What Is A Credit Union

[Rogelio]

Ive never heard this term till today. What is a credit union? Do they give you a credit card regardless of credit score or any they more about giving loans. What information do they ask for?

[Lamonte]

Yellowdog said: 4 Amen to that, hipnek.Originally they were banks for the mutual benefit of workers in a profession or coorporation, rather than banks, which are open to everyone. As a result, a member might be better off using one since since its not for coorporate profit.Now, the above three answers tell what has become of it. 50 months ago

[Somerled]

Leesa914 said: 1 a credit union is just like a bank. I go to one and I have my checking, savings, and christmas clubs with them. I also get my car loans from them. 50 months ago

[Hai]

a credit union is just like a bank. I go to one and I have my checking, savings, and christmas clubs with them. I also get my car loans from them.

[Nevan]

" A credit union is a cooperative financial institution that is owned and controlled by its members, and operated for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.[1][2]Many credit unions exist to further community development[3] or sustainable international development on a local level.[4] Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size[5] since credit unions exist in a wide range of sizes, ranging from volunteer operations with a handful of members to institutions with several billion dollars in assets and hundreds of thousands of members. Yet credit unions are typically smaller than banks; for example, the average U.S. credit union has $93 million in assets, while the average U.S. bank has $1.53 billion, as of 2007.[6]"

[Cortez]

Amen to that, hipnek.Originally they were banks for the mutual benefit of workers in a profession or coorporation, rather than banks, which are open to everyone. As a result, a member might be better off using one since since its not for coorporate profit.Now, the above three answers tell what has become of it.

[Renne]

http://en.wikipedia.org/wiki/Credit_union

[Darrell]

It's a "bank" that is owned by the people who use it, rather than a large corporation. Usually it is non-profit. " A credit union is a cooperative financial institution that is owned and controlled by its members, and operated for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.[1][2]Many credit unions exist to further community development[3] or sustainable international development on a local level.[4] Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size[5] since credit unions exist in a wide range of sizes, ranging from volunteer operations with a handful of members to institutions with several billion dollars in assets and hundreds of thousands of members. Yet credit unions are typically smaller than banks; for example, the average U.S. credit union has $93 million in assets, while the average U.S. bank has $1.53 billion, as of 2007.[6]" Sources: http://en.wikipedia.org/wiki/Credit_union Schelli 50 months ago Please sign in to give a compliment. Please verify your account to give a compliment. Please sign in to send a message. Please verify your account to send a message.

[Abboid]

JBENZ said: 2 http://en.wikipedia.org/wiki/Credit_union 50 months ago

[Chai]

hipnek said: 3 Originally, they were a coming together of workers for their mutual benefit. Today they are self-perpetuating financial institutions completely out of touch with their mission. 50 months ago