Membership

WHAT YOU’LL NEED

For yourself and any joint account owners.

Valid Identification (Drivers’s License, State or Government Issuesd ID, US Passport, or Permanent Resident Card).

Social Security Number

$5 Deposit (Funded with a debit or credit card or transfer from another financial institution)

Patriot Act Notice

Important information about procedures for opening a new account.

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask for your driver’s license or other identifying documents.

Membership in the Credit Union is open to Sigmas, Zetas, their families, the Fraternity, the Sorority, and their Regions and Chapters.

Membership Application – Online

A $35.00 minimum amount is required to open a share account, of which $5.00 pays the application fee and $25.00 purchases 5 shares at $5.00 each, deposited into the account and $5 pays the service fee.
There is no limit to the number of shares that a member may purchase.
A periodic dividend will be paid to members based upon the number of shares on deposit and the Credit Union’s earnings.
Submit the online application for membership, which will include submitting your current picture ID in the form of a current drivers license, Passport or other government issued picture ID and your initial deposit.
If you have any questions, please contact applications@pbsfcu.org .
Contact PBSFCU by phone (M – TH, 5:30pm – 7:30pm @ 202-726-2285).

A Smart Investment

A share at Phi Beta Sigma Federal Credit Union is a flexible investment serving a variety of needs.

Every dollar deposited is put to work to earn profit for the depositor. Most are invested in preferably short-term investments with high yields, and some are reinvested in loans to other PBSFCU members.

Each $5.00 constitutes a share in the ownership of the PBSFCU organization. Opening a share account automatically enables the member to apply for loans, participate in various PBSFCU activities, vote at the Annual Meeting, and be nominated to the Board of Directors or for other committee or volunteer staff work.

Each member of PBSFCU is an owner, and not just a customer. Members earn ownership dividends on their deposits-dividends that can grow from year to year, depending on organizational earnings. After Operating expenses are deducted and the necessary reserves are set aside according to the National Credit Union Administration standards, the remaining profit is distributed to the membership in dividends or is used to provide other benefits.

All PBSFCU accounts are currently federally insured up to $250,000 per depositor by the National Credit Union Administration (NCUA). This insurance provides protection on member accounts much like banks have for their accounts.