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A State Employees' Credit Union branch in Hayesville, North Carolina. State Employees' Credit Union was originally incorporated on June 4, 1937 by employees of the State of North Carolina. The credit union began with $437 in assets and 17 members and was first operated from the basement of Raleigh's Agriculture Building. [6]
In North Carolina, Self-Help Credit Union has merged with more than 10 community-focused credit unions—locally rooted institutions that sought to stabilize their operations and increase output. More recently, Self-Help has had mergers with community credit unions in Florida and South Carolina.
This is a partial list of credit unions in the United States.. A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. [1]
As of March 2020, the largest American credit union was Navy Federal Credit Union, serving U.S. Department of Defense employees, contractors, and families of servicepeople, with over $125 billion in assets and over 9.1 million members. [5] Total credit union assets in the U.S. reached $1 trillion as of March 2012. [6]
A branch of the Coastal Federal Credit Union in Raleigh, North Carolina. A credit union is a member-owned nonprofit cooperative financial institution.They may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (cheque accounts), credit cards, credit, share term certificates (certificates of deposit), and online banking.
The National Credit Union Administration (NCUA) is an American government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federal Deposit Insurance Corporation (FDIC), which insures commercial banks and savings institutions.
The NCUSIF has the full backing of the U.S. government in case an insured credit union fails. According to the NCUA, no credit union member has lost money in federally insured accounts at a credit ...
The National Credit Union Foundation (the Foundation) is the charitable arm of America's credit union movement and works as a catalyst to improve people's financial lives through credit unions. The Foundation is an affiliate of the Credit Union National Association (CUNA) and is located in CUNA's offices in Madison, Wisconsin , as well as in ...