What is the purpose of a credit union?

The Credit Union Purpose!

The primary purpose in furthering their goal of service is to promote financial dignity to all. We encourage members to save money and offer low interest loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.

See Also:

The Difference between a Credit Union and a Bank
How to Join?
Who Can Join?

 

Posted in: General FAQs