What Is a Credit Union?

A credit union is a financial cooperative owned and operated entirely by the member/owners who save and borrow at the credit union. It is a “not-for-profit” financial cooperative organized for the purpose of promoting savings and providing credit at favorable interest rates.  Compare the current rates using DataTrac.

Credit Unions are owned and operated by their members with each one possessing equal rights to vote – one member, one vote without regard to the amount of savings, deposits, or volume of business.   Find out more on the Credit Union Difference. 

How to Join?

As of March 2008, there are more than 8,700 credit unions in the United States and 56 in the state of Arizona. A consumer is eligible to join based on a common bond: such as workplace, church, fraternal organization, or neighborhood. Find a Credit Union that is right for you.

What Services Are Offered?

Each credit union offers a unique range of services, depending on the need of the credit unions unique membership. These range from only savings accounts to credit unions that offer a myriad of services:

• Car loans
• Small business loans
• Home equity loans
• Mortgage loans
• Financial planning
• IRA
• Credit cards and more

One unique service that many credit unions provide is shared branching. This would allow a member of a credit union that belongs to the shared branching network to make deposits and withdrawals at another participating credit union. Locate a Shared Branch near you.