What are credit unions and how do they work?

DENVER - When it comes to managing your money… alot of you have questions about credit unions and how they work.

We've told you that credit unions are not-for-profit - so when you become a member of a credit union… you also become an owner.

Excess profits are returned to members through credit union services and dividends.

But what does it really mean to be a credit union member and owner?

We went to our partners at Westerra Credit Union to find out.

"Our members elect a board of directors who are unpaid volunteers and members of the credit union they make all the decisions in the best interest of the credit union," said John McCloy, CEO of Westerra Credit Union. "There are no outside stockholders."


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