Q: What is a Credit Union?
A: A federal credit union is a nonprofit, cooperative
financial institution owned and run by its members. Organized
to serve, democratically controlled credit unions provide their
members with a safe place to save and borrow at reasonable rates.
Members pool their funds to make loans to one another. The volunteer
board that runs each credit union is elected by the members. Not
for profit, not for charity, but for service is a credit union
motto.
Q: Who may join the Credit Union?
A: Persons who live or work in Roswell, NM and businesses
and other legal entities located in the City of Roswell, New Mexico.
Members of their immediate families and organizations of such
persons.
Q: Are my savings insured?
A: Yes -- your savings are insured by the National
Credit Union Administration (NCUA). The NCUA is an independent
agency of the United States Government. Your funds are insured
up to a maximum of $100,000 per account. As an eligible member
of the Credit Union, you are entitled to receive the following
insurance benefits at no cost to you.
