OUR PROMISE TO YOU!      

    The FRSA Credit Union is a state chartered and federally insured financial cooperative which was founded in 1975 by a group of people who realized an advantage in pooling their resources. As a cooperative, the Credit Union is owned and operated by its members.    

What Makes A Credit Union Different From A Bank?

     Credit unions were founded on the principle of "not for profit, not for charity, but for service." The philosophy of "people helping people" is the cornerstone of our movement.

     Credit Union Members share ownership of their credit union, and have democratic control (one Member, one vote). They elect from their membership a volunteer Board of Directors, which appoints the Supervisory Committee that also serves without pay. All credit unions have a limited field of Membership, meaning its Members share something in common, such as where they work or live. That bond makes them eligible for membership.

     Credit unions, like other financial institutions, are closely regulated. For more details on the safety of your deposits, click here. A credit union differs from a bank or savings and loan because it operates as a financial cooperative. Rather than paying stockholders dividends, all credit union excess earnings are passed along to its Members in the form of competitive rates, additional products and services, and lower fees. We offer the same financial products as banks, but we do it as a service, not as a source of income. That's why you'll notice that credit union fees are often significantly lower.