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The Credit Union Difference

The Credit Union Difference

Credit unions are not-for-profit cooperatives, owned by their members who save and borrow there. There is a spirit of cooperation, along with a commitment to personalized service, which creates the sense of "family" that sets credit unions apart from other financial institutions. In today's rapidly changing financial environment, this is more important than ever.

Listed below are specific areas where credit unions differ from other financial institutions:

Not-for-profit

Credit unions are not-for-profit financial cooperatives. We exist to serve our members, not to make a profit, so credit unions do not issue stock or pay dividends to outside stockholders. Instead, we return our earnings to members by providing lower loan rates, generally pay higher dividends on deposits, and charge lower fees.

Ownership

Credit unions are a democracy. Each credit union member has equal ownership and one vote, regardless of how much money they have on deposit.

Volunteer Boards

Every credit union is governed by a board of directors, elected by and from the credit union's membership. Board members serve voluntarily and receive no compensation.

Membership Eligibility

Credit unions cannot serve the general public; instead people must qualify for membership. People are eligible for credit union membership through their employer, organizational affiliations like churches or social groups, or a community-chartered credit union.

Financial Education

Credit unions provide beneficial education to their members so they can become better educated consumers of financial services. We not only focus on our adult members, but work to give our youth and young adults the skills they need to become financially savvy.

People Helping People

Credit unions are focused on the common goal of providing quality financial services based on a foundation of financial strength and integrity. We exist to help people, not make a profit. Our goal is to serve all members well, including those of modest means—every member counts. The philosophy of "People Helping People" extends to our employees who become involved in many charitable activities and worthwhile causes that benefit the communities we serve.