What is a Credit Union?

Credit unions are not-for-profit, financial service cooperatives, owned and controlled by their members, and operating in a democratic way. As co-ops, credit unions operate solely for their members’ benefit, rather than to make a profit.

Why Join a Credit Union?

Member Owned. Member Driven.

Credit unions were founded on the principle of people helping people. When you join a credit union, you become part of a community. A community that exists to help its members grow and prosper financially. You become something bigger than just an account number. You become a member-owner with the power to shape the future of the credit union through your voice and your vote. You become part of a movement that exists solely for the purpose of meeting the financial needs of their member-owners by following seven cooperative principles:

Seven Cooperative Principles

All co-op businesses run in accordance with seven basic principles.

“The credit union movement ... it is a great movement, worthy of great deeds, deserving of great loyalty.”

Edward Filene, founder of the first credit union in the U.S.

Open and Voluntary Membership

It's important that members voluntarily choose to become members. Cooperatives are "open to all persons able to use their services and willing to accept the responsibilities of membership..."

Democratic Member Control

Members ultimately control their cooperatives. When you attend your credit union's annual meeting or vote for the board of directors, you're exercising your member control.

Member Economic Participation

"Cooperatives operate so that capital is the servant, not the master, of the organization."

Autonomy and Independence

While governments determine the legislative framework within which co-ops function, this principle asserts that co-ops also have an "essential need to be autonomous in the same way that enterprises controlled by capital are..."

Education, Training, and Information

This principle says members can play their role in the cooperative only when they understand that role and the co-op. That's one reason, for example, that your credit union provides you with this information and other educational tools.

Cooperation Among Cooperatives

Those managing a cooperative believe that co-ops have a unique opportunity to protect and expand the interests of ordinary people. This kind of one-for-all and all-for-one idea is unique. Even in areas where they compete, it's common for credit unions to cooperate on activities.

Concern for Our Community

Cooperatives exist primarily for the benefit of their members. Because of this strong association with members, they also are often closely and actively tied to their communities.

Message from the CEO

A recognized visionary and innovator, Don W. Lewis has been a leader in the credit union movement for more than 30 years.

Don Lewis The very definition of the word “empowerment” describes APGFCU's mission for members when it comes to their finances. We strive to help our members become stronger and more confident financially, and to take control of their finances. In turn, they will improve their own lives, as well as the lives of the generations that follow them.

Financial literacy empowers both members and our society. At APGFCU, we have developed opportunities for you to build financial skills and to pass them along to your children and grandchildren. The time to do this is now. Instead of struggling to make ends meet, you can realize the possibility of homeownership, freedom from debt and building a savings reserve.

We are here to help our members claim their right to financial literacy. It all starts with the concept of ownership. When one becomes a part of the credit union, one becomes a member-owner. A shareholder. An investor. As a not-for-profit cooperative, the credit union operates to return value to members in the form of better rates on savings and loans, as well as fewer/lower fees. The bottom line: We are here to serve you, to partner with you to build your wealth.

One of the many ways we help to do this is by educating members and the community at large on financial matters. I encourage you to take time to explore the many resources we offer, such as articles in our newsletters and on our website. There are a number of useful tools, including online courses, articles, videos and more. Register for one of the seminars or workshops we offer on topics ranging from home buying to getting your credit in shape. Meet one-on-one by scheduling time with one of our financial counselors or take advantage of the services available through our partner GreenPath Financial Wellness.

If you have children, they may have participated in the many financial literacy sessions with a representative from our financial education department. This team actively conducts courses in partnership with schools and community organizations throughout Harford and Cecil counties.

Ultimately, our goal is to empower our members so that they are in control of their finances and can leave a legacy to their children, grandchildren and future generations. That legacy is not only monetary, but more importantly, a legacy of financial knowledge.

Share this valuable empowerment resource with others. What better gift is there to give than the gift of credit union member-ownership? Open an account for a child or grandchild and set up automatic transfers from your account to theirs. Help that loved one get started – even if it's just a small amount at regular intervals. Doing so will help to provide a foundation upon which they can then build. Pass on the power you have realized. It is an increasing power throughout the generations. Each generation becomes more prosperous than the previous one. That’s the power of a legacy. We’ve provided the structure. Seize the opportunity. Embrace it and pass it on.

Ultimately, our families become stronger and our communities become stronger. That’s the heart and soul of APGFCU's mission.

Don W. Lewis
President/CEO

Wield a big yield!

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