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The CU Difference

What is a Financial Cooperative?

Credit Unions were created in 1933 as an alternative financial option to traditional banks, as a way to promote savings and improve members’ lives. Credit Unions are a financial cooperative, which means we are a financial institution owned and operated by its members. The goal of a financial cooperative is to act on behalf of its members. Every credit union member is an equal owner with equal voting rights. Credit unions offer all of the same products and services as traditional banks, but credit unions are also not-for-profit organizations and return any earnings they make to their members. We are dedicated to providing superb customer service and cultivating member loyalty.


The boards of directors of credit unions are volunteers, as are the supervisory committee members that oversee the activities of the credit union with respect to risk management. This isn't the case at banks, where board members are paid, often quite handsomely.

Better for you and your wallet

Almost always, credit unions are the better alternative for the consumer. Traditionally, credit unions have lower rates on loans and higher rates on savings. A lower loan rate or a higher investment rate means more money in your wallet. Plus, credit unions offer great electronic offerings including online banking, bill payment, and mobile banking. In addition, credit unions consistently, year after year, outshine other financial institutions in the area of consumer/member satisfaction.

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