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The Credit Union Difference

What is a Credit Union?

Federal Credit Unions are not-for-profit cooperative financial institutions that are owned and operated by their members. Through the use of volunteer boards and member ownership, credit unions are able to provide highly competitive loan rates, savings rates and fewer fees than other lending institutions. Credit Unions share profits with their members (not shareholders) through the payment of dividends. Members also maintain voting rights for issues concerning operations and policy.

Just as banks are overseen by the Federal Deposit Insurance Corporation (FDIC), federally chartered and insured credit unions are overseen by the National Credit Union Administration (NCUA). Just like FDIC, NCUA also provides credit union savings insurance of at least $250,000 through the National Credit Union Share Insurance Fund (NCUSIF), a savings insurance program backed by the full faith and credit of the United States Government.

Becoming a member of a credit union generally requires eligibility within the common bond provision, submission of a membership application and the purchase of at least one ownership share.

Why join a credit union?

  • The organizational structure of the credit union is comprised of volunteers from the membership.
  • The volunteers represent you, the member and structure products and services with that in mind.
  • Membership means "ownership" interest in the credit union. Each member regardless of share amount has one vote.
  • Pacific Crest Federal Credit Union is a not for profit entity: offering more service-oriented than profit-oriented services.
  • Pacific Crest Federal Credit Union was developed so individuals could have affordable financial services.
  • Pacific Crest Federal Credit Union can help you rebuild your credit. We also offer financial literacy classes to students and adults.
  • Pacific Crest Federal Credit Union was established in 1936; locally owned and operated.
  • Pacific Crest Federal Credit Union wants our members to have their family members join. We encourage you to establish an account for your children.
  • Pacific Crest Federal Credit Union offers money saving options like: loan pre-approval, a risk based lending program, a variety of home loans and quick loan turnaround on consumer loans.