What is a Credit Union?
It is a cooperative association organized and incorporated under Iowa law to help AHPCU members save money safely and conveniently and make it possible for them to borrow at a reasonable rate. The Credit Union is a non-profit organization in that all profits are returned to its members by way of dividends or low rates on loans.
What Makes a Credit Union Different from a Bank?
What makes a credit union different from a bank or savings & loan? Like credit unions, these financial institutions accept deposits and make loans, but unlike credit unions, they are in business to make a profit. Banks and savings & loans are owned by groups of stockholders whose interests include earning a healthy return on their investments. A credit union is owned by its members.
Who may be a member?
Any employee or volunteer of Unity Point, Allen Hospital, or its affiliated clinics, Allen College students, and immediate family members of current members.
How do I Join?
Fill out a membership card and provide current photo ID showing correct address (or provide additional address verification if necessary)
Deposit $5.00 for savings/share (Additional initial deposit of $25.00 to open share draft account)
How are our Savings Protected?
Credit unions, like other financial institutions, are closely regulated. And they operate in a very prudent manner. The National Credit Union Share Insurance Fund (NCUSIF), administered by the National Credit Union Administration, an agency of the federal government, insures deposits of credit union members at more than 9,000 federal and state-chartered credit unions nationwide. Deposits are insured up to $250,000.