Continuity, Safety & Service
The IDB-IIC Federal Credit Union is a not-for-profit, financial service cooperative owned by over 11,000 members and sponsored by the Inter-American Development Bank community (IDB and IDB Invest).
Credit Union Advantage
Not for profit, not for charity, but for service is a credit union motto. This usually means a financial advantage for members, whether in the form of higher rates for savers, lower rates for borrowers, a minimum of fees or better services and educational resources.
OUR COMMITMENT TO OUR MEMBERS
Continuity, Safety & Service
- To protect the assets of our members by maintaining a secure, strong and stable Financial Institution.
- To improve the service to our members by providing more personalized, more efficient and more convenient interactions across more integrated delivery channels.
- To promote the Credit Union philosophy of cooperative ownership and democratic organization.
- To work closely with our sponsor organizations to develop special products for the benefits of our members.
Find out what the IDB-IIC Federal Credit Union has accomplished and its statements of financial health each year by reading our Annual Reports.
A profitable Credit Union serving members needs in a secure, private, and efficient manner.
We will offer quality products and services through an improved service experience while maintaining our bilingual member service relationship approach and protecting the security and privacy of our members.
- We treat our members, our volunteers, our employees, and our vendors with kindness, inclusiveness, integrity, and respect.
- We approach our work with grit, persistence, curiosity, and discipline.
- We approach each other with a sense of urgency, a sense of seeking sensible solutions, and a sense of humor.
Our Core Values
- Financial strength and stability
- Member Service Excellence
- Security over Member Information and Accounts
IDB-IIC Federal Credit Union was chartered to meet the saving and borrowing needs of IDB staff, pensioners and their families.
The Credit Union started offering automobile financing for new cars and 4 years later, for used cars.
Introduction of the First Deed of Trust loan program.
The accounts for minor children were approved, and as a family we continued moving forward.
The Credit Union implemented the first computer system to gather member information and to keep track of their account balances and transactions.
Checking accounts were first offered to our membership.
Credit Union Total Assets exceeded $50 million
Introduction of the Home Equity Line of Credit program; Change in Executive Administration from Álvaro Mera to Bruce A. Cameron
Introduction of First Home Mortgage Program. The first member to apply was from Brazil.
Supplemental Housing and Special Education Advance program were created to provide more opportunities to our members.
The IIC, an affiliate of IDB, was added as a sponsor in October.
The Country Office Program loan was implemented and benefited member in over 26 countries around the world.
Credit Union Total Assets exceeded $100 million
The first IDB-IIC Federal Credit Union MasterMoney Debit Card was launched.
Members witnessed the conversion from the in-house PCBanco system to on-line banking system that allowed them to have Online Account Access.
Credit Union Total Assets exceeded $300 million
Our first credit card was launched; The Online Mortgage Center was created to offer members better service and products that best meet their personal financial needs.
The IDB-IIC Federal Credit Union celebrated 50 years As a Family, with a cocktail and the raffle of a Smart Car, Plasma HDTV and $1,500 Share Certificate!
We introduced mobile web banking via free applications for Apple and Android tablets and smartphones. These applications gave members easy, convenient options for accessing their accounts from any location with internet access.
We upgraded to the new security platform for our Online Account Access system and mobile web, ensuring that our Credit Union meets the latest internet banking security authentication requirements of FFIEC (Federal Financial Institutions Examination Council).
The Credit Union’s call center was created to better manage member inbound calls and email requests received through our secure email channel.
Remote Deposit was launched so members can securely deposit checks anytime, anywhere via their smart phones or tablets. The Mobile App was updated to integrate external transfer options, Me-To-Me and PopMoney, so members can transfer money from their mobile device.
Change in Executive Administration from Bruce A. Cameron to our Current CEO William L. (Chip) Lusk, Jr.
The Credit Union took great steps to revolutionize our institution: a Core System Upgrade, which was designed to offer members enhanced technology, new products, better service and greater convenience.