Tuscon Federal Credit Union (TFCU)

Tucson Federal Credit Union started back in 1937 when a group of teachers got together and established a cooperative financial institution.


  Their aim was to help people and share their good fortune amongst members.  Like all credit unions, they do not take profit in the form of shares but use their earnings to offer low rates and fees and high-interest savings for their members. Tucson Federal Credit Union is approved to operate as a "Community Chartered" credit union. Membership is available to anyone who lives, works, or attends school in Pima County. Eligibility extends to those who worship or volunteer in Pima County. Immediate families and household members of qualifying members can also benefit from joining TFCU. If you meet these criteria, you can open a personal account at TFCU, you must meet the above criteria. Any business that operates in Pima County can have a business account with Tucson Federal Credit Union and their employees, a personal account.

Reflecting their community and “people-first” aim, Tucson Federal Credit Union offers a checking account called, Second Chance Checking for people who have had credit issue problems in the past. This account offers you free online banking, free statements, free bill paying function, free Visa Instacheck debit card, no minimum balance is required, and direct deposit is also available. This checking account gives the customer a chance to rebuild their credit  if they maintain the account in good order for 12 months, then TFCU will upgrade them to a regular checking account and review their eligibility for a $500 Visa Platinum credit card.

To qualify for the Second Chance Checking account, members must be at least 18 years old; have no current delinquency with Tucson Federal Credit Union or balance due to a TFCU charge-off. In addition, they should have no past fraud activity or balances owing on ChexSystems Inc. To further help their members, Tucson Federal Credit Union offers monthly financial counselling with one-on-one meetings to sort out budgets, pay off debt, resolve and improve credit issues and establish savings plans. They have a downloadable monthly budget planner and income/expenses sheet to help members track their money and a “Tip of the month” to help members save money.

Tucson Federal Credit Union has a Visa credit card, either Platinum, up to $5000 or Platinum Preferred, from $5000 to $20,000.  They also offer a consolidation of credit cards with the chance to move your balances from existing cards to their Visa card. For this service, there is no balance transfer fee, no annual fee, no cash advance fee, and they claim to be able to offer you a better rate of interest. Current rates of interest for Visa Platinum is 10.5% to 13.5% APR and for Platinum Preferred, 13.25% to 17.5% APR. Overall, Tucson Federal Credit Union has a realistic and supportive approach to people who may have experienced, or are experiencing credit problems. They offer a way for these people to repair their credit and get back on their feet, without charging them extortionate fees to do so.


Source: Credit Cards For People With Bad Credit Rating

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