Co-operative Principles
The credit union difference.
Westoba is a co-operative financial institution. That means we’re owned by our members and guided by an elected Board of Directors who represent the interests of our members, not corporate shareholders.
At heart of the credit union difference is a set of International Co-operative Principles that guide our actions.
| Co-operative Principle | What This Means to You |
|---|---|
| Voluntary & open membership | Membership is open to everyone. Our members are a vital part of our community, and our services are available to you, and everyone you know, without discrimination. |
| Democratic member control | One member, one vote. Members help set the direction of Westoba by voting on important issues at our annual general meeting and voting or running for our Board of Directors. |
| Member economic participation | When we profit, so do you. Westoba gives back by sharing profits with our members and the communities we serve. |
| Autonomy & independence | Credit unions are subject to strict regulation. How we achieve those standards and meet members’ needs is decided right here at home by our Board and management. |
| Education, training & information | We provide information and education that helps members meet their financial goals, and allows elected leaders and staff to contribute to our development and operations. |
| Co-operation among co-operatives | Co-operatives, including Westoba, help build strong and independent communities. We work closely with other co-operatives and co-operative organizations to strengthen your community. |
| Concern for community | We provide information and education that helps members meet their financial goals, and allows elected leaders and staff to contribute to our development and operations. |