Credit union

Definition:

A member-owned financial institution, either state or federally chartered. Credit unions are often more competitive than banks and savings and loan associations because its nonprofit status makes its operating costs lower.

Related terms:

Deduction

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Loan

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Loan reduction

It will help you work out how quickly you can pay off a loan if you increase your monthly repayments

Credit card

How long it will take to pay off your credit card and how much interest you will pay by minimum payment

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Term: Banking -> Credit union