5 reasons to join a financial cooperative

The UN General Assembly has proclaimed 2025 the International Year of Cooperatives. Values-driven, people-centered, and member-owned, cooperatives are an alternative to for-profit businesses, focusing instead on positive change. Here are some ways that financial cooperatives, such as credit unions, benefit their members and communities. 

1. Profits are reinvested in your well-being.   

Banks are generally for-profit institutions. When a for-profit bank sets rates and fees, their main goal may be to maximize profits for shareholders.  

When a financial cooperative earns profits, they are returned to the members. This can take the form of better rates, lower fees, or services that prioritize your needs. You may also see profits returned to you in the form of rewards programs, such as UNFCU’s Member Loyalty Rewards. 

2. Your voice matters. 

Financial cooperatives run on democratic principles. Each member has voting rights, and each member receives one vote, regardless of the size of their account balance. As a member of a financial cooperative, this offers you an opportunity to help steer the organization's priorities. 

At UNFCU, members can make their voice heard annually by voting in the Board of Directors election.  

3. Financial cooperatives strengthen communities. 

Like all cooperatives, financial cooperatives are people-centered. Credit unions prioritize education because knowledgeable, well-informed members are able to make decisions that contribute to the strength of the cooperative as a whole. From financial education to specialized solutions, financial cooperatives are committed to supporting their community’s long-term well-being. 

4. Financial cooperatives increase access to financial solutions. 

Financial cooperatives can provide access to products and services that would otherwise be inaccessible to some of their members. For example, UN employment contracts can be an obstacle to borrowing at some financial institutions that are unfamiliar with their terms. UNFCU’s understanding of the diverse contract terms of UN professionals often enables us to lend to more members at competitive rates. 

 5. Shared values lead to greater impact. 

Another key value that unites cooperatives is concern for community. Cooperatives work to make a positive impact on their communities through initiatives approved by their members, such as volunteer work, charitable giving, and commitment to sustainability.