Membership with CES Credit Union
has been a valued asset for hundreds of central Ohio families since 1952.
This, and all credit unions, are a not-for-profit financial cooperative owned by our members (customers). You can become a member of CES Credit Union if you live, work, worship or attend school in either Knox, Delaware, Ashland, Richland or Licking counties of central Ohio.
Plus we offer our membership to the employees of over 50 select employers or groups (see below), and to the family members of our present members (son, daughter, spouses, siblings, grandparents).
If you have a question whether you may become a member of CES Credit Union, you may call our Marketing Dept. at 740-397-1136 ext. 108, by e-mail to marketing@cescu.com, or stop into any office for more information.
Because we are owned by our members, we function as a not-for-profit entity, funneling our efforts back to our members in the form of lower rates on loans and higher rates on deposits than you will find at most for-profit banks and financial institutions.
To explain better the difference between a cooperative and a "for-profit" financial institution, we refer to...
The Seven Principles of a Cooperative
- Voluntary and Open Membership
Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.
- Democratic Member Control
Cooperatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. Members have equal voting rights - one member, one vote.
- Members' Economic Participation
Members contribute equally to, and democratically control, the capital of their cooperative. A cooperative business returns margins to their patrons. Any margins (or profits) are credited to each member's capital credit account. Each member's share of the capital credits for the year depends on the amount each individual paid into the cooperative during that year and on the total margins of the cooperative for the year. Capital credits are retained for a number of years and the money is used as operating capital. Retaining capital credits reduces borrowing needs. Capital credits are paid to all people who were members in a certain year. Each year members receive a notice showing the amount of capital credits that have been credited to their account for the past year.
- Autonomy and Independence
Cooperatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their cooperative autonomy.
- Education, Training, and Information
Cooperatives provide education and training for their members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperatives. They inform the general public about the nature and benefits of cooperatives.
- Cooperation Among Cooperatives
Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional, and international structures.
- Concern for Community
While focusing on member needs, cooperatives work to improve the quality of life in the areas they serve.
The single principle of a "for-profit" entity or business is "to maximize shareholder wealth."
With this information, you can choose the organization that will best serve your needs and interests.
These employer partners offer CES Credit Union benefits to their employees ...
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