Empowering Financial Futures

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 of a credit union is a distinct experience. Unlike banks, we’re a not-for-profit financial institution that doesn’t answer to stockholders, just our members’ best interests.

A credit union is a financial cooperative organized and owned by the people who save and borrow there. Credit unions originated in 1849 in Europe. Since that time, credit unions have specialized in savings and in making loans within their membership. As a credit union member, you have access to the banking services you need, including checking, savings, loans, credit cards, investments, financial planning, ATMs, mobile banking, online banking, and more.

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

The principal functions of credit unions are to encourage savings and thrift, and to provide credit and loans at favorable interest rates. Plus, best of all, credit unions improve the lives of their members by encouraging regular saving, by providing education and counseling about the wise use of credit, and by making loans for productive purposes.

At TENCU, a person who qualifies may become a full-service member with a deposit of $5 into a regular savings (share) account. This "share purchase" allows the member eligible to apply for all other services offered by the Credit Union.

Credit unions exist to help people, not make a profit. Our goal is to serve all of our members well, including those of modest means - every member counts. Our members are fiercely loyal for this reason. They know their credit union will be there for them in bad times, as well as good. The same people-first philosophy motivates credit unions and our employees to get involved in community charitable activities and worthwhile causes.