We believe in people over profit, and that impacts the way that we do business. From our overall structure down to the smallest detail, the credit union philosophy sets us apart.
| Feature |
Credit Unions |
Banks |
| PHILOSOPHY |
Democratic, member-owned cooperative. "Not-for-Profit, not for charity, but for service." |
Business orientation to generate profit for outside shareholders. |
| DIRECTORS |
Unpaid volunteer Board of Directors elected by its members. |
Paid Board of Directors elected by shareholders. |
| SERVICES |
Consumer services - savings, loans and checking accounts. Financial Counseling. |
Consumer and commercial. Loans, savings, checking and loan corporate trust services. |
| RATES / FEES |
Typically higher dividends on savings, lower loan interest rates and fewer fees. |
Charge more and higher fees than Credit Unions. |
| SAFETY |
Deposits in all Federal Credit Unions are insured up to $250,000 by the National CU Share Insurance Fund (NCUSIF). |
Nearly all accounts are insured up to $250,000 by a government agency. |