credit union

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  • noun

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a cooperative depository financial institution whose members can obtain loans from their combined savings

References in periodicals archive ?
Many credit unions are capturing a broader audience these days by offering competitive rates, more financial services and longer hours.
Credit unions that have more than $500 million in assets are required to have an annual independent audit performed in accordance with GAAS by either a CPA or a licensed public accountant.
Instead, "September 15, 1994, will go down as an historic day for credit unions and consumers," said Ralph Swoboda, president of the Credit Union National Association (CUNA).
The Central Brooklyn Federal Credit Union is but one example of how the nation's 13,200 credit unions are taking fiscal accountability to a new level.
But Ron McDaniel, president of PMFCU, the largest Ventura County-based financial institution with $130 million in assets and 32,000 members, said bankers just want to run credit unions out of business.
a leading provider of direct and indirect lending software to credit unions and financial institutions, today announced that more than 100 organizations are now using the SAIL[R] lending software to manage their lending portfolios, solidifying the company's standing as one of the top three providers of direct and indirect lending software in the credit union industry.
In a drawn-out and vitriolic fight in both the courts of justice and public opinion, banks and credit unions have been quarreling over the latter's membership rules.
Peres continues, "We carefully reviewed banking system options and believe Open Solutions' commitment to Canadian credit unions, coupled with the advanced technologies and services it offers, will enable our credit union to improve its operational efficiencies while supporting our mission of providing quality financial solutions and unsurpassed service to members of our community.
Federal credit unions, designed by Congress as nonprofits in 1934, say corporate downsizing and competition will kill them if they can't expand.
By outsourcing their call center operations to Lending Solutions, credit unions guarantee their members receive skilled sales and service for every call.
As nonprofit organizations, credit unions enjoy special tax and regulatory advantages over conventional banks.
Open Solutions Canada President Blair Goulet, said, "Member focus, financial integrity and community involvement have helped Grand Forks District Savings become one of BC's leading credit unions, with a strong market presence and a reputation for service excellence.
Credit unions can continue to accept new members from outside groups, at least for now, a federal appeals court said Tuesday.
A National Credit Union Administration (NCUA) survey of federal credit unions shows the not-for-profit institutions are staying true to their mission of serving lower-to-middle income Americans.
The legal brawl over who can join credit unions grew more heated Wednesday, with a federal judge suggesting he might be dealing with a ``rogue federal agency'' and ordering it to rescind 31 recent credit union expansions.
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