The Credit Union "Difference"
Credit unions are owned by the people it serves, called "members". Unlike other financial organizations, the credit union exists to serve its membership, not to enrich an outside group of stockholders. Because there are no outside stockholders, IVCU's members are essentially saving to making loans to one another at low rates. All credit union earnings are returned to members in the form of higher paying dividends on savings, lower rates on loans, and reduced fees on other financial products and services. That is what is known as the "People Helping People" philosophy shared by over 70 million credit union members around the world. In addition to being an owner, each member has an equal vote in director elections; the credit union is democracy in action.