would let us know that you are expecting an incoming transfer.

What information do I give a car dealer when financing my car with the Credit Union?

Please note that you will need to give the following information to the card dealer or State of NJ Rep at your State’s Division of Motor Vehicles:

  • The Credit Union MUST be listed as “First Lienholder” on the original certificate of title.
  • The correct name and address to use for the Credit Union is Atlantic City Electric Company Employees Federal Credit Union, PO Box 368, Mays Landing, NJ 08330
  • The Corporate Code for NJ Titles is:  001 135 304 08330 0

Please note that motor vehicle fees incurred are at your expense.  It is your repsonsibility as the borrower, to have all the correct information listed on the title.  Failure to do so will result in having the title corrected by you and at your expense.

Don’t hesitate to reach out to a Credit Union representative with further questions.