Soo Line Credit Union is a member-owned and member-operatedfinancial institution that was formed in 1926. SLCU is a not-for-profitorganization. Profit is directed back to the members in the form of lower feesand higher rates of return. Membership is not open to the public. SLCU isstate chartered and is insured by (NCUA) National Credit Union Administration
SLCU, as part of the credit union movement, is committed to superior personalservice to our membership and providing progressive and competitive financialproducts. Through continuing education for our membership and staff, we willcreate a stronger bond and strive to be our member's primary financialinstitution.
What is a Credit Union?
A credit union is a not-for-profit, member-owned financial institution owned and operated by its members. All members have an equal voice in the operation of the organization regardless of the amount he or she has on deposit with the credit union.
Credit unions were founded on the basic democratic premise of the cooperative movement based on the principle of people helping people. Access to low-cost financial services is critical to the health and stability of ordinary citizens.
Unlike other financial institutions, credit unions return earnings to its members through lower rates on loans, higher returns on savings and provides the best possible service to its members. Meeting members’ financial needs is the first priority of credit unions.
Benefits of a Credit UnionIncrease Employee Benefits With No Cost To The Employer
Controlling business expenses is a challenge when it comes to valuablebenefits for employees. Offering credit union membership to employees is a wayto boost employee benefits.
Employers show concern for their employees by increasing their benefitspackage. Affiliating with a credit union allows the employer to add to thebenefits package without subtracting from the bottom line.
By using the services of a credit union, employees are given more financialoptions. Using the services of a credit union will help stretch employees'paychecks further.