Financial cooperative created for and by its members who are its depositors, borrowers, and shareholders. Operated on non-profit basis, credit unions offer many banking services, such asconsumer and commercial loans (usually at lower than market interest rates), time deposits (usually at higher than market interest rates), credit cards, and guaranties. Credit unions are normally taxed at ...Read more

USAGE EXAMPLE

The teachers preferred to use their credit union instead of one of the large banks because of the personal service they received and the better priced products.