The "Act" requires a credit union to specify the bond of association which must exist among Members.  Typically, such bonds of association may be community based, employer based or otherwise based on a group of members with a form of common association.  The Croatian Credit Union’s bond of association is based on an ethnic group, as fully described in paragraph 2.1 of its by-laws which specifies that members must be of Croatian origin residing in the City of Toronto or the Regional Municipalities of Halton, Hamilton-Wentworth, Niagara, Peel or York.

The by-laws also provide for the admission to membership of related persons or entities of Persons who qualifying Members, employees of the credit union, a Person who qualified for and became a member of the credit union in the past but no longer qualifies for membership and all other Persons (as long as the aggregate number of such Members does not exceed 3% of the total Members at that time), and any entity legally eligible for membership.

Membership on the Croatian Credit Union is granted to applicants who are within the bond of association by enabling them to purchase and hold the required number of Member Shares as specified in paragraph 2.3 of the by-laws of the Corporation.  Currently, each Member is required to acquire and maintain at a minimum, fifty (50) five dollar ($5.00) Member Shares.

The Credit Union holds deposits from its members in various forms including both demand and term deposits. 

The Credit Union also provides loans to its members that may take the form of personal loans, personal and commercial mortgages and loans to unincorporated associations.