Our Mission
CENT is a member owned, non-profit financial institution providing personalized, competitive services that promote the economic well-being of our present and future members.

Our History
CENT is the product of a merger in September 1994 between the Blue Bunny Employees Credit Union (chartered in 1966) and the NIPCO Credit Union (organized September 5, 1960). On July 1, 2004 the credit union made a significant change by becoming a community credit union. Now, residents and those working in Plymouth County and surrounding counties (Woodbury, Cherokee, O'Brien, Sioux, and Union counties) are eligible for membership. We currently have a staff of 10 and a membership of over 4,000. CENT is continually upgrading software and adding new services and products to ensure the growth of the credit union.

Who Can Join
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership" The field of membership may include where members live, work, or involvement in a social or economic group.

Eligibility requirements:

How to Join
You may join the credit union simply by opening and maintaining a $25 share account. Once you become a member of CENT, you may always be a member regardless of where you live or work. All members of the credit union are entitled to be involved with the management of the credit union by virtue of electing the Board of Directors and Supervisory Committee. As a member of your credit union, you are eligible for all CENT products and services.

Board of Directors
The Board of Directors are members who volunteer their time and service, are responsible for the decision making on the direction of the credit union. They determine our available products and services and govern our operations.

The Board of Directors is a completely voluntary group, elected by their fellow credit union members at the annual meeting. The Supervisory Committee and the Credit Committee are also elected to serve and provide important support to the credit union staff and the Board of Directors.

The Supervisory Committee oversees the credit union operations by providing an annual audit of the business operations. The Credit Committee provides support in decision making on loan applications.

If you are interested in finding out more about volunteer opportunities with your credit union, please contact CENT CEO, Matthew R. Chizek at 712-546-7676.

Concerns you have about credit union operations may be addressed to: Supervisory Committee
CENT Credit Union
PO Box 1030
Le Mars, IA 51031

Deposit Insurance
The National Credit Union Administration (NCUA) is an independent agency of the United States Government. NCUA regulates, charters, and insures the nations credit union. The shares in your credit union are insured by the National Credit Union Share Insurance Fund (NCUSIF) or the Fund, an arm of NCUA. Established by Congress in 1970 to insure member share accounts at insured credit unions, the Fund is managed by NCUA under the direction of a three-person NCUA board. Your share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC).

Not one penny of insured savings has ever been lost by a member of a federally insured credit union. Insured credit unions are required to deposit and maintain one percent of their insured shares and deposits in the NCUSIF. The fund is currently at the strongest and best-reserved level in its history. As a member of an insured credit union, you do not pay directly for your share insurance protection. All types of member share accounts and deposits received by the credit union in its usual course of business, including regular shares, share certificates, and share draft (checking) accounts are insured. The basic insured amount for a credit union member under current law is $250,000. Share accounts maintained in different rights or capacities, or forms of ownership, may each be separately insured up to $250,000. Thus, a member may hold or have an interest in more than one separately insured share account in the same insured credit union.

For more information on share insurance visit the NCUA website.


What’s a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.

Who owns a credit union?
Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn't operate in that manner. Rather, each credit union member owns one "share" of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

How did credit unions start?
The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary's Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.

What is the purpose of a credit union?
The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.

Are savings deposits insured?
Yes. All savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government.

Who can join a credit union?
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a "field of membership." The field of membership may include where they live, where they work, or their membership in a social or economic group.


What's New

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