Ventura County Credit Union started in 1950, operating out of the county courthouse.

Our first office was beneath a stairwell. We had only a few employees with one cash drawer.

But we were dedicated to making a difference in the lives of our members. We were determined to put money in people's pockets instead of taking it out through excessive fees and high loan rates.

From those humble beginnings, we've grown into a full-service financial institution, serving members throughout the county. We now have locations in Ventura, Port Hueneme, Oxnard, RiverPark, Camarillo, Thousand Oaks, Moorpark and Simi Valley, California.

And we have more than $1 billion in assets and over 80,00 members - with even greater expansion ahead.

Over the decades, we've regularly added financial products and services, everything from business accounts and wealth management expertise to credit cards and digital banking tools.

But one thing hasn't changed - our commitment to serving our members. At Ventura County Credit Union, we'll always be about people helping people.

Banks vs. Credit Unions

What’s the difference between a bank and a credit union? It's a good question. Both offer similar services - checking and savings accounts, loans, credit cards, etc.

What sets the two types of institutions apart are the business models. Banks are for-profit businesses, run by executives and directors whose primary focus is turning a profit for shareholders. In pursuit of profits, they often charge excessive fees and high loan rates.

In contrast, credit unions are not-for-profit financial cooperatives.

• First, every member of a credit union, including Ventura County Credit Union, is a part owner. When you join, you get a say on how things are run; specifically, you get to vote for the members of the credit union's board of directors.
• Second, instead of up profits to enrich stockholders, we pump them back into our everyday operations. That money is used to keep deposit interest rates higher, loan rates lower, and fees fair and reasonable.
• Third, we believe in raising the financial IQ of our members so they can make good decisions about money. Toward that end, we offer free credit and debt counseling, a wide range of financial education workshops, and programs that turn kids into lifelong savers.
• Finally, we believe in investing in our communities. Not only do we offer services and accounts that support local businesses, but we donate thousands of dollars and countless hours of volunteer time to local nonprofits and other worthy causes.

So is there really much difference between a credit union and bank? We would say the answer is an emphatic "yes."