Tag Archives: Credit Unions

Co-Ops 102: Credit Unions

“Not for profit, not for charity, but for service.”

– Credit Union motto

“The National Bank at a profit sells road maps for the soul to the old folks home and the college.”

–   Bob Dylan, “Tombstone Blues”

Graph showing deposits of top 20 credit unions and top four banks in the US

Back in 2010, over 9,000 credit unions in the United States had over $500 Billion in deposits. In November, 2011, the top 20 credit unions had $149 Billion in deposits, while Chase, Bank of America, Wells Fargo, and Citibank, the four largest U.S. banks, had over $4.0 trillion. However, as of the end of the first quarter, 2012, credit unions had over $1.0 trillion in deposits – their deposits doubled since 2010.  What happened?

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Co-Ops 101: More than Brown Rice, Granola, & Honey

When they think of cooperatives, Americans may think of hippies and brown rice, granola, and food co-ops like the Brattleboro Food Co-op, in Vermont, and the Flatbush Food Coop, in Brooklyn, New York. Israelis tend to think first of Kibbutzim and Moshavim, the collective farms of the early days of the Yishuv and the State of Israel that have evolved into corporations.  Eastern Europeans may think of the Kolhoz, the collective farms of the failed Soviet state.

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