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Press Kit
About the Mississippi Credit Union Association (MSCUA)
The Mississippi Credit Union Association (MSCUA) is the official trade association for credit unions in Mississippi. Founded in 1937, The Mississippi Credit Union Association's purpose is advocating the success of Mississippi credit unions. Services include governmental affairs advocacy, staff and volunteer education/training, regulatory compliance assistance and information regarding credit union industry issues.
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About the MSCUA Board & Staff
Board
The Association is owned by its member credit unions and is governed by a twelve-member Board of Directors, elected by, and from, affiliated credit unions in six Districts.
Staff
There are currently eight MSCUA staff members. Charles Elliott, Jr. is President/CEO (
biography).
About Mississippi Credit Unions
Credit unions are member-owned, not-for-profit financial cooperatives offering savings, loans and other financial services. The credit union motto, "Where People are Worth More Than Money™" reflects our ongoing commitment to being the consumer-friendly alternative to for-profit financial institutions.
Mississippi Credit Union Highlights
Number of affiliated credit unions – 97
Number of members – More than half-a-million
Collective assets – Over $3 billion
The Credit Union DIFFERENCE
Are credit unions really different from other financial institutions? Yes, we are! Credit unions are structured differently than any other U.S. financial institution. Here are a few of our differences:
- Credit unions have members, not customers. Unlike other financial institutions, credit unions cannot serve the general public. Credit union membership is limited to persons who share a common bond of employment, association or community.
- Credit unions are not-for-profit. We exist to provide affordable financial services to our members, not profit from them.
- Credit unions return all excess earnings to their members in the form of dividends, lower loan rates, higher deposit rates and fewer or lower fees than other financial institutions. This benefits all consumers because it helps regulate the costs in the overall financial marketplace.
- Credit unions are owned by their members. We are democratically controlled financial cooperatives.
- Most credit unions are run by a volunteer board of directors, elected by credit union members. Mississippi has almost 1,000 credit union volunteers and there are more than 120,000 nationwide.
To this day, credit unions, large or small, regardless of their service offerings, are still without capital stockholders, are still organized and operated for mutual purposes, and are still not-for-profit. That is the "Where People Are Worth More than Money™" difference!
Questions or comments
MSCUA staff is available to comment on issues affecting the financial industry. Please direct your inquiry to Amy Manley at
communications@mscua.com or call (800) 748-8627. Amy can direct you to the appropriate MSCUA staff person to respond to your inquiry or request for comment.