What is a Credit Union? 

Everyone needs a place to stash their cash. But some people want their money to do more than just sit there, gathering virtual dust. Credit unions, by definition, are not-for-profit financial cooperatives that offer its members a rewarding community approach to finance, along with checking and savings accounts, credit cards, home loans, auto loans and personal loans.

A credit union provides services to its members who are united by a common bond, be it where they live, work, worship, attend school or volunteer in the Panhandle of Florida or Southern Alabama. These individuals are not just members of the institution – they own it.

Your Membership creates a Financial Community

But the community approach goes further than ownership alone. A credit union pools the deposits of its members to fund low-interest loans, reducing or eliminating reliance on outside capital. A co-worker who is saving for retirement provides the funds for another member’s car loan. One member preparing for her first home purchase virtually provides tuition for another’s son to attend his first semester of college.

Where do the profits go?

Any profits generated by the credit union are distributed and utilized to the benefit of all members. Members receive higher rates on their savings, lower interest rates on loans, and reduced fees on credit union credit cards. Members may even receive a  giveback.

“Money can’t buy happiness,” or at least that’s how the old saying goes. Yet, when you become a credit union member, your money funds happiness – all while collecting dividends…completely dust-free.