What is a Credit Union
Credit unions are not-for-profit cooperative financial institutions that are owned by their members. Their directors are volunteers elected from within the credit unions' membership.
Credit unions offer most financial services found at banks, including loans, savings accounts, checking accounts, IRAs, internet account access, bill pay and more.
Credit unions vary in sizes. Some are small and operate in church basements, while others serve hundreds of thousands of members throughout entire communities. But all are non-profit cooperatives, and all share the same philosophy of "People Helping People."
Credit unions generally offer better rates on loans and savings than do commercial banks, due to credit unions' unique operation. While banks must make profits for their shareholders, credit unions exist only to serve their members. So instead of sending dividends to shareholders, your credit union returns it to you through better rates and improved services.
As a result, consumers have ranked credit unions as the leaders among financial institutions in customer satisfaction surveys.
Credit unions offer most financial services found at banks, including loans, savings accounts, checking accounts, IRAs, internet account access, bill pay and more.
Credit unions vary in sizes. Some are small and operate in church basements, while others serve hundreds of thousands of members throughout entire communities. But all are non-profit cooperatives, and all share the same philosophy of "People Helping People."
Credit unions generally offer better rates on loans and savings than do commercial banks, due to credit unions' unique operation. While banks must make profits for their shareholders, credit unions exist only to serve their members. So instead of sending dividends to shareholders, your credit union returns it to you through better rates and improved services.
As a result, consumers have ranked credit unions as the leaders among financial institutions in customer satisfaction surveys.
