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Credit Union
A cooperative financial institution that is owned and controlled by its members, who are also its customers.
More Details
A credit union is a type of financial institution that is owned and controlled by its members, who are also its customers. Credit unions are typically not-for-profit organizations that are run for the benefit of their members, rather than for the benefit of shareholders.
Example
If you prefer a member-owned cooperative instead of a traditional bank, you may seek out a credit union—such as MCU—as your next financial home.
Related Terms
Fair and Accurate Credit Transactions Act (FACT Act)
A federal law that aims to protect consumers from identity theft and fraud by providing greater access to and control over their credit information
Statement Period
The length of time covered by a bank or credit card statement, typically one month, used to determine which transactions are displayed.
eStatements
An electronic version of a bank or credit union statement, which is a summary of an individual's account activity and current balance.

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