Helping Other People Excel Federal Credit Union Frequently Asked Questions

Is my money safe and secure?

Yes, member accounts at Helping Other People Excel Federal Credit Union remain safe and fully insured up to the maximums established in federal law.

Administered by NCUA, the Share Insurance Fund insures individual accounts at Helping Other People Excel Federal Credit Union up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund also separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.

NCUA’s online Share Insurance Estimator allows you to estimate your share insurance coverage. Once you provide the required data, the Share Insurance Estimator produces a report with detailed explanations of insurance coverage.

Members with additional questions about their insurance coverage may contact the National Credit Union Administration’s Consumer Assistance Center toll free at 800-755-1030. The center answers calls Monday through Friday between 8 a.m. and 6 p.m. Eastern.

You may also NCUA’s MyCreditUnion.gov website at any time for more information about insurance coverage.

What is the current status of Helping Other People Excel Federal Credit Union?

The National Credit Union Administration placed Helping Other People Excel Federal Credit Union into conservatorship on Oct. 16, 2015.

In conservatorship, NCUA’s priority is to protect the assets of the members of Helping Other People Excel Federal Credit Union while working to maintain safe-and-sound credit union operations.

What is the National Credit Union Administration?

An agency of the federal government, NCUA, among other things, operates and manages the Share Insurance Fund, which insures accounts at all federal credit unions, including Helping Other People Excel Federal Credit Union.

What is a conservatorship?

A conservatorship means that NCUA has assumed control of a credit union to ensure a credit union’s financial stability and safe-and-sound operation. In a conservatorship, NCUA works to address issues related to a credit union’s operations and financial condition while maintaining member service.

Can I still conduct business at Helping Other People Excel Federal Credit Union?

No, Pinnacle Federal Credit Union, headquartered in Edison, New Jersey, will run operations during the conservatorship.

Members may contact Pinnacle Federal Credit Union at 732-225-1505 or in person at the credit union’s office located at 135 Raritan Center Parkway, Edison, New Jersey. The office is open Monday through Thursday from 8 a.m. to 5 p.m., Friday from 8 a.m. to 6 p.m. and Saturday from 8 a.m. to 12:30 p.m. All deposit services will continue uninterrupted.

What are NCUA’s plans for operations at Helping Other People Excel Federal Credit Union?

Through a conservatorship, NCUA seeks to resolve operating issues at a credit union with a goal of protecting member assets and seeking a resolution to identified problems.

How many members and branches are affected by the conservatorship?

Helping Other People Excel Federal Credit Union has one main office, which will be closed. Service to the credit union’s members continues through Pinnacle Federal Credit Union.

What is the field of membership for Helping Other People Excel Federal Credit Union?

The credit union has a community charter to serve persons who live, work, worship, or attend school in, and businesses and other legal entities in Lakewood, New Jersey; spouses of persons who died while within the field of membership of this credit union; volunteers in the community; employees of the credit union and organizations of such persons.

How big is Helping Other People Excel Federal Credit Union?

The credit union has approximately $290,927 in assets, according to its most recent Call Report.

How long will this conservatorship last?

In working to resolve the issues affecting Helping Other People Excel Federal Credit Union, NCUA’s top priority is to protect the interests of the credit union’s members. NCUA has no set time frame for completing this resolution process.

What are NCUA’s plans for the future of Helping Other People Excel Federal Credit Union?

NCUA has made no decisions about the long-term future of the credit union. Continued credit union service for the members, however, is a priority.