What are Credit Union Shares?
A Credit Union functions differently from a commercial bank. In a credit union, every member is also a part owner. Because credit unions are co-operatively owned, members’ deposits are treated as shares. Shares do not earn interest, but instead, earn dividends.
When a member opens a credit union account, unlike a bank, they are given a minimum of two (2) share accounts. A permanent shares account and an ordinary shares account.