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HASSET Thesaurus

Concept information

ECONOMICS > FINANCE > FINANCIAL INSTITUTIONS > CREDIT UNIONS

Preferred term

CREDIT UNIONS  

Definition

  • A NOT-FOR-PROFIT CO-OPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, THROUGH THE ELECTION OF A VOLUNTEER BOARD OF DIRECTORS ELECTED FROM THE MEMBERSHIP ITSELF. ONLY A MEMBER OF A CREDIT UNION MAY DEPOSIT MONEY WITH THE CREDIT UNION, OR BORROW MONEY FROM IT.

Broader concept

Related concepts

History note

  • TERM CREATED APRIL 2006

Keyword search

Definition source

  • WIKIPEDIA

URI

https://hasset.ukdataservice.ac.uk/ebd5e3b7-d857-4c9e-88f8-6024947074b0

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