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| Home > Membership > The Credit Union Difference |
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The Credit Union Difference
Virginia Credit Union members enjoy a variety of personal banking services, but we're very different from a bank. The credit union is a not-for-profit cooperative, owned by the members who use our services.
Credit Unions |
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Banks |
| Credit unions are not-for-profit financial cooperatives that exist solely to serve their members. |
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Banks are for-profit corporations. |
| Credit union earnings are used to serve members’ needs. There are no outside stockholders – only
members. |
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Banks are in business to make profits for its stockholders, who
may not even be bank customers. |
| A volunteer board of directors is elected
by the credit union membership to represent them. |
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Bank boards
of directors are paid
for their
services. |
| Every member of a credit union
has an equal vote. |
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In a bank, the more shares a stockholder
owns, the more control he or she
has. |
| A credit union serves only its members. It has a defined field of membership approved
by its government regulators. |
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Banks serve the general
public. |
When you join, you become a member and an owner. Join today and discover the credit union difference!
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