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Answers
- False. People who belong to credit unions are called members. According to the Credit Union National Association, there are nearly 85 million members in the United States.
- True. This allows credit unions to provide great rates, fees and services to members like you.
- False. The motto is "Not for profit, not for charity, but for service."
- A, 1934. This act enabled regulated credit unions to expand to every state in the nation. Today, there are more than 8,000 credit unions in the United States alone.*
- False. Hermann Schulze-Delitzsch and Friedrich Wilhelm Raiffeisen formed the first credit unions in Germany in 1852 and 1864.
- True. Members own and control credit unions. They also elect volunteer boards that set credit union policies. This gives members more input on how credit unions run and operate.
- D, Manchester, N.H. The credit union was called the St. Mary's Cooperative Credit Association.
- True. The NCUA is a federal agency for credit unions.
- True. At Chaco Credit Union, your family, friends and co-workers may be eligible to join. Call 513-785-3554 today to see how you can share the benefits of credit union membership.
Scoring: 7-9: You're financially fit! 4-6: You have a good balance started, but keep learning more. 0-3: Increase your credit union knowledge with a few more fact deposits and you'll give others a run for their money.
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