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Credit union

A non-profit Financial institution that is owned and operated entirely by ITS members. Credit unions provide financial services for their members, including savings and lending. Large organizations and companies may organize Credit unions for their members and employees, respectively. To join a Credit union, a person must ordinarily belong to a participating organization, such as a college alumni association or labor union. When a person deposits Money in a Credit union, he/she becomes a member of the union because the deposit is considered partial ownership in the Credit union.

Related Terms: 14 Credit union, CLU, Credit, Financial institution, FIN, Heir, Inc., ITS, Long, Lend, Leg, Money, Own, Profit
Other Related Pages: Category: Banking Starting With: C
Semi Related Terms: 649 CLICK HERE TO VIEW
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