The Credit Union Difference

DIFFERENCE

THE CREDIT UNION

To meet our members needs for quality financial services and to provide those services in a professional, convenient and efficient manner while maintaining financial stability.

Not for profit, not for charity, but for service

Credit unions are not-for-profit financial cooperatives, owned by the people who save and borrow there. Every member has the right to vote on policies and for members of the credit union board. The majority of credit union boards are made up of volunteer members.

By current federal statute, credit unions cannot serve the general public. People qualify for a credit union membership through their employer, organizational affiliations like churches or social groups, or a community-chartered credit union.

Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in the form of lower loan rates, higher interest on deposits, and lower fees.

Horizons Federal Credit Union has its headquarters facility at 120 Main Street, Binghamton, NY, and branch offices at 519 Hooper Road, Endwell, NY, and 3701 Vestal Parkway East, Vestal, NY in Campus Plaza. It has over 11,000 members and $97 million in assets. Horizons FCU, formerly the U.S. Employees Federal Credit Union, was established in Binghamton in 1937 to allow postal employees to lend money to each other.

The name was changed to Horizons FCU in 1999 to better identify it with the community and the diverse group it served. In August 2000, Horizons FCU was granted a Community Charter, which allows any person who lives, works, worships or attends school in Broome County, NY, to join Horizons FCU.

Horizons FCU is committed to member and consumer financial education. Our intent is to teach people wise money management skills that they can use to improve their entire lives. We also aim to educate members and consumers alike about credit union uniqueness, philosophy and values.

A quarterly newsletter that includes information on financial topics is distributed to members and is also available to anyone who visits us or requests a copy. Additional information on a variety of financial and credit union subjects is available in the lobby of our headquarters and branch offices.

Horizons FCU also offers and/or participates in many programs that promote financial education and literacy, such as:

Kids Day (Every October)
Financial Planning Seminars
Lunch & Learns at Area Businesses
Participation in Local Trade Shows and Other Community Events

Credit unions exist to serve all members equally, with dignity, respect and consideration. We strive to serve everyone who needs financial services within our membership and to be sensitive to the individual needs of the various members we serve.

Horizons helps preserve credit union demographic principles, including demographic representation and volunteer participation in all credit union activities. We recognize the value of diversity in our staff and volunteers, and strive to bring people of diverse backgrounds and experiences into leadership and other roles at our credit union.

Horizons Federal Credit Union strives to be an active partner in our community by supporting worthwhile charitable and social causes. We believe that practicing good Corporate Citizenship supports the credit union philosophy of “People Helping People” and will help raise the overall level of social and economic well-being of those in our community.

Community organizations that have received financial or other in-kind support or sponsorship from Horizons FCU in the past year include:

American Heart Association
Community Hunger Outreach Warehouse (CHOW)
Children’s Miracle Network
American Cancer Society
Broome County Humane Society
United Way of Broome County
Boys & Girls Club of Binghamton
Catholic Charities of Broome County
Family Enrichment Network