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Who Can Join

If you live or work in Washington state, you can join TAPCO Credit Union and become a member. Below are answers to frequently asked questions about credit unions in general, and TAPCO in specific. If you would like to learn more, please call us. We're here to help.

What is a Credit Union?

There are approximately 11,000 member-owned cooperative financial institutions, know as credit unions, in the U.S. Their roots go back to 1849 when the first credit union was established in Western Europe. A credit union is usually formed around a common bond, generally employment. Its main purpose is to give member-owners a place to save and borrow. Members put their money into a variety of savings and investment accounts. This money is then lent to members who pay interest. After operating expenses and reserve requirements are met, the remaining loan income is returned to the members as dividends and other financial services. Member-owned credit unions are not for profit; they exist only to serve their membership. As a result, credit unions are able to pay higher dividends on savings and charge lower interest rates on loans.

Why Join a Credit Union?

Credit unions are member-owned cooperative financial institutions, historically organized around a common bond such as an employer. Credit unions, unlike banks, are not-for-profit organizations existing only to serve their members. And unlike banks, credit unions are not subject to many state and federal taxes, enabling them to pay higher dividends on savings accounts and charge competitively price, low interest on loans. 

Why Join TAPCO?

TAPCO Credit Union has a long and rich history in Pierce County. Founded in 1934 by nine City of Tacoma employees, TAPCO has grown to over 24,000 members. Anyone who lives or works in the state of Washington is eligible for membership, and each member has a voice in how TAPCO operates. Member participation keeps TAPCO focused on the founding members' vision of "People Helping People."

How Does TAPCO Operate?

While maintaining a professional staff to run daily operations, TAPCO is governed by a Board of Directors that establishes and reviews policy. The Directors are TAPCO members who are elected by the membership and serve without pay. Every member has one vote, regardless of how much he or she has on deposit. At TAPCO, there is no select group of shareholders that profits more than anyone else. All members profit, individually and collectively.

TAPCO is a state-chartered credit union, organized under strict regulatory laws that are monitored and enforced by the National Credit Union Administration, an agency of the U.S. Government. The NCUA insures each member account up to $250,000 which means that your money is safe with TAPCO, just as with a traditional bank.

Members are required to maintain a minimum balance of $25 in a TAPCO account, but encouraged to take advantage of the many investment opportunities available through TAPCO. Learn more about the Benefits of Membership online or by calling a member service representative directly.