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Indiana Members Credit Union
The advantages of a credit union outweigh the disadvantages
A credit union is a not for profit cooperative financial institution. A credit union is a non-profit financial organization that is owned and regulated by its members through a representative electoral board of directors nominated from the membership itself. If you are looking to borrow some money to pay for a dream holiday, buy a car or make some improvements to your house, it’s likely that your first port of call in looking for finance will be your bank.
A given credit union cannot lend all the money saved as loans to its members and cannot invest any residual money in any ventures above a certain level of risk. If this happens, you might then try your luck with one of the multitude of loan companies who advertise on television and in the press, or found on the internet. Indiana Members Credit Union Among the benefits of being a member of a credit union in the U.S. is ownership of an ATM card that can be used in a number of automated teller machines without surcharge fees.
Look around your workplace there may already be a credit union catering to your every need. Many credit unions also pay ‘bonus’ dividends in especially good years. Each Credit Union has a ‘common bond’ which determines who can join.
Credit unions provide pretty much the same services as banks but have some important loan-related advantages over banks. The CUCARD
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