Being a Member Means Being an Owner.
How to Join? Joining 705 Federal Credit Union is an easy process. See how you or your employee group can join the credit union family. The details are below:
1) Be an Employee of one of the listed companies or have an immediate family who is a 705 member. Once a member, you can utilize all of our products and services.
2) Open A Savings Account! All Members Have a “Share” in the Company. To Be A Member You Must Keep $25 in Your Savings at the Credit Union.
3) Come Prepared. When You Are Ready to Open an Account, bring: $25 cash or check, a current driver’s license (or state issued I.D.), and your Payroll Stub.
Have Questions? Call 337-232-8450 Option 2 or email Emily!
Not Eligible to Become a Member of 705 FCU?
Consider Becoming a Select Employee Group!
If you are not eligible to join based on the list above your company could become one of our Select Employee Groups (SEG) or partner. A SEG Group is a business or organization that establishes a financial relationship with 705 Federal Credit Union.
Once an employee of a SEG Group becomes a member, their immediate family members are also eligible to become a member! Our credit union provides Select Employee Groups with various financial services (and financial education) to its employees as an added benefit. Are you interested in becoming a SEG Group?
- Check out the application (PDF -new window/tab) of becoming a SEG Group for the Employer and Employee.
- Here are the SEG Group Brochure (PDF – new window/tab) to establish Select Employee Group membership!
What are the Benefits?
The Benefits of Becoming a SEG Group! A SEG (Select Employee Group) is a business or organization that establishes a financial relationship with 705 Federal Credit Union. Our credit union provides Select Employee Groups with various financial services (and financial education) to its employees as an added benefit. Once an employee of a SEG Group becomes a member, their immediate family members are also eligible to become a member!
For the Employer
- Employee financial assistance—Money management training, financial advice, savings strategies, and financial services to your employees, at no cost to you.
- Free on-site financial workshops
- Free informational materials about upcoming events, loan promotions, and changes
- Free participation in employee benefit fairs, new employee orientation meetings, and company events upon your request.
- No hassle partnership— we do all the work!
For Your Employees Members
- Employees can save up to $200 a year compared to bank customers*
- Membership is open to immediate families of employees.
- Ownership in the credit union. As a not-for-profit financial institution, profits are returned to members in lower fees, interest rates and higher interest on savings accounts.
- Exclusive offers—Your employees will benefit from exclusive offers and discounts designed especially for them.
- Shared branching offers 129 free ATMs in Louisiana and 4,656 in the U.S. with 24-hour access to funds when using any ATM displaying this logo.
- Free Online banking with Bill Pay
- Use our Phone Banking service, which offers 24-hour, free account access by phone.
- Superior member service—our mission is to “meet members’ financial needs with quality and convenience!”
Still Want to Know More?
If you want more information feel free to contact Emily by email or phone at 337-232-8450.
- Steps of becoming a Select Employee Group and download this brochure for more information about SEG Group Benefits (PDF – new window/tab).
Steps to Become a Partner
Three Easy Steps Away from Becoming a SEG!
Thank you for making the decision to give your company the option of joining a credit union. You’re just three easy steps away from becoming a part of the 705 Federal Credit Union Family:
Steps to Become a Partner
Forming a Partnership!
Membership with Section 705 is limited. We would love to allow everyone who wanted to join access, but unfortunately this is not a possibility. Our credit union grows through the addition of groups with a common bond of employment called Select Employee Groups, or SEGs. Once this partnership is established, employees of these SEG can become members at 705 Federal Credit Union.
Becoming a SEG of 705 FCU is free and easy. Simply review the rerequirements below and complete the relevant Select Employee Group application:
- Write Request Letter stating your desire to become a Select Employee Group at 705 FCU.
- Here is a sample request letter. (A new PDF – window/tab will open.) You can use this exact wording in your own sample letter. Fill in the blanks with your company’s information. Then, mail, fax at 337-232-2786, or email to Emily DeRosia Beatmann. You may also upload the Request Letter and Application online.
- Next, complete the Select Employee Group Application. You can then mail, fax to 337-232-2786, email to Emily, or upload the application online.
If you have questions or would like additional information, contact us at 337-232-8450.
Once 705 Federal Credit Union has received the completed partner application, the process is simple and fairly quick. Your submission will be reviewed by the Board of Directors at its next scheduled meeting. Board meetings are normally held the third Wednesday of each month.
If the Board of Directors votes in favor of your application, your request will be sent to the National Credit Union Administration (NCUA) for approval. NCUA normally responds to requests within four to six weeks. Upon receiving a positive confirmation from the NCUA, we will notify you that your group is immediately eligible to become members of 705 Federal Credit Union.
If your company gets approval as a Select Employee Group, any employee of your company can join the credit union. Once your employee joins, their family members can join as well. You can bank anywhere, so why 705 Federal Credit Union? It’s because of the experience you have here:
- We are a not-for-profit financial cooperative owned by our members.
- The Credit Union Purpose: The purpose of credit unions is to provide financial dignity to all especially those of modest means. The credit union motto is “People Helping People.”
- We have a volunteer, unpaid Board of Directors that works very hard to keep our fees low, our rates competitive, and keep this credit union moving forward.
- Withholding our mission of “Meeting Members’ Financial Needs with Quality and Convenience” is of utmost importance to our staff and board.
- Member Owned: You own a share in the company! This gives you a distinct voice in how the credit union is run.
In other words, 705 FCU is different. We’re not a bank. We’re not a payday lender. We are a not-for-profit financial institution that has one focus, serving you the best we can.
Become a Partner
NOTICE: Although we happily provide secure on-line applications to protect your privacy, please remember that any e-mail that you send and receive to anyone at any time is not secure. This is true for all e-mail, not only on our website. You should refrain from sending your account number(s), credit card number(s) or other sensitive data to anyone in an e-mail format.
Just want more information? Send us a direct message and we’ll be happy to answer any questions!
Upload your application and request letter below