 | Stan Cowan
has worked in the financial industry for over eight years and is currently VP of marketing for Boeing Wichita Credit Union. His education includes a BBA and MBA from Wichita State University. He also teaches part-time for the Wichita branch of Baker University. Stan can be reached at (316) 651-5169 or scowan@bwcu.org |
Banking & Finance
2003-07-01 10:56:00
Credit Unions
: Who owns credit unions? How are dividends calculated and distributed?
ANSWER: The people who BANK at a credit union OWN the credit union. That's why your 'savings' account is officially called a SHARE account. It's your "share" of the credit union. Dividends are called dividends because of credit union regulation and because we're a not-for-profit organization. They are the same thing as INTEREST is at a bank.
