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About Credit Unions

The credit union idea originated in Germany in the mid-1800’s when Frederick Raiffesien, mayor of a small town, became appalled at the poverty of small farmers and encouraged farmers to pool their money to make loans to each other to escape the hold of the money lenders.

This “People Helping People” philosophy quickly spread to other parts of the world. The first U. S. credit union opened its doors in 1909 in New Hampshire. After the passage of the Federal Credit Union Act in 1935, allowing credit union to be organized through the country, the idea was enthusiastically accepted throughout the United States. Today, credit unions constitute a more sophisticated financial system, but their purpose is still to meet the financial needs of the average consumer.

The Difference

Credit Unions earnings/profits are given back to our members/owners by way of better interest rates, less fees, and convenient services. Each member age 16 and older may vote to elect the volunteer board members who establish policies regarding shares, loans, investments, and the general operations of the credit union.

Safety & Soundness

NCUA administers the federal insurance fund, NCUSIF, which covers all federal credit unions. Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.


Safety & Soundness

We are examined by the National Credit Union Administration, a U. S. Government agency that examines all credit unions. No taxpayer money is used for regulating and overseeing federal credits unions. All activities of NCUA and the NCUSIF are funded by credit unions. Also, the supervisory committee,conducts periodic exams of internal procedures including the request of an external audit by an auditing firm.

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