What is a Credit Union?
A credit union is a member-owned, not-for-profit cooperative financial institution, which is owned and operated by its members. These members – who are united by a common bond of employment, association or community – democratically operate the credit union under state and federal regulation for the purpose of encouraging savings by offering a fair return. The combined investments are used to make loans at competitively low interest rates and to provide a variety of other financial services to members.
Today, more than 9,000 member-owned, cooperative credit unions serve 70 million+ people in the United States and are consistently rated higher in customer satisfaction than any other type of financial institution.
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