Credit unions are not-for-profit financial cooperatives which are owned and governed by their members. We operate under the people-helping-people philosophy of "not for profit, not for charity, but for service." Our profits are returned to our members in the form of competitive loan rates and savings dividends. Our board of directors is elected by our members for service to our members. Your use of the investment and loan products offered by your credit union allows us to expand all our members' financial opportunities.
We are like a bank in that we offer financial services, are federally insured, and have our fiscal health and business practices monitored by government regulatory agencies. But as the previous paragraph indicates, we're different in important ways. We are totally devoted to service to our member owners, the promotion of thrift, and our community. At Central Illinois Credit Union, we like to think these differences make us better than a bank.