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A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. [1] Credit unions in the United States may either be chartered by the federal government [2] or a state government. [3] The National Credit Union ...
Credit unions in the United States served 100 million members, comprising 43.7% of the economically active population, in 2014. [1] [2] U.S. credit unions are not-for-profit, cooperative, tax-exempt organizations. [3] The clients of the credit unions become partners of the financial institution and their presence focuses in certain ...
Municipal Credit Union was founded in 1916 for municipal workers in New York City. John Purroy Mitchel, New York City's Mayor at the time, wanted city employees to have alternatives to loan sharks and encouraged the chartering of the organization.
Leeds City Credit Union Limited is a not-for-profit member-owned financial co-operative, trading as Leeds Credit Union, formed in 1987 and based in the West Yorkshire city of Leeds.
Navy Federal Credit Union (or Navy Federal) is an American global credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). Navy Federal is the largest natural member (or retail) credit union in the United States, both in asset size and in membership.
Arizona Financial was established in 1936 as the Phoenix City Employees Federal Credit Union. [2] This union merged with similar credit unions for city employees of Mesa (and Chandler ), Scottsdale, and Tempe in 1981 to form Arizona Federal Credit Union, with 28,000 members and $48 million in assets. [3] Arizona Federal would grow significantly through the years as a result of merging with ...
Banking. A credit union is a member-owned nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts ( savings accounts ), share draft accounts ( cheque accounts ), credit cards, credit, share term certificates ( certificates of deposit ), and online banking.
VyStar Credit Union is a member-owned financial cooperative that is headquartered in Jacksonville, Florida. It offers a comprehensive selection of products, including deposit and loan services for consumers and businesses, as well as investments, insurance, retirement planning and financial counseling.