credit union loan
Member-based borrowing
A credit union loan is money borrowed from a credit union—a nonprofit financial cooperative owned by its members.
Because credit unions return profits to members rather than shareholders, their loans typically carry lower interest rates than those from commercial banks: We got a better rate on our credit union loan than any bank offered.
- savingsAccumulated money kept
- memberOne who belongs
- member benefitsAdvantages for enrolled participants
- borrowObtain for temporary use
- APRYearly borrowing cost
interest · checking · cooperative · cosigner · paycheck · approval · collateral · application · refinance · payoff · debt consolidation · branch · teller · deposit · principal · monthly · automatic payment · payroll deduction
credit union loanbank loan
Borrowed money from lender
payday loan · loan shark · subprime mortgage · venture capital
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