picture of business people lined up

What are Credit Unions?

Credit unions are financial institutions formed by an organized group of people with a common bond. Members of credit unions pool their assets to provide loans and other financial services to each other.

Credit Unions differ from other banks in many ways: 

Credit Unions

Other Financial Institutions

Not-for-profit cooperatives For profit financial corporations
Owned by Members Owned by outside stockholders
Operated by mostly volunteer boards Controlled by paid boards