answersLogoWhite

0

Credit union dividends are similar to interest payments from a bank. When you deposit money in a credit union, you become a member and part owner. The credit union uses your deposits to make loans and investments. The profits earned from these activities are then shared with members in the form of dividends, which are a portion of the credit union's earnings. The more money you have deposited in the credit union, the more dividends you may receive.

User Avatar

AnswerBot

5mo ago

What else can I help you with?

Continue Learning about Finance

You have two auto loans with a credit union and wanted to discharge one through bankruptcy and reaffirm on the other but the credit union says no Is this possible?

I work at a credit union, and there is no reason you cannot re-affirm that 2nd loan, I would tell you to contact, the borad in writing and explain your reasons to file and why only on one.


What is the Missoula Federal Credit Union?

The Missoula Federal Credit Union is a federal credit union where one could get personal, business, resource and security accounts. Missoula Federal Credit Union serves those that live or work in Lake Missoula and Ravalli counties.


Who can join a community credit union?

Many people can join a local community credit union, but only if they have the right qualifications. They must live in the same town or work at a qualified place of employment.


If your credit score is 520 and you have no credit card debt can you get a first time home owner loan?

It may be possible: become a member of a competitve credit union. Shop for a credit union that offers loan rates based on credit rating. The advantage of taking care of your credit will become instantly clear: the better your credit score, the lower your loan rate. Credit unions work for their members and will also counsel you on how to improve your credit.


What credit cards offer credit to people with bad credit?

Credit card companies that will issue a credit card to people with bad credit who are able to dedicate a lump sum as surety for purchase made on the card, or people who are willing to pay exorbitant interest rates. I would think a good way to reestablish your credit is to join a small Credit Union that will establish a personal relationship with you, and then work with you to restore your credit. The difference between a bank and a Credit Union is this. A bank is a money making business dedicated to making money for it's owners. A Credit Union is a financial institution owned by the members. It is designed to serve the members, not make money for a stockholder. Most large banks can't be bothered to help poor soul here and there. If you do go this route don't screw up. With the tight credit now days you won't be allowed too many mistakes. My credit Union isn't all that big. They give me a decent interest rate on my credit card. I thought they were acting as a middle man between members and a huge financial institution somewhere out there that could make arbitrary changes in conditions and rates. I asked about those type of things and I was told that the Credit Union does it all themselves and they wouldn't do these radical things you hear about. And, they are easier to work with.

Related Questions

Does frank billy work for standard credit union bank?

Frank Billy work for Standard credit credit union bank?


How many people work for the Franklin Mint Federal Credit Union?

There are many people that work for the Franklin Mint Federal Credit Union. There are about five hundred people that work for the Franklin Mint Federal Credit Union.


You have two auto loans with a credit union and wanted to discharge one through bankruptcy and reaffirm on the other but the credit union says no Is this possible?

I work at a credit union, and there is no reason you cannot re-affirm that 2nd loan, I would tell you to contact, the borad in writing and explain your reasons to file and why only on one.


If you work in Montgomery County MD which credit unions are you eligible to join?

In Montgomery County, there are the following credit unions available: * Montgomery County Credit Union, Inc. * MCT Federal Credit Union * Employees Federal Credit Union * Mid-Atlantic Federal Credit Union


What is the Missoula Federal Credit Union?

The Missoula Federal Credit Union is a federal credit union where one could get personal, business, resource and security accounts. Missoula Federal Credit Union serves those that live or work in Lake Missoula and Ravalli counties.


Are credit unions best for private loans?

Credit unions tend to work on a more personal level with customers. You can probably get similar rates at either a bank or credit union but the experience will likely be better at your credit union.


Who can join a community credit union?

Many people can join a local community credit union, but only if they have the right qualifications. They must live in the same town or work at a qualified place of employment.


Who founded the Credit union of Ireland?

The credit union movement in Ireland was founded in the 1960s by a school teacher Nora Herlighy. Working with her was John Hume who later went on to win the Nobel Peace Prize for his work in the Irish Peace Prize. Herlighy travelled to the US and observed what the National Credit Union Administration did. There are several Irish credit union trade associations but the most prominent are the Irish League of Credit Union and the Credit Union Development Association. There are over 400 credit unions in Ireland today.


If your credit score is 520 and you have no credit card debt can you get a first time home owner loan?

It may be possible: become a member of a competitve credit union. Shop for a credit union that offers loan rates based on credit rating. The advantage of taking care of your credit will become instantly clear: the better your credit score, the lower your loan rate. Credit unions work for their members and will also counsel you on how to improve your credit.


How is dividing 4 and 5 digit dividends the same as dividing smaller dividends?

question is 57 divide 2,280 show work


Can you explain bad credit loans to me?

I think they do work with high interest rates. They will give you the money you need but with higher interest than someone with good credit would have. But it can also help you if you can afford it.


What credit cards offer credit to people with bad credit?

Credit card companies that will issue a credit card to people with bad credit who are able to dedicate a lump sum as surety for purchase made on the card, or people who are willing to pay exorbitant interest rates. I would think a good way to reestablish your credit is to join a small Credit Union that will establish a personal relationship with you, and then work with you to restore your credit. The difference between a bank and a Credit Union is this. A bank is a money making business dedicated to making money for it's owners. A Credit Union is a financial institution owned by the members. It is designed to serve the members, not make money for a stockholder. Most large banks can't be bothered to help poor soul here and there. If you do go this route don't screw up. With the tight credit now days you won't be allowed too many mistakes. My credit Union isn't all that big. They give me a decent interest rate on my credit card. I thought they were acting as a middle man between members and a huge financial institution somewhere out there that could make arbitrary changes in conditions and rates. I asked about those type of things and I was told that the Credit Union does it all themselves and they wouldn't do these radical things you hear about. And, they are easier to work with.