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Credit unions are similar to banks, except for the fact that they only loan money to its members. So, a random person cannot just walk in off the street and ask for one, they would have to go to a bank.

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12y ago

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What types of unions are there?

There are four different types of credit unions. They are global credit unions, national credit unions, local credit unions, and employee credit unions.


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Well, honey, there are federal credit unions, state-chartered credit unions, corporate credit unions, and good ol' community credit unions. Each one has its own quirks and perks, so you just gotta pick the one that suits your fancy. Just remember, they all pretty much do the same thing - help you save and borrow money.


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A general rule is: If the APR is higher than 30%, stay away. Credit Unions are a good option. Federal credit unions are prohibited from charging interest rates higher than 18%.


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There were 7,094 credit unions in the US as of 12/31/11.


When was Bureau of Federal Credit Unions created?

Bureau of Federal Credit Unions was created in 1934.


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There are credit unions all over the United States. This site will give you a lot of information about credit unions and their locations. http://www.creditunion.coop/


Can credit unions facilitate wire transfers?

Yes, credit unions can facilitate wire transfers for their members.


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There are different credit unions in every state. Personal recommendations from friends and colleague are a good place to start. Compare offers from each union. You can look for review online or use a credit union locator like this one here: http://www.creditunionsonline.com/


Do credit unions accept certificates of deposits?

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What financial institution sometimes call their checking accounts share draft accounts?

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