USA location Credit union Illinois Libertyville

The main benefit of credit unions is the transparency accountability governance for shareholders. Modern credit union history dates to 1852 when Franz Hermann Schulze-Delitzsch consolidated the learning from two pilot projects one in Eilenburg and the other in Delitzsch in Germany into what are generally recognized as the first credit unions in the world. In the United States as of 2005 credit unions have 86 million members which is 43% of the economically active population. U.S. credit unions are not-for-profit cooperative tax-exempt organizations. A credit union's policies governing interest rates and other matters are set by a volunteer Board of Directors elected by and from the membership itself. In the United States as of 2005 credit unions have 86 million members which is 43% of the economically active population. U.S. credit unions are not-for-profit cooperative tax-exempt organizations. Find the nearest credit union to you with our "credit union location" search service.