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What's a Credit Union

A CREDIT UNION IS DIFFERENT
Credit unions have been around a long, long time. Yet, the face of the financial industry is significantly different than what it used to be. We're excited to share how credit unions truly are unique and different.

REASON #1 Credit unions are not-for-profit cooperatives. The sole purpose we exist is to serve our members. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in the form of lower loan rates, higher interest on deposits, and lower fees.

REASON #2 Credit unions are an economic democracy. Each credit union member has equal ownership and one vote; regardless of how much money a member has on deposit. At a credit union, every customer is both a member and an owner.

REASON #3 Each credit union is governed by a volunteer board of directors, elected by and from the credit union's membership. Board members serve voluntarily.

REASON #4 By current federal statute, credit unions cannot serve the general public. People qualify for a credit union membership through community-charter, their employer, and organizational affiliations like churches or social groups.

REASON #5 Credit unions assist members to become better-educated consumers of financial services. Unlike other organizations that set up their infrastructure on a need-to-know basis, a credit union places top priority on communicating to members anything that serves in their best interest. A national study shows that just 10 hours of finance education can positively affect spending and saving habits for a lifetime.

REASON #6 Credit unions exist to help people, not to make a profit. Our goal is to serve our entire membership well, including those of modest means - every member counts. Our members are fiercely loyal for this reason. They know their credit union will be there for them in good times, as well as bad.

REASON #7 Credit unions actively seek out opportunities to support their community. The same people-first philosophy causes credit unions and our employees to get involved in community charitable activities and worthwhile causes.

REASON #8 Credit union by-laws govern the Board of Directors' communication to membership. Policies are written to maintain open and fair practices in the day-to-day financial handling, including meeting annually to share Board decisions and call for membership feedback.

REASON #9 Funds deposited at credit unions are backed by the National Credit Union Association (NCUA). Funds are protected at credit unions by NCUA, a system that is the strongest available. NCUA backs every dollar with one dollar and thirty five cents. FDIC insurance meets federal requirements, however their standards set aside eighty cents on the dollar.

REASON #10 Credit unions actively pursue positive marketing tactics. Credit unions were founded with the people helping people philosophy. Identifying solutions, offering education, and working from the heart naturally resolve life's challenges...there is simply no need to point out anything negative.

REASON #1	Credit unions are not-for-profit cooperatives. The sole purpose we exist is to serve our members. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in the form of lower loan rates, higher interest on deposits, and lower fees.
REASON #2	Credit unions are an economic democracy. Each credit union member has equal ownership and one vote; regardless of how much money a member has on deposit. At a credit union, every customer is both a member and an owner.
REASON #3	Each credit union is governed by a volunteer board of directors, elected by and from the credit union's membership. Board members serve voluntarily.
REASON #4	By current federal statute, credit unions cannot serve the general public. People qualify for a credit union membership through community-charter, their employer, and organizational affiliations like churches or social groups.
REASON #5	Credit unions assist members to become better-educated consumers of financial services. Unlike other organizations that set up their infrastructure on a need-to-know basis, a credit union places top priority on communicating to members anything that serves in their best interest. A national study shows that just 10 hours of finance education can positively affect spending and saving habits for a lifetime.
REASON #6	Credit unions exist to help people, not to make a profit. Our goal is to serve our entire membership well, including those of modest means - every member counts. Our members are fiercely loyal for this reason. They know their credit union will be there for them in good times, as well as bad.
REASON #7	Credit unions actively seek out opportunities to support their community. The same people-first philosophy causes credit unions and our employees to get involved in community charitable activities and worthwhile causes.
REASON #8	Credit union by-laws govern the Board of Directors' communication to membership. Policies are written to maintain open and fair practices in the day-to-day financial handling, including meeting annually to share Board decisions and call for membership feedback.
REASON #9	Funds deposited at credit unions are backed by the National Credit Union Association (NCUA). Funds are protected at credit unions by NCUA, a system that is the strongest available. NCUA backs every dollar with one dollar and thirty five cents. FDIC insurance meets federal requirements, however their standards set aside eighty cents on the dollar.
REASON #10	Credit unions actively pursue positive marketing tactics. Credit unions were founded with the people helping people philosophy. Identifying solutions, offering education, and working from the heart naturally resolve life's challenges...there is simply no need to point out anything negative.