Index of All Articles in the Credit Union Category


Defined Tag: Credit Union

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What is a Credit Union?

Many people do not understand what the difference is between a credit union and a bank. A bank is a financial institution that has been chartered by its state of operation, or the federal government. During its regular business hours, it does most of the following activities; it receives money and allows withdrawals of the money in a person’s bank account.

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 It pays interest, makes loans, issues cashier’s checks, issues drafts and collects the same. The other is a cooperative, which conducts itself similarly but is owned and operated by those who are members in the intuition. It is run by and for those members.

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