Established in 1941, Peninsula Federal Credit Union has grown from 231 members to over 11,000 members with assets in excess of $90 million.
Founded as an occupational credit union we began as the Escanaba Paper Company Employees Federal Credit Union. The name changed to Mead Associated Federal Credit Union in 1984 to more accurately reflect the name of our sponsor. In July 2000 the credit union changed from an occupational to a community charter. We are now able to offer membership to all persons living or working in Delta, Menominee or Schoolcraft counties. In line with the charter change, and to provide a broader representation of our membership base, the name also was changed to Peninsula Federal Credit Union. Although the credit union of today has significantly changed from that of 1941, the concept of member ownership and people helping people has not changed.
The Board of Directors, which is elected by and from the membership is responsible for establishing policies and guidelines. The daily operation of the credit union is handled in accordance with all state and federal regulations by our professional staff.
Our field of membership is limited to the following:
1. Persons who live, work, worship, or attend school in, or businesses and other legal entities located in Delta, Menominee, and Schoolcraft Counties, Michigan;
2. Members of record of this credit union as of July 5, 2000 date of conversion to a community field of membership;
3. Spouses of persons who died while within the field of membership of this credit union;
4. Employees of this credit union;
5. Volunteers in the community;
6. Members of the immediate family or household;
7. Organizations of such persons.
Once eligibility has been established, our basic membership requirement is to simply start your account with $5.00. That $5.00 must stay in your account for as long as you are a member. Once you become a member, you are a lifetime member.
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