A credit union is a not-for-profit, cooperative, financial institution owned by its members.
Credit unions provide the same services as banks (like savings accounts, loans, and checking accounts) but they operate to benefit their members rather than generate profits for shareholders.
Credit unions are locally owned by their members, not stockholders. Meaning that when you join, you’re not just a member — you’re a part owner. Members elect the board of directors from among our membership to ensure that decisions are made with the best interest of the membership in mind. A credit union board looks out for members’ best interests, not just the bottom line.
Credit unions have a “cooperative” structure since we reinvest our earnings back into our members. This recycling and/or reinvesting of profits allows us to work towards the common goal of the financial well-being of all members. Meaning that one member’s savings becomes another member’s loan. This structure ensures that profits are reinvested into better rates, lower fees, and community support.
Credit unions are not-for-profit financial cooperatives, that exist solely to serve the needs of our members — not to make profits. Unlike banks, which distribute profits to shareholders, credit unions have members not shareholders. Meaning we reinvest our earnings directly to our membership in the form of lower fees, higher savings rates, and more affordable loan options. Additionally, credit unions offer many free or low-cost services — financial counseling, educational programs, and more — that for-profit institutions view as unnecessary expenses.
Credit unions are designed to make an impact on local communities. This is why each credit union has a field of membership which only certain individuals are eligible to join. There are several factors that may determine your eligibility. If you’re unsure if you can join, ask yourself the following questions:
If you answered yes to any of the above questions, then you would be eligible to join your local credit union — which for you might be N.E.W. Credit Union!
At N.E.W. Credit Union, we proudly serve all who live in work in Brown, Marinette, Oconto, and Shawano Counties of Wisconsin & Menominee County, Michigan.
Credit unions are deeply committed to supporting the communities they serve. Beyond providing financial services, we prioritize financial education, personalized service, and community initiatives to help our members thrive. At N.E.W. Credit Union, we actively participate in local events, charitable initiatives, and outreach programs that uplift our communities.
For example, N.E.W. Credit Union established and maintains three student credit unions within the Oconto, Suring, and Oconto Falls High Schools. Because these branches do not focus on lending, they do not drive profits; rather, they aim to teach a lifelong habit of saving. Youth-run credit union branches have been lauded as a “best practice” for youth financial education.
Our goal is to make a meaningful impact — not just in your finances, but in the places where you live and work.
Becoming a member at N.E.W. Credit Union is easy. If you live or work in our field of membership you’re eligible to become a member. With just a $10 deposit to open your account, you can become a member and part-owner of the credit union.
Interested in becoming a member of N.E.W. Credit Union or looking for a career with an organization committed to improving the lives of others? Become a member or check out employment opportunities now.
Become A MemberN.E.W. PositionsN.E.W. Credit Union provides links to web sites of other organizations in order to provide visitors with certain information. A link does not constitute an endorsement of content, viewpoint, policies, products or services of that web site. Once you link to another web site not maintained by N.E.W. Credit Union, you are subject to the terms and conditions of that web site, including but not limited to its privacy policy.
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