What is the difference between who governs a credit union and who governs a bank?

please help need to know

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2 Responses to “What is the difference between who governs a credit union and who governs a bank?”

  1. John said:

    What do you mean by “govern”? Banks and credit unions are both private entities. The difference is that in a credit union, each member actually has an ownership in the institution. Credit unions are not federally insured by the FDIC, but they are insured by a separate federal organization called the NCUA, which basically does the same thing. As far as who has a say in running the business, it is up to the owner, who in turn reports to shareholders or what have you. Of course they both have to follow many government regulations.

  2. Teresa Moyer said:

    Both banks and Credit Union are managed by Board of Directors and by the government, Credit Unions are owned by its members. And the funds collected by its members are used to lean to the member base. People helping People.




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