To understand how you can benefit from belonging to a credit union, it's important to understand the difference between a credit union and a bank. Here's where banks and credit unions are the same - you can make a deposit, get a loan, or apply for a credit card at both places. Yet there is a key difference. Banks are run for-profit. They're in business to make money for their investors. Credit unions aren't run for profit. When you deposit money at Toledo Metro Federal Credit Union, you become a shareholder, actually a part owner of the credit union. Profits are returned to credit union members in the form of higher dividend rates on savings and lower interest rates on loans, along with a host of other benefits.
Toledo Metro Federal Credit Union is governed by a volunteer board of directors who are voted on by the membership. A bank's board members are appointed and paid to make decisions that affect the corporation's bottom line.