Credit unions are member owned financial cooperatives. The central principle of cooperatives is member control and participation. In credit unions the members are the owners. They elect a Volunteer Board of Directors at the annual meeting. This Board of Directors consists of up to 9 members and sets strategic planning and policy making for the credit union.

The Board of Directors hires a President to run the daily operations of the credit union. After money for operations and improvements are set aside, income is given back to the membership in higher dividends, lower cost loans, and lower fees/charges than you find at other financial institutions.