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This is a list of credit unions in the United States. 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 ]
Federal credit unions may also be members of the National Association of Federal Credit Unions (NAFCU). [44] Credit unions can also participate in a credit union service organization (CUSO) that provides shared resources to member credit unions such as call centers, lending teams, and data centers. Participating in a CUSO allows credit unions ...
For example, the Indiana Credit Union League sponsors an initiative called "Ignite", which is used to encourage innovation in the credit union industry, with the Filene Research Institute. [ 38 ] The Credit Union National Association (CUNA) is a national trade association for both state- and federally chartered credit unions located in the ...
Credit unions are co-operative financial institutions that are owned and controlled by their members. Their services are similar to but operating models distinguish them from banks , savings and loan associations and related financial services companies.
It is somewhat comparable to a bank or credit union (especially the latter) but has a different overarching goal and structure. Also known as savings banks, thrift institutions or just thrifts, S ...
Credit unions have the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members. [2] Its members are usually required to share a common bond , such as locality, employer, religion or profession, and credit unions are usually funded entirely by member deposits, and avoid outside ...
Some credit unions insured by the NCUA also carry private insurance to provide customers with higher coverage limits than the standard $250,000, which can benefit those who’d like to keep more ...
For example, not all credit unions have the capital to gain the expertise to originate business and commercial real estate loans. But, if several credit unions pool their resources they can afford to hire the right individuals and in turn provide a valuable service to their members.