Credit union members enjoy many benefits, including lower loan rates, competitive rates on savings and lower fees, a say in how their financial organization is run, and many others.

Common Bond
Credit unions are for everyone, but a credit union’s common bond defines its ‘field of membership’ which could be a place of employment, a professional body, church or school association, or your community.

Here’s how to find a credit union to join:

• Ask your colleagues at work. Your company may sponsor a credit union or may be a sponsor group that has access to a credit union. Many employers may directly deposit your salary to the credit union.

• Ask your family. Does your spouse’s employer sponsor a credit union? Most credit union invite family members to join. Each credit union, however, may define ‘family’ differently. At some, only your immediately family members are eligible. At other credit unions, family may include extended family members such as grandparents, uncles, cousins and aunts.

• Quiz the neighbours and your friends. Some credit unions have a community ‘field of membership’ serving a region defined by geography rather than by employment or some other association. Parish credit unions fall into this category. Your telephone directory can also assist you in finding credit unions.