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credit union
A non-profit financial institution that is owned and operated entirely by its members. Creditunions provide financial services for their members, including savings and lending. Largeorganizations and companies may organize credit unions for their members and employees, respectively. To join a credit union, a person must ordinarily belong to a participatingorganization, such as a college alumni association or labor union. When a person depositsmoney in a credit union, he/she becomes a member of the union because the deposit is considered partial ownership in the credit union.
credit union
A non-profit financial institution that is owned and operated entirely by its members. Creditunions provide financial services for their members, including savings and lending. Largeorganizations and companies may organize credit unions for their members and employees, respectively. To join a credit union, a person must ordinarily belong to a participatingorganization, such as a college alumni association or labor union. When a person depositsmoney in a credit union, he/she becomes a member of the union because the deposit is considered partial ownership in the credit union.
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