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.

The goal of credit unions is to serve all members well and in turn, members are loyal for this reason.  Members know their credit union will be there for them in bad times, as well as good.  The "People Helping People" philosophy extends to communities in which credit unions operate, particularly the underserved markets.  Credit unions and their employees get involved in community charitable activities by donating money, time and their resources.  Credit unions also assist members to become better educated consumers of financial services. Learn more about the history of credit unions.

Each credit union is governed by a volunteer board of directors, elected by and from the credit union's membership. Credit unions are an economic democracy with each credit union member having equal ownership and one vote — regardless of how much money a member has on deposit. At a credit union, every account holder is both a member and an owner.

Members of credit unions benefit in a number of ways from their access to competitive products and services to the financial benefits found in lower loan interest rates and higher interest on deposits.

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.