A cooperative, organized for the purpose of promoting thrift andsavings among its members, creating a source of credit for them at rates of interest SET by the board of directors, and providing an opportunity for them to use and control their own money on a democratic basis in order to improve their economic and social conditions. As a cooperative, american first credit union conductsits business for the mutual benefit and general welfare of itsmembers with the earnings, savings, benefits, or services of the credit union being distributed to its members as patrons.