This is where your membership starts. With your initial $5 deposit, you become a member of PEF where it pays to belong. Your Share Savings account earns interest daily, which is paid and compounded quarterly. Want to know how your account is affected by Regulation D?
To begin utilizing any of our products or services you must first open a Share Savings account with a $5.00 deposit. This deposit guarantees your right to be a member-owner of PEF, a full-service financial cooperative since 1957. PEF products and services are available to everyone who lives, works, worships or attends school in Eastern Cuyahoga County. Membership is also extended to anyone who is related to a current PEF member (parent, grandparent, spouse, child, brother or sister).
Your funds are insured! The savings shares in your credit union are insured by the National Credit Union Administration.
Opening a New Account
Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. You must provide the following information:
- Name, address, date of birth, and other information that will allow us to identify you.
- Valid social security number card.
- Current driver's license or other identifying documents with a valid photo. (If address on the picture identification is not current then you will need to provide us with a piece of mail that shows your current address such as an utility bill, credit card bill or bank statement).
So come experience a new way of banking at PEF Federal Credit Union. Our staff is ready to assist you with all your financial needs!