MoneyWisdom Blog

What is a SEG? Your Key to Credit Union Membership

Posted by Hanscom Federal Credit Union on May 1, 2019 9:44:00 AM

SEG.jpgMore than likely, your grandparents’ credit union was associated with a workplace. Tucked away in a corner of the plant or operated out of a co-worker’s home, these small financial institutions offered employees access to banking services that often could not be obtained elsewhere.These days, credit unions rarely serve only one employer in one location. The industry phrase, or jargon, for eligibility is “field of membership.” Though many credit unions have roots in particular industries, schools, or religions, their field of membership may now include whole communities or an entire state.

Hanscom FCU has hundreds of Select Employee Groups, or SEGs, in our field of membership. These companies partner with us to provide credit union membership for their employees. Our SEGs range from small businesses with fewer than 10 employees to major employers and local branches of national companies.

Once a company or organization becomes a SEG, all of its employees can join the credit union and take advantage of the products and services. In addition, the SEG has access to benefits like Lunch and Learn seminars, resources for employees, and fun stuff to keep employees focused on financial health.

These companies and organizations come to us so their employees can have the benefit of credit union membership. For employers, it’s a good move. There is no cost. All it takes is a letter requesting to become a SEG.

In today’s competitive marketplace, it is rare to find an extraordinary package of no-cost benefits for employees. You have a chance to offer real value to your employees. Why not join the 244+ organizations that are already part of our family?

Contact us to try out a Lunch and Learn seminar. Lunch is on us!

Learn More About Lunch and Learn Seminars

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Topics: Bank at Work

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