Personal Resources

USC Credit Union has proudly served the Trojan family since 1973.

or

What’s so special about credit unions?

Credit Unions are:

  • Not-for-profit. Credit unions are not-for-profit financial cooperatives. We exist to serve our members, not to make a profit. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in the form of lower loan rates, higher interest on deposits, and lower fees.

  • Taxation. Credit unions do pay taxes — payroll taxes, sales taxes, and property taxes. Congress exempts credit unions from federal income taxes.

  • Ownership. Credit unions are economic democracy. 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 customer is both a member and an owner.

  • Volunteer Boards. Each credit union is governed by a board of directors, elected by and from the credit union’s membership. Board members serve voluntarily.

  • Membership Eligibility. By current federal statute, credit unions cannot serve the general public. People qualify for a credit union membership through their employer, organizational affiliations like churches or social groups, or a community-chartered credit union.

  • Financial Education for Members. Credit unions assist members to become better-educated consumers of financial services.

  • Social Purpose: People Helping People. Credit unions exist to help people, not make a profit. Our goal is to serve all of our members well, including those of modest means. Every member counts.

Copyright © 2013 Credit Union National Association