Credit Union 101: What Makes a Credit Union Different?

You use your credit union to deposit checks, get loans, use your debit card and manage your money—but have you ever wondered what actually makes a credit union a credit union?

Here are a few fun facts that make credit unions a little different from other financial institutions.

🧑‍🤝‍🧑 You’re a Member, Not Just a Customer

When you join a credit union, you become a member-owner. Credit unions are not-for-profit financial cooperatives created to serve their members.

🗳️ Members Have a Voice

Credit unions operate under the principle of one member, one vote. Your vote isn't based on how much money you have on deposit.

💰 Profits Go Back to Members

Rather than focusing on generating profits for outside stockholders, credit unions return earnings to members through things such as competitive loan rates, savings rates, lower fees and improved services.

🏡 Credit Unions Are About Community

Credit unions often have strong ties to the communities they serve. Your deposits help your credit union make loans and provide financial services to other members—including your friends, neighbors and local families.

🤔 Did You Know?

The word “union” really does fit! A credit union is a group of people joining together to help provide financial opportunities for one another.

💙 The Credit Union Difference

At Erie Community Federal Credit Union, we're proud to be member-owned and focused on the people and communities we serve.

You're not just banking here—you belong here.