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What is a Credit Union?

A credit union is a financial cooperative, owned and controlled by the people who use its services. We call our owners “members.” That means that all of the money we make goes back to you, our members. It’s your money to begin with, and it’s pooled with the resources of all other credit union members.

Credit unions serve people who share something in common, such as where they work, live, occupational background, or church affiliation. We are not-for-profit and exist to provide a safe, convenient place for members to save money at higher rates of return, and to receive loans at reasonable rates. Most importantly, credit unions provide greater and friendlier service to the membership, as well as dividends.

Why does that matter?
We don’t have any outside stockholders. As non-profit organizations, credit unions are exempt from certain tax requirements. So, all of the money that’s deposited in our accounts, all of the interest collected on our loans, every dollar that comes into a credit union stays with the credit union. That money is used to keep loan rates low and savings rates of return high

What does that mean?

  • It means a great rate on a Share Certificate of Deposit.
  • It means low or no fees on many financial transactions.
  • It means we can focus on serving you, the member.

In short, it lets us maintain a bottom line not of profits, but of people. Credit Unions in Arkansas, a great fit for life.

Credit unions, like other financial institutions, are closely regulated. We operate in a very prudent manner. The National Credit Union Share Insurance Fund (administered by the National Credit Union Administration, an agency of the Federal Government), insures deposits of credit union members at credit unions nationwide.


What is a Credit Union? Find A Credit Union

What is a Credit Union?