National Credit Union Administration: Earlier Actions Are Needed to Better Address Troubled Credit Unions

Credit unions are tax-exempt, cooperative financial institutions run by member-elected, primarily volunteer boards. To build capital, credit unions do not issue stock; they are not-for-profit entities that build capital by retained earnings. Their tax-exempt status and cooperative, not-for- profit structure separate credit unions from other depository institutions. Like banks and thrifts, credit unions are either federally or state chartered.

• | Author: Government Accountability Office
• | Publisher: Createspace Independent Publishing Platform
• | Publication Date: Sep 04, 2013
• | Number of Pages: 82 pages
• | Binding: Paperback or Softback
• | ISBN-10: 149228923X
• | ISBN-13: 9781492289234