CREDIT UNION (CU)
CU provides various financial services to its members. CU
only works for the member’s profit. CU is a member owned financial service
which helps their members in saving their money. CU also provides a service to
support community development. CU offers many services as other banks or
financial institutions but CU is different from other financial institutions
for many reasons.
Various Aspects of CREDIT UNION (CU)
Not-For-Profit status
Not-For-Profit status in CU describes
that CU is not for profit service. It means CU provides affordable financial
services to its members and various communities. Any savings of CU members or
any earning of money by credit union is returned in the form of low rates loan.
It does not means that CU is taking any type of donation, fund from members; CU
is a service in which how members keeps savings.
Member-Owned-Financial-Service
CU has various members and every member is owner of credit union because
all members become owners by opening their saving accounts in credit union.
Credit union helps members to save their earnings in a community. Also, in a
community, one member’s savings helps other members in a role of CU survive.
Credit-Union-Service-Social-Purpose
The main purpose of credit union is to help people and not to
make any type of profit. All types of members in CU are important. The main target
of CU is to help members without any fees.
Full-Insured-Money
Credit union is a best and ideally suited choice in financial matters. Credit union
commits your money at a safer place.
Corporate Credit Union
Generally, credit union provides
services only to a single consumer or community but corporate credit unions are
different from other credit unions. It is also known as central credit union.
Corporate credit union provides services to other credit unions for the support
and delivery of product. Corporate credit union is the largest credit union in all
the credit unions. Corporate credit unions hold other credit unions.
Photo Credit: ofertadempleo.es
Photo Credit: ofertadempleo.es
No comments:
Post a Comment