Credit unions, by definition, are nonprofit financial cooperatives that offer their members a rewarding community approach to finance, along with checking and savings accounts, credit cards, and home, auto, business and agriculture loans.
Membership within credit unions can be based on a variety of characteristics including employer, location and family. For example, to qualify for membership at Town & Country Credit Union, an individual must:
These individuals are not just customers of the credit union – they own it! Members are encouraged to:
Regardless of account size, each member casts a vote, and they all count as equals.
The community approach of a credit union goes further than ownership alone. Profits generated within the credit union are retained within the organization and are returned to the members in the form of:
Better products and services
Competitive interest rates
Philanthropic giving within the communities they serve
A credit union pools the deposits of its members to fund low-interest loans, reducing or eliminating reliance on outside capital.
On top of the products, services and rates, credit unions are known for providing personalized service to positively impact their member's financial success.