CU Difference

Project Differentiation is a project that involves factual data on why your credit union is important and fundamentally different from a bank. Click Project Differentiation for more detailed information on DCCU and how the Credit Union is differentiating itself from other financial organizations to provide superior service and beneficial products to you the member. 

Although the Credit Union offers similar services as a bank, the Credit Union is not a bank. The Credit Union is composed of members that take part in a not-for-profit, full service financial cooperative that shares its successes with its members. This cooperative structure enables DCCU to distribute profits to the membership in the form of:

• Higher dividends on savings
• Lower interest rates on loans
• Low or no fees for services
• State-of-the-art technology

Members are the owners of the Credit Union and each have an equal voice. Economic democracy is practiced at the Credit Union by you, the member, voting annually for the Board of Directors. Everyone has a voice.

Listed below are some key differences between credit unions and banks:

Credit Unions	Banks
Common Bond to Join	Anyone can join
Not-for-profit	For profit
Members	Customers
Board of Directors elected by members	Board of Directors elected by stockholders
Board of Directors are volunteers	Board of Directors are paid
Member Owned (one vote per member)	Stockholder Owned (no votes for customers, only Stockholders)
Fewer to no fees	Fee Driven

Our "common bond" was once based on those who worked at E.I. DuPont de Nemours & Company and other related companies in Waynesboro. Their families were also able to join. Since 1997 the credit union now serves a geographic area, not a specific company.

Our doors are open to everyone who lives, works, worships or attends school in the counties and cities listed below. Businesses and other legal entities are eligible as well.

Augusta	Waynesboro
Rockingham	Staunton
Rockbridge	Harrisonburg
Highland	Lexington
Bath	Buena Vista
Shenandoah

In addition, individuals within the immediate family or household of eligible persons can join the Credit Union as well:

Spouse	Grandparents
Children	Grandchildren
Parents	Brothers & Sisters
Step Relations (step-children, for example)