An Important Message for the Members of First Jersey Credit Union
On February 28, 2018, the National Credit Union Administration (NCUA) closed First Jersey Credit Union (First Jersey) and entered into a “purchase and assumption” agreement with USAlliance Federal Credit Union (dba USALLIANCE Financial).
What does this mean for you?
First and foremost, your funds are safe. All deposit accounts you held at First Jersey are now at USALLIANCE and currently earning the same rate of interest as before. These funds continue to be insured to $250,000 by the NCUA.
You are now a member of USALLIANCE with same rights and privileges afforded to every single one of our members. You are part of a progressive and growing full-service financial cooperative, over 100,000 members strong. We would like to extend a warm welcome along with the assurance that we will make the transition as seamless as possible for you.
We have acquired the former First Jersey office and branch in Wayne, NJ, and it is open and continues to be staffed by the same familiar faces you have come to know. We will also have USALLIANCE staff on hand to help answer any questions and introduce you to the wide range of new and exciting products that will be available to you.
You will receive a statement of your former First Jersey accounts as of February 28, 2018. We encourage you to report any differences or errors to us using the contact instructions below. In addition, you may make claims for share insurance to NCUA as Liquidating Agent through August 31, 2019, at their address below. Failure to make claims before that date will act as a bar to such claims.
We understand that the suddenness of this action may cause some confusion and unnecessary stress. Undoubtedly you have many questions. We encourage you to talk to us. If you can’t come into the branch to meet with a USALLIANCE representative, you can contact us through email (firstname.lastname@example.org) or call our Member Services Department at 800-431-2754. Representatives are available Monday through Friday from 7:30am ET to 8:00pm ET and Saturday from 9:00am to 2:00pm.
To make a share insurance claim with NCUA as Liquidating Agent, contact:
National Credit Union Administration
Asset Management and Assistance Center
Liquidating Agent of First Jersey Credit Union
4807 Spicewood Springs Road, Suite 5100
Austin, Texas 78759