Because credit unions are democratic, member-owned cooperative, members-like you - have the power to direct credit union policy. Each year, the credit union holds an annual election and meeting, where members select candidates for the Board of Directors, from among their peers, to represent them in setting the policies of the credit union. Credit union elections are based on a one-member, one-vote structure. This structure is unlike the for-profit, public companies where stockholders vote according to the number of shares of stock they own.

Besides the member-ownership advantage, the not-for-profit status of credit unions enables them to operate at a lower cost than many for-profit institutions, and helps them to offer competitive loan and savings rates to you, the member.