Credit unions help members save. Most sponsoring organizations provide payroll deductions where deposits and loan payments are made automatically during each payroll period, at the member s request. Credit unions are non-profit corporations. Earnings after expenses are returned to the members as dividends. Regulations do not limit the dividend rates paid to members.
Credit unions provide loans at low rates.
The average yield on credit union loans are generally lower than other financial institutions. Take Action Inform DFI of your interest. Meet with individuals from your group and sponsoring organization to determine if a credit union will meet your needs. Obtain chartering forms and other legal documents required to make an application. Identify and contact other organizations for advice and assistance, including trade associations and nearby credit unions.