Credit unions are "Not-for-Profit" financial institutions. "Not-for-profit" is another term for "nonprofit" except that credit unions do not conduct fundraising or solicit donations to make income. Rather, credit unions earn interest on the loans they lend to provide income for the operations of the credit union. Another difference is that credit unions are required to maintain a minimum of 7% of their asset size in cash reserves to absorb potential windfalls, making a credit union a very secure place to keep your money. Visit the About Us page for more information about Members 1st Credit Union.