Credit unions are not-for-profit cooperatives, owned by their members who save and borrow there. We exist to serve our members, not to make a profit, so credit unions do not issue stock or pay dividends to outside stockholders. Instead, we return our earnings to members by providing lower loan rates, generally pay higher dividends on deposits and charge lower fees.
Credit unions are a democracy. Each credit union member has equal ownership and one vote, regardless of how much money they have on deposit.
Every credit union is governed by a board of directors, elected by and from the credit union's membership. Board members serve voluntarily and receive no compensation.
Credit unions cannot serve the general public; instead, people must qualify for membership. People are eligible for credit union membership through their employer or organizational affiliations like churches or social groups, or a community-chartered credit union.
Credit unions provide beneficial education to their members so they can become better educated consumers of financial services. We not only focus on our adult members, but work to give our youth and young adults the skills they need to become financially savvy.