{"iri":"https://folio.openlegalstandard.org/R9ejVFO48SQK7NinELTfoTP","label":"Credit Union","sub_class_of":["https://folio.openlegalstandard.org/R9TyJ8yqLicto5rFa8puek4"],"parent_class_of":[],"is_defined_by":null,"see_also":["https://folio.openlegalstandard.org/RCsSG3CCLhnxP2AJIMaGhaZ"],"comment":null,"deprecated":false,"preferred_label":null,"alternative_labels":["Cooperative Bank","Cooperative Financial Institution","Member-Owned Financial Institution"],"translations":{},"hidden_label":null,"definition":"A credit union is a member-owned financial cooperative that provides traditional banking services, including accepting deposits, making loans, and offering other financial products to its members. Unlike banks, credit unions operate on a not-for-profit basis, returning profits to members in the form of lower loan rates, higher savings yields, and lower fees.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}