What is a Credit Union?

The credit union cooperative concept originated in Germany during the mid-1800s. A group of farmers, tired of high prices and outrageous interest rates, combined their money to buy supplies and establish a common pool for members to borrow from at lower interest rates.

Today’s Credit Unions are similar.

A Credit Union is a member-owned and not-for-profit financial cooperative. Unlike traditional banks, which are owned by shareholders and operate for profit, credit unions are not-for-profit organizations. Deposits provide money for members who need loans and other financial services at competitive rates. . Members usually earn higher dividends on savings and pay lower interest rates on loans. Credit unions typically offer a range of services similar to those of banks, including savings accounts, checking accounts, loans (such as mortgages, auto loans, and personal loans), credit cards, and online banking. Credit unions are regulated and insured, similar to banks, typically by government agencies such as the National Credit Union Administration (NCUA).

Although Credit Unions have changed over the years to meet the demands of their members, our long-standing philosophy of people helping people has remained the same.


*APR as low as, ask for details. All rates are dependent on your credit rating.