A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. Credit unions differ from banks and other financial institutions in that the members who have accounts in the credit union are the owners of the credit union. Credit unions are not-for-profit organizations as they operate to serve their members rather than maximize profits. The members elect their board of directors in a democratic one-person-one-vote system regardless of the amount of money invested in the credit union. Generally, membership is restricted to to a group of people who live within a specific geographic area or work for a common employer.
Mountain River Credit Union currently serves all who live or work in Chaffee, Alamosa, Lake, Rio Grande, or Western Fremont County.