Credit Unions

Credit unions are non-profit financial institutions. To use a credit union, you must be a member. All members have something in common. It could the city where they live or their occupation. However, much of the time it is a geographical location.

This type of institution is owned by the members and governed by the board of directors.

The earnings that a credit union makes are paid to its members in dividends. Credit unions also focus on consumer deposit and loan services.

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