Address: 428 E. Third Avenue, Spokane, WA 99202
Address: 9707 N. Nevada Street, Spokane, WA 99218
Address: 9208 E. Sprague Avenue, Spokane Valley, WA 99206
Lobby & Drive-up: Monday – Friday, 9:00 am – 5:00 pm
Understanding Credit Unions
Credit unions stand as cooperative financial pillars, owned and steered by their members. They aim to foster thrift, extend credit at fair rates, and deliver a range of financial services tailored to member needs. Embodying the ethos “not for profit, but for people,” credit unions are member-centric entities, where pooled assets facilitate mutual financial support. They offer financial services similar to commercial banks, including savings accounts, checking accounts, credit cards, loans, and online banking.
Unlike banks, credit unions operate as not-for-profit cooperatives, owned entirely by members. Only members can deposit or borrow money. Credit unions, guided mainly by volunteer boards, contrast with banks and their compensated boards. As of 2018, credit unions globally had 375 million members.
The world saw its first credit union in Europe in 1844. The U.S. introduced its first in 1908, and by 1934, the enactment of the Federal Credit Union Act fueled the credit union movement. Credit unions are community-oriented, with surveys consistently showing higher customer satisfaction compared to banks. They are known for superior member service and commitment to improving members’ financial situations. More details on Wikipedia
PrimeSource CU – Your Trusted Financial Partner:
About PrimeSource CU: At PrimeSource CU, we’re committed to equipping our members with cutting-edge technology, top-tier products, and exceptional services. Our financial strategies prioritize prudent lending and investment, safeguarding our members and their investments. As a conservatively managed, financially robust, and autonomous institution, we value our members above all. For any queries or concerns, we’re just a call away. Interested in becoming a member?