MEMBERSHIP

We welcome you to the Eastmill Federal Credit Union family. As a member of this Credit Union, you will see that you are a part of a movement that is of historical significance, because it has empowered people to help and serve one another. This force emerged in Germany during the 1800's and found fertile ground in Northern America in 1900. In 1908, the first legally chartered cooperative Credit Union Society was established in Manchester, New Hampshire. This Credit Union, St. Mary's, is still open today.

Credit Unions differ from other financial institutions in that they are cooperative associations organized to serve members with a common bond of employment, association, or residence. Another characteristic that sets them apart is volunteerism. The founders of the movement believed that the organization and operation of Credit Unions should be accomplished chiefly by volunteers.

Not-for-profit institutions, Credit Unions are unique in the financial world. Members own and direct their Credit Union; these members are dedicated to the Credit Union's motto "Not for charity, not for profit, but for service." This is the key difference between a Credit Union and other financial institutions.

Credit Unions are chartered by groups of people having a common bond. The field of membership for Eastmill Federal Credit Union includes those individuals who reside, work or worship in Penobscot County, Katahdin Paper Company in East Millinocket; Also included in our field of membership are those who reside, work, worship or attend school in Sherman, Stacyville, Patten, and Island Falls and all relatives of these common bond groups, regardless of place of residence. As well as individuals, the Credit Union also serves businesses and organizations within our field of membership.

Family membership is encouraged at your Credit Union. As a member of Eastmill Federal Credit Union, your whole family is eligible to join, including parents, children, husband, wife, brothers, sisters and all relatives regardless of place of residence. Credit Union membership is a life long option; Our motto is "Once a member, always a member."

Membership is obtained by completing a membership card and making an initial deposit of $25.00 to a Share Account.

Various forms of Share Accounts are available through the Credit Union. Contact your Credit Union regarding the type you wish to designate.

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