U.S. Census Bureau Daily Feature for June 27: Credit Where It's Due
WASHINGTON, June 27, 2017 /PRNewswire-USNewswire/ -- Following is the daily "Profile America" feature from the U.S. Census Bureau:
CREDIT WHERE IT'S DUE
Profile America — Tuesday, June 27th. Consumers' options for managing their finances were greatly broadened this week in 1934, after President Roosevelt signed the Federal Credit Union Act the day before, promoting the nationwide formation of credit unions. These differ from banks by being member-owned and controlled. Credit unions are nonprofit institutions where groups of people can save, borrow and obtain other financial services. There are 18,450 credit unions in the U. S., employing more than a quarter-million people. These establishments range from a small cooperative for a single church or factory, to those that serve giant corporations. By contrast, there are more than 93,000 commercial banking establishments in America's $3.6 trillion finance and insurance sector of the economy. You can find more facts about America from the U.S. Census Bureau online at www.census.gov.
Sources:
Credit Union act/accessed 3/30/2017: www.ncua.gov/About/Pages/federal-credit-union-act.aspx
Credit unions/County Business Patterns/NAICS 522130:
https://factfinder.census.gov/bkmk/table/1.0/en/BP/2014/00A1//naics~522130
Commercial banking/County Business Patters/NAICS 522110:
https://factfinder.census.gov/bkmk/table/1.0/en/BP/2014/00A1//naics~522110
Finance & insurance/Economic Census/NAICS 52: https://factfinder.census.gov/bkmk/table/1.0/en/ECN/2012_US/00A1//naics~52
Profile America is produced by the Center for New Media and Promotion of the U.S. Census Bureau. Statistics and accounts drawn from cited non-Census sources are employed for illustrative or narrative purposes, and are not attested to by the U.S. Census Bureau. These daily features are available as produced segments, ready to air, on the Internet at http://www.census.gov (look for "Audio" in the "Library" pull-down menu).
SOURCE U.S. Census Bureau
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