noun a type of financial institution that offers similar services to a bank, but is owned by its members rather than by shareholders
Credit unions are financial institutions that provide similar services to banks, such as savings accounts, loans, and mortgages.
Credit unions operate similarly to banks but are member-owned cooperatives, often offering better interest rates and lower fees.
Credit unions offer a range of financial services, including checking accounts, credit cards, and investment options.
Many individuals choose credit unions for their personal banking needs due to the member-focused approach and community involvement.
Credit unions are often seen as community-focused institutions that prioritize the needs of their members over profits.
A writer may mention credit unions in articles or blog posts discussing personal finance or banking options.
A financial analyst may study the financial performance of credit unions as part of their research and analysis.
An accountant may work with credit unions to manage their financial records and ensure compliance with regulations.
A banker may compete with credit unions for customers or collaborate with them on certain financial products or services.
An economist may analyze the role of credit unions in the overall economy and their impact on consumer financial behavior.