Post Community 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…
| Post Community CU | 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 schools in 7 Michigan counties (see ” How to Join” ) | 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) |