S credit union

An S credit union is a member-owned financial cooperative that provides banking services like savings accounts, loans, and checking accounts. Unlike banks, which are profit-driven, credit unions focus on serving their members by offering better interest rates and lower fees. Membership is typically limited to a specific group, such as employees of a company, residents of a community, or members of an organization. Because they are nonprofit, any profits are returned to members through improved services and rates. S credit unions aim to support their members’ financial well-being through personalized service and community-focused initiatives.