A | In some ways, yes. A Credit Union offers a wide variety of financial services comparable to a commercial bank. Also, both are federally insured and regulated. However, unlike other financial institutions, a Credit Union is owned and operated by its members who save and borrow there. There are no outside stockholders. Our board of directors is made up of unpaid volunteers who are elected from and by our membership. As a not-for-profit financial cooperative, earnings are returned to members in the form of dividends, lower loan rates, higher interest rates on deposits, fewer fees, and free services.