What Is A Credit Union?

A credit union is a member-owned financial cooperative designed to help members help themselves financially. Every credit union member is also a credit union "owner." 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 at our annual meeting. The credit union's paid professional staff reports to the Board of Directors on a monthly basis.