THE CREDIT UNION PHILOSOPHY
WHAT IS A CREDIT UNION?
* A credit union is a not-for profit financial institution that is owned and run by its members.
* The Board of Directors is democratically elected by the membership.
* All members of the credit union have one vote, regardless of the amount on deposit.
* The prime function of the credit union is to serve its members.
* Credit unions focus on the needs of all their members instead of a limited number of stockholders.
WHY SHOULD YOU CHOOSE A CREDIT UNION?
* Typically, credit unions return their profits to the members by giving higher savings rates, lower loan rates and additional services.
WHO REGULATES CREDIT UNIONS?
* Federally-insured credit unions, including El Paso Employees FCU, are examined by the National Credit Union Administration (NCUA), an agency of the Federal Government.  Credit unions are subject to much the same consumer regulations as other financial institutions.