The Harvard 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.