Have you been introduced to a credit union? Sure, you’ve probably heard of them. You may have a friend or relative that is a credit union member. Perhaps you are.
But do you really know your credit union? Do you know what it is that makes credit unions different from banks? You’ll be surprised to know that there are also a number of similarities.
Credit unions are nonprofit, cooperative financial institutions that are owned by the members, exist for the members and consist of an elected volunteer board of directors. Consumers often believe credit unions are small institutions with limited product lineups and strict membership requirements. This stands in contrast to large banks, known for convenient branch and ATM networks, diverse product lineups and ever-expanding customer counts. But these perceived differences are not completely accurate.
For this complete story, please visit Credit Unions Getting Bigger.
