Credit union

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/credit-union

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the organizational framework?Member-owned nonprofit cooperative financial institution
2. What is the global membership count (2018)?375 million members worldwide
3. What is a credit union and how is it different from a bank?A credit union is a member‑owned club that saves and lends money for its members. Unlike banks that try to make money for shareholders, credit unions keep profits inside the club to help members get better rates.
4. Why do people join a credit union?People join because they want a friendly place that cares about their money, offers lower fees, and shares the profits with members instead of outside investors.

Cooperative financial institution: An organization owned and controlled by its members who use its services.
Natural-person credit union: A credit union that serves individual consumers, as opposed to corporate credit unions.