What is a Credit Union?

Credit unions are modern financial institutions that offer a variety of products and services, such as savings and checking accounts; car, mortgage, and personal loans; ATMs; bill pay; and online and mobile banking. But its shareholders are everyday Americans who do business with the credit union, unlike other financial institutions.

Credit unions are safe and sound places to bank. Every credit union is regulated and examined consistently by the National Credit Union Administration (NCUA)— the U.S. government agency—or a state credit union government agency, ensuring the safety and soundness of its operations. The NCUA insures deposits up to at least $250,000.

There's a credit union for everyone. One misconception about credit unions is the only way to join is through a group, such as your school or job. Some even think you have to belong to a union. Though there are credit unions that serve particular jobs, schools, and even unions, you can join one even if none of this applies to you. There may be a credit union serving your neighborhood! Or, you may be eligible through a family member, community group, association, or place of worship. Use our locator to find a credit union near you.