Credit Unions Vs Banks

In order to find a good job and have a good life in the future, many high school students plan to continue acquiring a higher education degree in the college. Michael is a senior high school student. He is going to graduate from his high school soon. His friends think about attending four-year universities directly after graduating from the high school and he does not want to be left behind them. However, Michael’s parents realize that there is not quite enough money in the saving account to support him if he chooses to attend to the university directly after graduating from high school. All the money that his parents have been saving for many years will pay for the tuition, which means his family will be difficult to maintain the normal livelihood. In addition, his parents also learn that Michael’s high school academic performance is not good, so they worry about that whether he will be able to handle college-level circumstances or not. So, his mother goes to school and asks help from the counselor. The suggestion of the counselor is that Michael should go to the community college first and then transfer to a university. In this situation, Michael is not sure where he should go? As a friend of Michael, I advise that he should choose to go to the two-year community college after graduating from the high school and then consider to transfer to the four-year university.

b. List three differences you found between the accounts and features this bank or credit union offers and the bank from question 1 above. (1-3 sentences. 1.0 points)

As a result, credit unions are more personal than banks are, and it is clear that they care about your finances. When you walk into a credit union, it is likely that you are greeted by someone you know, and it is usually a speedy event. Also, since they are owned and operated by the members, the members get a say in the credit union's decisions. Credit unions put the members first, and don't have the main goal of making a profit.

One of the biggest decisions a student has to make is deciding the college they should choose, a university or a community college? At the end of their high school years, a student must decide what college would be best for them. If they are fortunate enough not to have to go to work and wait to go to college, then they must make a decision. There are many advantages and benefits of attending a community college. Students should carefully weigh the advantages of each college, as there are many pros and cons of both. As both of them provide a number of choices, it makes a student's decision very exhausting whether a community college or university best fits them. As there are many advantages attending a community college, tuition is a big factor, as it is only a fraction of that at a university which makes it much better to choose a community college to begin your college career.

Deciding whether to attend a community college or university can be a difficult decision for students especially high school seniors and fresh high school graduates. After graduating from high school, the next step in the academic journey is to attend a college or a university. Before I got into college, I wanted to attend a university. I never considered attending a community college because I considered it irrelevant and less rewarding than a university. Now I have a different view about community colleges and I can clearly point out the major difference between a community college and a university. A community college is a two year college which offers two or three year courses and award associate degrees and certificates. Most community colleges are linked with certain universities which makes it easier for students to transfer. My decision to attend a community was strongly influenced by Cost, easy transition to university, and the need to balance school, work, and social life.

In 2012, I accepted a position at the Wisconsin Credit Union League (WCUL) as a Compliance Specialist. The WCUL (or “The League”) is a dues-supported trade association for Wisconsin credit unions that are cooperatively owned by more than 2.7 million members. The primary purpose of the organization is to serve Wisconsin credit unions by promoting the “credit union difference” through advocacy, education, and public service. However, The League also serves as a non-profit organization promoting the wellness of credit unions and the communities in which they serve. This includes, but is not limited to: promoting credit union development, educating credit union staff and volunteers, promoting financial literacy, and supporting the overall credit union system in times of need. Respectively, being employed on the profit-side of the organization is not only critical to The League, but the Wisconsin credit unions as well. It is my belief that maintaining an understanding of the organization and remaining committed to its overall mission and values (on both the profit and non-profit side) are essential for success.

Unions in the past, and unions today are more different,but still the same in many ways today.In the past unions were made to achieve to goals for higher wages,benefits,and power. Unions were made as a response to industrialization,unions grew rapidly in the 1930s-1950s.Today unions are still in existance to make sure that the union goals back then are still upheld.

Even though credit unions are like banks, Municipal Credit Union provides a safe place to save and borrow money at reasonable rates. Credit Union members are considered as owners regardless of how much money they have on deposit and will always have a vote in electing board members, unlike commercial banks. They also operate to promote the wellbeing of their members. For example, profits made by credit unions are returned back to members in the form of reduced fees, higher savings rates, and lower loan rates. In conclusion, many of the financial institutions today such as commercial banks and credit unions offer many of the same types of services and

for certain products then the credit union should be doing the same with their lending.

Hello Cassaundra, thanks your posting nevertheless, the information into processes applied by Delta Community Credit Union. Their operation process strategy planning and campaigning to educated consumers that they can have no monthly banking fees, lower interest rates on loans was marvelous. The operation process seems to have empower many other consumers to join Delta Community Credit Union for only five dollars. Delta Community Credit Union strategy planning for greater customer services was on point validated with the article, thus, “2014 suggest that a significant percentage of consumers left “big banks” due to feelings of distrust and lack of service, per (Epperson, 2014).” I feel they made the right decisions, subsequently, because

The purpose of this research is to review the impact of mergers and acquisitions on credit unions as it applies to the principles of money and banking. Specifically we will review the impact of the merger between E & A Credit Union and First Community Federal Credit Union. Mergers and acquisitions are very common in today’s financial environment. According to the Glenn Christensen (2015), there has been an increase in approved mergers again this year, June 2015 over June 2014. Not only are there more and more mergers, the size of the merger is growing as well (Christensen, 2015). As we look at the history of financial institutions over the years, mergers and acquisitions are very common. Mergers and acquisitions have had a significant impact in the decline of the number of banks since 1985 (Mishkin, 2016). Over the past few decades, thousands of banks merged (Wilcox & Dopico, 2011). Credit unions have seen significant numbers in terms of mergers and acquisitions spanning over many years. In 1969 there were 23,866 credit unions with assets totaling $16 billion (Wilcox & Dopico, 2011). This number dropped dramatically by 2010 to only 7,491 credit unions (Wilcox & Dopico, 2011). The assets grew to $927 billion equaling 7.6% of bank assets in comparison to the only 3% held during 1969 (Wilcox & Dopico, 2011). Although there was a 70% reduction in the number of credit unions, credit unions grew in their share of the market..

Assume people want to buy a house, so people can go to commerical bank apply for loans, then commerical bank agree to borrow money and set a schedule for people to repay. After that, bank has two choice of that mortage, bank can hold the mortgage and earn the interest that people pay for bank every months. Also, bank can sells the mortgage to investment bank. At first the commerical bank can quickly gets cash, and give loans to other people who also want to buy house, and secondly, commerical bank will have no more responsible for any risk of that mortgage.

Credit unions are places that do not encounter any type of profit and usually are usually a business where you must already be a member of

“Profits made by credit unions are returned back to members in the form of reduced fees, higher savings rates and lower loan rates.” It is there to mainly serve the members interest rather than to charge the members. “Not for profit, not for charity, but for service.” Credit Unions reward members with leftover profit, pay expenses and costs first. Friedrich Wilhelm Raiffeisen was in charge of the Credit Union to help farmers in Germany. The first Credit Union was organized

-Credit unions are nonprofit, member-owned institutions. The lesson said like banks, they are able to provide loans through deposits to checking and saving accounts