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FYI: The Difference Between.... |
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Credit Unions |
Banks |
- Are not-for-profit democratically controlled cooperatives
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- Generate profit for stockholders
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- Can serve only those in their field of membership
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- Can serve the general public
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- Governed by volunteer board of directors elected by members
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- Governed by paid directors elected by stockholders
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- Return any profits to all members in the form of dividends
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- Returns profits to stockholders
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- Accounts insured up to $100,000 by the National Credit Union Administration
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- Accounts insured up to $100,000 by the FDIC
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