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The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
This is a partial 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]
New York state-chartered credit unions are also regulated by the National Credit Union Administration, which also insures credit union share accounts up to certain limits. Foreign banks (branches, agencies and representative offices) A New York branch is an office of a foreign bank that is licensed by the Superintendent to conduct a banking ...
As of March 2020, the largest American credit union was Navy Federal Credit Union, serving U.S. Department of Defense employees, contractors, and families of servicepeople, with over $125 billion in assets and over 9.1 million members. [5] Total credit union assets in the U.S. reached $1 trillion as of March 2012. [6]
By 1990, they had almost 5,000 members and deposits totaling over $12 million. Part of this community initiative was to start the "Socially Responsible Investment Club," which itself was a credit union for young people. It assisted in starting other credit unions as well, offered seminars on personal finance, low income housing and ...