Credit Union
Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners. Investopedia Says:
As soon as you deposit funds into a credit union account, you become a partial owner and participate in the union's profitability. Credit unions are formed by large corporations and organizations for their employees and members. Related Terms:
Bank
Demutualization
Financial Cooperative
Merchant Bank
Mutualization
National Credit Union Administration - NCUA
Private Banking
Retail Bank
Retail Lender
Thrift Bank |