What is a Credit Union?

     Credit unions are not-for-profit cooperative financial institutions that are owned by their members, and run by volunteer board members.

     Credit unions offer most financial services found at banks, including loans, savings accounts, checking accounts, IRAs, Internet account access, and more.

     Credit unions generally offer better rates on loans and savings than do commercial banks, due to credit unions' unique operation. While banks must make profits for their shareholders, credit unions exist only to serve their members. As a result, consumers have ranked credit unions as the leaders among financial institutions in customer satisfaction for the last 16 years.

     The largest credit union in Ohio has nearly 200,000 members and over $600 million in assets. The smallest credit unions in Ohio have a few hundred members and several thousand dollars in assets.

     More than 2.7 million Ohioans (about 20 percent of the state's population) belong to credit unions through associations with their employers, communities, churches, or occupations.

What is the Ohio Credit Union League?

     The Ohio Credit Union League, founded in 1934, is the state trade association for Ohio credit unions. Its mission is to foster the success of credit unions and the credit union philosophy of People Helping People in Ohio.

     Nearly 600 credit unions are affiliated with the League through 16 regional chapters. Credit unions affiliated with The Ohio Credit Union League also are members of the Credit Union National Association, or CUNA.

     The Ohio Credit Union League does not offer financial services to the public.

Join a Credit Union

     You may be eligible to join a credit union through an affiliation with your employer, your occupation, your community, your church, or another group with which you or a family member is associated.

     Check with your employer, church, and family members to find out if they can suggest a credit union you are able to join. Credit unions are also listed in your local telephone book.

     Or, call the Ohio Credit Union League (that's us, the state trade association for credit unions!) during business hours at (800) 486-2917, and we will help you find a credit union you may be eligible to join.

     You can also search online for credits unions in the Cleveland area.

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