The Credit Union Difference

Credit unions are not-for-profit organizations that exist to serve their members. Like banks, credit unions accept deposits, make loans and provide a wide array of other financial services. But as member-owned and cooperative institutions, credit unions provide a safe place to save and borrow at reasonable rates, providing a huge cost savings along the way.

Member-Owned
You are more than a member, you are a part owner.
Credit unions are owned and controlled by the people, or members, who use their services. A volunteer board of directors is elected by members to manage a credit union. Every member has one vote and every vote counts. Members have a say in who is elected to the board of directors.

Not-For-Profit, Not for Charity, But for Service
The credit union motto is "Not for profit, not for charity, but for service." Only credit unions are organized entirely for serviceand not for profit. Additionally, credit unions provide a level of service that consumers can't find elsewhere. All consumers, whether or not they are members, benefit from credit unions in the marketplace. Credit union competition helps keep prices lower among other financial service providers. Credit unions provide quality services, fair rates and fees, and dependable advice and information. These are the foundations of "the credit union difference."

Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to their members in the form of lower loan rates, higher interest on deposits, and lower fees. Credit unions operate to promote the well-being of their members.
The cooperative structure of credit unions creates a cycle of mutual assistance towards the common goal of the financial well-being of all members. One member's savings becomes another member's loan. Each time a member reaches their financial goals, everyone benefits.

Commitment to Service & Community Involvement
Credit unions also have a commitment to serving consumers who are sometimes ignored by other financial institutions, because they aren't considered to be high-profit customers. Credit unions exist to help people. The goal is to serve all members well, including those of modest means.
Every member counts. Credit union members are fiercely loyal for this reason. They strive to help people of all income levels manage their money effectivelythrough education, personal service, and low-cost financial services. The same people-first philosophy means that credit unions and their employees are also involved in community charitable activities and worthwhile causes, such as:
  • Financial education and outreach to consumers and in schools
  • Support of the community through event participation, sponsorships and volunteerism
  • Small business empowerment and services
Experience the Credit Union Difference at Aggieland Credit Union today!