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Credit unions are unique organizations in the financial services sector because they are not-for-profit institutions. This means that credit unions exist to provide exemplary service to consumers, which they call members. At a credit union, members are owners of the organization and have an equal voice in the credit union’s operations, regardless of the amount they have on deposit. Due to their unique structure, credit unions strive to meet their members’ needs and expectations – not profit from them.
NEW! Credit Unions & MnCUN (pdf)
Credit Unions 101
What is a credit union? How are credit unions different than banks? These are commonly-asked questions by consumers looking to find an alternative to for-profit financial institutions. In the Credit Union 101 section, you learn more about what makes Minnesota credit unions unique and how they benefit all people from all walks of life.
Credit Union History
U.S. credit unions have a rich history that dates back to 1908. More than 100 years ago, the first credit union in the United States – La Caisse Populaire Ste-Marie, or St. Mary’s Bank – was organized on Nov. 24, 1908, in Manchester, N.H. Over the past 100 years, credit unions have multiplied and grown. Today, more than 7,000 credit unions exist nationwide. Learn more about the history of both the U.S. and Minnesota credit union movement.
Five Ways to Find a Credit Union
Joining a credit union is easier than you think. Discover five simple ways you can find a credit union you are eligible to join.
Forming a Credit Union
Are you part of a group of people who desire to form a credit union to serve people in a particular community, organization or nationality? If so, find out how to get started in forming a credit union.
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