What is a Credit Union?
A credit union is a nonprofit financial cooperative whose members can borrow from pooled deposits at low interest rates.
Do I have to work at a certain company to be a member at this credit union?
No. River Cities Community Credit Union is open to the people who live, work, worship or are a member of an organization in Atchison, Brown, Doniphan, Jackson, Jefferson or Leavenworth Counties. Our employee groups include Berger Company, Blish-Mize, Bottorff Construction, City of Atchison, Fargo Assembly, L & L Construction, McCormick Distilling and MGP Ingredients.
Why do I need to be a member before I can apply for loans?
The $25 you use to purchase your share of the credit union is pooled together to provide loan funds. Without opening your account and joining the credit union, we are unable to return money to our members in loans.
Do you have checking accounts and ATMs?
We do offer checking accounts with debit cards at the credit union. Unfortunately we do not own an ATM. We do however, refund up to $5 a month in ATM fees back into your account.
What makes a credit union different from a bank?
The main difference between the two is how they are owned. Banks are owned by shareholders who each own varying amounts of the bank and generally work in a way where they want to maximize profit. On the other hand, credit unions are owned by the members regardless of how much money they actually have on deposit, and work in a way to improve the financial lives of their members.
Can I access my account or money if the credit union is closed?
Yes. The credit union offers online banking. You can check balances, move funds around and withdraw money at any ATM.
Does the credit union report my loan payments to the credit bureaus?
Yes. The credit union reports your loan status and payment history once a month to Equifax.
If I work for one of the employee groups do I automatically qualify for a loan?
All members have the same loan application process and requirements to complete. Your place of work does not determine nor guarantee your credit worthiness.