Credit unions, like Century Federal Credit Union, are not-for-profit financial cooperatives and exist to serve their members, not to make a profit.
Credit unions are less likely to charge service fees than banks, that are for-profit institutions. When they do charge, the fees tend to be lower than banks. Unlike most other financial institutions, credit unions do not issue stock or pay earnings dividends to outside stockholders. Instead, earnings are returned to members in the form of lower loan rates, higher interest on deposits, and lower fees.
Note that there are Federal Chartered and State Chartered Credit Unions. Century Federal Credit Union is a Federal Chartered Credit Union which means your money is safe since all of your accounts are federally insured up to $250,000 by the National Credit Union Administration (NCUA).
Like all credit unions, Century Federal Credit Union provides a secure financial choice for all consumers, while staying true to our vision of "Together We're Better!"
Discover the difference between a credit union and bank.
Credit Union Difference