Scranton Times Downtown Federal Credit Union traces its roots back to 1963 when our country was experiencing economic and social uncertainty. Our original field of membership began with the Scranton Times employees, as well as the employees of WEJL radio station and the Scranton Engraving Company. Many of our original sponsor company’s employees had lost their faith in banks, so they pooled their extra money together and allowed it to be borrowed at a low-interest rate. Hence, Scranton Times Downtown Federal Credit Union was born. The organization has continued to thrive over the years through the efforts of many volunteers who are dedicated to the credit union philosophy.

Today we service the personal financial needs of over 3,300 members with assets totaling over $6 million. In addition to our founding sponsor groups, all other Times publications, eight radio stations, the Scranton Lace Company, and Laurel Hill and Holiday Manor Nursing Homes are part of our field of membership.

Additionally, the Amalgamated Clothing and Textile Workers Credit Union merged with us in 1988. Anyone who lives, works, worships, or attends school within the Downtown Scranton area is eligible to join the credit union. Additionally, all family members of the individuals are also eligible to join.

Because we are not-for-profit financial organization, our success is measured by the level of member satisfaction, not the bottom line.

While attempting to satisfy the needs of an individual member, we never lose sight of the commitment we have to ALL of our members – to protect the financial integrity of THEIR financial institution.

As a federally-insured credit union, we are audited on an annual basis. We are proud that we consistently receive high ratings and represent the type of financial institution that are members can take pride in being associated with. 

*We constantly strive to improve both the quantity and quality of products and services available. Although we have grown over the years, we have never lost sight of our primary purpose, to deliver financial products in a prompt, professional and courteous manner. At Scranton Times Downtown Federal Credit Union, “people helping people” is not a catchy slogan, it is what we practice every day!

We look forward to your company and employees becoming part of our growing family and realize the many benefits associated with membership in Scranton Times Downtown Federal Credit Union.

Not for Profit – Not for Charity – But for Service

The Scranton Times Downtown Federal Credit Union is a member-owned and operated not-for-profit financial organization.

Our primary purpose is to promote thrift and provide a full range of financial services at fair and competitive rates while always maintaining our financial stability. Our Credit Union will maintain a constant awareness and openness to future programs and policies to meet the changing needs of our members while keeping in mind The Credit Union philosophy and concept.

Scranton Times Downtown FCU Privacy Policy
The credit union will collect only our members’ personal information that is necessary to conduct our business. That means just what is necessary to provide competitive financial products and services – no more. * The credit union will protect our members’ personal information. The credit union will maintain strong security controls to ensure that member information in our files and computers is protected. Where appropriate, we will use security-coding techniques to protect against unauthorized access to personal records, ensure accuracy and integrity of communications and transactions, and protect member confidentiality. * The member will always have access to their information. As a member of our credit union, the member will always have the opportunity to review their information and make necessary changes to ensure that our records are complete and accurate. * The credit union will only share information when absolutely necessary. The credit union will only share information to administer the products and services we provide, when required to do so by the government or when we partner with other businesses to offer a broader array of products and services. * The credit union will partner only with businesses that follow strict confidentiality requirements. The businesses we select will offer products designed to enhance our members’ economic well being. Under no circumstances will we authorize these firms to charge our members’ account without their express consent, and we will not sell member information to telemarketing firms. * The credit union will offer our members’ a choice in how their information is used. Any member of our credit union may elect to keep information from being shared with our business partners. We will inform our members on how to exercise their choice, and we will take all reasonable steps to make sure their requests are followed. At least once a year, we will remind all members of their right to choose. The above policy was reviewed and approved by the Board of Directors at its December 16, 1999 board meeting.

What is a Credit Union?

Credit unions are not for profit cooperative associations that offer a variety of personal financial services exclusively to their members. People who join a credit union do so because of a “common bond”, such as a place of employment, an organization, or a church group.

Credit unions are not a new concept. Their origins go back to mid-19th century Europe. At that time, a group of local farmers pooled their resources to purchase supplies at a lower cost. They also agreed to place their excess earnings during periods of good harvest in a common account. In return, participants could then borrow from the “common account” at a lower interest rates during periods of poor harvest. In the early 1900’s, the credit union concept of “people helping people” was introduced into the United States by Edward Filene, a Boston Merchant. The first U.S. credit union, St. Mary’s Cooperative Credit Association, was established in 1909 in New Hampshire and is still in operation.

