What is a Credit Union?

Are your parents members of a credit union? Have you ever wondered what a credit union is?

A Credit Union provides financial services to select groups of employees, students, retirees, or persons who belong to a community or organization. People who are related to a member of the credit union (kids, brothers, sisters, grandparents, aunts and uncles) can also become a member of Mountain Credit Union.

The credit union is a very important part of your community. Everyone who puts money in a credit union is a member. Credit unions are a great place to save money. Your money is safer in a credit union than it is at home because it is kept in a big vault at the credit union and it is also insured by the United States government.

When you save regularly at the credit union, your money grows faster than it does in your piggy bank. Credit unions give people extra money - called dividends - just for depositing their money in the credit union. The dividends come from loans the credit union makes. A loan is money lent for a certain amount of time. Loans from the credit union are used for buying cars, furniture, computers, and many other things. Set your goal and then see the Kids Calculator to see how long it will take you to reach your goal!

Can you think of things you might want to save for? How about a bicycle, book, gifts, sneakers, roller blades, candy, necklace, sunglasses, or video games!

A friendly person at Mountain Credit Union can help you open your savings account. This will put you on the path toward your savings goal. Ask your parents to bring you to the credit union to open your account.

Why Join?

A Credit Union provides financial services to select groups of employees, students, retirees, or persons who belong to a community or organization. People who are related to a member of the credit union (kids, brothers, sisters, grandparents, aunts and uncles) can also become a member of Mountain Credit Union. If your eligible to become a member (if your not sure, ask your parents to help you call or e-mail us), ask your parents to bring you to Mountain Credit Union to become a member. You will need a $5.00 deposit to be able to open a savings account. This money will be returned to you if you ever close your account. The friendly people at Mountain Credit Union will help you and your parents fill out a signature card that insures that you are the owner of the account and that you can add to or take from your account when you need to.

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