What is a credit union, you ask? Here’s the answer: Credit unions are not-for-profit financial institutions that serve what we call “member-owners.” That’s because, unlike banks, credit unions are owned by their members, who open checking and savings accounts with money that is then pooled into the pot.

A financial institution like Sebasticook Valley Federal Credit Union is a money cooperative — built on community — whose members can borrow from pooled deposits at low interest rates. In this way, the checking and savings accounts that our members open actually support other members of the credit union, whether it means getting that mortgage for a dream home or securing a life-changing business loan. Unlike bank customers, credit union members directly benefit other members — it’s called people helping people.

With our flexible lending structure, Sebasticook Valley FCU members can achieve their financial goals, taking advantage of low interest rates and an unparalleled ease of borrowing. From mortgages to home equity loans and draft lines of credit (overdraft protection), we offer a wide range of options to Mainers in need of assistance. We are proud to assist dozens of communities in the heart of Maine, serving Franklin, Kennebec, Penobscot, Piscataquis, Somerset and Waldo counties.

Even if the answer to a loan inquiry happens to be “no” the first time around, we can help people find the resources needed to get a “yes” down the road — during good times or bad. Credit union loan approval odds tend to be more favorable than if you choose to work with a larger, more impersonal lender. Plus, we can generally offer lower fees and higher savings rates, yet another testament to our unique sense of community.

Whereas the banking industry’s primary obligation is to shareholders, not customers, credit unions serve their members first and foremost. That’s why, for the best possible service, customers should put their trust — and money — in a credit union instead. Check out Sebasticook Valley FCU’s website for the latest loan rates and much more.