What is the credit union difference? New federal laws and regulations are changing the structure and face of the financial services industry. In this time of accelerating change it is important to truly understand how credit unions are unique and different, and why we remain a necessary and extremely popular financial alternative for 82 million Americans. Not-for-profit. Credit unions are not-for-profit financial cooperatives. We exist to serve our members, not to make a profit. Credit Unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in the form of lower loan rates, higher interest on deposits and lower fees. Ownership. Credit unions are economic democracy. Each credit union member has equal ownership and one vote. Volunteer Boards. Each credit union is governed by a board of directors, elected by and from the credit union's membership. Board members serve voluntarily and receive no compensation. Membership Eligibility. By current federal statue, credit unions cannot serve the general public. People qualify for credit union membership through their employer, organizational affiliations like churches or social groups, or a community-chartered credit union. Financial Education for Members. Credit unions assist members to become better educated consumers of financial services. Social Purpose: People Helping People. Credit unions exist to help people, not make a profit. Our goal is to serve all of our members well, including those of modest means - every member counts