What is the Credit Union Difference?

1. Not-for-profit - Credit unions are not-for-profit financial cooperatives. We exist to serve our members, not to make a profit.  Earnings are returned to our members in the form of lower loan rates, higher interest on deposits, and lower fees.
   
   
2. Taxation - Credit unions do not pay taxes.  Congress exempts credit unions from federal income taxes.
   
   
3. Ownership - Each credit union member has equal ownership and one vote -- regardless of how much money a member has on deposit. At a credit union every member is also part owner of the credit union.
   
   
4. Volunteer Boards - The operations of the credit union are overseen by a board of directors elected by the credit union's membership. Board members serve voluntarily- they are not paid for their service.
   
   
5. Membership Eligibility - By current state statute, credit unions cannot serve the general public. CFPCU exists to serve the employees of the United States Postal Service in Central Florida.