Caisse populaire

(Redirected from Credit union)

Caisse populaire is a type of cooperative financial institution that is owned by its members. It is a continuation of the financial cooperatives that were popular in the first half of 20th century in many countries (credit unions). Caisse populaire exists in Canada, mainly in Quebec.

Credit unions

Caisse populaire is an example of credit union. Credit union is owned by its members who buy shares. They also provide deposit accounts. That gives capital to provide loans and then generate income. Credit union doesn't, however, return profit to owners, but rather fund projects or services for the benefit of local community.

References

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