CU Difference

What is a credit union?
Credit unions are not-for-profit cooperatives financial institutions owned by their members. Since credit unions do not have stockholders, the credit union’s income goes directly back to the member in the form of lower fees, higher rates of return, and quality products and services.

Who’s eligible?
Eligibility for membership is defined by some type of affiliation or common bond. For Rio Grande Credit Union, this includes working for the City of Albuquerque, Bernalillo County, VA Hospital; belonging to a Catholic parish; residing west of I-25; among others. Learn more here (link to Field of Membership page)

What do they offer?
Credit unions offer similar products and services as banks but call them different names. For instance, share accounts refer to savings accounts. Credit union members must have a share account to belong to the organization. By doing so, they become shareholders. Credit unions offer savings, checking, investments, loans and convenient services like other financial institutions but can also additional services like small loans that may be hard to find elsewhere simply because they are not profitable enough for other financial institutions.

Why choose a credit union?
Credit unions are committed to building relationships with its members, meeting members’ financial needs, providing superior service, promoting financial literacy and improving the members’ financial health.

Is credit union money safe and protected?
Rio Grande Credit Union is regulated and insured by the National Credit Union Administration (NCUA), an independent federal agency whose board members are nominated by the President of the United States and confirmed by the Senate. Member accounts are protected to $250,000.

The Difference

The credit union difference is simple: unmatched personal service, excellent savings and loan rates and commitment to improve your financial health.