What does CCU mean in BANKING

Consumer Credit Unions typically offer loan products, including auto loans and mortgages, as well as banking services such as checking accounts and money transfers. In addition, some CCUs may also offer other financial services such as investments or home insurance.

Unlike large banks, which are for-profit institutions owned by their stockholders, Consumer Credit Unions are non-profit organizations owned by their members. As a result, they often have lower interest rates and fees than traditional banks because they're not trying to maximize profit margins. They also tend to be more focused on customer service than profit-oriented banks.

In order to become a member of a Consumer Credit Union you must meet the eligibility requirements set forth in the organization's membership agreement. Generally speaking, membership can be granted if you live in or work within the geographic boundaries set forth by the credit union or if you are able to prove both common ties and financial necessity associated with the institution's mission statement.