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Federal Credit Union - FCU

Federal Credit Union - FCU Definition

Federal Credit Union - FCU means a cooperative organization that makes loans to its members at favorable interest rates. Membership of a credit union is restricted to individuals who meet certain residential or occupational criteria. It utilizes funds deposited by a small group of people who are its sole borrowers and beneficiaries.


Additional meaning of Federal Credit Union - FCU:

Credit unions are chartered and regulated by the National Credit Union Administration, which is a federal government agency that functions much like the FDIC.


RELATED TERMS
Credit union
RELATED CATEGORIES
Banking







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