What is a Credit Union?
A credit union is a member-owned financial cooperative designed to help members help themselves financially. CUs are owned and operated by their members who pool their savings and lend to each other. Serving members is the reason CUs exist!
Unlike a bank there are no outside stockholders that receive profits. Credit unions return their profits to their members in the form of better rates and lower fees. As a credit union member, you democratically elect the volunteer Board of Directors to run the credit union. The credit union’s paid, professional staff reports to the Board of Directors.
Credit Unions are often confused by the general public with credit bureaus and labor unions, but we actually have NO affiliation with either of those types of organizations at all. Our individual members are part owners, they control us and while some of our members may belong to labor unions, again we do not. Credit Unions can be found in both unionized and non-unionized companies. We serve people of all walks of life.
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