How do credit unions work?

Answer Credit unions provide an alternative to other banking and lending institutions. According to the Credit Union National Association, there are more than 8,000 credit unions in the United States.Sign... Read More »

Top Q&A For: How do credit unions work

What Is the Difference Between Regular Credit Unions & Federally Backed Credit Unions?

Credit unions are chartered by either state governments or the federal government. When people refer to a "regular" credit union, it is generally a state-chartered institution and does not have the... Read More »

Importance of Credit Unions?

"Not for credit, not for charity, but for service" is a credit union motto. Owned by its members, a credit union provides a form of saving and borrowing money similar to traditional financial insti... Read More »

How to Compare Credit Unions?

Credit unions are community-based banking institutions. Banks are often owned by larger corporations, seek increasing profits and charge higher fees. Credit unions, though, are non-profit instituti... Read More »

Are credit unions safe?

On One Hand: Just as SafeCredit unions are as safe as any bank, according to Gerri Willis, host of CNN's "Your Bottom Line." Like bank accounts, credit union accounts are federally insured, only by... Read More »