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That's called a Credit Union. Not a new idea....
by dublin 8y ago
That's called a Credit Union. Not a new idea....
- tathougies 8y agoA credit union is a non-profit. A non-profit can be owned by a government or an individual, similar to how a for-profit can be owned by a government or individual. In other words, the two descriptions are completely orthogonal. Most credit unions (really, the vast majority) are privately owned, typically by the account holders themselves.