A credit union is a not-for-profit cooperative
A credit union is a not-for-profit cooperative financial institution owned by its members and focused on helping them succeed financially. A credit union is managed by a volunteer board of directors elected by members. Credit unions offer many of the same services as banks but profits are returned to members in the form of educational programs, low fees, and improved services.
Why choose NAFCU?
Northland is committed to your financial health and well-being and to supporting the communities where we live and work. We strive to offer members savings through competitively priced loans and depository products. In addition, we provide financial education to strengthen members and communities for a healthier future.
Welcome to the Northland. We are edicated delighted to serve you, the people of Northeastern Michigan. After 67 years, we still follow the credit union philosophy - not for profit, not for charity, but for service. With this simple principle as our guide, we have grown to a nearly $700,000 credit union with 45,000 members.
What is the difference between a credit union and a bank?
Credit Unions
- Member service focused
- Member owned
- Run by a volunteer board members who are elected to manage the credit union in a way to help member suceed financially
- Not-for-profit. Earning are returned to members in form of dividends, low cost services, affordable loan rates and more
- Focus on Community Service
Banks
- Driven by profit
- Owned by investors who expect certain returns on investments
- All voting privileges are held by investors
- Only shareholders recieve profits
Ownership
As a member your $5 share makes you an owner of the credit union. Ownership gives you a voice in how your money is invested. At Northland you are more than an account you're a member of the family.
Affordable Banking
Northland is a 100% member owned financial institution, we have no stockholders. Instead, we share profits with you our member through educational programs, affordable rates, lower fees and improved services - such as our network of 30,000 surcharge-free ATMs, and the ability to bank in any of over 5,000 shared branches across the country.
Outstanding Member Service
We care about our people and communities, so we are always looking for creative ways to make a difference. Every person here plays a big role in our mission to make Northland your most trusted financial partner.
Here are some of the services we offer!
- International surcharge-free access to nearly 30,000 ATMs through the CO-OP Network
- Shared branching - our members can bank at over 5,000 institutions nationwide
- Free Checking, Bill Pay Service and online banking for individuals AND businesses
- Exclusive member discounts
- Plus much more!
Welcome to the Northland. Wherever you are on your journey, we're here for you. Open an Account today!