What is a Credit Union?
A credit union is a member-owned, not-for-profit cooperative that is owned, managed and utilized by its member-owners. The Board of Directors is elected from and by the general membership and are unpaid volunteers. The members are both the “stockholders” and the “customers”. Therefore, any “profits” the credit union realizes are returned to the member-owners in the form of lower loan rates, higher savings rates, lower fees and stronger capital than for-profit, stockholder-owned and controlled banks.
Community Service
Telco Community Credit Union has a long history of embracing the Credit Union motto “People Helping People”. We go beyond helping members with financial services and proudly engage with our communities with charitable services.
This year the Telco Charity Fund donated over $18,000 to local charities and members going through unforeseen financial hardship.
- Support to individual members for heating bills, medical expenses, short-term housing, school supplies
- Christmas gifts for children who otherwise would receive very little if anything
- Local charities include Eblen Foundation, WNC Rescue Mission, Shriners, Fraternal Order of Police, Fire Fighters Associations, Community Centers, Health and Dental Ministry
Telco is a Nine-Time recipient of the Dora Maxwell Social Responsibility Community Service Award, recognizing outstanding activity in community support.
History
Telco Community Credit Union has been providing financial services to communities in Western North Carolina for over 80 years. We were organized in 1935 to serve the employees of the Southern Bell Telephone System. Today, we are a community-chartered credit union serving 21 counties.
For a more detailed chronicle of our history, click here.
Telco Community Credit Union is a not-for-profit financial cooperative owned by its members. This means that as a credit union member, you are never a customer, but a full partner and owner. The credit union motto “People Helping People” is demonstrated in every transaction that takes place at Telco Community Credit Union. We promise each member personalized service and individualized financial attention.
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