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"A credit union is a cooperative financial institution that is owned and controlled by its members. Credit unions differ from banks and other financial institutions in that the members who have accounts in the credit union are the owners of the credit union".
"Tension has always existed between credit unions and banks. When credit unions were first organizing in North America in the early twentieth century, the banking industry was opposed, remaining so ever since. These tensions have only been exacerbated as many credit unions have grown, expanded their fields of membership to include large communities and whole states, and in the eyes of some, are indistinguishable from banks".