Teachers Federal Credit Union Is A Mutual Benefit Corporation. Question
Teachers Federal Credit Union is a not-for-profit financial institution that provides low-rate personal and business banking products and services to help members build a strong financial foundation. They are committed to supporting their members, team, and communities through education and financial assistance. The credit union is also transparent about their privacy policies and offers various checking account options with different benefits and fees. Founded in New York in 1952, Teachers has a national charter, allowing membership for anyone in the United States. With over $8 billion in assets, it is one of the largest credit unions in the country.
False. Teachers Federal Credit Union is not a mutual benefit corporation. It is a not-for-profit financial institution that provides banking services to its members. While it operates with a focus on benefiting its members, it is structured as a credit union, not as a mutual benefit corporation.
Sources
![TEACHERS FEDERAL CREDIT UNION ANNOUNCES SECOND YEAR AS THE ...](https://mma.prnewswire.com/media/2158899/Teachers_Federal_Credit_Union_Logo.jpg?p=facebook)
![Teachers Federal Credit Union | Mortgage & HELOC, Checking, Loans](https://www.teachersfcu.org/sites/default/files/2021-04/Teachers-Federal-Credit-Union-Logo.png)
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