How does this work with credit unions? The one I joined I had to “buy a share” for 5$ and keep that minimum of one share (5$) to keep my account active. The credit union is not publicly traded so the shareholders are the account holders.
Good question. Looks like technically, you are a shareholder and get dividends instead of interest for a "share draft account" [1] which is backed by share insurance. [2]
I don't understand how that can work as risk capital. Maybe it just isn't.
How does this work with credit unions? The one I joined I had to “buy a share” for 5$ and keep that minimum of one share (5$) to keep my account active. The credit union is not publicly traded so the shareholders are the account holders.