Throughout its 150-year history, the credit union movement has been defined by the simple but significant philosophy of “people helping people.” A credit union is a cooperative financial institution designed to provide its members efficient, low-cost savings and loan options and other financial services. Every credit union is owned and governed by the people who use its services – its members.

Not-for-profit, democratically controlled and cooperative in nature, credit unions today number into the thousands worldwide and serve millions of consumers. In the United States, approximately 7,900 credit unions currently operate, serving 90 million customers.

Corporate and retail credit unions today remain as unique as their history. As cooperatives, credit unions work hard to position themselves competitively in the financial marketplace by emphasizing their basic cooperative philosophy and democratic principles. By keeping pace with emerging technology, flexible service capabilities and income opportunities available in the marketplace, corporate credit unions have evolved to meet changing demands for financial services. Corporate credit unions also continuously research and develop financial products designed to help retail credit unions assist their members, enabling credit unions to remain competitive and allowing them to continue flourishing.