credit union member

A credit union member is an individual who belongs to a credit union, a member-owned financial institution that provides services like savings accounts, loans, and other banking products. Unlike traditional banks, credit unions are not-for-profit and prioritize serving their members rather than maximizing profits. Members often share a common bond, such as belonging to the same community or organization. By joining a credit union, members typically benefit from lower fees, better interest rates, and a more personalized banking experience. Membership may require an initial deposit, which helps fund the credit union's operations and services.