WHO IS THE LITTLE GUY?
The Little Guy represents the more than 900,000 Iowans credit unions serve. They’re hardworking women and men from all walks of life who are often overlooked by traditional financial institutions. Teachers. Small-business owners. Immigrants. Soldiers. Farmers. The list goes on and on.
As not-for-profit financial institutions, credit unions pass earnings onto their members in the form of lower interest rates on loans and higher returns on savings. Many Iowa credit unions offer free checking accounts, surcharge-free ATMs, and financial counseling.
WHAT IS A CREDIT UNION?
A credit union is a member-owned, not-for-profit financial cooperative formed solely to meet the needs of its membership. Credit union members can be people who share something in common such as where they live, work or worship. Credit unions pool their members’ deposits in order to provide loans to other members at affordable rates. Members also benefit from higher returns on savings and fewer fees, on average, as compared to for-profit banks. Learn more about the difference between credit unions and banks.
EASY TO JOIN
To become a credit union member, you must have a "common bond" with a certain employment group, association membership or a well-defined geographical region. IowaCreditUnions.com allows you to locate credit unions near you to help you determine your eligibility for membership.
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