Credit Unions

Credit unions are entities that operate similar to banks but are generally significantly smaller and are limited to a specific local market.  The name, credit unions, derives from their origin which was through their creation by specific unions, for which they serviced.  For example, one of the larger credit unions was developed by the teachers union and continues to service the needs of a significant amount of teachers, though they also service other individuals as well. The range of products that they offer to customers is similar to those offered by banks, but, generally speaking, they do not have the breadth of services of larger banks.  In addition, they do not operate with the same profit motivation of banks, with their operational mission being to service their customers as opposed to making a profit.  More info: credit union Jacksonville

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