This philosophy helps explain why since 1984, credit union members have been more satisfied with the service they receive from their credit unions than bank customers are, according to a well-known national survey of consumers' attitudes toward financial institutions. Credit unions are not known just for their outstanding service, however. They are also known for their strong financial condition. In fact, credit unions are in the midst of one of their most successful periods ever. Membership continues to increase.
Capital ratios are at their highest levels ever.
In simple terms, capital represents a credit union's net worth. Meanwhile, loan delinquency rates continue to drop. And the National Credit Union Share Insurance Fund, the federal fund that insures credit union deposits, continues to be the strongest deposit insurance fund in the nation. Over the years, legislators have deliberated, reviewed and reaffirmed the tax-exempt status repeatedly because credit unions, while growing and changing, continue to operate in this unique way. As previously mentioned, credit unions are mutually owned cooperatives.