Who owns a credit union?
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.
Back to Top


Who can join a credit union?
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group.
Back to Top


What's a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.
Back to Top


Are savings deposits insured?
Yes. The National Credit Union Share Insurance Fund (NCUSIF)provides all members of federally insured credit unions with $250,000 in coverage for their single ownership accounts. These accounts include regular shares, share drafts, money market accounts, and share certificates.
Individuals with account balances totaling $250,000 or less at the same insured credit union are fully insured.

Back to Top


Privacy Policy Notices, Terms, and Conditions | Design & Hosting by Harland Financial Solutions, Inc.
Browser Requirements | Copyright Harland Financial Solutions, Inc. All Rights Reserved.
online banking facebook check reorder location