What is a Credit Union
A credit union is a cooperative, non-profit association, incorporated in accordance with the provisions of the Kentucky Credit Union Law or the Federal Credit Union Act. Its purpose is to create a source of credit for its members at a fair and reasonable rate of interest, and at the same time encourage habits of thrift and provide the opportunity for people to mutually benefit from use and control of their savings.
Based on principles of brotherhood, economic democracy and individual self-help, credit unions serve people who are united by a common bond of association, employment, residence or membership in the same church or organization.
Creating financial peace of mind, satisfaction and economic stability for its members is the mission of every credit union. Credit unions are greatly influenced by the realization that a good financial life is possible only as the result of systematic savings and the prudent use of your resources. By encouraging intelligent use of credit, through education and low-cost loans to its member-owners, a credit union is able to increase its members’ moral responsibility and enhance their individual dignity.
Our Credit Union exists as a cooperative, non-profit association, for the purpose of encouraging thrift among its members, creating a source of credit at a fair and reasonable rate of interest, and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social condition.
Members Choice Credit Union has fully adopted the Credit Union motto: “People Helping People”. The Board, management, staff and committee members of Members Choice dedicate their efforts to fulfill this motto.
For the better part of 80 years, we have served the Ashland community for all their financial needs. In 2010, Members Choice Credit Union was granted a community charter. That means any person who lives, works, worships, or attends school in the FIVCO area is allowed to take advantage of our membership benefits.