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Does it seem like it’s becoming harder and harder to find a truly local financial institution? Given all of the changes that are occurring, we believe it’s important you understand the advantage of being a member of a credit union, like Riverview.

There are a lot of similarities between credit unions and banks. We offer most of the same products and services, including online account access, bill payment services, and text banking. Your deposits are federally insured up to $250,000 by the NCUA, similar to the FDIC for banks. Despite these commonalities, there are indeed some very meaningful differences.

First, it starts with our philosophy—to help people. Unlike most other financial institutions, we do not issue stock to select group of individuals who reap all of the profits generated from its customers. Instead, we exist to serve the interests of our members. Our “profits” are returned to all members in the form of lower loan rates, higher interest on deposits, and lower fees. Thus, our members can use the extra money they save on what’s important to them! This philosophy also guides our approach to member service. Whether it is a routine transaction or getting a loan, we treat each member as an individual and not just a number. Our primary goal is to provide members with better access to credit. We don’t simply look at our members’ credit scores when evaluating loan requests. Rather, we take the time to get to know our members and understand life events that may be keeping them from getting a loan at other institutions.

Second, your opinions matter with us! By joining Riverview, you are not only a member but an owner with a say in how we operate. Credit unions are democratically governed and elections are based on a one-member, one-vote philosophy—regardless how much money you have on deposits. On top of that, the board of directors is comprised of volunteers who are fellow members and reflect the diversity of the membership.

Lastly, credit unions cooperate with other credit unions! We share resources to bring convenience and savings to our members. With shared branching services, you have access to your Riverview accounts at over 5,300 branches nationwide. That is more locations than all but two banks in the US. Our members also have access to their money at over 4,000 ATMs, all surcharge-free!

Banking should not be complicated, and it isn’t at Riverview. We strive to make it as simple as possible.