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Membership Questions

What is a credit union?
Who owns a credit union?
What is the purpose of a credit union?
Who runs the credit union?
What amount of interest will I have to pay?
If I join the credit union, do I have to save?
Is the credit union a safe place to keep my money?
If I save with a credit union, will I get dividends?
If we never had any credit - how can I get a loan?
How much does it cost to be a member?
What are the qualifications for joining the Greater Kinston Credit Union?

What is a credit union?

A credit union is a group of people who agree to save their money together and to make loans to each other at low interest.

Who owns a credit union?

You! Each member who buys one share at $5.00 per share in a credit union is a voting member and an owner. No matter how many shares you own. you still only have one vote.

What is the purpose of a credit union?

The purpose is to encourage you to save money by buying shares; and to save money by borrowing at a lower interest rate.

Who runs the credit union?

The Board of Directors and Credit Committee who are chosen by you from other members like you.

What amount of interest will I have to pay?

The Credit Union will not charge more than 1 ¼ % interest every month on the amount you have to pay back.

If I join the credit union, do I have to save?

No. you do not have to save, but if none of the members saved there wouldn't be any money for the Credit Union to lend. Therefore, it is important that every member save regularly -even if it's just a little.

Is the credit union a safe place to keep my money?

Credit Union employees who handle your money are bonded. The records of a Credit Union are checked regularly by the State Examiners and a Credit Union Supervisor. Each account is insured up to $250,000 by NCUA.

If I save with a credit union, will I get dividends?

Yes, from the earnings of a Credit Union, we pay competitive dividends.

If we never had any credit - how can I get a loan?

The fact that you have never had credit would not in itself prevent you from getting a loan. Loans are primarily based on character, collateral and the ability to repay the loan when due. A Credit Union is made up of people like you. When you borrow from a Credit Union, You borrow your own neighbor's money. Surely they know whether or not you are worthy of their trust in you. A Credit Committee elected by the members makes the final decision.

How much does it cost to be a member?

$5.00 is the membership fee. However, in order to take out a loan or vote, you must have a $5.00 share in the Credit Union.

What are the qualifications for joining the Greater Kinston Credit Union?

Residing or working in Lenoir, Greene Craven, Jones and Pitt Counties.

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Contact Us

Will the Credit Union contact me by email?
The Credit Union will not contact members by email.

How can I contact the credit union?
The credit union can be contacted by mail, phone or email. For numbers and addresses, refer to our Contact list.


*Quoted rates, dividends, annual percentage yields (APY) and rates (APR) are subject to change daily at the discretion of the Board of Directors.