Membership Benefits of a Credit Union


Becoming a member of a credit union has many benefits that traditional banks do not offer. A credit union is a not-for-profit cooperative, where customers are members and part owners. Earnings are paid back to the member-owners in the form of higher savings rates and lower loan rates. Banks are for-profit corporations where earnings and profits are paid to stockholders.

The biggest difference is that a credit union is founded on democratic, cooperative principles. Rather than being a "for-profit corporation" that answers to stockholders and investment firms, a credit union is a not-for-profit organization that is fully owned and directed by its members.

This means that earnings are paid back to the member-owners in the form of higher savings rates and lower loan rates. While this means more savings for members, a typical member will not notice much, if any, difference in their daily banking habits.

BMI Federal Credit Union® is committed to improving the financial lives of each and every one of our members. By opening an account at BMI Federal Credit Union, you can enjoy a lifetime benefit that will follow you wherever you may go in life.

BMI FCU is truly looking out for you. In addition to great products and services fundamental to your financial life, learn about additional benefits we can offer:

If you'd like to tell us how we can improve your credit union experience, please let us know by completing one of our surveys.