What is a credit union and are all credit unions associated with one another?
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Credit unions are like retail banks that are owned by their customers rather than being public companies with shareholders or privately owned company. Because they’re owned/managed by their customers, they tend to offer better rates (lower loan interest, higher savings account interest), more customer-friendly service, etc. because they’re not trying to maximize profits for an owner.
Because they are smaller/local, there are ways they associate to have access to platforms big banks can offer.
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