About Credit Unions

Unique among financial institutions, credit unions offer a variety of benefits to their members/consumers as an alternative to for-profit banks. Some credit unions are very small organizations, serving a single company or church, while others may have hundreds of millions in assets and serve multiple membership groups or an entire community. No matter how big or small, credit unions have things in common that differentiate them from banks and other financial institutions.


Credit Unions are Not-For-Profit

Credit Unions exist to benefit their members, not outside shareholders. They generally offer better rates and lower fees than most banks.

Credit Unions are Owned by their Members, Not Stockholders

Each person who deposits money in a credit union becomes a member of the credit union because their deposit is considered a share of the ownership. Credit Unions are run by a volunteer board of directors elected by and from the membership.

Federal Credit Unions are Insured by the National Credit Union Share Insurance Fund (NCUSIF)

The NCUSIF is managed by the National Credit Union Administration (NCUA), an agency of the federal government. Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the U.S. Government. Not one penny of insured savings has ever been lost by a member of a federally insured credit union.

Even Though We are Different from Banks, We do Have Similarities

  • We also offer the following products:
  • Mobile Banking with Mobile Deposit
  • Online Banking
  • First and Second Mortgages
  • Vehicle Loans
  • Free Visa® Debit Cards
  • Low Rate Visa® Classic and Rewards Credit Cards
  • Your deposits are insured up to $250,000 by the NCUA (per individual depositor)

Become a Member

It’s easy to become a member of APL Federal Credit Union and to start taking advantage of the benefits of membership. If you who live, work, regularly conduct business in or attend school in Howard County, Maryland, you can become a member. Immediate family members of current credit union members are also eligible for membership - even if they do not live or work in Howard County.

You can use our easy Online Membership Application, or stop by member services at any of our locations to join in person.

Membership Application


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