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Since 1948, every third Thursday of October we celebrate International Credit Union (ICU) Day®. What sets credit unions apart? It’s more than lower fees and better interest rates; it’s our core principles and values of putting the well-being of members before profits.

These seven principles of a credit union are founded in the philosophy of cooperation and the central values of equality, equity and helping one another.

1. Credit unions are owned by members

Because credit unions are owned by our members, we can offer better rates, lower fees, no-stress services and outstanding support. Numerica offers many of the same products, services and technology as banks. We work with you to reduce the stress associated with managing one’s finances.

2. Credit unions are not-for-profit

Credit unions represent Main Street, not Wall Street. Decisions are made locally and on an individual basis.

Instead of turning profits, credit unions return the money they make to their member shareholders in the form of higher rates on savings, lower rates on loans, reduced fees and improved services.

This has helped to build financial stability.

3. Credit unions are democratic

Every member owns a share of the credit union, with an equal say in how the credit union is run.

The direction of the credit union is overseen by a local volunteer board of directors who are motivated by service, not bonuses. Why is this important? Because it means our board members are driven by needs in our community, not lining their own pockets.

4. Almost anyone can join a credit union

Membership requirements are pretty broad, making eligibility at a credit union a possibility for almost anyone. You are eligible for membership at Numerica if you live, work, or worship in Washington, the North Idaho Panhandle, or are related or reside with a person who is eligible for membership.

Credit unions are voluntary, cooperative organizations, offering services to people willing to accept the responsibilities and benefits of membership, without gender, social, racial, political or religious discrimination. All are welcome at a credit union.

5. Credit unions are committed to education and training

Whether working hand-in-hand with members at branches, teaching in the schools, or how-to videos, Numerica strives to break down communication barriers and tackle financial topics to help our members live well.

6. Credit unions are cooperative

With more than 5,000 credit unions across the globe and access to tens of thousands of ATMs, credit unions are increasingly convenient on a national scale.

7. Credit unions are socially responsible

Concern for community is a credit union value. Support from loyal members has helped to build a strong foundation, inspiring Numerica to give back to causes that lend a helping hand, create leaders and celebrate the community.

Stop by your favorite branch to feel the credit union difference.