Mission Statement
Better banking, better solutions
Vision Statement
Building valued relationships through a lifetime of financial solutions.
What is a Credit Union?
Credit Unions are not for profit financial institutions that originated in Germany in the mid-1800s. A group of farmers, who found they could not borrow from their bank, combined their money to buy supplies. This created a common pool for townspeople to borrow from, where loans were readily available and rates were lower than the banks.
Similarly, today's credit unions are member owned and operated. Credit Unions are not for profit, so excess earnings are returned to the members in the form of high dividend on savings and investment accounts, lower rates on loans, and low or no cost products and services.
A Brief History of PFCU
Palisades Federal Credit Union started out as the Lederle Employees Federal Credit Union. Lederle EFCU was originally charted in 1941, by a small group of employees of the American Cyanamid Company. They were dedicated to building a financial institution that would provide outstanding financial services at the lowest possible cost.
Over the ensuing years Lederle Employees Federal Credit Union grew to include the immediate family members of existing members and took on newer products and services. In 1996 LEFCU changed its name to Palisades FCU and PFCU began to acquire new Select Employee Groups into its field of membership.
In June of 2002 we became the first federal community chartered credit union in Rockland County to serve all persons who live, work, worship, or attend school in Rockland County, New York.
Project Differentiation
Project Differentiation was conceived by the credit union movement to help further identify what makes a credit union a unique financial institution. More specifically, it helps interested individuals to easily identify the many ways PFCU contributes to the Rockland County community.
View PFCU's Project Differentiation document.
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