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If you're a family member is an employee of the United States Postal Service, you may be eligible for membership in a Postal Service credit union. The United States Postal Service employs nearly 800,000 people across the United States. Furthermore, credit union industry analysts speculate that because of the large number of United States Postal Service employees, that as many as 10,000,000 to 15,000,000 people are eligible for membership in United States Postal Service credit unions.
How Postal Service Credit Unions are Organized
Postal Service credit unions are very similar to other types of credit unions in the fact that they service a specific group of potentially eligible members. Of course, all employees of the United States Postal Service are eligible for membership in a Postal Service credit union; however, besides the actual employee, most Postal Service credit unions also extend membership eligibility to immediate family members such as: a spouse, children, brothers or sisters, and parents of the Postal Service employee.
Furthermore, depending on the credit union rules in a specific locality or area, family members outside the immediate family may also be eligible for in membership. Therefore, you can see that in the United States Postal Service affects a very large number of Americans with regard to who is and who is not eligible for membership.
Why a Separate Postal Service Credit Union System
Because the United States Postal Service employs many people. It is only reasonable that a credit union system be developed specifically for this group. Generally speaking, there are many other credit unions that service much smaller employers or groups of people.
Types of Postal Service Credit Unions
There are many local area Postal Service credit unions that provide banking services for members based on the area that they live and work in. Furthermore, the United States Postal Service Federal Credit Union offers credit union membership to Postal Service employees and their family members that are not eligible for membership in other local postal credit unions.
Most of these credit unions provide services that are specifically geared towards United States Postal Service employees; furthermore, they often tailor specialty loans and financing products that can be easily paid from the wages of the Postal Service employee's salary. In fact, many of these credit unions offer a way for a portion of Postal Service employee’s salary or paycheck be directed to the bank to make monthly payment obligations. This is in addition to standard or normal direct deposit programs that offered by other credit unions and banks. In short, United States postal credit unions offer services for the millions of Americans that are in one way or another connected to the United States postal system.
