On 3/27/2014 5:39 PM, steve harley wrote:
on 2014-03-27 15:09 John wrote
You have to be a member of a Credit Union, and there are limits on who
can become a member. You have to have some common interest with the
other members in order to become a member. Sometimes that "interest" can
be a bit tenuous and you'll still be eligible to join.
the rules have gradually become quite loose; as an example, the Denver
Community Credit Union (not mine) accepts memberships from anyone who
lives or works in one of three counties; once you're a member, a member
of your family may also join
(i was also surprised to learn it accepts business members - didn't
realize credit unions could do that)
There are some credit unions set up to provide business services, but
most are not, especially due to the power commercial banks have over
banking regulators to block credit union competition. More surprising
than the existence of a credit union that offers business services is
that such a credit union would still offer services to "natural persons".
I think generally credit unions are chartered to serve one or the other,
but not both.
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