Global
Cooperative Principles for Georgia Credit Unions
- Members,
Not Just Customers – By joining a credit union, people become member/owners.
Members expect more value and deserve more respect than
is available in the typical customer interaction at non-cooperative
financial institutions.
- Democratic
Control – Members have equal influence in the voting process and equal
opportunity to run for election to the board. One member,
one vote. Once elected, directors have fiduciary responsibility
to all members.
- Service
Differentiates – Democratic control provides a decision-making environment
that elevates creating value for the members above profit
accumulation at the credit union. It is the dedication to
providing service that differentiates credit unions from
for-profit suppliers.
- "Profits"
Belong to the Members – In order to grow and provide new services, credit unions
generate capital by retaining a portion of earnings. These
retained earnings are used for the betterment of the entire
membership.
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