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What Is A Credit Union?

How Safe Are Credit Unions?

How Will Your Company Benefit?

How Will Your Employees Benefit?

Who Is The Dover-Phila Federal Credit Union?

The Benefits of Direct Deposit/Payroll Deduction


  • People With A Common Bond
  • Concept Founded in 1800's
  • People Helping People

Credit Unions are a "not-for-profit" cooperative association which offers a variety of personal financial services exclusively to their members. People who join a Credit Union do so because of a "common bond", such as where they live, work, worship or attend school.

Credit Unions are not a new concept. Their origin goes back to mid-19th century Europe. In the early 1900's, the Credit Union concept of "people helping people" was introduced to the United States.

Unlike other types of financial institutions that must generate a profit for stockholders, Credit Unions are member-owned, not-for-profit cooperative financial organizations. As such, excess earnings are returned to the members, primarily in the form of:

  • Competitive dividend rates paid on savings and investment accounts.
  • Competitive interest rates on loans.
  • The addition of new products and services.

Products and services may have changed over the years to take advantage of today's technology - but the basic Credit Union philosophy of "people helping people" has not changed.

  • Financially Sound
  • Federally Insured
  • Managed By Membership
  • Represents Safest Place For Your Money

The financial problems facing the banking and savings and loan industries are well documented. Media reports about the pressures on their deposit insurance have become well known.

At the same time, Credit Unions have grown in financial strength. Our insurance fund, the NCUSIF (National Credit Union Share Insurance Fund) is sound and is one of the strongest of all the federal deposit insurance funds. Established by Congress in 1970, this fund is managed by the NCUA (National Credit Union Administration) and insures member deposits for up to $100,000.

Additionally, a Credit Union's Board of Directors is comprised of non-paid volunteers, elected by and from the membership on an annual basis. Their decisions are not influenced by either personal gain or generating a profit for stockholders; but they are motivated by what is best for the total membership.

Also, volunteers serve on the Supervisory Committee, which is responsible for the examination of financial records and the verification of accounts.

Approximately over 250,000 Credit Union members in the U.S. devote their time, expertise and efforts to manage and protect the financial stability of the Credit Union concept. This non-paid volunteer leadership represents the most significant difference between Credit Unions and other financial institutions Credit Unions... The Logical Choice.

Clearly, if you are concerned about the safety and availability of your money, Credit Unions represent the most logical choice as a source to satisfy your individual financial needs. No one has ever lost a penny placed in the trust of a federally insured Credit Union!

  • Valuable Employment Benefit
  • Attract And Retain Quality Employees
  • No Cost To Your Company Or Employees

As an employer, one of the greatest challenges is to attract and retain qualified employees. By incorporating Credit Union membership as an additional employment benefit, you will gain a far reaching employment advantage.

As a member of Dover-Phila Federal Credit Union, your employees will have the opportunity to satisfy their personal financial needs with a financially sound organization. This peace of mind will have a positive effect on morale and productivity. It will make your employees feel good about their employer, who made this opportunity possible.

In addition, family members of your employees will also be eligible to join, making this a far reaching employment benefit.

The dividends we pay on savings and investment accounts, and the interest we charge for loans, are normally more attractive than what is offered by other local financial institutions. As a result, your employees will realize increased purchasing power from what you already pay them.

Based on the products and services we offer, hours of operation, and the other methods of conducting business, membership in Dover-Phila Federal Credit Union can also be time-saving and convenient for your employees.

Additionally, utilizing our payroll deduction and/or direct deposit service could reduce your cost of payroll processing, and help your employees more effectively manage their personal financial affairs.

All of this, plus more, is available to your company by becoming a Select Employee Group (SEG) of Dover-Phila Federal Credit Union, at no cost to either you or your employees!

  • Valuable Family Benefit
  • Increased Purchasing Power
  • Dealing With People Who Care
  • Full Service Financial Products

Credit Union membership is one of the few work related benefits that reaches into the home. Because relatives by blood or marriage of your employees may also join, they can share in the many benefits of membership -- at no cost to you or them!

Aside from the extended purchasing power of their paycheck, brought about by our competitive interest rate structure, we offer many other cost-saving products and services; most of them at no cost at all. For example, we can help members obtain the best possible price for a new car by pre-approving their financing and by helping them determine the true trade in value of their present vehicle.

When one of your employees becomes a member of Dover-Phila Federal Credit Union they in fact become a part-owner. As part-owner, they will have the opportunity to attend our Annual Meeting and vote to elect Board members. They may also, if they choose, run for those elected positions. Most of all, the greatest benefit they will realize is the opportunity to deal with a financial institution that cares about and responds to their individual financial needs. We clearly recognize the value of membership and always respond to our members in a personal, professional and courteous manner.

With Dover-Phila Federal Credit Union your employees will have access to all of the financial products and services they need to attain their personal goal of financial security.

  • Founded in 1953
  • Over 28,000 Members
  • Full Service Financial Cooperative
  • Member Owned

Founded in 1953, our original charter was to service the financial needs of Warner and Swasey employees. In 1977 the name was changed to Gradall Employees Federal Credit Union. Then in December 1983 the Credit Union obtained a community charter and became Dover-Phila Federal Credit Union. Most recently our charter was again expanded to include all people living, working attending church or school in Tuscarawas County.

We currently have a membership that exceeds 28,000 and assets over $160 million dollars.

Because we are a not-for-profit financial organization, our success is measured by the level of member satisfaction, not just the bottom line. While attempting to satisfy the needs of an individual member, we never lose sight of the commitment we have to all of our members -- to protect the financial integrity of their Credit Union.

As a federally insured Credit Union, we are audited on an annual basis. We are proud of the fact that we consistently receive the highest rating given and represent the type of institution that our members are proud to be associated with.

We constantly strive to improve both the quantity and quality of products and services available. Although we have grown over the years, we have never lost sight of our primary purpose to deliver financial products in a prompt, professional and courteous manner.

We look forward to your company and employees becoming a part of our growing Credit Union family, and realizing the many benefits associated with membership in the Dover-Phila Federal Credit Union.

  • Can reduce payroll processing costs
  • Helps employees manage their money
  • Safe

We encourage local businesses to make Direct Deposit or Payroll Deduction available to their employees so that they can begin to realize their financial goals.

The Dover-Phila Federal Credit Union is set up to accept electronic transfer of funds. Utilizing this service could save your company money associated with payroll processing. If you prefer you may send us a physical check for the total amount of your employees' deposits and then we will make the appropriate deposit(s) to the individual accounts.

With Direct Deposit you eliminate the need to replace lost checks and the associated hassle.

Because employees' money is automatically in their account on pay day it will give them peace of mind, decrease the number of times they have to wait in long lines during their lunch time, and can assure that loan payments are made in a timely manner.

This service encourages employee saving and can help them more effectively manage their personal finances.

The Dover-Phila Federal Credit Union will work with you to set up Direct Deposit or Payroll Deduction. Once this program is in place we are confident that you will appreciate the value this service offers both to you and your employees.