Do you ever wonder what happens to your money when you bring it to the credit union? When you visit Navigator Credit Union, you’ll meet a friendly employee who counts your money and gives you a deposit slip in return. What happens next?
- Does your money go into a big vault with a lock to keep it safe?
- Does it travel through secret tunnels inside the credit union (like those tubes at the drivethrough window)?
- Or does the money go somewhere else outside the credit union?
A small amount of cash is locked away inside the credit union. But most of the money is used to help people borrow and pay for the things they need.
Here’s how it works: When a grownup needs money to buy a car or a home, they might borrow money (a loan) from the credit union. The loan is paid back over time, plus some extra money (called interest).
When you save your money in a savings account, your account may earn interest. That means you can earn extra money, too!
IS MY MONEY STILL THERE?
Yes! We keep a record of the amount of money deposited in your account. Your money is safe and you can take it out anytime. Of course, you’ll save more money faster if you keep it growing in your account at Navigator Credit Union!