Pulse Credit Union is owned and run by Members. When you make an application to join you also apply to buy a 1 X $10.00 Member Share. When you become a Member you are entitled to attend the Annual General Meeting and vote to elect the Board of Directors. Amongst other things, the Directors are responsible for overseeing the operations of the Credit Union and ensuring the interests of the Members are protected.

Pulse Credit Union is not driven by the profit it makes but the benefits it provides to Members through lower fees, good interest rates and quality service, as well as the creation and maintenance of sufficient reserves to ensure the Credit Union is financially stable.

What is a Credit Union?

A Credit Union is a financial co-operative that is set up and run on co-operative principles for the benefit of Members. Often the Members of a credit union are drawn from the same industry, social, religious, ethnic or community groups. This is known as a Membership Bond. Pulse Credit Union’s Membership Bond in the past was taken from employees within the Health Service Industry and their immediate family. Today we have an open Bond, which simply means we allow friends and extended family of our Members to join, whilst continuing to maintain a high profile within the Health Services Industry.

What is the difference between a Bank and a Credit Union?

Credit Union’s, are owned by Members and run for the benefit of Members. A Bank on the other hand, in offering services to its customers is seeking to generate profits for its owners/shareholders. The difference then is simple a bank must have the interest of its owners, the shareholders, as it’s top priority. A credit union has the interest of its Members, who are the customers, as its top priority. This alone is a great reason to choose a credit union over a bank any day.