Ownership means that your credit union’s earnings are returned to you in the form of higher dividends and lower loan rates. A credit union is a not-for-profit co-operative effort of people pooling their resources in an effort to achieve financial stability for all. People who belong to a credit union have a common bond – they work at the same place, attend the same church, or live in the same community. A credit union is not a credit bureau; it is not a labor union; it is not a loan company or a financial house; it is a group of people who have joined forces to manage their own money. Its basic objectives are to teach and encourage thrift among members, and through their combined savings, extend to members credit for any worthwhile purpose. The Board of Directors of the Credit Union is elected from and by the membership and has the direction and control of credit union affairs. It sets the policies under which the credit union operates, subject to Chapter 171 of the General Laws of the Commonwealth, the National Credit Union Administration, and the Commissioner of Banks. We encourage you to positively contribute to the conversation of this group by ensuring that your comments and content are appropriate for this community. Members Plus Credit Union reserves the right to review and remove any user comments or content at any time for any reason and will remove anything considered inappropriate or offensive. Please understand that comments or user content posted to this site do not necessarily reflect the opinions of Members Plus Credit Union, its employees, or affiliates. Members Plus Credit Union does not (a) represent or warrant the accuracy of any statement made here, (b) does not endorse any opinions expressed on this page and (c) is not responsible for any user comments or user content on this site. We do expect participants to post content and comments that are both relevant and respectful. Members Plus Credit Union strongly encourages users of this page to respect fellow community members and note that Members Plus reserves the right to remove content that is:
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