A credit union is a cooperative, not-for-profit financial institution that offers a variety of savings and lending services, It is owned and controlled by “members,” the people who use its services. Credit unions serve groups that share something in common, such as where they work or live.

Like credit unions, banks accept deposits and make loans--but unlike credit unions, they are in business to make a profit. Credit unions are not-for-profit businesses. This means that after paying dividends on savings deposits, paying expenses, and setting some money aside for emergencies and other uses, the credit union gives any money left over back to its members. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution that exists to benefit them.

When you join, you become part-owner of your own financial institution. You will be treated like you own the place... because you do.