The Credit Union Difference

It is important to truly understand how credit unions are unique and different, and why we remain a necessary and extremely popular financial alternative for nearly 90 million Americans. Being a member-owner of a credit union is a distinct experience. You get the convenience and technology advantages of a big bank with the community-minded sensitivities of a local business.

Not-for-profit business structure. When the purpose of a business is not to make big profits, then the focus is on people. Credit unions are all about people-helping-people lead healthy, stable financial lives. As a member, you have access to the banking services you want, including checking, savings, loans, credit cards, ATMs, mobile and online banking, text banking, and more.

Profits returned to members. We exist to serve our members, not to make a profit. Members own the credit union. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in many ways, like lower loan rates, higher interest on deposits, and lower fees.

Volunteer board of directors. Each credit union is governed by a board of directors, elected by and from the credit union's membership. Board members serve voluntarily.

Membership eligibility. People qualify for a credit union membership through their employer, educational or organizational affiliations or associations.

Financial education for members. Credit unions assist members in becoming better- educated consumers of financial services.

Social purpose. People Helping People. Credit unions exist to help people, not make a profit. Our goal is to serve all of our members well - every member counts. The same people-first philosophy inspires credit unions and our employees to get involved in community charitable activities and worthwhile causes.

Local + national = the best of both worlds. TENCU is a tech-smart, local credit union with a national partner network, including:

  • 5,000 CO-OP Shared Branch credit unions in the U.S.
  • 30,000 surcharge-free ATMs across the U.S.

This expansive network means TENCU members can walk into a branch of another credit union in the U.S. that is in the CO-OP Shared Branch Network and perform transactions as if they were in a TENCU branch. There are no surcharge fees to use a CO-OP ATM.