Picatinny Federal Credit Union (PFCU), which operates five branches in Morris County, is on the threshold of implementing a new charter that facilitates the opening of additional locations in Somerset, Union and Essex counties.

According to CEO Rob Albrecht, PFCU’s expansion plans are in their infancy, and many options are under consideration.

“While we currently offer services in Somerset, Union and Essex counties, we don’t have physical branches in those counties as yet,” Albrecht said. “We are looking into various formats such as free-standing branches, locations in supermarkets or large retail stores or kiosks in office buildings. We expect our plans to firm up in 2027. The important point is that if you live, work, worship or go to school in any of the four counties we serve, you can become a member of our credit union.”

Albrecht points out that thanks to a generous suite of digital services, members don’t need to visit a branch to either join PFCU or avail themselves of the many services the credit union offers. PFCU has a contact center where members can speak to a representative and an expansive network of 55,000 surcharge-fee ATMs. Online bill paying, 24-hour online banking, mobile banking and online funds transfers through the Zelle® app, are among the conveniences that PFCU members enjoy.

“Our members can apply for a loan, have the loan approved and get the funds, through digital channels,” he added. “We utilized e-sign documents, so if it’s a personal loan, we can either deposit the funds directly into your account or send you a check. If it’s an auto loan we can send funds to the dealership on your behalf. We try to make banking as convenient as possible.”

While PFCU offers the latest innovations in digital banking services, Albrecht stresses the importance of maintaining a personal connection to the community. He remarked that at a credit union such as PFCU, members are more than an account number. PFCU’s mission statement, “We care about our family of members by offering financial solutions to help them achieve their goals and realize their dreams” is evident in the fact that PFCU employees know their members by name.

“We don’t have telemarketers calling you at 8 p.m. trying to sell you a mortgage,” he said. “When we do reach out, it’s because we care about the people who bank with us and we have something that will benefit you and improve your financial future.”

PFCU also assists members by offering low fees and favorable rates on loans and credit cards. PFCU does not charge a monthly fee for having a checking account. They also provide a relationship rewards loyalty program that includes tiered bonus rates on savings accounts, discounts on loans and no fees on certain products. New PFCU credit cards offer a 0% interest rate for the first year with no balance transfer fees. The maximum credit card interest rate at PFCU is 18%.

“We are always evolving,” Albrecht explained. “We’re looking at technology, products and services in the industry and we’re doing our best to stay on top of all of that. Technology changes so fast, they we are constantly working with our vendors to stay current. One of the things we introduced is instant issue. You come into the branch, and you walk out with a debit card in your hands.”

At Picatinny Federal Credit Union, customers are more than just an account number. The benefits of credit union membership go hand-in-hand with PFCU’s goal of being a family-style financial institution with deep connections to the community. PFCU fosters a hometown character by encouraging local involvement. The credit union contributes to area food banks and participates in events such as street fairs. PFCU also sponsors initiatives including the Eleventh-Hour Animal Rescue organization, Warrior Strong (a fitness program for veterans, first responders and their families) and the Picatinny Future Leaders Scholarship program.

Besides being a great place to bank, PFCU is a great place to work.

“We really care about our employees,” he said. “If you take good care of your employees, they will in turn take better care of your members. We have an internal culture that is based on caring about each other. Our care team does things for the employees. Whether they’re staging a fun team building event, leaving a candy bar in your desk or giving you a lunch ticket, the care team prompts kindness among the staff. When our employees are engaged, they take better care of the people who are coming in to do business with us.”

Picatinny Federal Credit Union has branches in Rockaway, Parsippany, Denville, Mt. Olive and at the Picatinny Arsenal. For more information visit picacreditunion.com.

— Stan Lemond