I'm not really familiar with the benefits of credit unions. What are they?
Guy
Two really, I think. First, they're run as co-operatives, so the profits (if any) can be returned to the investors (rather than a bank's shareholders) as dividends.
I don't really see this as a plus (or a minus). Just different people collecting the profits.
Obviously an empirical question - but given the typical effectiveness of most not-for-profit organizations, I am very hesitant to think that this is a sustainable model without any sort of explicit or implicit subsidy.
Guy