The main thing about credit unions is that all members are there for one purpose: help people and get help in return. Credit unions offers a range of financial products like other financial institutions, but the big difference is that credit unions are owned by the members themselves, and therefore non-profit and cooperative.

 

ESL Credit Union belongs to this group of financial institutions with a heart. It is one of the largest and most successful full-service financial institutions and is estimated to have nearly 2.5 billion in assets and serves 225, 000 members globally through the Internet, through the numerous ATMs spread all over the country, as well as 20 local branches. ESL prides itself on its service infused with personal concern for its members, one of the reasons why it has grown to become one of the most progressive financial institutions in the country. ESL offers its extensive range of benefits to people who are connected through a common affiliation. Its primary members are employees and retirees of the Eastman Kodak Company, their immediate family members, members of the George Eastman house, and residents of Rochester. ESL members own the credit union; therefore they are the main recipient of the products of the company’s financial operations.

 

History:

 

ESL FU was founded by George Eastman, founder of the Eastman Kodak Company in 1920 as Eastman Savings and Loans Association. His main purpose for founding the company was to provide for his employees’ financial needs. It was chartered in 1920 and holds its headquarters in 100 Kings Highway South , Rochester, New York and can be accessed online at www. esl.org.

On February 1, 2006, Eastman Savings and Loan officially became ESL Federal Credit Union. 

 

Advantages of Membership:

 

The primary advantage is financial transactions with a personal touch. ESL provides personalized service to each and every member, since each member is considered as the institution’s primary asset.

 

The members get to benefit from the Owner’s Dividend:

 

This is a benefit that comes when the institution’s earnings exceed the expected target for the year. The extra earnings are given back. Members can qualify for the Owner’s Dividend by using any ESL product  for which the member pays for or earns dividends.

 

Affordable Rates:

 

ESL offers no-downpayment mortgages and reasonable home-equity loans and lines, as well as varied types of loans. ESL can avail of these services which can be adapted to fit their financial needs.

 

Free Checking Accounts:

 

ESL offers free checking accounts. Members can earn more dividends with tiered accounts, through which they can earn more the more they save.

 

Easy Access:

 

ESL has 20 branches and large number of accessible free ATM machines nationwide. It can also be accessed through the Internet as well as through an automated phone service.

 

Becoming a member is fast, easy, and painless although to be a member one must possess the requirements for membership. Members of ESL FU must be residents of Rochester, New York, must be employees or retirees of the Eastman Kodak Co. and other related companies and subsidiaries, or immediate family members of Eastman employees.