About Us

What is a Credit Union?

A credit union is a nonprofit, cooperative financial institution owned and run by its members. Organized to serve, democratically controlled credit unions provide their members with a safe place to save and borrow at reasonable rates. Members pool their funds to make loans to one-another. The volunteer board that runs each credit union is elected by the members. Not for profit, not for charity, but for service is a credit union motto.

Credit unions are not new. Originating in Europe, credit union history began in this country when the first credit union was formed in Manchester, New Hampshire, in 1909. Today, over 10,000 credit unions with over $480 billion in assets serve more than 79 million people in the United States. More and more people join credit unions every year and they are pleased with the service. Credit unions have rated No. 1 in customer satisfaction at financial institutions for 10 years according to the American Banker Newspaper's annual customer satisfaction survey.

How is a credit union different from a bank?

A credit union is a member-owned, nonprofit organization. By law, credit unions must not earn a profit at the end of the year. The credit union reinvests its earnings to enhance services, provide the best rates, or return the earnings to the members in the form of a dividend. There are no hidden fees and operating costs are kept to a minimum. Credit unions exist to serve their membership.

Banks are for-profit businesses, with the overhead and expenses associated with running a company.

You do business with a bank; you own your credit union.

Your Board of Directors:

Ira Rikard, President
Willie Woodard, Vice-President
Clint Odom, Treasurer
Johnny C. Heritage, Secretary
Sharon Pugh, Board Member

Credit Committee:

Kenneth Walker, Chairperson
C.C. Bradley
Marion Campbell

Supervisory Committee:

Wallace Pezent, Chairperson
Robert Dean
Willie Coleman

Credit Union Staff:

Susan W. Perkins - Manager
Janice H. Jones - Loan Officer
Carolyn J. Bonner - Head Teller
Linda Beech - Compliance Officer