Nonprofit Financial Institutions: Credit Unions
Thursday, October 2nd, 2008
photos by ginnybrady and calaggie
When have you ever heard about a Credit Union being fraudulent or manipulative in its financial dealings? When have you ever heard that a Credit Union served the interest of investors first then the people they served? The answer is probably never.
There are several reasons that Credit Unions as banking institutions have been successful in this manner.
Credit Unions are nonprofits
Credit Unions were created with a core mission to meet the needs of people and/or entities that meet a specified criteria. A core mission to serve a targeted group.
Credit Unions only have its members benefiting from sound financial practices as a banking institutions. It is not beholden to any stock holder, hedge fund or any type of investor.
If you want to feel safer with your money try your local Credit Union. Education yourself and your local officials about the positive sound business practices of credit unions.
