What is a credit union?
A credit union is a member owned not for profit organization that exists to serve its members. Credit unions focus on providing a safe place to save and borrow at reasonable rates and provide a wide array of other financial services. Members elect our Board of Directors. In order to join the credit union, you must be eligible to be part of our field of membership.
Why choose a Community Development Credit Union (CDCU)?
As Vermont’s only Community Development Credit Union, we provide financial services at reasonable rates in areas that are often underserved or un-served by other financial institutions. This important CDCU designation gives us access to more sources of deposits and capital. As such, we are permitted to accept deposits from individuals and organizations that do not fall within the requirements of “Membership”. These are referred to as “Non Member Deposits”. Non-member investors often invest their money with us because they believe in the mission of bringing financial services to low income and underserved populations and want to build strong communities.
Are you eligible for membership?
If you meet one of the following categories and reside in the state of Vermont you are eligible to become a member of Opportunities Credit Union.
- Non-Profit or Religious organizations and employees, volunteers, members, or clients of these groups
- Residents and business owners in:
- The low-income area designated as the Old North End in Burlington
- Residents and business owners in the City of Winooski
- Employees of Opportunities Credit Union
- Relatives of individuals who qualify for membership under any of the above categories
- Individuals, groups and businesses can become members by signing the Statement in the Membership Application that affirms,:
- “I/we want to help build a fair and affordable financial system serving all Vermonters.”
Not sure if you qualify for our field of membership? Want to find out how to invest as a Non-Member Depositor. Invest today!
Call us at 1-800-865-8328
NCUA Share Insurance Coverage
Opportunities Credit Union is federally insured by the National Share Insurance Fund (NCUSIF). The NCUSIF is operated by the National Credit Union Administration (NCUA), a federal government agency, backed by the full faith and credit of the United States government. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 increased the maximum share insurance coverage at all federally insured credit unions to $250,000. Account balances in excess of $250,000 at a federally insured credit union can be fully insured if properly structured. For additional information on NCUA’s share insurance coverage, see Share Insurance Coverage.