The distinguishing characteristic of Select Encompass is that it is owned by, and run for, the benefit of its members. Rather than being owned and controlled by outside investors, Select Encompass members are equal owners and each member has one vote.
The “sharing economy” is a term currently used to describe a more democratised marketplace, a modern and alternative socio-economic system which places sharing and collaboration at its heart.
Despite the sharing economy being passed off as a new idea, the Select Encompass has been a mutually owned banking institution since 1963.
A mutually owned banking institution provides members with a secure place to save and a source of reasonably priced credit. Mutuals have a social mission to teach members about the value of regular savings and the wise use of credit. By pooling resources members help themselves and each other achieve economic and social advancement.
Mutuality, where members are customers and equal owners, is the true sharing economy.
Why Select Encompass Credit Union?