A credit union is a financial cooperative composed solely of member-owners who share the philosophy of “not for profit, but for service.” Unlike some financial institutions, the people on our volunteer Board of Directors are member-owners, who work in the best interest of other fellow member-owners. Since the Board of Directors are volunteers, profits are returned to members in the form of lower loan rates, low or no-fee products and services, and higher savings rates. Members at a credit union are member-owners because his or her deposit represents a share of ownership; however at a bank, the owners are typically small groups of investors. Credit union members are united by a common bond of membership.