USA location Credit union Illinois Quincy

Credit unions differ from banks and other financial institutions in that the members who have accounts in the credit union are the owners of the credit union and they elect their board of directors in a democratic one-person-one-vote system regardless of the amount of money invested in the credit union. Credit Union - a nonprofit financial institution that specializes in mutual financial assistance through the provision of savings and credit services to members. The largest corporate credit union in the United States is U.S. Central Credit Union of Lenexa Kansas which serves as a central clearing house for other corporate credit unions and holds approximately $45.3 billion in assets. As of October 2011 the largest American credit union was Navy Federal Credit Union serving U.S. Department of Defense employees contractors and families of servicepeople with over $45 billion USD in assets and over 3.4 million members. 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. Credit Union - a nonprofit financial institution that specializes in mutual financial assistance through the provision of savings and credit services to members.