Loans — Credit Unions

Credit unions exist to promote thrift and provide credit at reasonable rates to their members.

Credit unions are member-owned financial cooperatives that provide a community-focused alternative to commercial banks. Unlike for-profit institutions, credit unions operate under a "not-for-profit" philosophy where "people helping people" is the central mission. This paper explores the unique lending structure of credit unions, their role in economic development, and the benefits they offer to members. 1. The Cooperative Lending Model loans credit unions

: Every borrower is also an owner of the institution, having a vote in its democratic governance regardless of their account balance. Credit unions exist to promote thrift and provide