When you join Erie Federal Credit Union, you become a member not a customer. As a member owner, the focus is on serving you and your financial needs. Unlike banks, credit union profits are returned to you through better rates and lower fees. Erie FCU was formed to serve our members not to earn profits for shareholders.
What is a Credit Union? Credit Unions are not-for-profit cooperatives that exist solely to provide financial services to their members. They offer more than just credit, and they're not about unions-you can join one! Credit Unions are local. Your money stays in the local community.
How are they different thank banks? Members, not shareholders, own Credit Unions. That means all the profit that Credit Unions do bring in goes right back to the members in the form of dividends, rebates and lowered interest rates.