Frequently Asked Questions

Who is eligible to join our credit union?

• Anyone who lives or works within a 30 mile radius of Kankakee.
• To join the credit union just come by our office or complete the membership application. Then bring it to our credit union. You are still required to come our Main Office in Kankakee or our Branch location in Bourbonnais.
• There are no fees for membership. The initial minimum deposit is $25.00 in a share account. This deposit establishes ownership in the credit union and makes one eligible for all the other benefits and services available. Don't forget, the immediate family is eligible to join.
• Once you have joined our credit union, all you need to do is maintain a minimum of $25.00 in your regular savings account, to keep your membership active. This will enable you to take advantage of all the benefits for which you qualify.
• You are mailed statements on a periodic basis and special mail pieces which provide you with information on various membership benefits.
• As a member of our credit union, you are one of the owners. Our credit union belongs to you.
• Support your credit union by using its many services.
• Once a member, always a member.

What is the difference between a credit union and a bank?

• Credit unions are not for profit organizations whose mission is helping members achieve financial independence. They are owned by the members who have money on deposit with the credit union. Banks, of course, are owned by investors who are seeking a profit.
• While banks offer many of the same services as credit unions, their mission is to earn a return on their owner’s investments.
• Another important difference is that credit unions are controlled by their members through the election of a board of directors. In a bank only the stockholders have a voice in the election of the board of directors. Bank customers have no voice in the leadership of their institution. The directors of credit unions are also volunteers. In fact, it is illegal for them to receive compensation for their work as a director. This means they make decisions based upon the membership’s best interests, not just the interests of a few stockholders.
• Because of these differences in philosophy and leadership, credit unions are able to offer services with lower fees and better rates than banks. This may explain why year after year the banker’s own trade publication, American Banker rates credit unions highest in customer satisfaction.

How is our Credit Union preparing for the financial marketplace of the future?

• We are committed to partnering with top providers to bring quality financial service to our members. Foremost in our consideration is security. Services such as on-line transactions will be added as they become secure, dependable, and affordable. One thing members may always be assured of is that the human touch will never leave the credit union. We will never become too big or sophisticated that our members can not talk to a real person when they have a concern.