The Credit Union System
 

The only financial service network dedicated to member service instead of profit.

 

Credit Unions began as an idealistic, yet practical, experiment. The concept was simple: Members pool their savings and lend to each other. Credit union founders had a motto, still used today, describing why credit unions were started in the first place: “Not for profit, not for charity, but for service.” From the beginning, credit unions sought to keep people economically independent – by helping them learn to save and borrow prudently.

 

Our field of membership is determined by where you live, work, go to school or where you worship. Only eligible individuals may belong to the credit union and vote at meetings.

 

Another feature of credit unions is their volunteer leadership. The credit union board members (directors) are qualified, unpaid volunteers the members elect. They work for the membership’s best interest, not for the interest of a few stockholders.

 

Credit Unions are unique, they are different and separate from profit making financial institutions (banks and savings & loans). Credit unions are owned and democratically controlled by their members. The members elect the directors who set policy. The surplus from operations belongs to the membership and is used to benefit them, not a group of stockholders. “Not for profit, not for charity, but for SERVICE.”

 

As times change, so do credit unions. When new member needs arise, credit unions find ways to satisfy those needs. Credit unions remember their mission and are always looking for ways to benefit our members.