Why Join a Credit Union?
Banks and credit unions offer many of the same financial services, but there’s one important difference: a credit union is owned by the people it serves.
Join AGCUBoth banks and credit unions can provide checking and savings accounts, loans, mortgages, credit cards, digital banking and other financial services. The biggest difference is how they’re structured and who they serve.
Banks are generally for-profit businesses owned by shareholders. Credit unions are not-for-profit financial cooperatives owned by their members. When you join a credit union, you become one of those member-owners.
| Credit Union | Bank | |
|---|---|---|
| Ownership | Owned by members | Owned by shareholders or investors |
| Structure | Not-for-profit cooperative | For-profit business |
| Primary Focus | Serving members | Serving customers and generating returns for owners |
| Voting | Members have a voice | Voting rights generally belong to shareholders |
| Deposit Insurance | Federally insured credit unions: NCUA | Federally insured banks: FDIC |
A different ownership structure can create real benefits for members.
Credit union members aren’t just customers. They’re part-owners of the financial cooperative they use.
Because credit unions don’t have outside shareholders demanding profits, their focus can stay on providing value and service to members.
Credit unions often return value to members through competitive savings and loan rates, lower fees and useful financial services.
Membership Matters
When you join AGCU, your membership share makes you part-owner of the credit union.
Members have voting rights regardless of how much money they have on deposit. AGCU is also governed by a volunteer Board of Directors that helps oversee the direction of the credit union.
Your voice isn’t based on the size of your account.
The AGCU Difference
AGCU combines the benefits of credit union membership with a mission that’s been serving the Assemblies of God community since 1951.
Online and Mobile Banking make it easy to check accounts, deposit checks, transfer money, pay bills and manage your debit card wherever life takes you.
Whether you connect with us online, by phone, through Video Banking or in person, our team is here to help you find financial solutions that fit your needs.
AGCU serves individuals and families as well as churches, ministries, missionaries and businesses with financial solutions for many stages of life and ministry.
Banking with a Purpose
At AGCU, our purpose goes beyond providing financial services. We donate 10% of our annual earnings to support ministries, scholarships, humanitarian projects and other efforts that make a difference in communities around the world.
That means the everyday banking you already need can become part of something bigger.
AGCU is federally insured by the National Credit Union Administration (NCUA), an independent agency of the United States government. Your deposits are insured to at least $250,000, with additional coverage available for certain account ownership categories.
Learn more about AGCU membership and discover how easy it is to get started.
Become a Member Contact AGCU
