Credit unions have been the favorite among consumers surveyed in the American Banker satisfaction survey every year the independent publication has done the study, beginning in 1983. Members own their credit unions. They have a voice in how their credit unions are run. The members' ownership shares entitle them to vote for a volunteer board of directors. And unlike mutual savings banks, a member's voting shares do not depend on how much money he or she has on deposit.
All members are equal owners.
But most of all, members reap the benefit of their credit unions' success. The credit union is not in business to make a profit. There are no outside stockholders whose interest is in making money at the expense of the customers. But as times change, so do credit unions. When new financial service needs surface, credit unions find ways to satisfy those member needs.