Welcome to our new website!

Enter the scavenger hunt for your chance to win a $250 Visa Gift Card.

Advantages / Benefits of Credit Unions

Many people are familiar with both credit unions and banks, but really don’t know how they differ from each other. Credit unions, unlike banks, are member-owned, not-for-profit cooperatives. They exist to serve the needs of their members and offer the same types of products and financial services you would find at a bank.

Member vs. Customer

  • At Credit Unions, you’re a member, not just a customer. One of the benefits of a credit union is that each member is also a part-owner. Regardless of how much money you have on deposit, each member has one vote in electing board members for the organization.
  • At banks you are simply a customer. Bank’s customers have no ownership interest in their bank and are not able to elect their board members.

Not-For-Profit vs. For-Profit

  • With Banks, being for-profit corporations, their earnings are paid to stockholders.
  • With Credit Unions, being not-for-profit, earnings are paid back to members (via higher savings rates and lower loan rates).
    • Because of this, you’ll often get better rates on loans and typically earn more on deposits
    • You’ll typically pay lower fees as the credit union passes on savings to members.
  • Better customer service is common. Credit unions typically provide superb customer service because they tend to be smaller organizations than banks, and often know their members by name.

Board Members

  • Credit unions’ board members are comprised of volunteers that are members of the credit union and are elected by the membership.
  • Banks’ board members are paid, may not be a customer of the bank, and are elected by stockholders.

Ready to open an account today?

Call Us Today at 317-636-5581 to get started.

CONTACT FCU
HOURS OF OPERATION
  • Monday: 8:30 a.m. - 4:30 p.m.
  • Tuesday: 8:30 a.m. - 4:30 p.m.
  • Wednesday: 9:30 a.m. - 4:30 p.m.
  • Thursday: 8:30 a.m. - 4:30 p.m.
  • Friday: 8:30 a.m. - 5:00 p.m.
  • Saturday and Sunday: Closed

SHARE BRANCHING

FCU ROUTING NUMBER: 274073928

OUR LOCATION

726 Massachusetts Ave. Indianapolis, IN 46204