"Not for profit, not for charity, but for service"

 

What is a credit union?

A federal credit union is a not-for-profit cooperative financial institution owned and operated by its members. Credit unions provide their members with a safe place to save and borrow at reasonable rates. By pooling their financial savings, members are able to provide themselves with loans and other financial products and services.

 

Credit unions are democratically governed. Each member has one vote and is represented by a member-elected, volunteer board of directors.

 

The primary purpose of credit unions is service to their members, which is exemplified by the credit union motto: "Not for profit, not for charity, but for service."

 

Who can join a credit union?

Credit unions are organized to serve a group of people with a common bond, such as where they work, live or go to church. This is called a field of membership. To join a particular credit union, you must be eligible for membership in that credit union. Find out who is eligible for AMPLIFY membership.

 

Your funds are insured

Credit unions, like other financial institutions, are closely regulated and are operated in a prudent manner. The National Credit Union Share Insurance Fund (NCUSIF), administered by the National Credit Union Administration, an agency of the federal government, insures deposits of credit union members up to $250,000.