What is a Credit Union?

What is a Credit Union?
Credit unions are financial co-operatives and, like all co-operatives, are owned and controlled by the people who use their services. These people are members, and they all own shares in the credit union. As shareholders, members of many credit unions share in the profits every year.

As financial co-operatives, credit unions are dedicated to the people and communities they serve. From weaving co-ops in Sri Lanka to producer co-ops like Ocean Spray(R) to credit union systems with billions of dollars in assets (that’s us!), co-operatives adhere to Seven International Co-operative Principles.

Credit unions, like other financial institutions, are closely regulated. All deposits, including interest, are guaranteed without limit by the Deposit Guarantee Corporation of Manitoba.

For a complete list of available services, email, phone or visit your local credit union.

The Statement on Co-operative Identity was adopted at the 1995 General Assembly of the International Co-operative Alliance, held in Manchester on the occasion of the Alliance’s Centenary. The Statement was the product of a lengthy process of consultation involving thousands of co-operatives around the world.

Definition
A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

Values
Co-operatives are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, co-operatives members believe in the ethical values of honesty, openness, social responsibility and caring for others.

100% Guaranteed
All deposits, including interest, are guaranteed without limit by the Deposit Guarantee Corporation of Manitoba. So, the next time you ask yourself, “Where can I find a safe place to keep my money?” Remember where your funds will be 100% guaranteed — your local credit union!