|
What is the credit union difference?
Each credit union is owned by its members and is a not-for-profit, cooperative financial institution.
Members combine their savings to create a pool of funds from which other members can borrow. Unlike banks,
credit unions do not have stock holders. The income earned on loans, investments and fees is returned to
members in the form of higher savings rates, lower loan rates and additional products and services. Funds
on deposit at a credit union are federally insured by the National Credit Union Association (NCUA) an agency
of the U.S. government. Individual Retirement Accounts (IRAs) are insured separately.
As a member of the credit union, you are encouraged to attend the annual meeting. At the annual meeting you
may vote to elect a volunteer board of directors who oversee the credit union's operations. Each member
receives one vote regardless of their account balance as long as the minimum balance is maintained in the
primary savings account.
Harvard University Employees Credit Union (HUECU) was established in 1939 to specifically serve the Harvard
University community. Faculty, staff, students and alumni (and their family members) are eligible to join.
$25 in a Share Savings account is all that is needed to establish membership at Harvard University Employees
Credit Union.
HUECU offers a full array of financial products and services including online banking, e-statements, online
bill pay service and online loan applications.
For a list of branch and ATM locations,
|