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When opening a savings or checking account or taking out a loan; you may want to consider becoming a member of a credit union. Credit unions are nonprofit, cooperative financial institutions owned and run by its members who are its customers. Credit unions are organized to provide their members with a safe place to save and borrow at reasonable rates. Credit unions are set up to offer savings and checking accounts and loans to its members. The members of credit unions share a common bond. Examples of common bonds of members of credit unions are place of employment, labor union membership, or living/working in a local community.
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