Benefits of Membership

What is a credit union anyway?
A credit union is a not for profit financial institution, owed by the people who use its services. These people are members. A credit union’s leadership is made up of staff and volunteers and serves groups of people with a common bond, such as where they work, live, or go to church.

Credit unions exist to provide a safe place for members to save and borrow at reasonable rates. The National Credit Union Administration, an agency of the federal government, insures deposits of credit union members for up to $100,000.

How is a credit union different from a bank or savings & loan?
Banks and savings & loan institutions are in the business to make a profit by their stockholders, whose interest includes a healthy return on their investments.

Why should you join a credit union?
A member of a credit union has access to low-cost financial services with fewer fees, lower rates on loans and higher savings rate. As a credit union member, you will join the more than 67 million Americans who trust that their credit union will provide the services necessary to improve their financial well being.

Credit unions strive to offer the best service possible to their members.



The USA Patriot Act was issued by the Department of the Treasury, the Financial Crimes Enforcement Network and the seven functional regulators, including the NCUA. The Patriot Act requires that all financial institutions establish procedures for identifying and verifying the identity of persons that open new accounts. This act helps our government fight the funding of terrorism and money laundering. The procedures are designed to combat crime.

MDOT Federal Credit Union has always taken your financial security seriously. That is why when you open an account with us we request such information as your name, address, date of birth, and an identification number such as your Social Security number and/or a photo I.D. like your driver’s license.

We will continue to assist the government in the war against terrorism by taking steps to recognize account fraud that terrorists use to finance their operations.


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“This credit union is federally insured by the National Credit Union Administration.”