A Better Way to Manage Your Everyday Money - Book - Page 22
Credit unions
A credit union provides the same services as a bank, but differentiates from banks in the way that
they tend to range in size and popularity and are owned and operated by their own community.
Credit unions are also not-for-profit, tax-exempt, and membership-based. To become a member,
you often have to live in a certain place, work a certain job or for a certain organization, or be a
part of a family with members. Just like the FDIC, a credit union checks out if they are insured
by the National Credit Union Association (more below), as they protect members in the case of
loss.
Credit unions can also be privately insured, in which case the above logo is not displayed and the
word
