What is a Credit Union?


Overview of a Credit Union

 

Experience the Credit Union Difference

Today, credit unions like Corning Credit Union have broadened their product offerings far beyond the savings and short-term loan products of years ago. Most have now become a full provider of the same products and services offered by most banks.

A Safe Place to Save and Borrow

While credit union products and services look very similar to what banks offer, credit unions are very different from banks in that we return the profits we earn back to our members in the form of:

  • Lower loan rates.
  • Higher interest (dividends) on deposits.
  • Lower fees.
  • New products and services tailored to meet our members' requests.

At Corning Credit Union, we're committed to saving our members money each and every day. We pride ourselves on delivering better service than anywhere else in the world! 

At CCU, we offer a full range of products and services including:

We also provide you with full 24/7 access to your accounts through electronic delivery systems such as FREE Digital Banking services, Bill Pay, Mobile Check Deposit*, and D.A.D. (Dial Accounts Direct).

Join Today!

In recent years, the National Credit Union Administration (NCUA) has allowed credit unions to expand their membership to allow more individuals and businesses to join a credit union. You could be one of them.

join ccu 

It’s easier than you think.

 

* Corning Credit Union does not charge a fee for using Mobile Check Deposit; however, charges from your wireless carrier may apply. Members must satisfy certain criteria to qualify. Deposit limits and other restrictions may apply.

The Difference Between Credit Unions and Banks

Credit Unions Banks
Not-for-profit cooperatives; focused on serving their members with no- or low-cost products and services. For-profit business; focused on general profit.
Owned by their members. Owned by their stockholders.
Earnings are returned to members. Profits are paid to stockholders.
Democratically controlled; each member has one vote in the election of board members, regardless of how much money they have deposited in the credit union. Only stockholders have voting privileges, based on the amount of stock owned.
Deposits are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency. Deposits are federally insured to at least $250,000 by the FDIC, a government agency.