A credit union is a not-for-profit financial institution, typically formed by employees of a company, a labor union, or a religious group, and operated as a cooperative.
A financial intermediary plays a crucial role in the financial system by facilitating the flow of funds between savers and borrowers, ensuring financial stability and efficiency.
An insured account is a type of account maintained at banks, savings and loan associations (S&Ls), credit unions, or brokerage firms that are protected by federal, state, or private insurance organizations. These accounts are safeguarded against losses, subject to certain limits.
