A Credit Union is a non-profit financial cooperative that is formed, owned and operated for a single purpose: to help members help one another financially. Members pool their savings creating a source of funds for loans, which are made available to members at reasonable interest rates. The interests from these loans are returned to the membership in the form of lower loan rates, higher interest on deposits, and lower fees. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. The credit unions board and committee members are elected by the members and serve in a volunteer capacity. The most important benefit of credit union membership is simply that you belong to an organization whose purpose is to serve its members.