FAQs

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How does RCEFCU differ from a bank?

If I leave my employer, do I have to close my RCEFCU account?

Do I have a waiting period after joining RCEFCU before I can apply for a loan?

Who is eligible to join RCEFCU?

Where are you located?

Can you help me price a vehicle?

How does RCEFCU differ from a bank?

RCEFCU is a member-owned cooperative while a bank is a stock company.

The stockholders of a bank own the bank while a credit union’s depositors are the owners of the credit union. The board of directors of a credit union are unpaid volunteers and are elected by the membership. This ensures that members do have a say in credit union operations. The cooperative nature of credit unions is another reason why services generally cost less than at banks. For a more detailed analysis of the differences between banks and credit unions click here.

If I leave my employer, do I have to close my RCEFCU account?

No, RCEFCU prescribes to “once a member, always a member” policy.

This means if you leave your employer you may remain a member as long as you do not close your membership account. If you leave your employer and close your account, then you will likely lose your eligibility for RCEFCU membership. However, if your family members joined when eligible and still have membership, you would likely be able to re-join at a later date as a family member.

Do I have a waiting period after joining RCEFCU before I can apply for a loan?

No, length of membership is not a factor. In fact we encourage new members to apply at the time of joining.

RCEFCU makes its loan decisions based on a member’s credit history and ability to pay. Of course not all members are approved, especially those that have had recent credit problems. We do however pride ourselves on approving a higher percentage of applicants than the average credit grantor.

Who is eligible to join RCEFCU?

RCEFCU’s field of membership consists of any direct-hire individual employed by or retired from any of the following organizations:

City of Reno
City Of Sparks
Carson City
Washoe County
Washoe County School District
Storey County
Reno Housing Authority
Washoe County Airport Authority
Any state or local government industry in Carson City, Washoe or Storey County
Immediate family member of current member of credit union

To Become a Member

To join RCEFCU, simply complete a Membership Application and return it with a minimum deposit of $5.00 to complete the purchase of one credit union share.

These funds will be deposited to your Prime Share account (savings), to which you can make subsequent “share purchases” in any amount by cash, check or payroll deduction. A $5.00 minimum Prime Share account balance must be maintained at all times to retain membership at Reno City Employees FCU.

All money on deposit in your RCEFCU accounts earns dividends from the date it is deposited until the date it is withdrawn. Dividends are compounded daily and credited on a quarterly basis.

Under RCEFCU’s “once a member, always a member” policy, you and your family may retain membership in the credit union even if you leave any of the organizations within our field of membership as long as the minimum Prime Share account balance of $5.00 is maintained.

Control and Management

A credit union is a member-owned and member-controlled financial institution. Each member has an equal vote and the opportunity to serve as an official. Our 9-member Board of Directors, which is elected by the membership at the annual meeting, is responsible for establishing and revising policy, setting dividend and interest rates, and overseeing operations.

The Board is also responsible for appointing the Supervisory Committee, which not only assures the credit union’s adherence to governmental regulations and Board policies but also acts as ombudsman for member concerns. The Supervisory Committee audits the credit union’s records and works closely with RCEFCU’s Certified Public Accountants to conduct an annual audit of the credit union.

Where are you located?

386 Holcomb is one half block South of the intersection of Holcomb and Liberty.

Can you help me price a vehicle?

Click here for vehicle pricing

We provide links to other websites for your convenience. Please note that linked sites may have a privacy and security policy different from our own, and we cannot attest to the accuracy of the information provided.