It’s a breath of fresh air. More value.
A welcome change from the usual … that’s what our members say anyway. That is, credit unions are financial cooperatives. Like cooperatives around the world, we operate according to a set of core cooperative principles—in our case 7—that we follow for the greater good of our community, credit union and member-owners.
Principle #1: Voluntary and Open Membership
Principle #2: Democratic Member Control
Principle #3: Members’ Economic Participation
Principle #4: Autonomy and Independence
Principle #5: Education, Training and Information
Principle #6: Cooperation among Cooperatives
Principle #7: Concern for Community
How credit unions differ from banks.
- Have members, not customers, and are member-owned
- Run by volunteer boards
- Provide free financial education
- Strongly tied to their local communities
- Cooperatives – working with other credit unions to provide the best products and services to members