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Question about Banks/Credit union? Watch

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    Ok this might sound like a stupid question but when a company has 'Finance' in its name and provides credits and accepts deposits, is this regarded as a bank or a credit union/credit institution?

    And if it was created by 3 members?
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    (Original post by PANDAx)
    Ok this might sound like a stupid question but when a company has 'Finance' in its name and provides credits and accepts deposits, is this regarded as a bank or a credit union/credit institution?

    And if it was created by 3 members?
    Whats the definition of a credit union?
    Whats the definition of a bank?

    Who owns it?
    Who can it lend to?
    How much can it lend?
    Who does it take money off?
 
 
 
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