What is a Credit Union?

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.

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.

“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 United States.

Message from the Board Chair and the President/CEO

2025 was a year of tremendous growth, progress, and forward momentum for APGFCU. Thanks to the trust and engagement of our members, and the dedication of our volunteers and staff, your credit union outperformed peer averages and delivered strong financial results, all while expanding our reach and impact across the region.

APGFCU’s assets grew by $250.4 million (10.6%), reaching $2.6 billion by year-end. Our loan portfolio increased by $230.4 million (12.0%) to $2.2 billion, allowing us to support more members in achieving their financial goals. Membership grew by 14,150 individuals (8.4%), bringing us to 182,247 members served. Our net income of $25.5 million resulted in a return on assets (ROA) of 1.03%, the strongest performance APGFCU has achieved in 23 years. These results reflect our continued focus on offering high-value products and excellent service while expanding beyond Harford and Cecil counties into Baltimore County and Baltimore City.

A major milestone was welcoming approximately 2,400 members from the former Members First of Maryland Federal Credit Union at the end of August 2025. Through a purchase-and-assumption transaction facilitated by the National Credit Union Administration, these members now have access to a broader selection of financial products and services, as well as more favorable rates. This acquisition also brought APGFCU its first two Baltimore County branch locations, Dundalk and Perry Hall, which now serve both existing APGFCU members and those who joined from Members First. We are also excited to open our third Baltimore County branch at 10301 York Road in Cockeysville in mid-April 2026.

As we grow, we remain steadfast in our dedication to listening to you, our members. Throughout 2025, we worked on improving your experience with a focus on digital channels. Our newly established digital team launched more than 15 enhancements designed to make digital banking faster, easier, and more intuitive. This included the rollout of a guest loan payment feature, improvements to transaction limits and check-hold policies, and expanding our free credit score service to all online and mobile banking users. We thank every member who has responded to our surveys. Your feedback is essential as we continue identifying ways to improve your day-to-day financial interactions. Your voice guides our progress. The past year presented challenges for many members due to the prolonged federal government shutdown. In response, APGFCU provided critical flexibility, empathy, and financial support to those affected. Hundreds of members benefited from services such as skip-a-pay options, emergency loans, and financial counseling, underscoring our commitment to standing with members through uncertain times. When you are faced with financial challenges or difficulties, we are here for you.

Our board and leadership team are working closely together to shape the future direction of APGFCU. The synergy between our elected volunteers and our management team has never been stronger. Together, we updated our vision and mission statements in 2025 and outlined a strategy for future growth—one centered on empowering more people with the financial tools and resources they need to improve their lives.

We also deepened our commitment to community engagement by creating a dedicated community impact function, which is focused on strengthening partnerships with local nonprofits and connecting them with APGFCU resources. Additionally, we launched an employee volunteerism program to offer staff regular opportunities to get out of the office and support nonprofit organizations across our service area. As we continue to expand into Baltimore County and Baltimore City, this community work grows even more vital.

It’s been an exciting year, and we thank you for your membership and for trusting APGFCU as your financial partner. We remain committed to serving you with integrity, transparency, and unwavering dedication. Should you ever have feedback or concerns, please reach out—we are always here to listen.

Donald J. Burnett, COL (Ret.)
Chairman of the Board

Becky Smith
President and CEO

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