What is a Credit Union?

You’ve probably heard of banks, but you might not be as familiar with credit unions. They are financial institutions too, but are not-for-profit organizations owned by all of its members versus for profit organizations owned by a handful or small group of individuals.

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3 Responses to What is a Credit Union?

  1. normal guy September 18, 2016 at 8:09 am #

    Credit unions are way more better than banks. Educate more, help you step by step to build your credit and your savings. If you had a shares saving account you are one of the owners of that credit union and you can decide and vote in the annual meetings. Better services.
    Excellent topic Tom. Saving is for the wise.

  2. geovannie September 20, 2016 at 10:16 am #

    Perfecto topic; excellent Tom, thanks for educate and motivate people about savings, and I am a member of two cooperatives. My experience, they operates for the people, you’re a member you can be part of decisions, and have so many programs to build your credit and your savings.
    Tom thanks. Excellent radio show five stars class.

  3. Scott September 30, 2016 at 5:32 pm #

    Excellent topic, dad. I joined my local credit union and doubled my interest rate paid on CD and money market funds compared to what banks are paying. Plus, if I ever decide to buy a car, the auto loans are way lower at 1.49% with the credit union compared to 4% that banks charge. They even offer special buyer programs and many useful free services at the credit union in San Diego that are not offered at banks.

    Scott

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