Credit unions are not-for-profit cooperatives. Unlike other financial institutions that focus on profit and stakeholders, credit unions are comprised of members who share their resources, including profits, to help each other. Because they have ownership rights, members also get to vote on the Board of Directors – ensuring member needs are always put first.
At Desert Schools, we’re committed to helping our members achieve their financial goals by providing innovative tools, resources, products, and services that uniquely address the needs of our community.
As our members do more business with us, we’re able to offer even more attractive rates, higher dividends, cash back rewards, free services, and membership perks, while giving generously to help strengthen local communities.
|Points of Difference||Credit Unions||Banks|
|Ownership||Owned by members||Owned by shareholders|
|Where do profits go?||Back to members and the community||Shareholders|
|How products are developed||To address the needs of individuals in the local community||To maximize the profits for shareholders|
|Financial advocacy||Advocates for members and families||Advocates for shareholders|
|Board of directors||Elected by members||Elected by shareholders|
|Board of directors pay structure||Unpaid volunteers||Paid by shareholders|
|Federal insurance||Up to $250,000 by the NCUA||Up to $250,000 by the FDIC|
When our neighbors are financially strong, we all succeed. When you become a member of Desert Schools, you not only get the help you need to achieve your financial goals and dreams, but your deposits make it possible for your neighbors to buy their dream home or new car as well.
Thanks to our members, we’ve been able to give back millions of dollars and thousands of hours of time to help other not-for-profits in the community, like the Phoenix Children’s hospital and the United Way. You can feel good knowing that your membership helps your neighbors in need because every dollar stays locally.
It’s just part of who we are.
We have a proven history of forming relationships with members to build and maintain a strong financial institution for our current membership and future generations. Since we are member-owned, our purpose is simple – to protect and grow the assets of our members.
If you're ready to experience a financial institution that’s all about you and your community, we invite you to join the over 300,000 members who have chosen to become a part of something better.