The Credit Union Difference
People Helping People
Credit Unions are not-for-profit financial cooperatives owned by the people they serve, their members. Credit unions serve groups who share a common bond, such as where they work, live, or worship. They were created to provide a safe place to borrow and save at reasonable rates.
Because they are member-driven and not-for-profit, credit unions usually offer better rates than other financial institutions. They also offer services, such as loans for small amounts, that banks might consider “not worth doing.” Credit unions sole reason for existing is to serve their members.
Credit unions, like other financial institutions, are closely regulated and operate in a very prudent and sensible manner. Most credit unions’ member funds, including Dominion Credit Union’s, are insured by the National Credit Union Administration (NCUA).
The phrase "not-for-profit, not for charity, but for service" has been used by credit unions for many years to express our unique purpose.

What are the main differences between Credit Unions and Banks?
| Credit Union |
Banks | |
| Are not-for-profit, member-driven institutions | Are profit-oriented institutions | |
| Return profits to members in the form of lower loan rates, higher savings rates and free or low cost services | Return profits to a small group of stockholders | |
| Have members, each of whom has a share of ownership, $5 at Dominion Credit Union | Have customers with no ownership in the organization | |
| Democratically controlled by members | Controlled by stockholders and paid officials | |
| Members elect a volunteer Board of Directors to represent their interests | Have a paid Board of Directors who represent the owners; customers do not have voting privileges |