Federal Credit Union - FCU
  
Champagne and sparkling wine both generally taste the same, but get different names based on how their made. (Or, if the champagne metaphor is too high falutin, you know how there are beverages you buy at the convenience store...and beverages your cousin makes out in the woods?)
That’s kinda what’s going on with credit unions and banks.
Essentially, they do the same thing: offer loans and accept deposits. But credit unions are not-for-profit collectives (no, not quite like the ones they had in Petrograd), while banks are for-profit institutions.
Credit unions, as they say, pass the lower overhead onto you, usually with lower loan rates and higher interest on deposits. But credit unions tend to have less reach than a nationally branded bank, so you might miss out on some amenities, and lose out on some of the benefits of scale.
A federal credit union is a further distinction within the credit union category. The federally-chartered versions differ from the standard variety in the way they are insured. But for the customer, it’s largely a difference on the label.
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Finance: What is the Equal Credit Opport...6 Views
Finance a la shmoop what is the Equal Credit Opportunity Act? alright people while the
federal government thinks everyone should have the equal opportunity to get [Men in Federal Government appear]
into debt isn't that sweet of them you know that Uncle Sam well he sure does
have a heart of gold this federal law makes it illegal to discriminate against
people who are applying for financing on pretty much anything legal based on
their age gender marital status religious affiliation ethnic or national
background or public assistance benefits your credit score however well that
still matters sorry just keeping it real
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