Log In Close Important Holiday Hours for Thanksgiving — Learn More What's a Credit Union? Like a bank, only better. Home About Elements What's a Credit Union? ABOUT ELEMENTS WHAT'S A CREDIT UNION? BENEFITS OF MEMBERSHIP MORE What is a Credit Union? You’ve probably heard of banks, but you might not be as familiar with credit unions. They are financial institutions, too, but are not-for-profit cooperatives owned by all of its members. Credit unions focus on helping their members save and borrow and receive affordable financial services. VS. CREDIT UNION BANK Not-for-profit For-profit business Owned by its members Has customers and shareholders Focus is on service Focus is on maximizing shareholder value Higher interest rates on deposits Lower interest rates on deposits Lower interest rates on loans and credit cards Higher interest rates on loans and credit cards Fewer and lower fees More and higher fees NOT-FOR-PROFIT Credit unions operate to promote the well-being of their members. Profits made by credit unions are returned back to members in the form of lower mortgage and loan rates, fewer service fees and higher yields on savings and checking. MEMBER-OWNED You are more than a member, you are part owner. Credit unions are owned and controlled by the people, or members, who use their services. Your vote counts. A volunteer board of directors is elected by members to manage a credit union. COOPERATIVE The cooperative structure of credit unions creates a cycle of mutual support toward a common goal of financial well-being. Members achieve many different types of financial goals, all in one place at one time. As the credit union succeeds, every member feels that impact. COMMUNITY INVOLVEMENT Members often have shared interests and appreciate participating in an institution designed to help other members. Credit unions often provide financial education and outreach to customers. Products Online Banking Online Budgeting Tools Checking Savings Loans Credit Cards Wealth Management Business Banking Resources Rates Find an ATM or Branch Financial Calculators Financial Advice Artices Events Getting Started About Elements What's a Credit Union? Benefits of Membership How to Get Started Open an Account Partner with Elements Customer Service News + Happenings Banking Alerts Contact Us Live Chat FAQs Elements Financial 225 South East Street, Suite 300 Indianapolis, IN 46202 1-800-621-2105 Elements Routing #: 274073834 Federally Insured by NCUA If you are using a screen reader and are having problems using this website, please call 1-800-621-2105 for assistance LIKE A BANK, ONLY BETTER © 2017-2021 Elements Financial. All rights reserved. Agreements & Disclosures Privacy Online Privacy Online Security Accessibility Site Map