A true statement about credit unions is that they usually provide installment loans to their members.
What is a credit union?
A credit union refers to a non-profit making financial cooperative that is primarily controlled by its members such as employees, church groups, labour unions, etc.
Also, credit unions are saddled with the responsibility of providing financial services to its members like the traditional banks.
In conclusion, a credit union is a financial institution that provides installment loans to their members.
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