Our History

IRCO Community Federal Credit Union was formed on April 21, 1966, to strictly serve the employees of Ingersoll Rand Company in Phillipsburg, NJ. In 1986, we officially became a community credit union with a new name – IRCO Community Federal Credit Union. This change allowed us to open our doors to many more people in our community. Originally we served Phillipsburg & Alpha and the townships of Franklin, Greenwich, Harmony, Lopatcong, and Pohatcong in NJ. We now have expanded across the river to Northampton and Lehigh counties in PA, where we have a branch office located on William Penn Highway in Palmer Township. Now, anyone who lives, works, shops, attends school, worships, or volunteers in any of the communities listed is eligible to join IRCO!

Credit Unions are formed to give ordinary people a place to find low-cost financial products and services.  In some ways, we’re like a bank because we have savings & checking accounts, debit & credit cards, and many types of loans. But how are we different from a bank? We have members, not stockholders, and our members aren’t just customers. They are our owners! By pooling together as a cooperative, credit unions like IRCO turn our profits back to our members in the form of lower loan rates, lower fees, and higher dividends on savings.

All share savings accounts are insured to $500,000 by the National Credit Union Administration (NCUA), a federal government agency, and Excess Share Insurance (ESI). The credit union’s Supervisory Committee keeps a constant check on our operations and employs a local accounting firm to conduct an annual audit. Federally, IRCO is also audited by NCUA annually.

“Once a Member, Always a Member”

This credit union motto means that even if you move or change employment, you can retain membership at IRCO. Membership can also be expanded to immediate family, including mother, father, son, daughter, sister, brother, etc.

IRCO offers a wide variety of products and services to our membership, many with little or no fees. An initial deposit of $5.00 is all that’s required to open an account. We are here to help with all our members’ financial needs, and loan decisions are made right here locally in our community to best serve our members.