What is a Credit Union
What is a Credit Union?
Credit unions provide financial services to consumers with a primary focus on member experience – setting them apart from other financial service providers.
Because they are a cooperative, not-for-profit financial institution, credit unions typically offer higher rates on savings and lower rates on loans. Profits from a credit union go back to the members, primarily in the form of better rates and fees, and investments in service.
Each credit union serves a “field of membership” – which is something that all members have in common. You can also join a credit union based on your location or affiliated organization.
Savings in a credit union are insured by the NCUA up to $250,000, so your money is safe and secure.
It’s easy to find a credit union you can join. Use the credit union locator below or simply ask your local credit union…they’ll be sure to help!
Who Can Join a Credit Union?
You can also join a credit union based on your location or affiliated organization.
- Employer – many employers provide credit union membership as an employee benefit
- Geographic Location – many credit unions serve members that live, work or attend school in a geographic area
- Family – many credit unions allow family members to join. So if someone in your family is already a member…you can join too!
- Membership in groups such as a church, a labor union, or another membership association.