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Laborie Cooperative Credit Union Ltd.Allan Louisy Street, Laborie Clarke Street, Vieux Fort Phone: 1 (758) 4596900 1 (758) 4596930 Fax: 1 (758) 4559289 1 (758) 4546069 Website: www.mylaboriecu.com.

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However, two regulatory experts say credit unions are actually safer places for folks to put their money than traditional banks, pointing to how the institutions – which largely cater to individuals rather than companies – are much less vulnerable to bank runs or liquidity issues.

Here are some of the country's top credit unions: Alliant Credit Union. Alliant offers an above-average interest rate for savings. ... Consumers Credit Union. ... Navy Federal Credit Union. ... Connexus Credit Union. ... First Tech Federal Credit Union.

Like banks, which are federally insured by the FDIC, credit unions are insured by the NCUA, making them just as safe as banks.

Overall, credit unions have a much higher percentage of insured deposits than banks. Credit unions also have an insurance system for deposits of up to $250,000. No customer covered by National Credit Union Administration insurance has ever lost money.

Your money is just as safe in a credit union during a recession as it is in a traditional bank. Credit union balances aren't insured by the FDIC. Fortunately, they have a very similar type of deposit insurance through the National Credit Union Administration (NCUA).

History shows that when it comes to a credit union vs. bank in a recession, the credit union is likely to fare a little better. While both can be hit hard by tough economic conditions, credit unions were statistically less likely to fail during the Great Recession.

There are several reasons why credit unions are better than banks. Credit union members benefit through higher yields on deposits, fewer or no fees on products and services, and lower interest rates on loans. Also, each member is an owner of the credit union and has a vote in electing its board leadership.

The main difference between the two is that banks are typically for-profit institutions while credit unions are not-for-profit and distribute their profits among its members. Credit unions tend to serve a specific region or a specific group of people.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232