Why our non-profit status matters to you
Many don’t give much thought to the ownership of the companies they do business with. But when it comes to financial services such as your checking and savings accounts, whoever makes the decisions about your business matters more than you may realize.
When you need accounts or other services like auto and mortgage loans, you can turn to a credit union like IMCU or you can go to the bank down the street. The accounts and services may seem to be quite similar, but there are very important differences.
Banks are for-profit organizations owned by shareholders.
Credit unions like ours, on the other hand, are non-profit membership organizations. That means we exist to serve the needs of our members, and every aspect of our day-to-day business is built around helping them. We provide a safe place to keep your hard-earned savings and allow you to borrow money when needed at reasonable rates. Any extra money we earn is returned to members like you in the form of higher savings dividends, lower loan costs, and lower fees. In other words, we’re here to help you become financially secure!
Members like you decide how our credit union is managed. Our operations are overseen by a volunteer board of directors made up of individuals who are elected by the membership. As volunteers, they’re committed to acting in the best interests of all of our members.
Credit unions like ours also serve in the community in other ways. Our focus on financial education and supporting other non-profit organizations helps residents and their communities strengthen their economic health, which benefits our members and nonmembers alike.
So the next time you need a financial product or service, choose the provider that puts people first. Turn to Indiana Members Credit Union.