Why Join A Credit Union
Your credit union provides more opportunity because it is owned and governed by the people who utilize its products and services. Every member owns a share of the credit union, and the credit union operates to promote the financial well being of all its members. And because we're not-for-profit, members earn higher dividends on savings, pay lower rates on loans and appreciate a higher level of service overall.
Credit unions and banks offer many of the same products and services; however they differ in many ways. Here's how...
| KCFCU | Local or National Banks | |
| Type of Organization | Not for profit, not for charity, but for service | Generates profit for shareholders |
| Who Can Join? | Anyone who lives, works, worships or attends school in Southwest Michigan | General public |
| Who Owns It? | Members | Shareholders |
| Board of Directors | Unpaid volunteers | Paid shareholders |
| Fees | Typically, we have fewer and lower fees than those of banks | Fees generally account for one-third of banks' total profits |
| Income Goes To | Members | Shareholders |
| Interactions With Like Financial Institutions | Cooperative | Competitive |
| Deposits Insured By | NCUA (National Credit Union Administration) | FDIC (Federal Deposit Insurance Corporation) |
