Mission Statement

Independent Federal is committed to being the primary financial institution
and to making a difference in the lives of its members by providing a full
range of products at competitive prices while maintaining a sound financial
institution.

How are Credit Unions Different than Banks?

There has been a lot of discussion in the press recently about credit unions, as a result of the recent lawsuits that banks filed, and lost, against the credit union movement. Many people, however, do not understand what a credit union really is, and how it differs from a bank. A credit union is different than a bank in that it is:

Credit Unions	Banks
Not for profit Owned by its members Volunteer Board of Directors Supervised by Volunteer Supervisory Committee	For Profit Owned by stockholders Compensated Board of Directors Compensated Audit Committees

A Credit Union is "by the members, and for the members".