For Your Info...

What's A Credit Union?

As most of our members know, Section 705 is a Federal Credit Union. However, many of you may not fully understand exactly what makes us a Credit Union or how our financial services differ from others. We think it's important for you to know exactly why you should choose a Credit Union for your financial needs.

A credit union is a member-owned, not-for-profit, cooperative financial institution. Credit Unions serve people all over the world helping to improve their way of life by serving their financial needs. Unlike many other financial institutions, Credit Unions are owned by our members, so we take member satisfaction very seriously. We return excess earnings to our members in the form of lower interest rates for loans and higher yields on savings and investment accounts.

A Credit Union operates under the leadership of a volunteer Board of Directors. These directors are elected from the membership base. You can find a list of our Section 705 FCU Board of Directors here. As always, we love hearing from our members, so if you would like any additional information, please feel free to contact us anytime.