Cooperative Credit Union: Building a Better Financial Future

Cooperative credit unions are not-for-profit financial cooperatives owned and controlled by their members. They offer financial services and products to their members, who share a common bond, such as working for the same employer or living in the same area.

As a member-owned credit union, decisions are made by the members, not by external shareholders. This means that the credit union's primary goal is to serve its members, not to maximize profits.

Credit unions are known for their low fees and higher savings rates compared to traditional banks. For example, a credit union might offer a higher interest rate on savings accounts or lower fees for checking accounts.

By pooling their resources, credit union members can enjoy better financial services and products, which can lead to a more stable and secure financial future.

Credit unions are voluntary, not-for-profit financial cooperatives, offering services to people willing to accept the responsibilities and benefits of membership, without gender, social, racial, political, or religious discrimination.

We're owned and controlled by our members, each with one vote, regardless of financial status, to help make policies and decisions.

Members contribute to our capital and benefit from profits in proportion to their relationship and use of our products and services.

We're independent and self-reliant, controlled by member-owners, not outside stockholders.

We provide education and training for members, elected representatives, and employees to contribute effectively to the cooperative.

Here are the seven Cooperative Principles that guide our actions:

We also support diversity, equity, and inclusion as a shared credit union cooperative principle, taking a leadership role in building and serving more diverse, equitable, and inclusive communities.

Cooperative credit unions are owned and controlled by their members, with a simple yet powerful principle: one member, one vote. This ensures that every member has an equal say in the decision-making process.

This democratic approach to governance is a fundamental aspect of cooperative credit unions, providing members with a real voice in the direction of the organization.

Credit unions are voluntary, cooperative organizations that offer services to people willing to accept the responsibilities and benefits of membership.

They operate as not-for-profit institutions, which means they don't prioritize making a profit over serving their members.

Members are drawn from defined fields of membership, creating a sense of community and shared purpose.

This approach ensures that members are invested in the success of the credit union and are more likely to receive personalized service.

In a cooperative, members have a say in how the organization is run, with each member having one vote. This ensures that everyone's voice is heard and valued.

Members are the owners of the cooperative, and they contribute to the capital by participating in the organization's activities. They also have a say in how the capital is used, which benefits them in proportion to their transactions with the cooperative.

Members of credit unions, for example, recognize benefits in proportion to the extent of their financial transactions and general usage. This is why credit unions often offer better rates, fees, and service than for-profit financial institutions.

The democratic member control aspect of cooperatives is a key feature that sets them apart from other types of organizations. It allows members to work together to make decisions that benefit everyone, rather than just a select few.

Cooperative credit unions focus on the needs of their members, but they also work for the sustainable development of their communities. This means they're dedicated to helping people of modest means through policies developed by the members themselves.

These principles are rooted in the philosophy of cooperation and its core values of equality, equity, and mutual self-help. This approach is all about people working together to achieve a better life for themselves and their community.

Cooperative credit unions are founded on the idea that everyone deserves a fair chance to improve their lives, and they strive to make a positive impact on the communities they serve.

Digital banking is a breeze at our cooperative credit union. You can make seamless, secure payments and access your account information online or through our mobile app.

We offer a range of services to make managing your account easy and cost-efficient. You can access your account activity, pay bills, and even receive electronic statements.

Our services include HomeCU (Online Banking), Mobile Banking, E-Statement, Bill Pay Service, and inexpensive imprinted drafts (checks) with duplicate copies for easy record keeping. You can also receive monthly statements of account activity sent directly to your home.

Here are some of the services you can expect from us:

Easy account management is a breeze with our services. You can manage your account online through HomeCU, which offers 24-hour access to your account information.

Our mobile banking app allows you to check your account balance and make transactions on the go. You can also receive monthly statements of account activity sent directly to your home.

For those who prefer a more traditional approach, we offer inexpensive imprinted drafts (checks) with duplicate copies for easy record keeping. These checks are a convenient option for making payments.

You can also opt for E-Statements, which allow you to access up to 24 previous months of statements online 24 hours a day.

Our friendly and helpful staff are always available to assist you at any of our branches. You can also take advantage of our 24-Hour Audio Response service, which allows you to call and access your account information at any time.

