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Who owns a credit union?

April 26, 2017Credit Union owns

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Who owns a credit union?

4 Answers

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Our members! Each credit union member owns one “share” of the organization and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

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Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. A member of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

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Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

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As a member, you own the credit union. Your membership entitles you to one share of the organization regardless of the size of your account. As an owner, you can vote on important issues requiring a membership vote such as board of director elections. At UTFCU, every member is an owner.