What is a Credit Union?
When you join, you're not just a member, you're an owner. Credit Unions are not-for-profit cooperative financial institutions owned and directed by its members who save and borrow there. It is member-owned and controlled through a board of directors elected by the membership. The board establishes policies and sets dividend and loan rates. Since there are no outside stockholders, everything the credit union does is for the exclusive benefit of the members.