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What does member owned and operated mean?

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What does member owned and operated mean?

It means that we are cooperative. We have pooled our money together to save with one another and lend to one another. We have also established a volunteer Board of Directors and committees that are comprised of both staff and volunteers.

The committees help to decide what products and services we offer, how we operate, what new systems we will acquire, what fees are to be charged, and the rates at which to offer our products. The volunteer Board has final decisions on all actions taken on behalf of the membership.

This is a very unique organizational set-up, giving each individual who belongs to Palisades Federal Credit Union a voice in who we are and how we operate. 

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