Since 1961, members of the HMSA Employees' Federal Credit Union have benefited from its many products and services. Because it is nonprofit, the Credit Union is able to use funds to help members improve their financial health. As a member, you "own" the HMSA EFCU. You elect a board of directors in a democratic process. The directors, who are volunteers, establish and approve plans and operational policies. Your Credit Union pays one of the highest dividend rates in the state on savings and charges very low interest rates on loans. While credit unions offer many of the same products and services as other financial institutions, they may use different terminology, such as "share account" instead of "savings account", "share draft account" instead of "checking account", or "dividends" instead of "interest". You can request for loans to consolidate bills, purchase new or used cars and motorcycles, finance education expenses or a vacation, establish a home equity line of credit, or to finance any other financial need -- all at excellent rates. Loan rates are published here in our quarterly newsletter that's mailed to members and are also available via TellerTalk (a voice-response banking system).