A credit union is a cooperative organized to serve a specific group of people rather than the general public. lt allows members to pool their resources for their common benefit. Banks are owned by investors, but credit union members truly own their own institution. H&E Telephone Federal Credit Union is a federally insured financial cooperative serving employee groups since 1967. It was originally formed for employees and family members of New Jersey Bell and AT&T. Now, H&E also serves HPAE at Englewood Hospital and several other member groups.