Unlike other types of financial institutions that must generate a profit for stockholders, credit unions are member-owned , not-for-profit, cooperative financial organizations. As such, excess earnings are returned to the members, primarily in the following returns:

  • Competitive dividend rates paid on savings and investment accounts.
  • Competitive interest rates on loans.
  • The addition of new product and services.

The products and services offered and the methods used to conduct business have changed over the years. Credit unions now take advantage of today’s technology to meet the ever-changing needs of members. However, the basic philosophy envisioned by our founding fathers has not changed – that of “people helping people.”

Benefits of direct deposit

We encourage each of our sponsor employee groups to make Direct Deposit and Payroll Deduction available to their employees who join the credit union. With Direct Deposit, employees’ entire net pay is automatically deposited into their credit union accounts. With Payroll Deduction, all or a portion of their net pay is deposited into their credit union accounts. Both offer you and your employees benefits, such as: Scranton Times Downtown Federal Credit Union is set up to accept electronic transfer of funds. Utilizing this service could save your company money associated with payroll processing.


Because employees will know that their money is automatically in their accounts on payday, you will lose less productivity caused by “running out to the bank,” “rushing to make a loan payment,” etc. This service encourages employees to save and can help them more effectively manage their personal finances. We can work with you to set Direct Deposit and Payroll Deduction. Once in place, we are confident that you will appreciate the value this service offers both you and your employees.

Click for current rates
Share Rates Effective 10-31-2014
Apye Apye
Regular .05 IRA 1.00 1.01*
Club .05
Share Certificate
12-month Share Certificate .20 .21*
24-month Share Certificate .30 .31*
*varies based on amount and compounding
Loan Rates
Visa Classic 12.90% DPR .035342
Visa Gold 9.90% DPR .027123
Signature 11.00% DPR .030137
Co-Maker 13.00% DPR .035616
Overdraft 15.00% DPR .041096
Holiday Sp 2.99% DPR .081918
Vac Special 4.99% DPR .013671
Share Secured 4.50% DPR .012329
Share Cert. Sec. 4.50% DPR .012329
New Vehicles
36 mon 3.99% DPR .010931
48 mon 3.99%
60 mon 4.99% DPR .013671
72 mon 4.99%
Used Vehicles
<5yrs 5.99% DPR .016411
>5yrs 6.99% DPR .019151
Repayment: <4 yrs: 60 mon
4-6 yrs: 48 mon
>6 yrs: 36 mon
Home Equity
1-10yrs 4.00% DPR .010959
11-15yrs 4.50% DPR .012329
16- 20yrs 5.25% DPR .014384
***All rates are subject to change by the Board.


In today’s complex financial world, our products and services are tailored to meet our member’s needs.

Loan Application Form (Requires Adobe Acrobat Reader)


Savings and Investment Accounts

  • Regular Share Savings Accounts Club Accounts (Christmas and Vacation)
  • Individual Retirement Accounts (IRAs)
  • Share Certificates


  • New/Used Vehicle Loans
  • Home Equity Loans
  • Signature Loans
  • Shared Secured Loans
  • Student Loans
  • Co-Maker Loans

Share Draft (Checking) Accounts

  • No Monthly Fees, Per Check Fees or Minimum Balances
  • First 180 Checks Are Free
  • Checks Stored On Microfilm
  • Duplicate Copy Checks
  • Free Overdraft Protection

VISA Credit Card

  • Low 12.9% APR
  • No Annual Fee
  • 25 Day Grace Period On Purchases
  • ATM Access
  • Free VISA Accident/Travel Insurance
  • VISA Gold Card at 9.90%

VISA Check Card

  • ATM Withdrawal Access
  • Debit Card Access
  • More Convenient Than A Checkbook
  • Around-The-Clock Access
  • Thousands Of Locations Nationwide
  • Make Purchases Anywhere VISA Is Accepted
  • Overdraft Protection


  • ACH Direct Deposit
  • Payroll Deduction (Government, Retirement and Payroll)
  • American Express Travelers Checks and Gift Checks
  • Family Membership
  • Loan Protection and Credit Disability Insurance
  • Life Savings Insurance ($1,000)
  • Postage Stamps
  • Free Notary Service

MEMBER NOTICE: In case of disruption of service you can call the Main Office at 348-9192

Your savings account is federally insured to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), administered by the National Credit Union Administration, a U.S. Government agency.
We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Click here to view the full HUD Statement.