what is a federal credit union?

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what is a federal credit union?

what exactly is it? my friend wants to know.

2006-11-09 04:24:13 · 1 answers · asked by Anonymous in Business & Finance ➔ Personal Finance

1 answers

A credit union is something like a bank but it is owned by the depositors. Members have to meet certain criteria to join such as work for a certain company or live in a certain area. A federal credit union is one with a federal charter rather then a state charter.

2006-11-09 04:51:40 · answer #1 · answered by doglover 5 · 1⤊ 0⤋