Panduit Employees Credit Union
Who is eligible to join?
Panduit Employees and their family members. (Spouses, children, parents, grandparents, sisters, brothers, etc.)
How much does it cost to join?
There is no fee to join the credit union, however there is a minimum balance requirement of $25.00 to open the account. This amount is the minimum balance and must be maintained at all times.
How do I join?
Visit the Tinley Park office or contact your division representative if at a facility other than Tinley Park. We will walk you through an account agreement. Please be sure to have your drivers license and employee badge with you. Once we have your completed account agreement and have received an initial deposit of at least $25.00, via cash, check, or payroll deduction, your account will be opened. Your account number with us is based on your Panduit Corp. employee number so that it is easy to remember.
How do I make deposits?
Deposits can be made through automatic withdrawal from Panduit payroll. Deposits can also be made at the Tinley Park credit union office, through your division representative, or through the mail.
How do I make withdrawals?
Withdrawals can be made either in person, at the Tinley Park office, or through your division representative. Please keep in mind that a properly completed withdrawal ticket must be presented in order for the withdrawal to be processed.
Do I have to close my account if I leave Panduit?
No, not at all! As long as a balance of at least $25.00 is maintained, you can keep your account open and continue to take advantage of all our services. Once a member, always a member.
Is my money safe?
Yes! Your share savings balances are federally insured to at least $250,000.00 and backed by the full faith and credit of the United States Government.
Is the credit union a division of Panduit?
No, the credit union is not a division of Panduit. We are an entirely separate financial institution governed by the laws of the State of Illinois.
What is a Credit Union?
A credit union is a non-profit financial cooperative owned and operated by its members. The members pool their financial assets (deposits) to provide themselves with funds for loans and for a wide variety of other financial services. The most important difference between credit unions
and other financial institutions is that credit unions are non-profit institutions. Excess income is given back to the members in the form of higher dividend rates on share savings accounts and lower interest rates on loans. In addition, fees and charges that other financial institutions may
charge for services are usually the exception at credit unions rather than the rule.