Consider Joining a Credit Union Today

All CompleteEd™ loan borrowers are required to be credit union members. If you are not currently a member, now is the perfect time to join. Credit unions offer those heading off to college everything from checking accounts to credit cards with better rates and lower fees than most banks offer. There’s a credit union for just about everyone. Find a credit union now.

What Is a Credit Union?

A credit union is a cooperative financial institution owned and controlled by the people who use its services. Credit unions are run by members, for members. Credit unions serve groups that share something in common, such as where they work, live, worship or other affiliation. So they usually have deeper local ties and more personalized service than other financial institutions.

Credit unions exist to provide a safe, convenient place for members to get financial products and services similar to banks. But while most banks must answer to shareholders, credit unions answer only to their members. As non-profit organizations, credit unions pass the savings from lower operating costs along to members. As a result, members generally earn higher interest on money invested, get lower APRs on loans, and pay fewer or lower fees than they would at most banks.

Credit unions, like other financial institutions, are closely regulated. And they operate in a very prudent manner. The National Credit Union Share Insurance Fund (NCUSIF), administered by the National Credit Union Administration, an agency of the Federal government, insures deposits of credit union members at more than 8,000 Federal and state-chartered credit unions nationwide. Deposits are insured up to $250,000, the same as a bank.

A Proud History Lives On

In 1935, when credit unions were helping Americans through the Great Depression, a member declared that credit unions were "not for profit, not for charity, but for service." And that philosophy still holds true today.

Credit unions continue to look out for their members' interests and provide a level of service that is not generally available at other financial institutions. Whether it is providing a loan to help a member cover unexpected medical bills, giving financial counseling to a member whose company closed its doors or simply offering a better deal on a car loan, credit unions make a difference for their members and the communities they serve.

To This Day, Credit Unions Live by These 7 Guiding Principles:

1. 1. Voluntary Membership

   Credit unions are voluntary, cooperative organizations, offering services to people willing to accept the responsibilities and benefits of membership, without gender, social, racial, political or religious discrimination.

2. 2. Democratic Member Control

   Credit unions are owned and controlled by their members—one member, one vote—with equal opportunity for participation in setting policies and making decisions.

3. 3. Members' Economic Participation

   Members are the owners. As a result, they contribute to and control credit union assets.

4. 4. Autonomy and Independence

   Each credit union is autonomous. All decisions are made by members.

5. 5. Education, Training and Information

   Credit unions place particular importance on educational opportunities for their volunteer directors, and financial education for their members and the public, especially the nation's youth.

6. 6. Cooperation Among Credit Unions

   Credit unions serve their members most effectively and strengthen each other by working together through local, state, regional, national and international structures.

7. 7. Concern for Community

   While focusing on member needs, credit unions also work for the sustainable development of communities, including people of modest means, through policies developed and accepted by the members.

Who Can Join?

Just about anyone can join a credit union! To become a member, you must belong to an organization, school, religious group, profession, live in a specific geographic area or have another affiliation that a credit union represents. With such a wide range of affiliations, there is a credit union for just about everyone. Click the Credit Union Finder to find a fit.

Benefits of Credit Union Membership

• Lower APRs than most banks, plus better terms and lower fees on loans and credit cards
• Generally better rates of return on savings accounts, interest-bearing checking accounts and CDs
• Low rates and fees on mortgages, equity loans and credit lines
• Fee-free or low-fee checking accounts and ATMs
• Low minimum balances to open and maintain an account
• Accounts insured up to $250,000 by the U.S. government

Financial Products and Services Vary with Individual Credit Unions, and Often Include:

• Federal and Private Student Loans
• Checking Accounts
• ATM Services
• Deposit Savings Accounts
• Individual Retirement Accounts
• Certificates of Deposit
• Money Markets
• Auto Loans
• Mortgages
• Home Equity Loans
• Credit Cards