Credit unions are not-for-profit financial cooperatives.  People with a common bond form credit unions based on a mutual association such as where they live, work, or worship.  You join a credit union by purchasing shares.  When you purchase the par-share, or minimum opening deposit you become a member and an owner.  

Credit unions refer to savings as shares because shares represent the portion of ownership of each member. 

 All member-owners enjoy the benefits of the cooperative.  Excess funds are returned to the membership in the form of lower interest rates on loans and higher dividends on shares. Members can obtain financial products and services at reasonable prices and pay less in service charges and fees.

Credit unions are also democracy in action.  The membership elects fellow members who volunteer to serve on the credit union’s Board of Directors.

Credit Unions provide consumer choice and their philosophy of People Helping People enables even those of modest means to attain financial literacy.