Non-profit: An organization that does not issue stock shares or distribute its surplus funds to owners or shareholders, but instead uses the funds to help achieve its goals
The difference between a for-profit organization and non-profit is rather clear and that alone is a crown jewel within any service provider / affiliation. Credit unions are not only non-profit, but they have far more perks whilst banks are for profit. The power of a voice is given to a member, all the while still promoting accountability. As as member of a credit union you become a shareholder of the bank and you get a vote - no matter how much money you have. The directors are volunteers so it’s guarantee that your banking situation isn’t affected by economic influence. Credit unions are also federally insured - but not all, so ask your credit union if they are. Only the really small ones which are privately owned. Credit unions do make profits but that money goes back to the members in various forms, lower rates and if there are any economic crisis’ there’ll be enough money to up stand service throughout.
Your voice will always be heard and your opinion matters. Taking responsibility for your own future, so we don’t end up in another crisis with someone to blame.
2 Comments
Credit Unions still follow the same rules as the Big Banks, no?
Submitted by OccupyNews.net on
I want to see tens of millions of financially oppressed people have the right to restructure their debts that were in part caused by the fraud economy that Wall Street created over the past decade, without being labeled defaulters because they want to restructure their debts.
In this regard I would assume that Credit Unions are the same as the big banks and won't be able to help in the way that tens of millions need help right now. Just sayin.
www.occupynews.net, www.swarmthebanks.com, www.wallstreetchange.com, www.bankprotests.com, www.dailyprotest.com, www.parallelforeclosure.com, www.credit-protector.blogspot.com, www.myalexlogic.com, www.bloggersagainstchasebank.com,
Credit Unions & Savings and Loans Banks
Submitted by Seth Spinolla on
I can't answer your question about the 'restructuring' of debt etc., but there might be some difference. The major difference between those banks and the big commericial banks is that they actually lend money deposited with them. The big commercial (chartered) banks create new money as debt on a fractional reserve basis. The latter is the BIG problem for the whole economic system in a Nation collectively, as these are the major lenders to Business, Gov't and individuals. The large commercial banks would love to see these smaller community oriented banks disappear.
You are better off, in protest or otherwise, to deal with State 'Deposit' banks (aka Savings and Loans) and Credit Unions..esp. if your savings are guaranteed insured.
Without free speech no search for the truth is possible, no discovery of truth is useful. Better a thousandfold abuse of speech than denial. The abuse dies in a day, but the denial slays the life of the people, and entombs the hope of the race.
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