Describe who owns a credit union

Describe who owns a credit union?
Credit unions are owned through their members. While credit union members put money in their credit union, they are not "depositing" the money technically.  In spite of, they are purchasing shares of the credit union. Generally, credit unions exist to pay interest on shares bought by, and gather interest on loans made to, the members.

   Related Questions in Finance Basics

©TutorsGlobe All rights reserved 2022-2023.