Keesler Federal Credit Union (also referred to as Keesler FCU) was founded in 1947 and claims to be Missisipi’s largest credit union with over $1.8 billion in assets. It serves over 193,000 members worldwide, and here is its introduction:
Introduction to Keesler Federal Credit Union
How does Keesler Federal Credit Union work?
Keesler works like a typical credit union. Members who deposit money in it become owners and Keesler rewards them by paying high dividends and with low rates of interest on loans. It works for the benefits of its members. This is unlike a bank where the motive is to make profits and build reserves.
People can become members at Keesler with a “share” account, which is the basic credit union savings account. All account holders have to do is maintain a minimum balance of $5 in their accounts to be eligible for Keesler’s member benefits.
The eligibility for membership at Keesler is restricted though. A person can get membership only if:
(i) They live, work, worship or attend school in Pearl River, Harrison or Hancock Counties and select areas in Jackson County, Missisipi.
(ii) They or anyone in their family work or belong to Keesler’s Select Employee Groups which are located on the Mississippi Gulf Coast.
(iii) They or anyone in their family works at Keesler AFB or United Kingdom Royal AFBs.
Keesler offers three types of checking accounts:
- Free4all which is free;
- EAdvantage checking accounts for eService users who want to earn higher dividends; and
- the Ultimate, which is a dividend earning account with extra benefits. It offers five types of savings accounts, and a choice of investments. Each checking, savings and investment account carries different interest rates. Keesler’s Loans Keesler offers many types of loans – auto, real estate, loans secured on shares, unsecured loans, credit cards, and students’ loans. Keesler's loan rates are very low, which is the hallmark of Keesler’s loan products. Safety Funds deposited at Keesler are insured by National Credit Union Administration (NCUA) for up to $250,000 per deposit.A higher amount can be covered in special circumstances. Reaching out to future generations Keesler has started educating local students about being financially responsible by opening a branch in Biloxi High School, which is quite aptly called Biloxi Indian Credit Union. This is the first credit union in Mississippi and it helps students understand finance and save money for a bright future.
The flavour of Keesler
Keesler is ingrained in the minds of folks living in South Mississippi because it is a local type of credit union, though membership is open to people working in selected companies.Its interest rates on loans are low, and it has managed to bond with its members.