Canaan credit union is a financial institution owned by its members. We are a financial cooperative, consisting of a group of individuals who banded together to create their own bank for the mutual belief of everyone in the group. “It is your self-help route to financial independence”. It is where members are owners and not just customers.
Credit unions have built-in profit margins and profits are not distributed solely to an elite group of shareholders. All revenues generated by the credit union are used to cover basic administrative expenses; the remainder is distributed back to the members in the form of reduced fees, higher savings rates, and lower loan rates.
Canaan Credit Union Mission Statement
Canaan Credit Union is a not-for-profit financial institution owned by its members to foster long-term financial empowerment of the constituents through cooperative and collective economics.
Canaan Credit Union functions in a manner that maintains long-term financial stability through educating, encouraging, and enabling its members to achieve security.
Canaan Credit Union partners with committed stewards to insure a sound and rewarding financial future for families, singles and children.
State Chartered, Federally Insured
Canaan Credit Union is state-chartered by the Department of Financial Institutions (DFI), and federally insured by the National Credit Union Administration (NCUA).
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