Credit unions are tax-exempt, cooperative financial institutions run by member-elected, primarily volunteer boards. To build capital, credit unions do not issue stock; they are not-for-profit entities that build capital by retained earnings. Their tax-exempt status and cooperative, not-for- profit structure separate credit unions from other depository institutions. Like banks and thrifts, credit unions are either federally or state chartered.
| Author: Government Accountability Office |
| Publisher: Createspace Independent Publishing Platform |
| Publication Date: Sep 04, 2013 |
| Number of Pages: 82 pages |
| Binding: Paperback or Softback |
| ISBN-10: 149228923X |
| ISBN-13: 9781492289234 |