Credit union · NCUA insured
IBEW Local 56 Federal Credit Union
A $10.9M credit union headquartered in Erie, PA, with 1,544 members and 1 branch in Pennsylvania. Best rates: CDs 3.86% and savings 0.30% APY.
IBEW Local 56 Federal Credit Union Carrot Score
82
Carrot Score
Higher than 58% of U.S. banks and credit unions
#4 of 17 in Erie, PA metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About IBEW Local 56 Federal Credit Union
IBEW Local 56 Federal Credit Union was chartered in 1961.
- Headquarters
- 962 W 20th St, Erie, PA 16502-2401
- NCUA charter
- 14247
Membership
Who can join
This may be incomplete or out of date, so check with the credit union before you apply.
Employers and groups
- Employees of I.B.E.W. Local #56, Stroehmann Bakery, Advanced Business Systems, Birkmire Transportation Services, Signal-Tech, Metro Health Center, Advanced Protection Services, A-1 Automotive, AAA West Penn/Erie County, Furman Enterprises, Inc., and West Erie County Democratic Committe are eligible for membership.
Family and household
- Family members (defined as spouse, children, parent, grandparent, grandchildren, sister, and brother) of a current member are eligible for membership.
Cost to join
- A $0.25 membership fee is required.
- A minimum balance of $25.00 is required within 6 months to maintain membership.
Branches
1 branch in Pennsylvania
Loading map…
Pennsylvania
1 branch
- IBEW Local #56 Federal Credit UnionMain office962 W 20th St, Erie, PA 16502Directions
Walk-in offices from the NCUA directory as of March 31, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
Well capitalizedas reported to the NCUA
| Measure | This credit union | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalNet worth ratio | 12.96% | 14.31% | 19.38% or more |
| Troubled loans60+ days late | 2.27% | 0.70% | 0.18% or less |
| ProfitabilityReturn on assets | 1.24% | 0.65% | 1.19% or more |
| LendingLoans per $100 deposited | $52 | $59 | — |
- CapitalNet worth ratio12.96%Peers’ middle 14.31% · Top 25% 19.38%+
- Troubled loans60+ days late2.27%Peers’ middle 0.70% · Top 25% ≤0.18%
- ProfitabilityReturn on assets1.24%Peers’ middle 0.65% · Top 25% 1.19%+
- LendingLoans per $100 deposited$52Peers’ middle $59
Compared with the 2,478 credit unions with under $100 million in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are loans 60 or more days late.
Regulators’ own ratings of IBEW Local 56 Federal Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.