Business Details
50+ Years
experience
Your Trusted Financial Partner in Newark, NJ
Public Service Plaza Federal Credit Union has served the financial needs of Newark, NJ residents for over 60 years. Founded in 1954, we specialize in providing accessible savings accounts, certificate of deposit programs, and diverse loan options including auto financing, personal loans, and co-signed agreements. Our institution maintains strict compliance with NCUA regulations while offering competitive dividend rates and flexible membership eligibility tied to Public Service Enterprise Group employment.Through personalized service and transparent financial practices, we empower members to achieve their financial goals with confidence. Our commitment to privacy and security ensures member information remains protected through comprehensive physical and digital safeguards. With walk-in appointments available and experienced loan officers ready to assist, we continue building trust through decades of community-focused banking expertise.
Services
Auto Loans
Personal Loans
Savings Accounts
Certificate of Deposit
Loan Applications
Details
- Year established: 1954
Highlights and features
- We offer over 60 years of community banking expertise
- Our NCUA membership ensures regulatory compliance and security
- Personalized loan options for various credit profiles
- Competitive dividend rates on savings and CDs
- Walk-in appointments available for immediate assistance
Associations and certifications
- NCUA
Services
Auto Loans
We provide new and used auto loan options with competitive rates. New vehicle loans available for 3-6 years at 3.50-5.00% APR. Used car financing offers 3-5 year terms at 5.50% APR. Our loan officers help determine optimal financing solutions based on individual credit profiles.
Personal Loans
Flexible personal loan options up to $15,000 with terms from 6 months to 4 years. Available at 6.00-11.00% APR depending on term length. Cosigned loans available for 3 years at 15.00% APR. No credit check options up to $2,000 also available.
Savings Accounts
We offer accessible savings solutions with tiered dividend rates. Accounts earn 0.75% APR for balances $100-$99,999 and 1.00% for $100,000+. Minimum $5 opening deposit required. Dividends compound semi-annually with competitive APY based on average daily balance.
Certificate of Deposit
Secure certificate of deposit options with fixed rates. 6-month CDs offer 4.0% and 1-year terms provide 3.75% returns. Minimum $1,000 investment required. Our CD products provide predictable growth for short-term savings goals.
Loan Applications
Streamlined loan application process with $15 processing fee. Required documentation includes completed forms, two pay stubs, and additional income verification. We maintain 10% loan amount reserves in shares accounts while auto loans require 1% reserves.
Questions
What are the membership requirements?
Membership requires employment with Public Service Enterprise Group or immediate family relationship to an employee. Once joined, membership remains active regardless of employment status.
What loan types do you offer?
We provide auto loans (new/used), personal loans (6 months-4 years), co-signed loans, and no-credit-check 'Anytime Loans' up to $2,000 with various term options.
What are current CD rates?
Our certificate rates include 4.0% for 6-month terms and 3.75% for 1-year CDs with $1,000 minimum investments required for account opening.
How do savings account dividends work?
Savings accounts earn 0.75% APR for balances under $100,000 and 1.00% for larger amounts. Dividends compound semi-annually with minimum $101 average daily balance required for earnings.
What are your business hours?
Cashier services available Tuesday, Wednesday, and Friday 8:00 AM-12:00 PM. Loan interviews offered same days 10:00 AM-12:00 PM with walk-in appointments accepted.
