What Is A Credit Union?

When you become a member you'll share in your credit union's earnings in the form of lower loan rates and higher interest on your savings. It's better than "money in the bank."

We provide the following information to help you understand how credit unions are unique and different, and why we remain a necessary and extremely popular financial alternative for more than 87 million Americans.

Credit unions ARE different
When you walk into the lobby, or call a loan officer, what makes a credit union different from a bank or savings and loan isn't immediately apparent. The two financial institutions may offer similar products and services. But there the similarities stop. Crucial differences exist-in ownership, in cost of borrowing money, in use of services, and in customer satisfaction.

You're a part-owner at your credit union
Credit unions are member-owned not-for-profit financial cooperatives dedicated to improving members' lives. More than 87 million members own the 9,600 credit unions in the United States. You and other members elect a volunteer board of directors to oversee the credit union. Aside from required reserves and operating expenses, money the credit union makes is returned to member/owners in the form of better rates and services.

Contrast the credit union model with stock-issuing banks. Banks are owned by their stockholders. Most bank customers are not stockholders. Bank directors and management are paid and legally bound to make decisions that benefit stockholders (their owners), not customers.

Credit unions have the best rates
Since not-for-profit credit unions are structured to maximize value to their member/owners, we generally offer better rates than banks. Banks price products and services to make a profit. According to research by Bankrate.com, credit unions consistently offer better average rates on common financial products such as savings certificates (CDs) and home equity loans. This puts more money where it counts - in your wallet!

Credit unions educate members about money matters
Credit unions routinely inform and counsel members about financial matters. We keep you advised of rates, loan sales, and financial trends that affect you. Credit unions stress financial education, providing materials and holding seminars on financial planning, car, and home buying to help you make informed buying decisions. Many banks simply advertise their rates and sell their services.

Credit unions are No.1 in satisfaction and trust
Credit unions have been the favorite among those surveyed in the American Banker consumer satisfaction survey every year this independent publication has done the study--since 1983!

Join Us!
Click on the Membership link to find out if you're eligible to join!