|
|
Our Credit Union
What is a Credit Union?
A credit union is a full service financial institution that is owned by its members. But how is it "owned" you might well ask? Bayshore's current membership policy requires members of the credit union to who are over the age of eighteen to have a minimum of $75 in their shares account. Over the course of the next ten years, members are expected to increase the amount in their share account by $15 per year. At the end of five years, each member will have $200 (or more) in the share account.
Credit unions offer all of the services that a bank or trust company would,
but usually charge lower fees and rates for those services. Credit union members are required to purchase a share in the credit union when they become a member. Members are then entitled to attend annual meetings, receive financial statements, vote on policy issues which may come up for discussion and even run for the Board of Directors. Credit Unions are socially responsible financial institutions with a keen interest in the welfare of their members and of their communities as a whole. |  |
|
|
|
