Labor Credit Unions

Labor credit unions are financial cooperatives owned and operated by members who typically share a common profession or industry, such as teachers, firefighters, or healthcare workers. They offer banking services like savings accounts, loans, and mortgages, often with better rates and lower fees compared to traditional banks. Because they are member-focused, profits are reinvested to benefit members through improved services and rates. Membership is usually based on a shared occupational or organizational affiliation, fostering a sense of community and trust. Labor credit unions aim to support members' financial well-being while maintaining a cooperative, not-for-profit, structure.