Credit unions are structured as not-for-profit financial cooperatives. They exist solely to serve their members.
Member-Owned
A credit union is managed by a volunteer board of directors that is elected by the members. Each member has an equal vote.
Competitive Rates
Because of their not-for-profit structure, credit unions return earnings to their members in the form of higher rates on savings and lower rates on loans.
Local Community Focus
Because of how they were formed, credit unions naturally have a powerful focus on the communities they serve.