Controlling your own financial services
Credit unions are owned and controll
ed by their members.
They are run ‘by the members, for the members’, so as a credit union member you have a real say in how your financial service provider operates.
As co-operatives, credit unions are founded on the values of self-help, responsibility and self-organisation. Their top priority is to serve members’ interests. As well as offering accessible and affordable loans and savings products, credit unions are not driven to make money for external shareholders but have to make decisions in the best interest of their members.
Credit unions can only offer products to members.
Each year credit union members elect a board of directors to represent their interests. The board then employs a manager or chief executive officer (CEO) who is responsible, with employees and volunteers, for the day-to-day management of the credit union.
The co-operative values and principles of credit unions mean members have full control of their own financial business, keeping the benefits in the community.
