Q: Can't cities and states just deposit their funds into a credit union? Wouldn't that amount to the same thing?


Credit unions contribute to the economic strength of the communities they serve by returning their profits to local members rather than to out-of-state investors. But they are too small by law to handle the banking needs of a city or state. A public bank also differs from a credit union in that its profits go to the public — all the residents and taxpayers of a city or state — for public use. Find more details here.


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