Credit Union

It looks like a bank; it smells like a bank; but it is NOT a bank. A credit union is owned by its members. It’s basically the mom-and-pop version of the national banks. Instead of trusting your money to a huge national bank, you’re pooling your money with your neighbors. You don’t get all of the same bells and whistles as with a national bank, but you might get better interest rates and loans: after all, the lenders at these community banks know where you’re coming from (literally) and are therefore more willing to help you out.

« Back to Glossary Index
2017-12-12T20:01:35+00:00

Leave A Comment