who owns a credit union explain credit unions are, Financial Management

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who owns a credit union explain credit unions are

Who owns a credit union? Explain.

Credit unions are owned by their members. When credit union members place money in their credit union, they aren't technically "depositing" the money. In its place, they are purchasing shares of the credit union. Generally, credit unions subsist to pay interest on shares bought by and collect interest on loans made to the members.

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