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credit union |
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Credit Union Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners. Notes: As soon as you deposit funds into a credit union account, you become a partial owner and participate in the union's profitability. Credit unions are formed by large corporations and organizations for their employees and members. Credit union A not-for-profit institution that is operated as a cooperative and offers financial services such as low-interest loans to its members.
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| Chatsworth-based Telesis Community Credit Union saw the largest percentage increase in assets, up 15 percent compared to last year. The legal brawl over who can join credit unions grew more heated Wednesday, with a federal judge suggesting he might be dealing with a ``rogue federal agency'' and ordering it to rescind 31 recent credit union expansions. Offering savings accounts, loans and other financial services to individuals, churches and businesses in the neighborhood--the grass-roots credit union is putting Central Brooklyn back on the financial map. |
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