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The Credit Union Difference

So what is a credit union?

A credit union is a not-for-profit financial cooperative that is owned by its members. Credit Unions were organized to promote thrift and promote credit to its members.

Here are some of the primary features of a credit union:


At a credit union, stock-holders are not the owners, members are! Each members deposit makes up their share of ownership in the credit union. Regardless of the size of their deposit, each member gets one vote. Though credit unions require that you fall under their field of membership to join, there are so many credit unions existing today that you are likely eligible to join multiple. DFCU’s field of membership is open to anyone who lives, works, attends school, or worships in Clinton County.


Credit unions are not-for-profit, so there are no stock-holders to pay. Profits are returned to members through high dividends on savings accounts, low interest rates on loans, and low fees.

Volunteer Board of Directors

Credit Unions have a Board of Directors comprised of a group of member volunteers. Members of the credit union democratically elect the Board of Directors. The volunteer Board of Directors is unpaid, so they are able to make decisions in the best interest of membership, without the influence of money.

Insured Shares

As a federal credit union, your savings are federally insured by the National Credit Union Administration for up to $250,000, so you can have peace of mind knowing that your money is safe.

And most importantly as a member and an owner, you will never be treated as just an account number; you will be treated as a person.

Dannemora Federal Credit Union's Mission

It is our mission to be our members primary financial institution by providing quality services, exceeding member expectations, and supporting our local community.