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What is a Credit Union?
Many people save their money in a credit union. These people usually have something in common,
such as their place of work. The credit union's main purpose is to give member owners the best financial
services at a lower cost.
You and other members put your money into savings accounts which are called share
accounts. This money is then given to other members as a loan; these members will
pay an extra amount of money called interest. Then you and the other
members will get paid extra money from the credit union for letting it
use your money. The extra money that you will earn in your share account
is called dividends.
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