During the summer, fans operate in a counter-clockwise direction, as a person standing on the floor and looking up at the fan sees it. This creates an air flow which increases evaporation on the skin, creating an effect similar to that of a wind chill. This makes the air in the home feel cooler and more comfortable.
In the winter, fans have a different purpose. If you reverse the flow, generally done by flipping a small, black switch on the body of the fan above the blades, you create a funnel of air moving up. This creates a downdraft along the walls, pushing the warm air that stagnates at the ceiling down to the living areas.
In the winter, keep fans on a low speed. If you turn them on high, you create an uncomfortable, cool draft. If the fan is on low, it circulates air gently without a draft.