6 Reasons to Join a Credit Union

Did you know more than 143 million people are members of a credit union? This impressive number continues to grow as more individuals discover the unique benefits that credit unions offer compared to traditional banks. Unlike banks, which are typically for-profit institutions, credit unions are member-owned and not-for-profit, meaning they prioritize the financial well-being of their members over shareholder profits. As people become more informed about these differences, many are choosing to make the switch. 

Here are some of the top reasons why credit unions are gaining popularity and why they might be the right choice for you.

1. You’re the owner

That’s right — you’re the boss. When you join a credit union, you’re not just a customer; you become a member-owner. Unlike traditional banks, which are driven by profits and accountable to shareholders, credit unions operate on a member-first model. There are no outside shareholders calling the shots. Instead, every member owns a share of the organization and has a voice in how it’s run. 

This cooperative structure means that the credit union’s success directly benefits its members. Profits are reinvested to offer higher savings rates, lower loan interest rates, and fewer fees—all designed to help you keep more of your money and reach your financial goals faster. It’s a model built on trust, transparency, and community.

2. You have a voice

You have a voice—and it matters. One of the most empowering aspects of being a credit union member is the ability to participate in its leadership and direction. Unlike banks, where decisions are made by executives and shareholders behind closed doors, credit unions are governed by a member-elected board of directors. These individuals are chosen by fellow members to provide oversight, ensure transparency, and guide the credit union’s strategic decisions. 

If you’re passionate about making a difference, you can run for a seat on the board or vote for candidates who represent your values and priorities. This democratic structure ensures that the credit union remains accountable to its members—not outside investors—and that your voice helps shape the future of the organization.

3. Financial safety

Your money is safe at credit unions, like United. All United Members are insured up to $250,000.00 by the NCUA. NCUA Insurance is per Member, per ownership category vs account. This means that a joint account with two Members as owners is insured up to $500,000.00 by the NCUA. You can confirm the insurance on your specific accounts here: Insurance Estimator | MyCreditUnion.gov.

United has a healthy balance sheet and diversified Member base. The financial sustainability of the cooperative is an integral part of our mission statement and something we take very seriously. Through our own experienced team and the regular review of external auditors, regulators, and expert third party partners, United ensures that we have the systems and processes in place to manage liquidity and be responsible stewards of our Members’ money.

4. It’s all about cooperation

Remember in school when teachers encouraged teamwork? Well, cooperation is at the heart of a credit union. It basically works like this: one member makes a deposit; the credit union uses that money to help another member get a loan. The cycle continues and is repeated several thousand times, and what you get is a financial cooperative that your teachers would be proud to see in action.

This spirit of cooperation doesn’t just benefit individual members—it strengthens the entire community. Because credit unions are built on mutual support, every deposit and loan helps fuel a cycle of financial empowerment. Members aren’t just helping themselves; they’re helping their neighbors, coworkers, and local businesses thrive. It’s a system where everyone contributes and everyone benefits, creating a ripple effect of stability and opportunity. Whether you're saving for a rainy day or borrowing to buy your first home, you're part of something bigger — a network of people working together to build a better financial future.

5. People, not profits

One of the biggest differences between a bank and a credit union is the philosophy of “people helping people.” Credit unions are not-for-profit companies, so that means profits are returned to the membership through better rates on loans and deposits, products like savings and checking accounts, and even community sponsorships investments that help make where you live a little bit better.

Plus, credit union staff are always available to help with financial advice—even when times get stressful. You’re the owner, remember. So, employees and credit union leadership work extra hard to make sure you are living your best life.

6. Joining is pretty easy

While membership is required, these days becoming a member is pretty easy. Most credit unions only require that you live or work in the state or community where they have a branch. Others can qualify you for membership based on your employer.

And if you think joining isn’t worth it because all credit unions offer is plain vanilla services, think again. Today, most credit unions are full-service - far beyond loans, savings, and checking. The majority offer extensive product lines as well, including mobile banking, mortgages, financial planning, and even investment and business services.

The Bottom Line

Credit unions may be right for you if you’re looking to reduce expenses and pay less in fees, leverage your money, or bank where people know and care about you. Fewer account restrictions and better earnings may also be priorities. Or, perhaps you’re civic-minded and appreciate a credit union’s community focus. Whatever your needs, it’s important to explore your options.