What Is A Credit Union?
The credit union cooperative concept originated in Germany during the mid-1800s. A group of farmers, tired of high prices and outrageous interest rates, combined their money to buy supplies and establish a common pool for members to borrow from at lower interest rates. Today’s Credit Unions are similar. A Credit Union is a member-owned and not-for-profit financial cooperative. Deposits provide money for members who need loans. Members usually earn higher dividends on savings and pay lower interest rates on loans. Although Credit Unions have changed over the years to meet the demands of their members, our long-standing philosophy of people helping people has remained the same.
Choosing Your Financial Institution
If you are like most people, you look for financial alternatives to managing your money. Not all financial institutions are alike. Patriot Federal Credit Union offers you an option. Patriot Federal Credit Union is uniquely different from a bank, finance company, Savings & Loan, or Thrift. Once you join us, you’ll be immediately eligible for our low or no-fee financial services, lower interest rates for loans, and higher yield investment and savings accounts. Plus, you’ll receive outstanding member services and the attention you deserve. Joining is easy. If you are eligible, simply open a Share Account which represents your “ownership” in the Credit Union. Your share begins your lifetime of Credit Union benefits.