ABOUT CREDIT UNIONS
Credit unions are not-for-profit financial cooperatives. This means that after covering operating costs, earnings are distributed to their member-shareholders—often through lower rates on loans, higher earnings on deposited funds, and more affordable service fees. Every individual who has an account at a credit union is a member, which means they are also a shareholder and entitled to the benefits of membership.
Credit unions help strengthen communities worldwide and follow a set of international operating principles that help guide governance decisions and set high standards for operations. The Principles can be categorized in three areas:
Open & Voluntary Membership
Service to Members
Distribution to Members
Building Financial Stability
Cooperation Among Cooperatives
Learn more by viewing the World Council of Credit Union’s International Operating Principles (PDF).