credit union
Member-owned bank
A credit union is a nonprofit financial cooperative owned by its members, who typically share a common bond such as employer, profession, or community.
Unlike banks, credit unions return profits to members through lower loan rates, higher savings yields, and reduced fees.
I refinanced my car loan through the credit union at work.
Controlled by its users
- mutualShared between parties
- sharedHeld in common
- collectiveJointly organized group
- co-opMember-owned organization
democratic · pooling · not-for-profit · community-based · grassroots · solidarity · federation · league
Interest-bearing bank holding
- depositPlace for safekeeping
- interestAttention, stake, or fee
- dividendsProfits paid to shareholders
- certificate of depositTime-locked bank savings
money market · IRA · retirement account · Christmas club · emergency fund · balance · withdrawal · compound interest
One who belongs
- shareholderEquity owner in corporation
- joinConnect or enlist
- eligibilityState of meeting criteria
- enrollmentAct of registering officially
account holder · dividends · patronage · equity stake · benefits · privileges · common bond · sponsor
Credit for vehicle purchase
- mortgageSecured home loan
- personal loanUnsecured individual borrowing
- home equityOwnership portion of residence
- student loanBorrowed funds for tuition
borrower · interest rate · APR · collateral · underwriting · approval · refinance · debt consolidation
Free from taxation
- not-for-profitOrganization without owners' dividends
- financial educationLearning to manage money
- community developmentOrganized local betterment efforts
- underservedInsufficiently provided for
member-owned
Controlled by its users
- mutualShared between parties
- sharedHeld in common
- collectiveJointly organized group
co-op · democratic · pooling · not-for-profit · community-based · grassroots · solidarity · federation · league · charter
savings account
Interest-bearing bank holding
certificate of deposit · money market · IRA · retirement account · Christmas club · emergency fund · balance · withdrawal · compound interest · APY
member
One who belongs
- shareholderEquity owner in corporation
- joinConnect or enlist
- eligibilityState of meeting criteria
enrollment · account holder · dividends · patronage · equity stake · benefits · privileges · common bond · sponsor · affiliation
auto loan
Credit for vehicle purchase
- mortgageSecured home loan
- personal loanUnsecured individual borrowing
- home equityOwnership portion of residence
student loan · borrower · interest rate · APR · collateral · underwriting · approval · refinance · debt consolidation · secured
tax-exempt
Free from taxation
- not-for-profitOrganization without owners' dividends
- financial educationLearning to manage money
- community developmentOrganized local betterment efforts
- bankingbank, banks, ATM, ATMs, account
- creditcreditworthiness, creditor, creditors, FICO, FICO score
- co-opsco-ops, food co-op, grocery co-op, food co-ops, housing co-op
- cooperativesco-op, worker co-op, housing co-op, co-ops, food co-op
- financial officesbank branch, finance department, budget office, loan office, tax office
- shared ownershipco-ownership, shared ownership, community ownership, joint ownership, collective ownership
credit unioncommercial bank
Deposit and loan institution
investment bank · megabank · private equity firm · hedge fund · JPMorgan Chase
credit unioncommercial bank
Deposit and loan institution
payday lender · megabank · Wells Fargo · Bank of America · JPMorgan Chase
union, credit, incredible, credible, credibility, discredit, credentials, credited, credo