The Credit Union Difference

credit unions have a history of strong presidential support. which president signed the credit union membership access act?

President Clinton

a significant year for credit unions was 1934 because of these two events:

President Franklin Roosevelt signed the Federal Credit Union Act and the Credit Union National Association (CUNA) was formed.

What is the credit union motto?

"not for profit, not for charity, but for service."

Cooperatives organizations:

arouse out of informal cooperative arrangements in communities.

The Estes park, Colorado meetings were significant for:

bringing together state delegates to form a national credit union association.

Credit unions are unique among financial service providers. which item in the list below is not a trait of credit unions?

charitable organization

what is "a unifying factor or characteristic among the members, which links them together and distinguishes them from the general public"?

common bond

Credit unions have a commitment to serving:

consumers who are sometimes ignored by other financial institutions.

What is "a person holding at least one credit union share who can receive the credit union's financial and related services, and depending upon age, has the right to vote at an annual meeting"?

credit union members

Each credit union member has:

equal ownership and one vote regardless of how much money a member has on deposit.

credit unions are not-for-profit________

financial cooperatives.

co-ops have focused on providing value to members. what this means to their members is:

higher grades on surveys that investor-owned companies on questions of value, quality, price, and commitment to their communities.

there are different types of co-ops, including services such as:

insurance, cab companies, babysitting, and HMOs

Credit unions were formed as an alternative to:

loan sharking.

Since credit unions are not for profit, earnings are returned to members in the form of:

lower loan rates, higher interest on deposits, and lower fees

The bankers' challenge to credit unions was an attempt to:

prevent credit unions form adding additional groups to their membership.

credit unions are owned by:

the members of the credit union

Credit union members are owners: this means that:

they have equal membership and vote, and can volunteer to be on the board of directors.

people qualify for credit union membership by:

working at the same company, living in a specific community, or belonging to a particular religious organization.

the common bond for the Carson educators credit union is the school district of Carson city. its field of membership includes all employees of the Carson school district. which of these individuals is eligible to be a member of the credit union?

Betty Smith lives in Middleton which is a suburb of Carson City. She is the principle of Carson City East Elementary School.