Like banks, credit unions offer savings & checking accounts, loans, and a wide variety of other financial services, but that’s where the similarities end. Banks are for-profit institutions owned by groups of stockholders whose principle goal is earning a return on their investments, which they accomplish by leveraging fees and higher interest rates on the financial services provided. By entrusting your money to a bank, you work for their benefit.

Credit unions, meanwhile, are cooperative not-for-profit organizations owned and controlled by their members, which operate on a set of democratic principles. As a credit union, 121 returns earnings to members through higher savings rates, better services, and lower borrowing rates. The board of directors is comprised of volunteers who answer not to outside stockholders, but to the members who elect them. Members like you!