A credit union is a group of people, connected by a 'common bond' based on the area they live in, the occupation they work in, or the employer they work for, who save together and lend to each other at a fair and reasonable rate of interest.

Credit unions offer members the chance to have control over their own finances by making their own savings work for them. Every credit union is owned by its members — the people who save with it and borrow from it.

Credit unions exist only to serve members — not to profit from their needs. Surplus income generated is returned to the members by way of a dividend and/or is directed to improved or additional services for members.