credit union membership

Credit union membership refers to being part of a member-owned financial cooperative that offers savings accounts, loans, and other financial services. Unlike traditional banks, credit unions focus on serving their members rather than making profits. To join, individuals typically need to meet specific eligibility criteria, such as living in a certain area or working for a particular employer. Members benefit from lower fees, competitive interest rates, and a say in how the credit union operates, as they can vote on board members and policies. Essentially, credit unions emphasize community and shared goals among their members.