What is the difference between a credit union and a bank?

Credit unions are not-for-profit financial cooperatives operating under a common philosophy of “people helping people”.

Credit unions may look like banks in many ways, but our primary purpose is service to our members. When you join CCCU by opening a savings account, your initial deposit (or “par-value share”) of $5 represents your stake in the credit union, making you a member-owner.

Credit unions aim to take their profits in excess of expenses and reserves, and return them to their members. This is done in the form of lower loan rates, higher savings rates and lower fees. It’s what makes credit unions different and sets us apart from other financial institutions. It’s what makes a member more than just a customer. Credit unions truly are people helping people.

To learn more, please visit our About Us page.