Credit Union Difference

Why join a credit union? 

140 million satisfied credit union members throughout 90 countries will tell you why:

• Not for Profit Democratic Structure – ownership in their financial institution
• Quality service to Members
• Social Goals – People helping People

When you become a credit union member, you’re really joining a financial cooperative.  Together, you and your fellow members pool your savings (called ‘shares’) in order to offer loans, savings, dividends and financial services to other members.  Unlike banks, where profits are paid to shareholders, your credit union’s ‘profits’ are returned to you and your fellow members, in the form of a dividend, lower fees and superior service.  Banks are in business to make a profit, Credit Unions are in business to maximise service.
Because credit unions are democratic, member owned and controlled cooperatives, members have the power to direct credit union policy.  If the majority of members are dissatisfied with the directors who set the policies of the credit union, they have the power to replace them.  Credit Union elections are based on a one member, one vote structure and only members can be on the Board of Directors.

Credit Unions

  • Not for Profit cooperatives
  • Return earning to members through dividend, lower fees & superior service
  • Make loans only to their members, which both serves their membership and ensures that capital remains with the community served
  • Have member/owners – each person who deposits money has a share of the ownership
  • Board of Directors is elected by the membership
  • Have a volunteer Board of Directors that serve for no compensation
  • Can serve only those individuals within their field of membership
  • Are service driven – we care about people.

For more information about Credit Unions worldwide visit the World Council of Credit Unions:-

                      WOCCU acts as the leading voice for advocacy and governance on behalf of the international credit union community. WOCCU continues to promote economic freedom and the sustainable growth of financial cooperatives across the globe through education, collaboration and community-based development projects.


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