//What is a Co-op? (and why should I care?)
Simple. Your credit union is a co-op and it’s why we’re different from a bank.
The word “co-op” is short for “cooperative,” which is an organization that is owned and and operated by a group of people for their mutual benefit. There are different types of co-ops. Grocery stores are the most popular, but there are also diverse co-ops for things like sporting goods and farming.
When you join a co-op (like a credit union), you become a member and a part-owner. This is important because unlike corporations that are owned by stockholders (i.e. big banks), your credit union is owned by regular people just like you.
Why does this all matter?
When you need financial services in the future—like a car loan, a credit card or even a home loan one day—you can use your credit union. You’ll have access to a financial co-op that is designed to help each and every member realize their dreams.
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