A credit union is a financial co-operative of individuals with a common affiliation (such as employment, labor union membership or place of residence). Credit unions accept deposits, pay interest (dividends), and provide loans and other services to their members.

What is a Credit Union?

Credit unions are co-operative: They are owned and governed by their members. As a result, they exists solely to provide you with a safe, convenient place to save money, obtain loans at reasonable rates and receive other needed services.

Credit unions are not-for-profit: All credit unions are owned by members; there are no outside shareholders. Any earnings are returned to members in the form of lower rates on loans and credit cards, more competitive return on savings, low / no fees and value-added services.

Credit unions are volunteer-driven: A credit union's policy-making board of directors and some of its committees are made up of members who are elected by other members. In other words, as a credit union member, you have a say in how it is run.

Credit unions are first in service: Credit unions have consistently ranked higher than banks and other financial institutions in the annual Customer Satisfaction Index report.

The Credit Union Difference