About Credit Unions

WHAT IS A CREDIT UNION?

	It is a financial institution owned by a group of people who share a common bond.
	It is controlled by the people who use the services.
	It is not for profit.
	It is made up of voluntary committees.
	It is owned and operated by its members.
	It offers favorable rates.
	It pays dividends to all members, not just a few stockholders.

WHAT IS OUR MOTTO AND SLOGAN?

	NOT FOR PROFIT, NOT FOR CHARITY, BUT FOR SERVICE
	PEOPLE HELPING PEOPLE

WHAT IS OUR COMMON BOND?

Any school employee of any school entity in Hockley County. In addition, any relative of the member of the credit union can be a member.

WHAT IS SO SPECIAL ABOUT CREDIT UNIONS?

Unlike other financial institutions, credit unions are owned and run by their members. The Board of Directors is made up of volunteer members who are elected by the membership to represent everyone's best interest. Banks are owned by a small group of large stockholders. Therefore, a bank's primary objective is to increase earnings in order to pay the stockholders larger dividends. Credit unions are financial cooperatives where all members share in the profits and expenses of the credit union.

WHAT CAN THE CREDIT UNION DO FOR ME?

Your membership enables you to borrow at rates that are generally lower than those offered by other financial institutions. Also, when you save, the interest rate you earn is generally a little higher than rates offered by competing institutions.

IS MY MONEY SAFE?

Without a doubt! Each member's deposits are insured to the full legal limit of $100,000 by the National Credit Union Share Insurance Fund, which is administered by the National Credit Union Administration. IRA accounts are insured separately up to $100,000.

HOW CAN I JOIN?

If you meet the guidelines to be a member of the credit union and you choose to be a member, you may contact us at 806.894.6204, 607 Austin Street, Levelland TX 79336, or you can E-mail the office.