What is a credit union, exactly?

A credit union is a financial institution that is cooperatively owned by the members (patrons) who use their services.  We are also not-for-profit, so each year once our expenses and legal reserves have been set aside, the excess profit is returned to the membership. In the case of SCCU, we distribute our profits through member-friendly pricing on our savings and loan products, branch and technology upgrades, and more.