Membership
MEMBERSHIP

 

What's a Credit Union?

Though many credit unions seem like banks, they're very different.

Difference #1
A credit union is a not-for-profit financial services cooperative that is owned by the people who save and borrow there. When you join a credit union by opening a savings account, you become of a shareholder with the right to vote for credit union officers. Credit union members are treated with respect and dignity because they're not just customers - they're owners.

Difference #2
Credit unions are the only democratically controlled financial institutions in the United States. You and other members elect qualified, unpaid volunteers as the board of directors to oversee the credit union.

Difference #3
Credit unions can pay higher than average interest rates on savings and charge more favorable rates on loans because they have lower operating overhead than other financial institutions. The money the credit union makes is returned to members in the form of better rates and lower fees.

Difference #4
In the U.S., credit unions have been the favorite among consumers surveyed in the American Banker satisfaction survey every year. Just recently credit unions took over the top ranking in trustworthiness as well. Your funds at your credit union are insured up to $250,000.

Interested?
Apply for a Savings (Membership) Account. Call (518) 783-2211 or 1-888-783-2211 for more information.