What Is A Credit Union?
ri-Point Federal
Credit Union is part of a long-standing tradition in personal finance
management. The credit union concept originated in Germany during the mid-1800s.
A group of farmers, tired of high prices and outrageous interest rates, combined
their money to buy supplies and establish a common pool to borrow from at lower
interest rates.
Today's "credit unions" are similar. They are not-for-profit, member-owned, and democratically operated by people just like you. Currently, there are over 11,700 credit unions in the United States with more than 74,000,000 members. Although credit unions have changed over the years to meet the demands of their members, our long-standing philosophy of "People Helping People" has remained the same.
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