Credit Union Cooperative

A credit union cooperative is a nonprofit financial institution owned and operated by its members. Unlike banks, which seek profits for shareholders, credit unions focus on serving members’ financial needs, offering savings accounts, loans, and other services at competitive rates. Members typically share a common bond, such as community, employer, or association membership. Profits are reinvested into the cooperative or returned to members as dividends, fostering a collaborative, community-oriented approach to banking that emphasizes financial well-being and member benefits.