About Credit Unions
Your credit union is a federally insured cooperative financial institution, owned by its members. Unlike a bank or savings and loan association, a credit union is a not for profit financial cooperative and dedicated only to serving its members who share a common bond. Credit Union members pool their money to make their collective savings available for low cost loans to each other.
Since credit unions are nonprofit, earnings are distributed to members either in the form of better rates on savings or rebates on loans, or are invested in new or improved services for the members. Once you deposit money in the credit union, you become a member and shareholder. You can then vote for the credit union’s board of directors. Officers and directors are chosen from the membership and serve on a voluntary basis.
Board Applications are due no later than December 28, 2018.