About Credit Unions
Many people are unsure of what sets a credit union apart from
another financial institution. We are different for three
- We're a nonprofit organization. After
our expenses are met, all of our profits go back into the
credit union, resulting in fewer fees, lower loan rates
and higher dividends. We’re not for profit, but for
the benefit of our members.
- We’re a cooperative. Everyone who
has a regular share savings account
owns a piece of the credit union. As a member/owner, you
have say in how the credit union is run, and you can even
vote for or volunteer to serve on our board of directors.
We don’t answer to stockholders; in fact, we don’t
- Our members share a common bond. Our
membership is not open to the general public. When you become
a member of our credit union, you are joining a community
of your peers. The credit union philosophy is “people
About Cecil County School Employees’
Federal Credit Union
In 1953, many Cecil County school teachers were struggling
financially. This was especially true for new hires, since
they did not receive their first checks until after a month
of teaching. Cecil County School Employees’ Federal
Credit Union was formed as a way for them to borrow money
for rent and other necessities. Their loans were funded through
deposits from other members.
Since then, our member base has expanded to include many
additional employee groups. But we still hold true to our
roots in the education community. Our credit union started
with just seven members. It has since grown to a size of over
3600. But we still think of all of our members as family.
Click here for
more information on membership, and to fill out an application.