What’s a Credit Union?

Understanding the Credit Union Difference

Welcome to the world of credit unions, where members come first and profits serve a purpose. Forge is a not-for-profit cooperative financial institution owned and controlled by its members. Unlike traditional banks, where stockholders reap the profits, credit union members benefit directly through better rates, lower fees, and superior service.

Key Features of Credit Unions

• Member-Owned: Each member has an equal stake, regardless of account size, and elects a volunteer board of directors.
• Not-for-Profit: Profits are returned to members through competitive dividends on deposits and lower interest rates on loans.
• Personalized Service: Historically, credit unions focus on enhancing members’ financial health and providing exceptional service.
• Community Focused: Credit unions have strong ties to their local communities, often supporting local charities, events, and financial education initiatives. Your money stays local, benefiting the community you live in.
• Financial Education: Credit unions provide resources to help members manage their finances, from budgeting tools to educational workshops on saving, borrowing, and investing.

Your Funds Are Safe

At Forge, your money is protected by the National Credit Union Share Insurance Fund. For more details on how your money is insured, visit NCUA Share Insurance.

• 133 Million Members Nationwide: Join a large and supportive network.
• High Satisfaction: 96% of credit union members favor their experience over traditional banks.
• Wide Eligibility: 99% of Americans can join a credit union.

Explore the benefits of joining a credit union and experience the Forge CU difference. For more information about credit unions, visit Your Money Further.