CREDIT UNION
All City employees are eligible to join the Newport News Municipal Employees' Credit Union at any time during their employment with the City. The credit union offers a full range of savings, loan and checking services. Arrangements for payroll deductions must be made directly with the credit union. Employees must complete six months of service prior to applying for a loan. Upon joining, all members of the employee's family become eligible for membership. Offices are located beside City Hall, on 25th Street, and at 502 Operations Drive.

U.S. SAVINGS BONDS
All City employees may purchase U.S. Savings Bonds through payroll deduction. Withholding forms are available through the Benefits Office.

DEFERRED COMPENSATION PLAN
All City employees are eligible to participate in a deferred compensation plan which is sponsored by the International City Management Association (ICMA). Participation in this plan is optional and contributions are made through payroll deduction. This program is designed primarily as a portable retirement plan for mobile employees of state and local government. All contributions are tax deferred and may be withdrawn only in case of emergency, retirement, death, disability or termination of employment. Numerous investment plans are available to employees. Additional information regarding the deferred compensation plan is available by contacting the Benefits Office of the Finance Department.