Credit Union Difference

What Sets Credit Unions Apart?

Credit unions offer a community-focused, member-owned alternative to traditional banking services. Unlike for-profit banks, which prioritize shareholder profits, credit unions serve the needs of their members. This fundamental difference influences all aspects of credit union operations, including the products they provide and the values they promote.

Additionally, credit unions are closely connected to local communities. This enables them to deliver personalized service and a strong commitment to financial education that goes beyond simple transactions. Many credit unions enhance financial wellness by providing free workshops, counseling, and youth savings programs.

Discover why credit unions are not only different but also make a positive impact by exploring the following resources.

The Difference Between Credit Unions and Banks

Credit Unions

Ownership: Member-owned; each member is a part-owner.
Income Model: Not-for-profit; earnings returned to members via better rates and lower fees.
Governance: Democratically controlled; one member, one vote.
Focus: Focused on members' needs, not shareholders.
Rates & Fees: Offer higher savings rates, lower loan rates and fewer/lower fees.
Community Involvement: Often community-based and mission-driven.
Service Approach: Personalized, relationship-based service.
Eligibility: Must meet membership requirements (location).

Traditional Banks

Ownership: Shareholder-owned; focused on maximizing investor returns.
Income Model: For-profit; profits go to shareholders.
Governance: Controlled by a board elected by shareholders.
Focus: Prioritizes profit over customer needs.
Rates & Fees: Often lower savings rates, higher loan rates and more fees.
Community Involvement: Less locally focused; community involvement varies.
Service Approach: Standardized service; may be less personal.
Eligibility: Open to the general public with no membership restrictions.

The Ascentra Difference

What Sets Ascentra Apart?

Unlike banks, we don’t answer to stockholders or investors, we answer to YOU. As a local, democratically controlled not-for-profit, each member of Ascentra Credit Union owns a share in the credit union. When you join Ascentra, you are not a customer you're a member-owner and are treated as such.

We put people before profits. Those profits then go back to you, in the form of lower interest rates on loans, higher returns on your deposits, and lower fees.

For our 40,000 members who directly benefit from our cooperative model, it's more than just about financial services, it’s about being part of an organization made up of people who genuinely care about your financial well-being and the communities we serve. An organization that is always listening, caring, and doing what’s right.

Ascentra Scholarship Program

Each year, Ascentra offers up to $15,000 in scholarships to assist student members planning to further their education through undergrad programs, continuing education (post graduate) or through trades/vocational programs.

Applications open in October and close in March of each year.

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Ascentra Foundation

The mission of the Ascentra Credit Union Foundation is to improve the quality of life for the membership of Ascentra Credit Union and further the philanthropic outreach in the communities we serve.

$1,035,092

in local charitable
contributions since 2015

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How Does Gas Price Impact Your Summer Vacation

Jun 30, 2026

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Make Summer Travel More Affordable

June marks the start of summer vacation season, but this year’s travel planning is happening in a vastly different economic environment. With inflation still pressuring household budgets and gas prices climbing across much of the U.S., many families are taking a closer look at what a trip will really cost before they pack the car. The good news? A few smart choices before you leave, and along the way, can help keep more money in your pocket.

Get the Most from Every Fill-Up

Rising gas prices are one of the most noticeable ways the economy affects daily life. As summer demand increases, even routine road trips can feel more expensive before they begin. Federal tracking showed the U.S. average at about $4.50 per gallon in the latest update, while AAA’s daily average recently moved above that level. That means efficiency matters more than ever. Start with the basics: check your tire pressure before you hit the road, remove heavy items you don’t need, and avoid rapid acceleration and hard braking. Maintaining a steady speed and using cruise control when conditions allow can help improve fuel economy over long drives.

Also consider timing and routing. Planning your fill-up stops before you leave can reduce last-minute, high-priced purchases near tourist areas. Gas price comparison apps such as GasBuddy or Mudflap can help you find lower-priced stations nearby and along your route.

Understand the “Hidden” Costs of Fuel

When fuel costs rise, they don’t just affect your drive, they can influence prices throughout the travel experience. Higher energy costs often ripple into airfare, lodging, food, and entertainment, which is one reason many consumers are feeling stretched in today’s economy. Recent inflation data showed overall prices rising 3.8 percent year over year, with energy going up sharply and gasoline going up even more. A simple strategy is to prioritize what matters most: set a daily spending target for fun extras, look for bundled attraction passes, and consider free or low-cost local options such as parks, festivals and community events to balance bigger-ticket activities.

How Ascentra Can Help

If you’d like added flexibility for summer plans, Ascentra Credit Union offers options that may help you manage cash flow. A personal loan can be a way to cover planned expenses, like a family trip, with predictable payments. Prefer to plan ahead? A club savings account can help you set aside money throughout the year for seasonal spending. And if an unexpected expense hits at the wrong time, Skip-A-Payment may allow eligible members to defer a loan payment (processing fees and restrictions apply).

Bottom Line

Every trip has its own challenges, but a little planning can go a long way. Map your route and fill-up locations, use available tools to compare prices, and practice fuel-smart driving habits. Whether you’re traveling far, staying close, or enjoying a staycation, Ascentra is here to help you make summer more affordable, and more enjoyable.