Whois & Analysis for eecuonlinebanking.org

A credit union is a member-owned nonprofit cooperative financial institution.

Credit unions may offer financial services equivalent to those of commercial banks, such as share accounts (savings accounts), share draft accounts (cheque accounts), credit cards, credit, share term certificates (certificates of deposit), and online banking.

Normally, only a member of a credit union may deposit or borrow money.

In several African countries, credit unions are commonly referred to as SACCOs (savings and credit co-operatives).

A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions.

Broadly speaking, there are three major types of financial institution:

A nonprofit organization (NPO) or non-profit organization, also known as a non-business entity, or nonprofit institution, and often referred to simply as a non-profit (not followed by a noun), is a legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that operates as a business aiming to generate a profit for its owners.

A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties.

An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives.

Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without having tax-exempt status.