credit union principles

Credit unions operate on key principles designed to promote community and member welfare. They are member-owned, meaning each person who joins has a say in how the organization is run, typically on a one-member, one-vote basis. Surpluses are returned to members in the form of lower fees and better rates, rather than being profit-driven. They focus on helping members access affordable financial services and foster a sense of community. Credit unions prioritize service over profit, which helps create a supportive financial environment for their members and often leads to greater financial literacy and empowerment.