Philosophy and Structure     

Credit unions are democratically owned and controlled institutions based on "people helping people" principles. Members elect credit union boards of directors; each member has an equal vote, regardless of how much he or she has on deposit. Only members may serve as directors or committee members, and they serve without compensation. Credit unions have no outside stockholders, so after reserves are set aside, earnings are returned to members in the form of higher dividends on savings, lower loan rates and lower cost services.