When you’re a member of Espeeco Federal Credit Union, you’re not just a customer but part-owner of your credit union. Member assets are pooled to provide loans and other financial services to fellow members.
Credit unions are not-for-profit, which means that instead of dividends going to shareholders, the profits are put back into the credit union to bring members lower fees and better rates.
Espeeco Federal Credit Union of Bakersfield, CA has 1,500 members and assets of $12 million. The credit union, opened in 1954, has 3 full time employees, or 500 members per employee, compared to a national average of 457.