What makes a credit union different than a bank? Here at HCU we feel that you will come to know and experience the difference and the benefits that we have to offer you.
|Member Owned - Every account holder has the same voting rights to make decisions.||Stockholder Owned - Stockholders have the voting rights to make decisions.|
|Members elect fellow members to serve on the Board of Directors.||Stockholders hire people to be on the Board of Directors.|
|Financial Cooperatives - Members pool their savings to provide low-cost loans and low fee services to each other.||Commercial Business - Banks offer a variety of services to generate profits for their stockholders.|
|Decisions on operating the Credit Union take into consideration what is best for the members.||Decisions are based on what will give the stockholders more profit.|
|Deposits are federally insured by NCUA (National Credit Union Administration) a government agency||Deposits are federally insured by FDIC (Federal Deposit Insurance Company) a government agency|
|Exist To Serve The Member - In order to join, a person must be within the field of membership, as defined by the Credit Union's charter.||Serve customers from the general public.
Anyone can use the services of a bank.
|Income is returned to the member (account holders) in the form of better savings rates, lower loan rates, and low or no fees for services.||Income is returned to stockholders in the form of dividends earned on their shares of stock.|