Credit Union

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Credit Union

A corporation formed under special statutory provisions to further thrift among its members while providing credit for them at more favorable rates of interest than those offered by other lending institutions. A credit union is a cooperative association that utilizes funds deposited by a small group of people who are its sole borrowers and beneficiaries. It is ordinarily subject to regulation by state banking boards or commissions. When formed pursuant to the Federal Credit Union Act (12 U.S.C.A. § 1751 et seq. [1934]), credit unions are chartered and regulated by the National Credit Union Administration.

A credit union can be distinguished from other financial institutions by the fact that membership is ordinarily restricted to individuals who meet certain residential or occupational criteria. In addition, it can make loans of a more diversified nature than certain institutions, such as building and loan associations.

References in periodicals archive ?
Le financement octroye par les cooperatives de credit, notamment les caisses populaires, varie beaucoup d'une province a l'autre, le Quebec arrivant en tete des provinces canadiennes dans les prets consentis aux entreprises par ces institutions financieres.
Each loan fund is established by one or several local Caisses Populaires in partnership with a financial consulting agency.
Au moment ou les caisses populaires commencent a se multiplier dans les petites villes et les villages du Quebec, a Montreal meme, la communaute juive tout entiere se mobilise pour se doter elle aussi d'outils de promotion economique.
S'interessant particulierement a la premiere edition de ce catechisme et aux messages qu'il vehicule, Paul Morency en fait l'objet de sa these de doctorat en linguistique, qu'il depose a l'Universite Laval en 1998 sous le titre : Le message cooperatif dans le Catechisme des caisses populaires Des jardins ; analyse semiotique d'un texte fondateur.
L'analyse de Morency poursuit trois objectifs :-- [much less than] dire quel est et comment s'exprime ce message cooperatif des premiers propagandistes, tel qu'il figure dans le premier Catechisme des caisses populaires [.
Credit unions and caisses populaires have moved to top spot, gathering best scores in all five key aspects of bank service and collecting the only two "A" marks awarded.
As a co-founder of the caisses populaires (credit unions), Dorimne Desjardins greatly contributed to the implementation of the first caisse founded in Lvis in 1900 with her husband Alphonse Desjardins.
Formed in 1984, Interac Association is a not-for-profit organization composed of 95 members which include: banks, trust companies, credit unions, caisses populaires, technology and payment-related companies.
The Canadian Credit Union Association (CCUA), which represents more than 300 credit unions and caisses populaires outside of Quebec, is partnering with Diebold Nixdorf to transform the financial self-service landscape for its members.
NASDAQ: CORI), the top provider of online banking, payment and security solutions to the financial services industry, today announced that Credit Union Electronic Transaction Services (CUETS), a provider of MasterCard(R) issuing and acquiring products and services to over 450 credit unions, caisses populaires and other organizations throughout Canada, has selected Corillian Credit Card Management as its foundation for a next-generation online credit card management solution.
Ontario is proposing changes that will help credit unions and caisses populaires remain competitive and better serve individuals, communities and businesses.
MINNEAPOLIS -- Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, announced today that CUETS, which provides MasterCard products and services to over 450 credit unions, caisses populaires and other organizations in Canada, is implementing Fair Isaac's LiquidCredit(R) service and Capstone(R) Decision Accelerator to automate and improve its credit card application decision processes.

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