Who can join a credit union?
Each credit union has a defined field of membership and is not open to the public. Since credit union membership is not open to the public, individuals must meet certain requirements before being granted access to a credit union, one of the most important being that they share a “common bond.” Examples of individuals sharing a common bond are employees of corporations, members of associations, churches or synagogues and residents of defined areas such as communities. Members can be drawn from more than one group, each sharing a distinct common bond.
Each credit union has a defined “field of membership”. The membership of Universal 1 Credit Union consists of employees of our select employer groups, and any person who lives, works, worships or attends school in one of the following community groups: Dayton, Centerville, Oakwood, Moraine, West Carrollton, Miamisburg, Riverside, Kettering, Huber Heights, Trotwood, New Lebanon, Germantown, Clayton, Farmersville, Englewood, Vandalia, Union, Miami Township, Washington Township, as well as Warren, Clark, Greene, Guernsey, Highland, Licking, Pickaway, Ross, Butler, Miami and Shelby Counties in Ohio. Immediate family members of current members are also eligible to join Universal 1 Credit Union.
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a “field of membership.” The field of membership may include where they live, where they work, or their membership in a social or economic group.
Anyone can join a credit union! But there are some rules about which credit union you are allowed to join. Members are united by a common bond of association. This means that they have something in common. This “common bond of association” is how a credit union’s field of membership is decided. For example, a field of membership can be made of people who: • Work for the same company • Live in the same city, county, or zip code area • Attend or work at the same school Talk to your parents about joining a credit union today!