Here are some of the key features of our account management services:

Additionally, we offer optional overdraft loan protection to help cover those unexpected overdraft errors. Automatic transfers from savings can also be set up to cover overdraft errors, if funds are available.

Our Courtesy Overdraft Privilege service is designed to help you avoid overdraft fees and potential damage to your credit rating.

This non-contractual service allows you to pay items up to $400 without incurring additional costs.

You can use Courtesy Overdraft Privilege to cover transactions like checks, automatic debits, ATM withdrawals, and Debit Card Sales.

It's a free service unless you actually use it, which means you won't pay a fee unless you need to.

With Courtesy Overdraft Privilege, you can avoid merchant fees and late fees, saving you money in the long run.

You can even manage your account online through our banking website or mobile app.

Cooperative credit unions offer a range of opportunities for growth and development. By participating in Co-op Shared Branch, credit unions can expand access to services and generate income through increased member engagement.

This shared branch network provides convenience to both new and existing members, allowing them to access services nationwide without the need for a brick-and-mortar investment. It's a win-win for both the credit union and its members.

One of the key benefits of Co-op Shared Branch is the availability of self-service savings through extensive express terminals. This allows members to manage their accounts efficiently and effectively.

To further support the growth and development of credit union leaders, the Credit Union Development Education Program (CUDE) offers training for established and emerging leaders. This signature program provides valuable insights and skills to help credit unions thrive.

The program helps credit unions overcome 12 interconnected barriers to well-being and prosperity for their members, staff, and communities. Understanding these development issues is crucial for any credit union looking to grow and succeed.

Expanding access, generating income, and driving growth are all crucial aspects of a credit union's success.

Using Co-op Shared Branch can provide convenience to both new and existing members, making it a great option for those who want to access their accounts without the hassle of traveling long distances.

Member retention is also a major benefit of Co-op Shared Branch, as it allows members to access their accounts nationwide without the need for a brick-and-mortar investment.

By utilizing Co-op Shared Branch express terminals, members can enjoy self-service savings and increased convenience.

Increased member engagement also leads to income opportunities, as members use more services and take advantage of the convenience offered by Co-op Shared Branch.

Guest-member visits can also generate incremental revenue for participating credit unions.

Here are some key benefits of Co-op Shared Branch:

Expanding access and generating income for credit unions is key to driving growth. You can use Co-op Shared Branch to achieve this, offering convenience to both new and existing members.

By participating in Co-op Shared Branch, credit unions can retain members through nationwide reach without the need for a large brick-and-mortar investment. This is a game-changer for credit unions with limited resources.

Co-op Shared Branch also provides self-service savings through extensive express terminals. Members can access their accounts and conduct transactions easily.

Increased member engagement is another benefit of Co-op Shared Branch, leading to income opportunities for credit unions. As members use more services, credit unions can capitalize on this growth.

Guest-member visits can also generate incremental revenue for participating credit unions. This is a win-win for both the credit union and the guest member.

Credit unions can also invest in their leaders through the Credit Union Development Education Program (CUDE). This program is designed for established and emerging credit union leaders.

The CUDE program provides a comprehensive training experience for credit union leaders, helping them navigate the challenges of growth and development.

Unfortunately, credit unions face 12 interconnected barriers to well-being and prosperity for their members, staff, and communities. These barriers, known as Development Issues, can be a significant obstacle to growth and success.

Here are the Development Issues in a concise list:

Having access to convenient branches is a high priority for consumers in all demographics. Thousands of locations from coast to coast make it easier for people to access their credit union services.

The Co-op Shared Branch network allows members of one credit union to perform a range of transactions at another credit union. This means you can use your credit union services even when you move or travel to a different area.

Co-op Shared Branch express terminals provide after-hours member access, reducing teller traffic and helping you leverage your existing investment in ATMs.

Credit unions are unique in their structure and operations. They're not for profit cooperatives, meaning any surplus is returned to members in the form of dividends.

Here are some key differences between credit unions and other financial institutions:

This unique setup allows credit unions to offer better rates and fewer fees to their members. Members also have a say in how the credit union is run, as they're part of the decision-making process.