What Is A Credit Union?
Credit unions are not-for-profit financial cooperatives serving members who share something in common – employment, association membership, or residence in a particular geographic area. More than 70 million U.S. consumers are member-owners of, and receive all or part of their financial services from, the nation’s 12,047 credit unions.
Armstrong Associates Federal Credit Union believes in the philosophy of “not for profit, not for charity – but for service.” Our mission is to protect members’ assets while providing a high degree of products and services and a fair rate on loans and shares.
Philosophy & Structure
Founded on the basic democratic premise of the cooperative movement, your Credit Union believes that access to low-cost financial services is critical to the health and stability of ordinary citizens. Credit unions are democratically owned and controlled institutions based on ‘people helping people’ principles. Credit union boards of directors are elected by members; each member has an equal vote, regardless of how much he or she has on deposit. Only members may serve as directors, and directors serve without compensation. Credit unions have no outside stockholders, so after reserves are set aside, earnings are returned to members in the form of higher dividends on savings, lower loan rates and lower cost services.
AAFCU Is Active in the Community!
Your credit union staff put the statement “people helping people” into action by volunteering their time and talents in a variety of ways. Many staff members serve on boards, councils, and committees; we are active in a variety of community organizations; and we are happy to help anytime we can.
As a group, we volunteer our time in many ways. For several years, we participated in the annual Bowl for Kids’ Sake, Big Brothers Big Sisters of Armstrong County’s major fundraiser, as a sponsor and fielding teams comprised of credit union staff members and their family and friends. We also worked in the bingo tent at Heritage Days, and have had a team, the Credit Union Hikers with Hope, at the Ford City Relay for Life for several years.
We have participated in the Armstrong County Community Action Agency’s Christmas Adopt-A-Family program. For the past several years, we have adopted families with young children, providing them with a happy holiday. This program is possible through funds collected from our Dress Down Days, matching funds and other generous donations from staff. Our staff also participates in local Light Up Nights, 5K Races, and many other events and activities.
We have gladly provided tours of our offices and discussions on money and financial topics to groups and organizations. If you are interested in such a program for your organization, contact the Marketing department.
We thank our members for their support of our activities and we welcome your involvement with us!