Corning Cable Systems Credit Union was charted in 1962 and originally served the employees of Superior Cable. The Credit Union is a federally insured state charted Credit Union.
How Credit Unions Started
Credit unions owe their existence to the far-sighted weavers of Rochdale, England. In the 1840s, they decided to pool their money for the purpose of lending it to each other. Today, over 70 million Americans are credit union members, believing in the power of "people helping people".
The "Share" Concept
As a non-profit cooperative, Corning Cable Systems Credit Union offers membership "shares" to in the form of savings deposits. The earnings on your savings are called dividends (interest). And, based upon the Credit Union principle of equality, each member has one vote - regardless of the balance (or number of shares) in his or her savings account.
Credit Union membership is an experience of a lifetime and one that should be shared! What makes credit unions unique and why should you, your family and co-workers join a credit union? The reasons are endless and here are just a few!
1. Higher rates on savings, high yielding investment vehicles.
2. Lower rates on loans.
3. Fewer, and in many cases, no fees on basic products such as checking, VISA Check Card, and ATM access.
4. Credit Union membership has a domino effect, without an expiration date. Once you've become a member, your relatives and anyone living in your household are eligible too. Your membership remains intact regardless of whether you remain at your current position or seek employment elsewhere.