Credit unions are similar to commercial banks in that they offer chequing and savings accounts, mortgages, business loans, online banking and registered savings plans—all for lower or no fees than traditional lenders. But credit unions are co-operatives and therefore tend to be much smaller than the major banks. Customers have to buy a one-time membership
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The North Carolina House of Representatives this week passed a measure that would allow credit unions to expand into markets underserved by banks./nd700 – stock.adobe.com Credit unions in North Carolina are campaigning to change state law so they can increase services in so-called “banking deserts” — often rural markets where traditional financial services are sparse.
A Connecticut man was sentenced to two years in prison for defrauding multiple credit unions and banks through an auto loan scheme, according to federal authorities. Ronnie Bonner, 64, of Hartford, also was sentenced by U.S. District Judge Stefan R. Underhill in Bridgeport to three years of supervised release. Authorities, citing court documents and statements