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Who We Are
Your Energy People Federal Credit Union proudly serves active and retired employees of PSE&G, their families, and relatives with a wide array of financial services. As a credit union, Energy People is owned and governed by our 1,350 members. We were founded as a not-for-profit financial cooperative in 1960 by our original members who shared the common bond of employment in Public Service Electric and Gas (PSE&G) in Moorestown. The employees pooled their savings and lent money to each other at low interest rates. Our humble beginnings transformed to meet our growing customers’ needs; Energy People now services all PSE&G locations and boasts over $16 million in assets.
One constant throughout our 60-year history is the principle that Energy People is your credit union. You are not just a customer. When you join and open a "share" (savings) account, you literally become part-owner of our credit union. Our not-for-profit status ensures that any money made above the cost of operations is returned to the members. This can be through dividends to members, offering additional services with no fees, or even lower interest rates on loans.
New technology demands new services, and we have continually evolved over the years to meet members' changing needs. While other banking institutions are merging at a rapid pace to cut jobs and improve their bottom line, Energy People has no such pressures. We remain dedicated to ensuring a personal experience with the best customer service. We are proud of our extended phone service hours until 8:30 p.m. on weekdays and 7:00 p.m. to 8:30 p.m. on Sundays. We strive to provide same day loans to help you get your new purchase as fast as possible. Withdraws are available at your work location the next day. We even offer payroll deductions, so you never have to think about making your loan payments.
Board of Directors
| Title | Name |
|---|---|
| Chairman | John Cook |
| Vice Chair | Kenneth Kolwicz |
| Treasurer | Joseph Urban, Jr. |
| Secretary | Kelly Garron |
| Director | Robert Solomen |
| Director | David Hayes, Sr. |
| Director | James Costello |
| Director | William Melvin |
| Director | Rick Cassel |
| Director | Kelly Garron |
| Director | Eric Zahn |
| Director | Darryl Dorofy |
| Director | Walter Ruff |
| Director | Ken Fenimore |
| Director | Mackington Joseph |
Supervisory Committee
| Title | Name |
|---|---|
| Chairman | James Costello |
| Member | Joseph Henson |
| Member | Michael Wolfram |
| Member | Guy Ercol |
Staff
News
Make Sure Your Loan is Approved
Nobody likes getting turned down for a loan, and although the Energy People Federal Credit Union makes every effort to approve all loan requests, it's sometimes necessary to deny an application. When this happens, it's important to remember that Energy People is protecting the applicant's financial health as well as its own.
When Energy People denies a loan, it's because the applicant has either a poor credit history, or a high debt-to-income ratio. Your debt-to-income ratio is the percentage of your total debt compared to income. For example, if each month you pay $400.00 toward debt with $1,000.00 gross (before tax) monthly income, your debt-to-loan ratio is 40%.
Although there is no magic ratio to shoot for, a rough guideline is that total debt should not exceed 45% of total income. Energy People also weighs other factors and requirements vary for different loans. Often when a rate is high, the culprit is credit card debt. People forget that a credit card charge is a loan. With card companies sending out millions of solicitations each year, some consumers easily fall into the trap of spending up to their credit card limit on one card, and then acquiring another.
If your loan request gets rejected, here are a few things you can do to improve your chances for approval on your next application:
Devise a plan to pay off old loans including credit card balances thus reducing your debt-to-income ratio
You may qualify to consolidate your loans and credit card balances into one loan at Energy People Credit Union; then stop charging routine expenses
Avoid overusing credit cards and don't take every offer you receive
Get a handle on your budget by comparing what you spend with what you earn. A budget can help you trim expenses and funnel money toward paying off old debts
Fix your broken credit history. Here at Energy People Federal Credit Union, we will work with a member who is sincere about re-establishing good credit. This may involve such strategies as making a plan to gradually pay off debts extending a small signature loan to rebuild good credit standing or extending a loan guaranteed by a co-signer or collateral
Bolster your income with a second job - temporarily - to help trim your debt