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Financial Plus Credit Union is a financial cooperative, owned and operated by its members. This is what distinguishes the Credit Union from other financial institutions. Members put their money in a variety of savings accounts and that money in turn is lent to other members.

Sometimes you will hear your Credit Union referred to as non-profit. Credit Unions earn profits, but that money, after operating expenses and reserve requirements are met, is returned to you in higher dividends on savings, lower fees or no fees, and reduced loan rates. The difference is that the Credit Union was organized to help members, not for the specific purpose of making money.

FPCU is governed by a Board of Directors that establishes and reviews policy. The Board consists of Credit Union members who are elected by the membership and who volunteer their time, in contrast to those in the banking industry who are paid for their services.

Every member of Financial Plus has one vote, regardless of how much he or she has on deposit. There is no select group of shareholders that profits more than anyone else. ALL members profit - individually and collectively.

FPCU is a state-chartered Credit Union, organized under strict regulatory laws that are monitored and enforced by the Illinois Department of Financial Institutions - Credit Union Division.

What Makes Financial Plus Credit Union Different?

Financial Plus Credit Union differs from banks in some fundamental ways. In addition to those already explained, here are some other ways Financial Plus is different and some of the different terminology we use.

Share Account

Your Savings Account at the Credit Union is really called a "Share Account." That's because you are a "shareholder", making you a part owner in the Credit Union.


The interest paid on your savings account, club accounts or saving certificates is called a "dividend," because it's really the money you have earned as a shareholder.

Share Draft Account

Technically, your checking account at Financial Plus Credit Union is called a "Share Draft Account." That's because what you are really doing is writing a "draft" against your shares with the Credit Union.


Those volunteer directors are elected by the membership of the Credit Union. Not only do you have the opportunity to vote for members of the Board, but you may run for the Board as well.