Is a Credit Union like a Bank?
Hmmmm, yes and no. Does that make it any clearer?

Yes, Credit Unions do offer the same financial products and services as a bank. Credit Unions are very proud to offer exceptional personalized services and competitive financial products including a wide range of savings and chequing accounts designed to complement a variety of member needs, ATM cards, personal and commercial loans, lines of credit, mortgages, RRSP's, RESP's, on-line banking services, insurance products and wealth management services.

No, Credit Unions are community specific financial co-operatives owned and operated by their members, unlike a bank that is owned by a few privileged stockholders who make all the decisions for an institution and its customers.

A key principle in the operation of a community credit union is that each member, regardless of the amount of money they have in their accounts, is entitled to the same vote in electing individuals to represent them as Directors on the credit unions Board of Directors. This co-operative principle ensures that credit unions remain accountable to their members.

Want more info on credit unions, go here:

Nelson & District Credit Union - www.nelsoncu.com
Savings & Credit Unions of BC - www.i-switch.com
Credit Union Central of Canada - www.cucentral.ca

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