Credit Union


DEFINITION of 'Credit Union'

Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners.

BREAKING DOWN 'Credit Union'

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.

  1. Federal Credit Union - FCU

    A credit union chartered and supervised by the National Credit ...
  2. National Credit Union Administration ...

    An agency of the United States federal government that was created ...
  3. Private Banking

    Personalized financial and banking services that are traditionally ...
  4. Demutualization

    When a mutual company owned by its users/members converts into ...
  5. Mutualization

    The process of changing a firm's business structure so the owners ...
  6. Retail Banking

    Typical mass-market banking in which individual customers use ...
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  1. What is the difference between a state and a federally chartered credit union?

    The world of credit unions is divided into two categories: state chartered and federally chartered. Though they share many ... Read Full Answer >>
  2. How does a bank determine what my discretionary income is when making a loan decision?

    Discretionary income is the money left over from your gross income each month after taking out taxes and paying for necessities. ... Read Full Answer >>
  3. What net interest margin is typical for a bank?

    In the United States, the average net interest margin for banks was 3.03% in the first quarter of 2015. However, this was ... Read Full Answer >>
  4. What are the main benchmarks that track the banking sector?

    The appropriate benchmarks for tracking banking sector performance depend on the type of banking. For instance, commercial-only ... Read Full Answer >>
  5. What are the major categories of financial institutions and what are their primary ...

    In today's financial services marketplace, a financial institution exists to provide a wide variety of deposit, lending and ... Read Full Answer >>
  6. How can I tell if a security is considered investment grade?

    It is possible to tell if a security is considered to be investment grade by looking at that security's ratings with either ... Read Full Answer >>

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