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Another Urban Legend Bites the Dust | 55 comments (55 topical, editorial, 0 hidden)
Re: Credit Unions (none / 0)
My CU in Colorado charged interest on loans, but paid "dividends" on savings.  We were legally considered "members" instead of depositors.

Our knowledge has surpassed our wisdom. --Charu Saxena.
by metavision on Mon Jul 16th, 2007 at 02:39:50 PM EST
[ Parent ]
Re: Credit Unions (none / 0)
That is necessary legal verbage for a CU.  

Legally when you put money into your account you were buying "shares" in the CU and you wrote a "share-draft" instead of a check.  

A doo run-run-run, a doo run-run

by ATinNM on Tue Jul 17th, 2007 at 12:48:14 AM EST
[ Parent ]

Another Urban Legend Bites the Dust | 55 comments (55 topical, 0 editorial, 0 hidden)
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