Members combine their savings to create a pool of funds from which other members can borrow.
The income earned on loans and investments is returned to members in the form of higher savings rates, lower loan rates and additional products and services. Plus, credit unions are democratically controlled. Members meet once a year to elect a volunteer board of directors from the membership to oversee the credit union's operations. Service Credit Union is operated by professional management under the direction of a volunteer board of directors. And in keeping with the democratic tradition of credit unions, individual members still get a say in how SCU is run.