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 90 million U.S. consumers are member-owners of, and receive all or part of their financial services from, the nation's 7,909 credit unions.
PHILOSOPHY & STRUCTURE
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.
Message from the President:
Welcome to Archer Cooperative Credit Union's Website. After viewing our information, we hope you will agree that we are a credit union operating under the philosophy of "people helping people". As a not-for-profit financial institution, our goal is to provide financial products and services at a low cost to our members. As a result, you can save through lower loan interest rates, higher deposit rates and services, often without fees.
Since 2001, Archer Cooperative Credit Union has been nationally recognized amoung credit unions for delivering superior value to our member customers. The rating is based upon our deposit and loan interest rates, the variety of products and services provided and their usage by our members. The recognition is truly an honor for our credit union.
We invite you to visit with us at our Archer, Chapman, Central City, and Dannebrog locations or call us at 308-946-3070(Central City), 308-795-2204 (Archer), 308-986-2203(Chapman), or 308-226-2220 (Dannebrog) . We have our credit union structured to fulfill our motto, "We can make a difference in your life".
Steve M. Lamon
President/CEO
CREDIT UNION HISTORY
The "roots" of Archer Cooperative Credit Union date back to 1906 when the Citizens State Bank of Archer was chartered at Archer, Nebraska. In 1934, the bank was rechartered to a Agricultural Cooperative Credit Association. After 50 years of service to the community, we recharterd as a credit union to gain Federal deposit insurance. Our history now spans over 100 years of financial service to residents, farms and businesses in Central Nebraska.
Join Archer Cooperative Credit Union and become a part of our history!
SAFETY & SOUNDNESS
Credit unions primarily engage in consumer loans and residential real estate lending to their members. Credit union performance is at a historically high level. Currently, credit union capital nationwide is strong. Deposit accounts are federally insured to at least $250,000.00.
REGULATION & SUPERVISION
Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), an independent agency of the U.S. Government. NCUA's three board members are nominated by the President and confirmed by the Senate.
State chartered credit unions are regulated by their state credit union department. NCUA administers the federal insurance fund,NCUSIF, which covers all federal credit unions, and most state chartered credit unions. No taxpayer money is used for regulating and overseeing federal credit unions, as all activities of NCUA and the NCUSIF are funded by credit unions. Archer Cooperative Credit Union is a state chartered credit union.
CREDIT UNION MISSION
Archer Cooperative Credit Union is a full service credit union providing products and services needed within its community and agriculture charter. Our experienced and knowledgeable staff insure familiarity with our member's personal and business concerns and we make appropriate decisions in the best interests of our members. Our long-term outlook and long history guarantees our commitment to the industry and our members. Our Archer,Central City,Chapman, and Dannebrog locations are enhanced by local decision-making and benefits returned to the community. Archer Cooperative Credit Union has a standing policy of dedication to member service and competitive offerings and rates.
LEGISLATIVE UPDATE
When legislation or bankers' lawsuits attack any credit union, it's an attack on all credit unions. Your Credit Union proudly protects members' right to join and participate in their not-for-profit financial cooperative.
BENEFITS OF MEMBERSHIP
Founded on the basic democratic premise of the cooperative movement, credit unions believe that access to low-cost financial services is critical to the health and stability of ordinary citizens.
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