About the Credit Union
Other financial institutions focus on money. From the start, credit unions have focused on people, dreams and results. The difference is most evident in how credit unions are governed, how they define their purpose, the benefits they offer their members and the values they bring to their communities.
Our History
Wisconsin Education Association Credit Union was established by WEAC in 1931 as a member cooperative that would offer a wide range of financial services to the teachers of Wisconsin. The credit union would provide them with a safe place to deposit their savings and obtain reasonably priced loans.
The reasons for developing a credit union in 1931 during the Great Depression hold true even today. There are still predatory lenders who take advantage of unwary borrowers, profit-hungry banks who charge high fees for service and investment sales representatives who are only interested in their commissions.
WEA Credit Union serves its members by offering them a safe place to save, a low-cost place to borrow and very low, if any, service fees.
The Credit Union Difference
Credit Unions are not-for-profit member-owned cooperatives distinquished by their:
Purpose - to serve members
Governance - volunteer directors elected by members
Member benefits - earnings invested in members and the community
Values - in the people, not profits
