Bay Federal Credit Union is a locally-based company that provides all the services of a bank. The main difference is that Bay Federal is owned by its account holders and does not operate for profit. More than 50 years old, Bay Federal's goal "is to be better than a bank by delivering outstanding service, competitive savings yields, low loan rates, and many low and no–cost services." Deposits and IRAs at the union are federally insured to at least $250,000. The business has seven local branches and some 60,000 members. They provide student, car, mortgage and other loans, ATM and credit cards, financial planning assistance and 24-hour online banking. Bay Federal also has a machine that counts customers' loose change.
