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Blog > 2012 > January > Why Credit Unions are the Better Banking...
January 05, 2012

Why Credit Unions are the Better Banking Choice in Central Indiana

by Hostetler, Michael

Credit Unions are not for profit financial institutions.

Profits made by the Credit Union are returned to the Credit Union members in the form of lower Indianapolis loan rates and better deposit rates. Profits are also returned to the members in the form of lower fees or free services. Since credit unions are owned by their members, they are not obliged to return profits to stockholders.

Credit unions are governed by a volunteer board of directors.

The Credit Union Board of Directors is not compensated for their services. The Board represents the interests of the membership and Credit Union members are encouraged to voice their concerns regarding Credit Union operations to the Board's Supervisory Committee. Credit Union members also have the right to vote as to who serves on the Board of Directors.

Credit unions are insured, safe, and secure.

Our Indianapolis credit union is federally insured by the National Credit Union Administration. Deposits are insured up to $250,000. Financial Center has also partnered with Excess Share Insurance to insure your deposits an additional $250,000. This means that your deposits are insured up to $500,000 at Financial Center. Our insurance is equivalent to what Indianapolis bank locations utilize with the Federal Deposit Insurance Corporation or FDIC.

Join Financial Center today by completing our short online application.

Category: FCFCU
Your savings federaly insured to at least $250,000 and backed by the full faith and credit of the United States Government: NCUA, Equal Housing Lender, ESI