The Credit Union Difference
How is a credit union different than a bank? Credit unions are not-for-profit organizations that exist to serve their members. Like banks, credit unions accept deposits, make loans and provide a wide array of other financial services. But as member-owned and cooperative institutions, credit unions provide a safe place to save and borrow at reasonable rates.
Member Owned
Credit unions are owned and controlled by the people, or members, who use their services.
Credit unions operate to promote the well-being of their members.
Cooperative
The cooperative structure of credit unions creates a cycle of mutual assistance towards the common goal of the financial well-being of members.
Not-For-Profit
Profits made by credit unions are returned back to members in the form of reduced fees, higher savings rates and lower loan rates.