This is what distinguishes the Credit Union from other financial institutions. Members put their money in a variety of savings accounts called "share" accounts, and that money, in turn, is lent to members. After operating expenses and reserve requirements are met, loan income is returned to all members in the form of dividends (interest on deposits) and comprehensive financial services. SCU is a s
tate-chartered, community credit union, organized under strict regulatory laws that are monitored and enforced by the National Credit Union Administration, an agency of the U.S. Government, and the State of California Department of Financial Institutions. The NCUA insures each member account to at least $250,000. SCU is governed by a Board of Directors that establishes and reviews policy. The Directors are Credit Union members who are elected by the membership and serve without pay. Every member has one vote, regardless of how much he or she has on deposit. At the Credit Union, there is no select group of shareholders that profits more than anyone else. All members profit -- individually and collectively.
