History and Mission
ABCO Federal Credit Union is a member-owned, not-for-profit full-service financial institution headquartered in Willingboro, New Jersey. With over 33,000 members and over $205,000,000.00 in assets, we are one of the largest credit unions in New Jersey.
ABCO FCU was founded in 1958 as the Burlington County Teachers Federal Credit Union. Our first "deposit" was $1.50 and we even had to borrow $52.00 to buy our bookkeeping books and a hand-cranked adding machine. Our first members had to come to our garage to make deposits and take out loans.
We have come a long way since 1958 and now serve members throughout the United States through our branch locations and our website. Our primary member base is concentrated in central and southern New Jersey and consists of employees of the following groups and organizations:
Boards of Education and teachers at colleges and universities in Atlantic, Burlington, Gloucester, and Cape May counties
Hospitals and Casino employees
Burlington County municipalities
County and state workers
Many private employers
ABCO Federal Credit Union is dedicated to helping members satisfy their financial needs and achieve their financial goals by serving as their primary financial institution and operating under these core principles:
We will strive to provide our members with a broad range of financial services and convenience, while maintaining a financially safe and sound organization
We will strive to promote thrift among our members and create for them an opportunity for accumulating their savings and offer them a source of low interest loans
We will provide the highest allowable level of service while striving to maintain financial soundness to safeguard members' deposits and allow this institution to be vibrant and competitive in the marketplace
We will place high importance on member education and the teaching of financial thrift
We will continue our asset and membership growth - both are essential to maintaining long-term visibility in an increasingly competitive marketplace
Credit Union Philosophy
Credit unions are people-oriented financial institutions. They are non-profit cooperatives, formed, owned and operated for a single purpose: to help members help one another financially.
The first credit union in the United States was established more than 100 years ago. From that day to this, the credit union philosophy has never varied from the basic principles of self-help and mutual aid.
The credit union exists not for profit, not for charity, but to serve the economic well-being of its members.