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Simple English definitions for legal terms

credit union

Read a random definition: Immigration and Naturalization Service (INS)

A quick definition of credit union:

A credit union is a type of bank that is owned and controlled by its members. This means that the people who have accounts at the credit union get to make decisions about how it operates. Credit unions offer loans and savings accounts, just like regular banks, but they often have lower interest rates and higher returns on savings. To join a credit union, you usually have to meet certain requirements. Accounts at credit unions are insured by the government, just like accounts at regular banks.

A more thorough explanation:

A credit union is a type of financial institution that is owned and controlled by its members. It provides loans and savings services to its members. Unlike banks, credit unions are controlled by the account holders (members) of the union, and the union may have standards for who can join the credit union. Members who meet certain requirements can vote on the leadership of the union.

Credit unions are non-profit organizations, which means they do not aim to make a profit. Instead, they aim to provide services to their members at a lower cost than traditional banks. Because credit unions are non-profits and limit surplus services, members receive lower interest rates for loans and higher returns on savings accounts than at a regular banking institution. Accounts at credit unions receive the same FDIC insurance coverage as qualifying banks do.

For example, let's say you want to take out a loan to buy a car. You could go to a bank or a credit union. If you go to a credit union, you will likely get a lower interest rate on your loan than you would at a bank. This is because credit unions are non-profit organizations and aim to provide services to their members at a lower cost than traditional banks.

Another example is if you want to open a savings account. If you open a savings account at a credit union, you will likely earn a higher interest rate on your savings than you would at a bank. This is because credit unions are non-profit organizations and aim to provide services to their members at a lower cost than traditional banks.

These examples illustrate how credit unions work to benefit their members by providing lower interest rates on loans and higher returns on savings accounts.

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13:51
I do think people might be using the term unicorn PI too liberally
13:51
Used to mean career outcomes that were pretty much only possible out of HYS and maybe NYU
Some consider Unicorn PI to include things like Asst US Attorney. In that case, you can achieve that by going anywhere that will allow you sit for the bar so long as your grades are strong and your internships and/or clerkships align.
16:34
Chowie go to Berk cause that's probably where I end up
16:34
But in all seriousness I would take Miami. If you're 100% committed to PI I don't think the .1% outcome that may be possible from Berk is worth taking on insane debt
has anyone heard back on a saturday or sunday?
and do we think any school would send out decisions on monday (since its presidents day)
techsplitter
19:01
no
20:10
take full ride 100%
20:11
@ChowieBean: ^
20:47
@LeanDeadCloud: HR works m-thu 10-2
J-Reuben-Clark-Law
11:50
Good for UT Austin people: https://www.youtube.com/watch?v=MWTt77PPg4Q
J-Reuben-Clark-Law
17:18
"The man of talent is like a marksman who hits a mark others cannot hit; the man of genius is like a marksman who hits a mark they cannot even see to."
omelette
8:21
today's gonna be quiet asf just like this past weekend
omelette
8:25
some schools are open today tho apparently like columbia so some decisions might be imminent
UGA🫵🏻
Just got my acceptance to NCCU last week + I did my interview with Elon (not too exciting they give every applicant one).
Also received rejections from UNebraska and Wake
omelette
10:04
congrats on NCCU!
BatmanBeyond
11:51
I got waitlisted at an in-state school above both medians. The whole idea was that it's a cheaper, accessible option than my sole A. This cycle is brutal.
BatmanBeyond
11:52
Not even motivated to write a LOCI, but even if I get in, should I expect no scholarships?
omelette
11:52
you can still get schollies off the waitlist but maybe not a full ride yk
BluePacedCephalopod
11:56
sounds like yield protection
BluePacedCephalopod
11:56
fwiw i got put on then taken off my safety's WL in about a month and then got a 75% scholly
BatmanBeyond
12:18
@BluePacedCephalopod: did you write a LOCI?
BluePacedCephalopod
12:18
no they reached out for an interview
12:28
has UVA done any admit in the past few days?
omelette
13:18
yes 2/13 and 2/14, they wouldnt release on a weekend
thecableguy7
15:06
UT Austin today?
J-Reuben-Clark-Law
15:16
More like UTI Austin am I right ladies.
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