Community Credit Union

A Community Credit Union is a nonprofit financial institution that serves a specific community, often based on location, profession, or membership in a certain organization. Unlike traditional banks, credit unions are owned by their members, meaning profits are returned to members in the form of lower loan rates, higher savings rates, and fewer fees. They offer similar services to banks, including savings and checking accounts, loans, and financial education. By focusing on community needs, they aim to promote financial well-being and strengthen local economies, fostering a sense of belonging and mutual support among members.