Membership
About Credit UnionsBack to Menu
A credit union is a member-owned, not-for-profit cooperative financial institution owned and operated by its members. These members -- who are united by a common bond of employment, association, or community -- democratically operate the credit union under state and federal regulation. There are more than 11,000 credit unions in the United States and Canada, serving more than 77 million members.
Credit union members generally share a common bond such as occupation, residence, association and family (membership is extended to any member's immediate family). Federal and state credit union laws restrict credit unions to serving only the groups specified in their charters. The group or groups served by a credit union are referred to as its field of membership (FOM). Because each credit union is autonomous, the financial products and services offered will vary.
The biggest difference between credit unions and other financial institutions is that the members are the owners. Credit unions exist solely to serve their member-owners, who are the only depositors. The benefits of ownership are returned to the member in the form of lower rates, bigger dividends, and personal service. After meeting normal expenses and the reserve requirements needed to ensure financial stability, credit unions return net earnings to their members in one form or another. The absence of a profit motive allows credit unions to focus their energy on meeting members' needs -- and this has helped credit unions follow a different path from that taken by other financial institutions. Instead of trying to maximize revenues from members, credit unions act as partners in promoting the financial well-being of those who use their services.
To learn more about credit unions, click here to go to the Credit Union National Association’s consumer web site.
About NHFCUBack to Menu
Our Mission Statement:
Northern Hills Federal Credit Union is a financial cooperative, based on the philosophy of people helping people, serving everyone in all Northern Black Hills communities through our commitment to innovation, quality financial products, education and exceptional member service.
Our Charter:
Northern Hills Federal Credit Union was chartered in October 1950 as Ft. Meade Federal Credit Union and served only the employees of the Ft. Meade Veterans Administration Hospital. In 1987, the credit union moved into a facility in Sturgis at First & Main Streets, where it is still housed today. At that time, the name was changed to Meade Plus Federal Credit Union, and the field of membership was expanded to serve additional employer groups. In 1994, a branch was opened in Belle Fourche, SD, where it is still located today. In 1999, the credit union changed its name to Northern Hills Federal Credit Union and also received expanded field of membership rights to serve the three-county communities of Butte, Lawrence and Meade Counties known as the Northern Hills. A new office was opened in Spearfish SD in 2004.
Field of MembershipBack to Menu
Northern Hills Federal Credit Union’s field of membership is approved and regulated by the National Credit Union Administration (NCUA). Our current field of membership is:- Persons who live in, worship in, work in, or attend school in the counties of Meade, Butte or Lawrence, South Dakota, and members of their immediate family or household.
- Organizations of such persons. This means an organization or organizations composed exclusively of persons who are within the field of membership of this credit union.
Patriot Act Disclosure
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT!
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. We routinely view credit reports.
Board & ManagementBack to Menu
Board of Directors Tracy Davidson, Chairperson
Chris DeWain, 1st Vice Chair
Laura Prosser, 2nd Vice Chair
Gordon Budahl, Secretary/Treasurer
John Yuill, Director
Jim Ross, Director
Shawn Stinton, Director
Supervisory Committee
Dick Wrightsman, Chairperson
Millie Humphrey, Member
Kathy Laufenberg, Member
Management
Cindy A. Griffin, President
Daryla J. Sandy, VP Sales & Operations
Melody Fallon, VP Lending
Kathy Christenson, Branch Operations Manager
Rhonda Cutts, Director of Administration
Brenda Schneller, Marketing Executive
Launa Mason, Spearfish Branch Team Leader
Christy Frerichs, Belle Fourche Branch Team Leader
Community InvolvementBack to Menu
2007 Award Recipients:
January - Northern Hills Retired Senior Volunteer Program (RSVP)
February – Jerry Robinson – Robinson Builders
March – Bob Morris of Belle Fourche
April – The Retired Enlisted Association (TREA)
May – Don Ericson – Sturgis Academy
June – Lions Club of Belle Fourche
July – Storybook Island
August – Ronald McDonald® Dental Care Mobile
September – Behavior Management Systems
October – Dakota Women’s Imaging
November – Share South Dakota – Sturgis
December – Community Food Banks Of South Dakota
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government NCUA. a U.S. Government Agency.
© 2008 Northern Hills Federal Credit Union