What is a Credit Union?
A credit union is a financial institution that provides savings, credit and other financial products and services to its members. Credit unions are cooperatives – they are owned and operated by members and profits are shared among owners. They are governed by a volunteer board of directors elected from their membership.
After you make your first deposit in a credit union, you become a member. All members are equal owners in the credit union and have a vote in electing the board members.