Actually, you do! Look at the difference…

Banks are owned by stockholders, who are only in business to make a profit. Every action at a bank is geared toward making a profit for those stockholders.

Credit Unions, on the other hand, have no stockholders. They are owned by the members (account holders). Any profits are returned to the account holders in the form of lower loan interest rates, higher rates on savings, lower fees and additional products and services. As account holders, or members of your credit union, you elect volunteers to serve as GenFed’s board of directors. These volunteers determine GenFed’s direction and make important decisions about GenFed’s future.

GenFed's Board of Directors is composed of 7 individuals, 2 male, 5 female, with many years of combined service.  The group of dedicated individuals also serve on committees including the following:

Pension/Trustees:  3 members

Executive Committee:  3 members

Nominating/Program Committee:  3 members

ALCO (Asset/Liability Committee):  8 members

Supervisory Committee: 3 members