School District 40 Employees CU is a not-for-profit financial cooperative owned by its members. Credit Unions were founded on the idea that through a cooperative financial effort, individuals sharing common bonds could benefit. Credit Unions promote thrift, and income is passed along to its members in the form of higher dividends on savings accounts, lower interest on loans, or new and improved services. School District 40 Employees CU was established in 1965. Our credit union is chartered by the State of Illinois, and is federally insured to $250, 000.00 by the NCUA. Our staff implements policies set by the board and exist to serve all members equally, and by providing excellent member service. These are people you should know.