What is the difference between a Bank and a Credit Union?
There are many differences between a bank and a credit union.  Click Here for a good article.

How can I join Oxford Federal Credit Union?
If you live, work, worship, or attend school in Oxford County, Maine, then you are eligible for membership at Oxford Federal Credit Union.   Open a Share Account with a minimum of  $5.00 and proper identification. (Driver's license, passport, state ID, etc.)  After opening a Share Account, you become eligible to take advantage of all our other products and services. You can use all of our many services offered to members only, or apply for any one of the various loans we offer.

What are the Hours of Oxford Federal Credit Union?
Oxford Federal Credit Union has flexible hours to fit your schedule.  Click Here for current locations and hours. 

Are members able to conduct business on Saturdays?
The Norway Branch of OFCU, located at 54 Fair Street in Norway, is opened on Saturdays from 8:30 AM to 12:00 PM.  

Our Mexico office is not open on Saturdays. Members in the River Valley area can take advantage of extended hours Monday through Friday, making it possible to conduct business earlier or later in the day instead of on the weekend.  Oxford Federal Credit Union also offers a wide range of electronic services that all members can take advantage of that are available around the clock  when the credit union offices are closed. Online banking, bill payer, ATM and on-line loan applications are just a few of these services. Contact a Financial Service Representative if you need help to begin taking advantage of these services.

How do I sign up for Home Banking?
CU Anywhere is Oxford Federal Credit Union's internet based home banking product. This product allows you to view your share and loan balance and histories, transfer funds, make loan payments and download account information to Quicken, Microsoft Money and other financial software packages. Click Here to fill out Application..

How do I have my weekly or monthly payments automatically deducted from my OFCU account?
1. Contact your payroll Department at your place of employment and complete their Direct Deposit form.
2. Stop in and see a lender to sign your Auto Pay form. Payments begin that same week or month.

Why should I join a Credit Union?
There are several reasons why anyone should use a credit union: 1) You will often save money; 2) You will often enjoy better, more personalized service; 3) By joining a credit union, you become a part-owner, not only with an interest in how the business is run, but with a bigger voice in how the credit union will evolve in the future; 4) Credit union staff constantly look for ways to make the credit union stronger and better, because they are all members of your credit union too.

What is a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.

Who owns a credit union?
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

How did credit unions start?
The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary's Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.

What is the purpose of a credit union?
The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.

Are savings deposits insured?
Yes. All share accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government. With Excess Share Insurance, free to our members, your shares are insured for an additional $250,000.

Who can join a credit union?
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group. OFCU serves those who live, work, worship, or attend school in Oxford County, Maine.

How does the Teller-Phone system work?
With Teller-Phone, you can call from any phone and access certain information about your accounts by following the audio prompts.  Give us a call at 369-9976, or 1-800-991-9219, and we'd be glad to help you get started.

Related Pages:
About OFCU
Board of Directors
What is a Credit Union?
Our Mission
Our History
Membership

Mexico Office:
225 River Road
PO BOX 252
Mexico, Maine 04257
Phone: 207.369.9976
Fax: 207.364.8962

Norway Office:
54 Fair Street
Norway, Maine 04268
Phone: 207.743.2638
Fax: 207.743.7138

Email: oxford@ofcu.org
Toll-free: 800.991.9219