Democratic Structure
Open & Voluntary Membership
Membership in a credit union is voluntary and open to all within the accepted common bond of associa­tion that can make use of its services and are willing to accept the corre­sponding responsibilities.

Democratic Control
Credit union members enjoy equal rights to vote (one member, one vote) and participate in decisions affecting the credit union, without regard to the amount of savings or deposits or the volume of busi­ness. Voting in credit union support organizations or associations may be proportional or representational, in keeping with democratic principles.

The credit union is autonomous, within the framework of law and reg­ulation, recognizing the credit union as a cooperative enterprise serving and controlled by its members.

Non Discrimination
Credit unions are non-discriminatory on all grounds, including but not lim­ited to race, orientation, nationality, sex, religion and politics.

Services to Members Distribution to Members
To encourage thrift through savings and thus to provide loans and other services, a fair rate of interest is paid on savings and deposits, within the capability of the credit union.

The surplus arising out of the operations of the credit union after covering the cost of finance, operating costs, provisions for loan losses and ensur­ing appropriate capital reserve levels, belongs to and benefits all members with no member or group of mem­bers benefiting to the detriment of others.

This surplus may be distrib­uted among members in proportion to their transactions with the credit union, as dividends on shares or directed to improved or additional services required by the members.

Building Financial Stability
A prime concern of the credit union is to build the financial strength, including adequate reserves and internal controls that will ensure continued service to membership.