What are Credit Unions?
Credit unions are financial institutions formed by an organized group of people with a common bond. Members of credit unions pool their assets to provide loans and other financial services to each other.
Credit Unions differ from other banks in many ways:
Other Financial Institutions
|Not-for-profit cooperatives||For profit financial corporations|
|Owned by Members||Owned by outside stockholders|
|Operated by mostly volunteer boards||Controlled by paid boards|