Parkside Credit Union is a not-for-profit financial cooperative and has been providing financial services to members and their families since 1953. The credit union is owned, controlled and operated for the benefit of its members. After operational expenses and reserve requirements, Parkside returns profits to you, the member, in the form of higher rates on deposits, lower rates on loans, and numerous other financial services. As a member/owner, you also have the privilege of voting for the Board of Directors, and participating in a wide range of financial programs.

 

When you are a member of Parkside Credit Union, you remain a member for life, even if you move, change jobs or retire. All you need to do is maintain an active balance of one share in your savings account. And, once you are a member your immediate family is also eligible to join the credit union.

 

History Of Credit Unions

The credit union movement originated in 1849 when the mayor of a small village in Germany wanted to help his citizens recover from physical and financial devastation. His idea was to have people pool their savings and make low interest loans to each other. His plan worked well and the idea caught on quickly and spread across Europe.

Manchester, New Hampshire was the sight of the first credit union established in the United States in 1909. It was based on the same principles of combined savings and low interest loans. Today, there are over 12,000 federal and state chartered credit unions. The popularity of credit unions is due to many contributing factors, but primarily it is the quality of service they provide to members.