Credit Unions

Establishments in the Credit Unions industry primarily engage in accepting member deposits and providing loans to their members. These member-owned financial cooperatives offer a range of financial services, including savings accounts, checking accounts, and various types of loans, such as personal, auto, and mortgage loans. Unlike banks, credit unions are distinguished by their not-for-profit status and member-focused governance, where profits are returned to members in the form of lower loan rates, higher savings yields, and reduced fees.