Our Story

A history of strengthening members' finances

Our story is all about you.

Founded in 1964 by Port Authority of NY/NJ employees, XCEL Federal Credit Union serves individuals, families and businesses in New York, New Jersey and around the country.  We have always operated on the simple premise that everything we do should be in the best interests of our members.

Mission Statement

To be the primary financial institution for our members by providing the highest quality affordable products and services, delivered with honesty and integrity in a convenient and secure manner for generations to come.

A History of Growth

We are, and will remain, a member-focused financial institution.  In the more than 50 years since our founding, we have grown into a full-service credit union with more than $190 million in assets, allowing us to invest in innovation and deliver the solutions our members deserve in an an ever-changing financial world.  We're proud to serve our more than 18,000 members in New York, New Jersey and across the country.

What Makes XCEL Different From a Bank?

Though we're similar to a bank in the products and services we offer, our structure and business model is very different.  The key is that we're a non-profit organization owned by our members.  Banks are for-profit companies owned by shareholders that prioritize shareholder return, while credit unions like XCEL prioritize service and member satisfaction.  And because credit unions are not driven by profit, you'll find that XCEL often charges lower rates and fees than you've seen at banks.

Peace of Mind

XCEL is federally insured, regulated and examined annually by both the federal government and an independent CPA firm.  Each member’s deposits are insured to the $250,000 maximum allowable limit by the National Credit Union Administration (NCUA), which is backed by the full faith and credit of the U.S. government.  It's the same type of deposit insurance you may be familiar with from a bank, only insured by the NCUA instead of the FDIC.


XCEL FCU is a credit union serving members in New Jersey, New York and across the country.