Quiz Credit Unions Credit unions are non-profit financial institutions . To use a credit union, you must be a member.
All members have something in common.
It could the city where they live or their occupation. However, much of the time it is a geographical location. This type of institution is owned by the members and governed by the board of directors . The earnings that a credit union makes are paid to its members in dividends . Credit unions also focus on consumer deposit and loan services.