Credit Unions are different. They are financial not-for-profit cooperatives that are solely owned by their membership. Credit unions don’t have stockholders whose vote is based on how many shares of stock they own. Members of credit unions get to vote individually and have a direct impact on the direction of the credit union through a democratic process.
Unlike a traditional for-profit bank, “profits” made by the credit union are returned to the member in the form of lower fees, higher dividend payouts, and lower loan rates. Also, at a credit union, your money is federally protected and is insured by the National Credit Union Administration, or NCUA, for deposits up to $250,000.
Benefits of a credit union include:
The characteristics that make credit unions different are the same that makes Golden 1 Credit Union a better way to bank. We’ve built our cooperative on the philosophy of “people helping people” and values that help our members be Stronger Together.
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Federally insured by the NCUA.