What is a Credit Union, explained by 1st United CU
Hey Neighbor! We’re 1st United Credit Union and you may be asking, “What’s a Credit Union?” Well, we’re a financial institution that provides all kinds of financial services like checking accounts, credit cards and loans. But wait wait, doesn’t that mean you’re a bank? No, no, no… A bank’s job is to maximize profits from the people depositing money and give it to the shareholders. A Credit Union, on the other hand, is a non-profit cooperative, which makes you the owner. So any profits earned go back to our members in the forms of lower interest rates, higher savings rates, and lower fees on checking. So why would anyone use a bank instead of a Credit Union? What’s the catch? Actually, there isn’t a catch. We’re your local big bank alternative and
we’re always out in the community donating our time and money to support your local causes. We do local banking. You do life. Come check us out today!