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SEG: Bethlehem Catholic High School
Students, Faculty, Employees and Family from Bethlehem Catholic HS Can Join the Credit Union!
You may be wondering, “What is a credit union?”
A credit union is a member-owned, member-controlled, not-for-profit, cooperative financial institution formed to permit groups of persons to save, borrow, obtain related financial services, and participate in management. Credit unions make consumer loans and offer other consumer financial services such as writing residential mortgages, issuing credit cards, and providing interest-bearing transaction accounts. A credit union’s principal source of funds comes from shares purchased by the individual owners (members). The members also elect the volunteer board that runs each credit union.
Credit unions are cooperatives. A cooperative (co-op) belongs to the people who use it, and operates solely for the members' benefit. The member-owners share equally in the co-op's direction, either by serving as a volunteer, or by electing the board of directors that oversees policies and hires top management to run the daily business. Each member of a credit union has one equal vote in the selection of a board of directors, regardless of the size of the member’s share balance. Most credit unions serve people in a particular community, group or groups of employees, or members of an organization or association.
Though membership is closed to only those qualified groups, you can invite your family members to join once you have become a member. And when you have moved on and graduated high school, you can still be a member. Membership is good for life! At the credit union: “once a member, always a member.”
Why not give yourself an advantage of financial “readiness?” It’s never too early to begin focusing on successful management of your finances.
So gather that cash from babysitting, your paper route, allowance, or job and get into action--responsible financial action. Learn to manage your money now…and be a pro later. It will help you all your life.
Make a smart choice, join the credit union!
Click here to get more information about Bethlehem Catholic High School.
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