Welcome to Ownership!

CTCU is a financial cooperative, owned by its members. Based on the simple principle that ordinary people could pool their money and make loans to each other, CTCU was chartered in 1953 by a group of Smith County educators determined to help educators, their families and all other school personnel improve their lives by providing valuable financial services with the benefits of ownership.

Through the years, we have grown in assets, in members, in offerings…and have even extended our BANKING SERVICES to seven surrounding counties. Yet one thing has remained unchanged – our devotion to our neighbors, friends, family – and the community we call home.

How is a credit union different from a traditional bank?

You own your credit union. Credit unions are member-owned nonprofit financial cooperatives. Every member is an owner with an equal vote in the election of the credit union’s volunteer board of directors.  Credit unions return earnings to their members in the form of lower rates on loans, higher dividends on savings, and fewer and lower service fees.

As with other financial institutions, credit unions are regulated by state and federal agencies.  The funds credit union members deposit are insured by the National Credit Union Administration (NCUA) up to $250,000.