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What's a Credit Union?

Like a bank, only better.

Not Your Average Financial Institution

You’ve heard of banks, but you might not be as familiar with credit unions. They are financial institutions, too, yet are not-for-profit cooperatives owned by their members. Credit unions focus on helping their members save, borrow, and receive competitive financial services.

Credit Union Bank
Not-for-profit For-profit business
Owned by its members Has customers and shareholders
Focus is on service Focus is on maximizing shareholder value
Higher dividend rates on deposits Lower interest rates on deposits
Lower interest rates on loans and credit cards Higher interest rates on loans and credit cards
Fewer and lower fees More and higher fees

Credit unions such as Elements operate to promote the well-being of their members. Profits made by credit unions are returned to members in the form of fewer fees, lower loan rates, and higher deposit rates

Learn more about Elements


You are more than a member at Elements, you are a partial owner. Credit unions are owned and controlled by the people who use their services. Your vote counts! A volunteer board of directors is elected by members to manage a credit union.

Become a member


Members achieve many different types of financial goals, all in one place at one time. As the credit union and its members succeed, everyone feels that impact. Credit unions even work together to provide benefits.

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Community Impact

Members appreciate the community focus of credit unions. Elements often provides financial education, volunteerism, and monetary support to our neighbors.

See how Elements supports our community

How to Get Started with Elements

Open an Account

Make your membership official by opening an Elements savings account.

We’ll even put $5 in to get you started — no need to transfer funds from an existing account.

From there, consider adding checking, loans, or credit cards to the mix.

That’s It!

You are now an Elements member!

Start earning higher rates on your deposits, getting lower rates on your loans and credit cards, and paying fewer fees.

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