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What is a Credit Union?

Where Members' Interests Come First

A credit union is a not-for-profit financial institution where people pool their money together to promote savings and provide access to affordable loans. They are considered member-owners, each with an equal vote in the cooperative. Typically, credit unions serve groups that share something in common, such as having the same employer or living in the same town. At SCCU, we serve those who live or work in these 34 counties

How are credit unions different from banks? 

Like banks, credit unions accept deposits and make loans. However, banks are in business to make a healthy profit for their stockholders. Credit unions solely exist to serve their member-owners and return surplus income to their members in the form of higher dividends, better rates on loans, and lower fees. 


Are credit unions insured? 

Credit unions, like other financial institutions, are very closely regulated. Federally insured credit unions are regulated by the National Credit Union Administration, which is backed by the full faith and credit of the United States government and insures member's deposits up to $250,000. Learn more here

Why choose a credit union?

Offers Competitive Rates

On average, credit unions offer lower rates for loans and higher rates for deposit accounts than banks. See SCCU's rates.

Provides Great Service & Convenience

Credit unions' primary goal is to serve their members with trusted products and services. See SCCU's locations and Online Services.

Supports the Community

Credit unions support their local communities in a variety of ways from donations to volunteering. See SCCU's community page.


Promotes Financial Wellness

Credit unions provide resources to help members meet their financial needs. See SCCU's financial wellness page.

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