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Aurora Schools Federal Credit Union is a not-for-profit financial cooperative, created to serve its members/owners. Our members share a common bond of employment or association and have similar needs and interests. Credit unions are not like any other financial institution. They are friendlier, easier to do business with and provide products and services at lower costs. |
| Our Mission Statement Aurora Schools Federal Credit Union exists to promote and protect the financial well being of its members through technology and education. Confidential member services are provided by a knowledgeable, trustworthy and dedicated staff. | |
| Brad Johnson, CEO |
Banks vs. Credit Unions - What's the difference?
For obvious reasons, many Americans are unimpressed with the banking industry right now. Maybe it's a good time to look at an alternative – like moving your account to Aurora Schools Federal Credit Union instead. Is there a difference?
| Credit Union | Bank | |
| MISSION | Not-for-profit financial cooperative that conducts business for the mutual advantage and shared prosperity of its member-owners | For-profit financial corporation that conducts business to maximize profits for its stockholders. |
| PRINCIPLES | Promotes thrift, savings and wise use of credit to improve members’ lives | Focuses on generating profits |
| MANAGEMENT | Usually locally run; membership is made up of people with a specific organization or location in common: employers, churches, schools or communities | Rarely locally run — often sold to a larger bank whose home office is not in the local community |
| OWNERSHIP | Every member is an equal owner of one share of the credit union, regardless of the balance in his or her accounts | People who purchase stock are the owners. Stockholders expect a return on their investment |
| LEADERSHIP | Volunteer Board of Directors is elected from and by the membership to make decisions that benefit the members | Paid Board of Directors, elected by the stockholders, is legally bound to make decisions to benefit the stockholders, not the customer |
| BRANCHES | Most Credit Unions are part of the CU Service Network, which allows members to access their accounts from among the 3,700 various participating credit union locations nationwide | Larger Banks have lots of branches in various metro areas throughout the country, but their fees tend to be higher to pay for their expansion |
| ATMs | Because of the cooperation between credit unions, members of credit unions participating in the CO-OP network enjoy surcharge-free access to over 28,000 ATMs nationwide | Customers of even the largest banks are restricted to ATMs owned by their own bank in order to avoid a fee |
So the short answer is YES!
You will enjoy the savings and personal attention you receive at Aurora Schools Federal Credit Union. We are continually growing and expanding our services to better meet your needs. We're here for YOU!
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With Thanks to our Volunteer Board of Directors | |||
| Barry Wallace Chair |
Charlotte Fowler Vice Chair |
Becky Roberts Treasurer |
Stan Pursley Secretary |
| Bob Adams Director |
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