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Who are we?
The Stark County
Chapter of Credit Unions serves 27 credit unions in Carroll,
Harrison, Stark, Tuscarawas Counties. The Stark County Chapter
is one of 16 chapters that make up the Ohio Credit Union
League. The purpose of the Chapter is for credit unions to
share regulatory information, organize training seminars,
participate in public relations efforts and more.
What is a credit union?
More than 81 million U.S. consumers
are member-owners of, and receive all or part of their financial
services from the nation's 10,355 credit unions. Credit unions are
not-for-profit financial cooperatives, serving members who share
something in common: employment, association membership, or
residence in a particular geographic area. As not for profit
cooperatives, credit unions generally offer attractive savings and
loan rates, and low or no fees. Surveys consistently rank credit
unions first among financial institutions in consumer
satisfaction.
How do credit unions work?
Credit unions are
democratically owned institutions based on "people helping
people" principles. Members elect credit union boards of
directors; each member has an equal vote, regardless of how much he
or she has on deposit. Only members may serve as directors, and
directors serve without remuneration. Volunteers are an important
credit union resource. Presently, more than 129,000 Americans
volunteer for their credit unions, serving as board members,
committee members or providing other assistance. Finally, credit
unions have no outside stockholders, so after reserves are set
aside, earnings are returned to members in the form of dividends on
savings, lower loan rates or additional services.
How can someone join a credit union?
There are two kinds of
credit unions...those open to employees of particular businesses,
called Select Employee Groups, and those open to a particular
community, called "Community Chartered." The Stark
County Chapter is made up of credit unions of both kinds.
The best source to find out if you
are eligible to join a credit union is http://www.howtojoinacu.org/
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