Posts by category: Finance & Banking

Well folks, let's dive into the great cash ocean of credit unions! You might be thinking, "Wait a minute, aren't they non-profit?" You're right! They are, but they still need to keep the lights on, right? So, here's the scoop: Credit unions make their profit by providing loans and charging an interest, a bit like your friendly neighborhood bank, but with a sweeter smile. They also earn from investments and service fees, but don’t worry, they always have their members' best interest (pun intended!) at heart. So, the next time you're wondering how your credit union affords those flashy pens, you'll know it's all thanks to the magic of loans, investments and the occasional fee.